Goldgroup Tunnel Assays Confirm Drilling Results from the La Paila Zone at Caballo Blanco

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Feb. 27, 2012 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or\n the \"Company\") (TSX: GGA) is pleased to announce that the assay results\n from the initial 175 metres of underground tunnel development at the\n Company's 100%-owned Caballo Blanco gold project in Veracruz, Mexico,\n confirm past drilling results, thereby providing additional confidence\n to the Company's mineral resources announced on February 16th, 2012. The tunnel at the La Paila Zone is being driven to collect bulk-sample material for ongoing\n metallurgical test work.  The tunnelling also provides direct access to\n the mineralized zone allowing the Company to enhance its understanding\n of the geological and geotechnical characteristics of the mineralized\n silica body.  Assay highlights from the tunnel include 34.2 metres of 0.77 g/t Au and 30.9\n metres of 0.68 g/t Au from channel sampling in the main tunnel, and\n 42.2 metres of 0.46 g/t Au from sampling in the cross cut off the main\n tunnel.  The results to date show good correlation between the channel\n sample results and blast material sample results.  Moreover, the\n average gold grades of the mineralized zones in the tunnel correspond\n well with the grades of the drill holes completed in the area\n surrounding the tunnel.\n\n\nKeith Piggott, President and CEO of Goldgroup, stated, \"In addition to\n the recently updated mineral resources on Caballo Blanco representing\n an increase of 314% on indicated resources, the results from tunnel\n assays which confirm nearby drill hole results as well as the\n geological mapping and geotechnical data collected, continue to de-risk\n the project.  We are pleased to continue to achieve our Company targets\n and are currently in-line to commence production on the project by 2012\n year-end.\"\n\n\nResults from the tunnel sampling to date are outlined in the table\n below:\n\n\nTable: Tunnel Assay Results\n\n\nMain Tunnel\n\n\nChannel Samples\n\n\nBlast Samples\n\n\nFrom(m)\n\n\nTo (m)\n\n\nInterval(m)\n\n\nGold Grade (g/t)\n\n\nFrom(m)\n\n\nTo(m)\n\n\nInterval(m)\n\n\nGold Grade (g/t)\n\n\n23.5\n\n\n54.4\n\n\n30.9\n\n\n0.68\n\n\n26.6\n\n\n54.4\n\n\n27.8\n\n\n0.63\n\n\n63.8\n\n\n76.3\n\n\n12.5\n\n\n0.37\n\n\n63.8\n\n\n76.3\n\n\n12.5\n\n\n0.38\n\n\n86.7\n\n\n88.1\n\n\n1.4\n\n\n0.40\n\n\n85.5\n\n\n91.2\n\n\n5.7\n\n...

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