Goldgroup Mining Inc.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 1502, 1166 Alberni Street
Vancouver, BC
Canada V6E 3Z3
Tel No.: (604) 682-1943
Fax No.: (604) 682-5596
Web Site:
Contact Person: Sam Wong
Position: Chief Financial Officer

Company Data

Traded Market: TSX, OTC, BMV SIC
Traded Symbol: GGA, GGAZF, GGAN
Outstanding Shares: 180,557,676 approx.
52 Week High: $ 0.39
52 Week Low: $ 0.05
Present Price: Click Here








Goldgroup Mining Inc. is a Canadian-based gold production, development, and exploration Company with a significant upside in a portfolio of projects in Mexico, including a 50% interest in DynaResource de Mexico S.A. de C.V., which owns 100% of the high-grade gold exploration project, San José de Gracia located in the State of Sinaloa. The Company also operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora.

Goldgroup has a proven and highly successful mining and finance management team specializing in operations in Mexico. Goldgroup's mission is to increase gold production, mineral resources, profitability and cash flow, with a view to building a leading gold producer in Mexico.

Projects in Hand

(1) San José de Gracia Project, Sinaloa, Mexico

San José de Gracia Project is located in the northeast portion of Sinaloa State, Mexico.

The project currently consists of 34 mineral concessions covering approximately 69,000 hectares. In 2009, San José de Gracia was recognized as Sinaloa State's "Most Significant Gold Project".

In November 2011, Goldgroup announced an updated NI 43-101 compliant mineral resource estimate on the San José de Gracia project: Indicated Mineral Resource of 147,000 oz Au and an Inferred Mineral Resource of 963,000 oz Au.

The Company is targeting a resource estimate sufficient to sustain 100,000 ounces of annual gold production.

Project Overview

  • Goldgroup holds a 50% interest in DynaResource de Mexico SA de C.V. (which owns 100% of San Jose de Gracia)
  • Low sulphidation, high-grade epithermal vein system
  • Historical production of 1 million+ oz Au averaging 30-60 g/t Au
  • Horizontal tunnel access – adit mining
  • Highest quartile gold deposit

Project Development

  • San Jose de Gracia is infrastructure rich, having been a previously operating mine
  • There are substantial underground workings which could lead to lower cost development capital
  • In 2011, a 21,000 m drill program was completed on the project with over 300 holes drilled to date
  • One of the high-grade veins, San Pablo shows 550 m down plunge, 170 m strike and average true width of 5 m (Four main veins: Tres Amigos, San Pablo, La Union and La Purisima)
  • Some of the significant drilling results:





(g/t Au)
















(2) Cerro Prieto Project, Sonora, Mexico

The Cerro Prieto Project is located in the Cucurpe Mining District, Sonora, Mexico. An updated NI 43-101 Measured and Indicated and Inferred mineral resource estimate for the Cerro Prieto Project was prepared in the first half of 2013:

  • Measured Mineral Resources comprised of 1.18 million tonnes grading 1.56 g/t gold, 30.28 g/t silver, 0.15% lead and 0.33% zinc for a total of approximately 59,000 ounces of gold
  • Indicated Mineral Resources comprised of 4.92 million tonnes grading 1.03 g/t gold, 22.12 g/t silver, 0.32% lead and 0.80% zinc for a total of approximately 163,000 ounces of gold
  • Inferred Mineral Resources comprised of 5.025 million tonnes grading 0.75 g/t gold, 20.62 silver, 0.49% lead and 1.28% zinc for a total of approximately 121,000 ounces of gold
  • Cerro Prieto remains open to the north and south of the existing resource along the 7.5 kilometer extension of the mineralized shear zone, with other interesting anomalies within its existing concessions.

Project Overview

  • 100% Ownership
  • Open-pit, heap leach gold project located approx. 30 km east of main Mexico highway in northern Sonora.
  • Gold produced during the year ended December 31, 2015, was 9,263 ounces
  • Management is expecting gold production for 2016 to be approximately 15,000 ounces (target cash cost US$900/oz) with a 5% silver credit.
  • Goldgroup announced commercial production at Cerro Prieto in June 2016. The mine is now 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.

(3) El Mozo Project, Ecuador

Goldgroup has an option to earn 80% interest in El Mozo Gold Project in Ecuador. The 1,776 hectare El Mozo Project is located approximately 60 km south of the city of Cuenca in southern Ecuador. A total of 120 core holes (18,722 metres) have been drilled on the property by previous workers, focused primarily on three zones with near surface oxide gold mineralization. Preliminary metallurgical test work indicates these oxide zones are amenable to low cost heap leaching.

Goldgroup's current activities:

  • Performing an environmental assessment study
  • Working with Ecuadorian partners to develop the property to benefit the people and government of Ecuador


Management and Directors

Keith Piggott, ACSM, Chairman, President, Chief Executive Officer & Director

Developed gold mines in Australia and three Mexican gold mines, that have been in continuous production for a combined total of 32 years

Identified a two million oz gold deposit at Ok Tedi, Papua New Guinea farmed out to production by BHP

Developed a range of metallurgical technologies, including a patented dry separation technology used today in Australia and Mexico

Graduate in Mining Engineering from the Camborne School of Mines and the Executive Development Program at London Business School

Sam Wong, CA, Chief Financial Officer

Currently CFO of Chesapeake Gold

Formerly Corporate Controller for Luna Gold Corp.

Significant experience in gold exploration, development and production companies in various financial roles

Chartered Accountant who articled at Deloitte LLP in Vancouver, BC where he specialized in assurance and advisory for mining companies

David Ingram, B.Comm, MBA, Director

Javier Montaño, Director

Enrique A. Peralta, Director

Javier Reyes, Director

Gregg J. Sedun, LLB, Director

Corry Silbernagel, P.Eng, MBA, Director

Please refer to Goldgroup's website for complete biographies.

News Update

On August 15, 2016, Goldgroup Mining Inc. announced its Cerro Prieto Project production results for the second quarter ended June 30, 2016. Goldgroup produced 4,270 oz Au at Cerro Prieto in Q2 2016.

"Q2 2016 was a strong quarter operationally as Cerro Prieto has officially gone into commercial production," said Keith Piggott, chairman, president and chief executive officer of Goldgroup, "Our all-in sustaining cash cost for the quarter was $973 per ounce. We continue to work on the opportunities to lower cash costs further to our target of $900 per ounce.”


Copyright (c) 2000 - 2019 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印