Vancouver, British Columbia (September 29, 2010)
-- Goldgroup Mining Inc. ("Goldgroup" or the "Company"), in
coordination with DynaResource, Inc. ("DynaUSA"--"DYNR-OTCBB"), is
pleased to announce that, further to the news release dated September
20, 2010, a new multi-drill 18,500 metre diamond drilling program has
commenced at the San José de Gracia* high grade gold project ("San José
de Gracia") in Sinaloa, Mexico.
Piggott, CEO of Goldgroup stated, "We have been extremely successful
with the drilling programs at San José de Gracia and I'm especially
pleased with the recent results from the Tres Amigos zone where we
recently announced results of 105.51 grams per ton over 1.75 metres.
This next round of drilling will give us the opportunity to further
explore many new targets in San José de Gracia's high grade multi-vein
system. We also anticipate the release of an updated NI 43-101 mineral
resource estimate early in Q4".
San José de Gracia District, covering 99,500 hectares is a high-grade
advanced exploration project hosting an NI- 43-101 compliant mineral
resource estimate, as contained in the technical report dated March 22,
2010. The estimated mineral resource is hosted in four separate veins:
Tres Amigos, San Pablo, La Union area and the La Purisima trend.
Historically, in excess of one million ounces of gold have been produced
from the property from high-grade veins grading between 30.0 g/t Au to
60.0 g/t Au. Since Goldgroup began its earn-in on San José de Gracia,
188 diamond drill holes have been completed at an average depth of
235m. Goldgroup, in coordination with DynaUSA, is targeting a mineral
resource estimate capable of sustaining annual production of 100,000
ounces of gold from San José de Gracia.
complete summary of assay results from the last round of drilling and a
map of the San José de Gracia property detailing the relative locations
of the drill holes used in estimating the current NI 43-101 mineral
resource and future proposed drilling will be posted on the Company's
website under "Projects -- San José de Gracia" at
San José de Gracia drilling program is under the direct supervision of
Kevin Sullivan, B.Sc., MAusIMM, contracted by Mineras de DynaResource
S.A. de C.V., an affiliate of DynaUSA, and the operating entity at San
José de Gracia. Mr. Sullivan is the Company's Vice President,
Exploration and is a qualified person, as defined by NI 43-101. Mr.
Sullivan has reviewed the technical information contained in this news
release and reviewed the release.
is a well-funded Canadian-based gold production and exploration Company
focused exclusively on Mexico, targeting growth in gold production,
mineral resources, profitability and cash flow from a portfolio of
production, development and exploration stage projects. The Company
owns and operates the Cerro Colorado Gold Mine in Sonora, Mexico. All
gold production is un-hedged and the Company expects to produce
approximately 25,000 ounces of gold in 2010. The Company's property
portfolio includes its interests in the Caballo Blanco project in
Veracruz and the San José de Gracia high-grade gold project in Sinaloa.
Goldgroup is lead by a team of highly successful and seasoned
individuals with extensive expertise in exploration, corporate finance
and mine development in Mexico.
For further information on Goldgroup and San José de Gracia, please visit www.goldgroupmining.com
Keith Piggott, CEO
David Fry, Corporate Development