Goldgroup Cuts Additional 100-Plus Metre Intercepts of Oxide Gold

Goldgroup Mining (OTC Other: GGAZF; TSX: GGA) has returned significant gold intercepts from its diamond drill program at Caballo Blanco in Veracruz, extending the La Paila oxide gold zone to the west and southwest.  To this end, drilling remains ongoing to define and to delimit the eastern and southwestern flanks of the La Paila gold zone as the zone currently remains open in these two directions.  Recent highlights include:

  • DDH 11 CBN 79 returned 0.88 g/t gold over 100.1 metres;
  • DDH 11 CBN 82 returned 0.59 g/t gold over 154.0 metres; and
  • DDH 11 CBN 84 returned 1.2 g/t gold over 64.0 metres.

According to Keith Piggott, President and CEO of Goldgroup, “These diamond drill results yielded gold intercepts contained in completely oxidized rock occurring inside and peripheral to the existing La Paila zone.  They are similar in grade to the current NI 43-101 estimated mineral resource and give better definition to allow the design of the first open pit. The current drilling program, together with the on-going column-leach metallurgical testing, environmental and sociological studies as well as the heap-leach pad design form the basis for targeting to bring Caballo Blanco into production in 2012.”

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