2011 News Releases
March 29, 2011
883.91 g/t Gold Intercepted Over 0.4 Metres at San José de Gracia
Vancouver, British Columbia (March 29, 2011) -- Goldgroup Mining Inc. ("Goldgroup" or the "Company"), in coordination with DynaResource, Inc. ("DynaUSA"--"DYNR-OTCBB"), is pleased to announce that diamond drilling from the current 18,500 meter diamond drilling program at the San José de Gracia gold project in Sinaloa, Mexico ("San José de Gracia") has encountered high grade gold mineralization yielding 883.91 g/t Au over 0.40 metres (Hole SJG-10-237 at Tres Amigos) as well as 144.08 g/t Au over 1.24 metres (Hole SJG-11-256 at La Union) plus many intercepts above the 2.0 g/t Au cut-off grade.
Keith Piggott, President and CEO of Goldgroup, stated: "Exploration at San José de Gracia continues to deliver high grade gold results. This is significant as a number of these recent drill results have expanded the known areas of mineralization. We are very excited by our work at San José de Gracia to date and look forward to advancing the project."
|
TRES AMIGOS VEIN |
||||
|
Drill Hole |
Mineralization |
|||
|
From (m) |
To (m) |
Interval (m) |
Au grade (g/t) |
|
|
SJG-10-233 |
177.00 |
179.40 |
2.40 |
5.42 |
|
SJG-10-234 |
96.48 |
98.46 |
1.98 |
3.09 |
|
and |
214.61 |
217.97 |
3.36 |
15.05 |
|
SJG-10-235 |
147.65 |
151.15 |
3.50 |
2.95 |
|
SJG-10-237 |
92.44 |
92.84 |
0.40 |
883.91 |
|
SJG-10-239 |
145.90 |
147.75 |
1.85 |
5.02 |
|
SJG-11-242 |
229.15 |
230.95 |
1.80 |
3.13 |
|
and |
258.37 |
262.30 |
3.93 |
2.38 |
|
SJG-11-246 |
107.30 |
108.20 |
0.90 |
63.85 |
|
SJG-11-251 |
16.76 |
18.50 |
1.74 |
2.35 |
|
SJG-11-257 |
60.84 |
63.33 |
2.49 |
5.37 |
|
and |
92.00 |
94.66 |
2.66 |
5.00 |
|
and |
104.56 |
106.33 |
1.77 |
2.81 |
|
LA UNION VEIN |
||||
|
Drill Hole |
Mineralization |
|||
|
From (m) |
To (m) |
Interval (m) |
Au grade (g/t) |
|
|
SJG-11-244 |
73.82 |
74.86 |
1.04 |
9.79 |
|
SJG-11-252 |
55.25 |
59.70 |
4.45 |
4.26 |
|
and |
78.10 |
80.15 |
2.05 |
4.55 |
|
including |
78.10 |
79.20 |
1.10 |
7.16 |
|
SJG-11-256 |
51.61 |
52.85 |
1.24 |
144.08 |
|
and |
99.93 |
101.29 |
1.36 |
9.04 |
|
SJG-11-259 |
77.25 |
79.25 |
2.00 |
2.57 |
|
SAN PABLO VEIN |
||||
|
Drill Hole |
Mineralization |
|||
|
From (m) |
To (m) |
Interval (m) |
Au grade (g/t) |
|
|
SJG-10-236 |
112.96 |
117.03 |
4.07 |
11.38 |
|
and |
140.50 |
140.95 |
0.45 |
5.85 |
|
SJG-10-238 |
257.00 |
258.30 |
1.30 |
2.40 |
|
SJG-11-245 |
104.40 |
105.16 |
0.76 |
3.16 |
|
SJG-11-247 |
63.60 |
65.45 |
1.85 |
10.49 |
|
and |
70.70 |
72.23 |
1.53 |
2.73 |
|
including |
71.77 |
72.23 |
0.46 |
5.70 |
|
and |
80.00 |
83.47 |
3.47 |
5.00 |
|
including |
81.37 |
83.47 |
2.10 |
7.38 |
|
SJG-11-249 |
97.60 |
98.60 |
1.00 |
2.28 |
|
and |
108.20 |
109.93 |
1.73 |
8.21 |
|
and |
130.50 |
131.08 |
0.58 |
8.61 |
|
SJG-11-250 |
101.72 |
104.81 |
3.09 |
20.15 |
|
SJG-11-253 |
149.45 |
151.21 |
1.76 |
4.89 |
|
SJG-11-255 |
154.55 |
155.05 |
0.50 |
3.19 |
|
SJG-11-258 |
102.27 |
102.90 |
0.63 |
2.51 |
|
and |
111.50 |
111.90 |
0.40 |
15.62 |
|
SJG-11-261 |
52.72 |
53.12 |
0.40 |
7.07 |
|
and |
109.03 |
109.43 |
0.40 |
4.42 |
|
and |
114.00 |
114.68 |
0.68 |
8.97 |
The holes presented above intersected mineralization in excess of the 2.0 g/t Au cut-off grade used in estimating the inferred mineral resource presented in the San José de Gracia NI 43-101 Technical Report dated February 28, 2011. Assay results from these latest holes represent new drilling completed since the calculation of the current mineral resource estimate and are intended to be used in the estimation of an updated mineral resource.
A complete summary of these assay results and a map of the San José de Gracia property detailing the relative locations of the drill holes used in estimating the current NI 43-101 mineral resource, this latest drill program and future proposed drilling, will be posted on the Company's website under "Projects -- San José de Gracia" at www.goldgroupmining.com.
The San José de Gracia District is 100%-owned by DynaResource de Mexico S.A. de C.V ("DynaMexico"). Goldgroup currently owns 50% of DynaMexico. The remaining interest in DynaMexico is owned by DynaUSA. San José de Gracia is a high-grade advanced exploration gold project hosting a NI 43-101 compliant mineral resource estimate contained in four separate veins: Tres Amigos, San Pablo, La Union area and the La Purisima trend. Please refer to the NI 43-101 technical report on San José de Gracia dated February 28, 2011 which is available on SEDAR.
Assaying and Qualified Person
After project geologists logged and marked the core, technicians cut the individual lengths with a diamond saw, then tagged the bags and secured them with security clips. The samples were then trucked to Hermosillo, Mexico where Inspectorate America Corp. ("Inspectorate") crushed each sample to -150 mesh. The rejects remained with Inspectorate while the pulps were air couriered to Inspectorate's Richmond, BC, Canada facility and analyzed for gold by fire assay with Atomic Absorption ("AA") finish. Samples over 1.0 grams per tonne gold were re-run using fire assay with gravity finish. In addition, a 30 element Inductively Coupled Plasma ("ICP") analysis (aqua regia digest) was conducted on all samples. A QA/QC program was implemented as part of the sampling procedure for the drill program. One standard, one blank or one duplicate was inserted per group of 20 samples sent the laboratory. These standards were purchased commercially from Rocklabs Ltd. of Auckland, New Zealand. The San José de Gracia drill program is under the direct supervision of Kevin Sullivan, B.Sc., MAusIMM, contracted by Mineras de DynaResource S.A. de C.V., the operating entity at San José de Gracia. Mr. Sullivan is Goldgroup's Vice President, Exploration and a qualified person, as defined by NI 43-101. Mr. Sullivan has reviewed the technical information contained in this news release and reviewed the release.
Goldgroup is a well-funded Canadian-based gold production and exploration Company focused exclusively on Mexico, targeting growth in gold production, mineral resources, profitability and cash flow from a portfolio of production, development and exploration stage projects. The Company owns and operates the Cerro Colorado Gold Mine in Sonora, Mexico. Goldgroup's property portfolio includes its interests in its flagship project, Caballo Blanco in Veracruz and the San José de Gracia project in Sinaloa.
Goldgroup is lead by a team of highly successful and seasoned individuals with extensive expertise in exploration, corporate finance and mine development in Mexico.
For further information on Goldgroup, please visit www.goldgroupmining.com
or contact:
Keith Piggott, President & CEO
T: 604-682-1943
David Fry, Corporate Development
Toll Free: 1-877-655-ozAu (6928)
Goldgroup Mining Inc.
All rights reserved.