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Goldgroup Reports Updated NI 43-101 Resource Estimate at the Cerro Prieto Project
VANCOUVER , Aug. 8, 2013 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\nVANCOUVER, Aug. 8, 2013 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or\n the \"Company\") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to\n report, further to the Company's news release of April 29, 2013, an\n updated National Instrument 43-101 Measured and Indicated and Inferred\n mineral resource estimate (the \"NI 43-101\") for the Cerro Prieto\n Project located in Sonora, Mexico (the \"Project\").  Giroux Consultants\n Ltd. and Duncan Bain Consulting Ltd. have prepared and authorized the\n release of this NI 43-101 resource estimate. Goldgroup has today filed\n a NI 43-101 technical report on SEDAR relating to this resource\n estimate.\n\n\nMineral Resource Estimate Highlights:\n\n\n\nMeasured Mineral Resources in veins (Table 1) comprised of 1.18 million\n tonnes grading 1.56 grams per tonne (g/t) gold, 30.28 g/t silver, 0.15%\n lead and 0.33% zinc for a total of approximately 59,000 ounces of gold\n\n\nIndicated Mineral Resources in veins (Table 2) comprised of 4.92 million\n tonnes grading 1.03 g/t gold, 22.12 g/t silver, 0.32% lead and 0.80%\n zinc for a total of approximately 163,000 ounces of gold\n\n\nInferred Mineral Resources in veins (Table 3) comprised of 5.025 million\n tonnes grading 0.75 g/t gold, 20.62 silver, 0.49% lead and 1.28% zinc\n for a total of approximately 121,000 ounces of gold\n\n\nCerro Prieto remains open to the south of the existing resource along\n the 7.5 kilometer extension of the mineralized shear zone\n\n\nPreliminary column leach test work completed by Kappes Cassidy &\n Associates, under the direction of Arthur H. Winckers and Associates, a\n consultant for the Company, at the Project returned gold recoveries of\n between 47% to 68% with head grades ranging from 0.79 g/t to 0.95 g/t\n gold over 98 days.\n\n\n\nKeith Piggott, Chairman, President, CEO & Director of Goldgroup\n comments: \"We are pleased with the results of this updated NI 43-101 resource\n estimate for the Cerro Prieto Project in Sonora, Mexico as it assists\n in the solidification of the Cerro Prieto Project as a quality gold\n project.  Based on the drilling done to date, the Cerro Prieto Project\n has a substantial mineral resource which adds to Goldgroup's existing,\n high-quality resources.\"\n\n\nTable 1: CERRO PRIETO MEASURED RESOURCE IN VEINS\n\n\n\n\nCut-off\n(Au g/t)\n\n\nTonnes > C...