Goldgroup Mining Launches Exploration Program at Cerro Prieto Gold Mine
Vancouver, British Columbia -- March 26, 2025 -- NewsGenie -- Goldgroup Mining Inc. (TSX-V: GGA, OTC: GGAZF) has initiated a high-impact exploration program at its 100%-owned Cerro Prieto gold mine in Sonora, Mexico. The program includes approximately 6,000 meters of diamond core drilling, an induced polarization geophysical survey, and surface trenching.
Drilling is focused on the Nuevo Esperanza and Reyna zones, near the producing Esperanza zone. The Esperanza zone remains open to the north and west. Test drilling will also assess reactivating the previously mined South Pit, while surface trenching and geophysical surveying will further examine newly discovered mineralized zones south of the mine.
CEO Ralph Shearing stated that the upside potential at Cerro Prieto is exciting, offering expansion and growth opportunities. He emphasized Cerro Prieto's central role in the company's strategy to become a leading intermediate gold producer.
The Cerro Prieto mine, in production since 2013, currently produces about 11,500 ounces of gold annually. The exploration program aims to delineate additional resources to increase annual production. The company is installing a second crushing circuit, expected to be completed by the end of April, to target at least 24,000 ounces annually.
Additionally, the company is in the final engineering and planning stage of re-leaching existing leach pads to recover residual gold. These pads contain over 10 million tons of crushed mineralized rock with an estimated grade of 0.40 g Au/tonne. Internal testing indicates potential recoveries of 40%. Estimated capital costs and economics for this project will be available upon completion of an independent engineering study, expected before the end of April 2025.
Cerro Prieto covers a 4,300-hectare area along a shear zone, hosting low-sulphidation epithermal quartz-gold veins and mineralized stockwork targets.
Goldgroup Mining is a Canadian-based mining company that owns and operates the Cerro Prieto heap-leach gold mine. The company is led by individuals with expertise in mine development, corporate finance, and exploration in Mexico.
Ralph Shearing, PGeol. (Alberta), a qualified person under NI 43-101 and CEO of the Company, has reviewed and approved the technical disclosure in this news release.