Goldgroup Expands La Paila Zone at Caballo Blanco, Intercepts 0.97 g/t Gold Over 69.6 Metres

Goldgroup Mining (OTC Other: GGAZF; TSX: GGA) continues to yield significant gold intercepts, expanding the La Paila oxide gold zone at Caballo Blanco to the southwest.  Of the ten drill holes, eight were used to expand the southwestern flank of the La Paila Zone, which currently remains open in this direction.  Highlights from the recent drill results include:

DDH 11 CBN 142: 69.60 m @ 0.97 g/t Au
DDH 11 CBN 143: 93.90 m @ 0.77 g/t Au
DDH 11 CBN 145: 75.85 m @ 0.65 g/t Au

According to Keith Piggott, President and CEO of Goldgroup, “All of these diamond drill results at the La Paila Zone yielded significant gold intercepts above the cut-off grade, which are contained in completely oxidized, vuggy and siliceous rock occurring within and peripheral to the zone. These results continue to give better definition to the design of the first open pit. As planned, the 2011 drilling program was completed on December 18, 2011. In 2012, the Company is planning a drill program of up to 30,000 metres to further delineate the Caballo Blanco mineral resource.”

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