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Goldgroup Announces Commercial Production at Cerro Prieto
Goldgroup Announces Commercial Production at Cerro Prieto Goldgroup Announces Comm...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\n\nGoldgroup Announces Commercial Production at Cerro Prieto\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nGoldgroup Announces Commercial Production at Cerro Prieto\nCanada NewsWire\nVANCOUVER, June 21, 2016\n\n\n\nVANCOUVER, June 21, 2016 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or the \"Company\") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to announce the declaration of commercial production as of June 1, 2016 at its Cerro Prieto project located in the Cucurpe Mining District, Sonora, Mexico.\n\nNow that the mine is in sustainable operation, additional resources within the same mineralized zone are being investigated to extend mine life beyond the programmed 4 years.  Goldgroup believes that additional resources outside the current mining zone but within the Cerro Prieto concessions also show promise. \n\nCerro Prieto commenced small-scale trial mining and leaching in December 2013 and Cerro Prieto is expected to produce approximately 15,000 ounces of gold in 2016, with production weighted towards the second half of the year. \n\n\"We look forward to Cerro Prieto's strong contribution to our growth profile over the coming years,\" said Keith Piggott, Chairman, President and CEO of Goldgroup \"The mine is expected to be a significant contributor for many years to come.\"\n\nThe Company wishes to make clear that it is not basing its production decision on a preliminary economic assessment demonstrating the potential viability of mineral resources or a feasibility study of mineral reserves demonstrating economic and technical viability, and as a result there is increased uncertainty and there are multiple technical and economic risks of failure which are associated with this production decision. These risks, among others, include areas that are analyzed in more detail in a Preliminary Economic Assessment (\"PEA\") or Feasibility Study, such as applying economic analysis to resources or reserves, more detailed metallurgy, a number of various specialized studies.\n\nScientific and technical information relating to Cerro...