We recently traveled to Goldgroup Mining’s (OTC Other: GGAZF; TSX: GGA) Caballo Blanco gold project just north of Veracruz, Mexico. Goldgroup released an updated NI 43-101 resource estimate for the La Paila zone at Caballo Blanco earlier this week with total indicated and inferred gold of just under 1 million ounces (994,000). The Company is expecting to release their Preliminary Economic Assessment (PEA) in the first quarter of 2012 and targeting the April/May timeframe to recieve their Environmental Impact Statement approval, which will greenlight the project to move towards production start-up in late 2012/early 2013.
With targeted annual production of 100,000 ounces once started, Goldgroup could be poised for a significant change in their market value over the next few quarters as we approach that milestone. If you would like to get a first hand look at operations and expectations at Caballo Blanco – we invite you to sit back and do a little armchair traveling to Goldgroup Mining’s Caballo Blanco project: