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Tres Amigos Vein at San José de Gracia Yields 22.19 g/t Au Over 7.8 Meters
Tres Amigos Vein at San José de Gracia Yields 22.19 g/t Au Over 7.8 Meters
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\n\n Sep. 8, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTSX: GGA\n\nVANCOUVER, Sept. 8 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company"), in coordination with DynaResource, Inc. ("DynaUSA" - "DYNR-OTCBB"), is pleased to announce that drilling from its 15,600 meter Phase II diamond drilling program at the San José de Gracia project in Sinaloa, Mexico ("San José de Gracia") continues to encounter significant mineralization yielding 22.19 g/t Au over 7.8 meters and 21.89 g/t Au over 1.75 meters. Significant assay results from the next nine holes in the program (SJG-10-148 to SJG-10-156), all drilled in the Tres Amigos vein, are presented in the table below:\n\n\n >\n\n\n"These assay results further support the recent recognition by the State Government of Sinaloa, through Mexico's Ministry of Economic Development of the San José de Gracia gold project as Sinaloa's Most Significant Gold Project for 2009, stated Keith Piggott, CEO of Goldgroup. "Following the sale of the Company's El Porvenir project (see news release July 12, 2010) which netted Goldgroup US$23.3 million, we have the cash to continue to advance both the San José de Gracia project and our 70%-owned Caballo Blanco project in Veracruz, Mexico, further supported by positive operating cash flow from our 100%- owned Cerro Colorado gold mine in Sonora, Mexico. With cash in the bank, significant assay results and record high gold prices, this is an extremely exciting time for Goldgroup shareholders," Mr. Piggott added.\nThe nine holes discussed 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 Technical Report dated March 22, 2010. Prior to Phase II drilling, the Tres Amigos vein was estimated to contain 80,000 ounces of gold and 177,000 ounces of silver, hosted in...