Goldgroup Mining Inc.
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.
(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.
(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:
(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:
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 www.goldgroupmining.com for complete biographies.
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.”