Business
Goldgroup Announces Filing of Caballo Blanco Preliminary Economic Assessment on SEDAR
VANCOUVER, May 10, 2012 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX:G...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 10, 2012 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or\n the \"Company\") (TSX:GGA) is pleased to announce the filing of its\n technical report entitled \"Minera Cardel Resource Corp. - Caballo Blanco Gold Heap Leach\n Preliminary Economic Assessment\" on SEDAR and on the Company's website. The PEA was compiled and\n completed by KD Engineering (the \"Engineer\") of Tucson, Arizona,\n Goldgroup's independent engineering consultant, with contributions from\n SRK Consulting (Canada) Inc., and MWH Americas, Inc.  Initial results\n from the PEA were previously reported in the Company's press release\n dated April 12, 2012.\n\n\nAbout Goldgroup\n\n\nGoldgroup is a well-funded Canadian-based gold production, development,\n and exploration Company with significant upside in a portfolio of\n projects in Mexico, including its flagship 100%-owned advanced stage\n gold development project Caballo Blanco in the state of Veracruz, and a\n 50% interest in DynaResource de Mexico, S.A. de C.V., which owns 100%\n of the high-grade gold exploration project, San José de Gracia located\n in the state of Sinaloa. The Company also operates its 100%-owned Cerro\n Colorado gold mine in the state of Sonora.\n\n\nGoldgroup remains in a flexible financial position with a strong cash\n balance, no debt and no gold hedging. The Company is led by a team of\n highly successful and seasoned individuals with extensive expertise in\n mine development, corporate finance, and exploration in Mexico.\n Goldgroup's mission is to increase gold production, mineral resources,\n profitability and cash flow, building a leading gold producer in\n Mexico.\n\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION \n\n\nCertain information contained in this news release, including any\n information relating to future financial or operating performance, may\n be considered \"forward-looking information\" (within the meaning of\n applicable Canadian securities law) and \"forward-looking statements\"\n (within the meaning of the United States Private Securities Litigation\n Reform Act of 1995). These statements relate to analyses and other\n information that are based on forecasts of future results, estimates of\n amounts not yet determinable and assumptions of management. Actual\n results could differ materially from the conclusions, fore...