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The independent report on the Esperanzas Deposit (La Esperanza and Nueva Esperanza) details Measured + Indicated resources of 3,128,843 t @ 0.37 g/t Au = 37,209 oz and Inferred resources of 131,536 t @ 0.36 g/t Au = 1,504 oz, using a 0.20 g/t cutoff. Goldgroup owns 100% of 6,980 ha of concessions and has produced approximately 136,000 oz since 2013 to Sept 30, 2025. Recent operational upgrades have doubled crushing capacity to >4,200 tpd from 2,400 tpd, and annual production was 8,174 oz over the past two years to Sept 30, 2025. The company has initiated exploration of nearby targets and tailings reprocessing preparations.
Positive
- Measured+Indicated 37,209 oz Au at 0.20 g/t cutoff
- Company owns 100% of 6,980 hectares of concessions
- Total historical production ~136,000 oz to Sept 30, 2025
- Crushing capacity doubled to >4,200 tpd
Negative
- Recent annual production 8,174 oz (past two years to Sept 30, 2025)
- Inferred resource small: 1,504 oz at 0.20 g/t cutoff
11/06/2025 – 06:10 PM
Goldgroup Mining Inc. (TSXV:GGA)(OTCQX:GGAZF) has announced the filing of an updated NI 43-101 technical report on its Cerro Prieto gold project, located in Sonora, Mexico. The independent report, effective as of April 4, 2025, provides an assessment of the Mineral Resource Estimates for the Esperanzas Deposit. The company, which holds 100% ownership of the 6,980-hectare mining concessions, has been in production at Cerro Prieto since 2013, yielding approximately 136,000 ounces of gold as of September 30, 2025.
The report signals potential for increased production, supported by recent operational upgrades. A second crushing circuit installation has doubled the facility’s crushing capacity to over 4,200 tonnes per day (tpd) from a previous 2,400 tpd. This enhancement is expected to streamline operations and facilitate a significant uptick in gold production. Over the past two years, the mine has produced 8,174 ounces of gold annually, a figure the company aims to surpass with the expanded capacity.
Resource estimates outlined in the NI 43-101 report indicate Measured and Indicated resources of 3,128,843 tonnes at 0.37 g/t gold, totaling 37,209 ounces, using a cutoff grade of 0.20 g/t gold. Inferred resources are estimated at 131,536 tonnes at 0.36 g/t gold, amounting to 1,504 ounces. These figures offer a snapshot of the deposit’s potential, though the relatively small size of the inferred resource suggests further exploration is warranted to convert these resources into higher confidence categories.
Beyond current production enhancements, Goldgroup is also focusing on future growth opportunities. The company has initiated exploration activities targeting areas near the Esperanzas Deposit, and has begun preparations for tailings reprocessing. This optimization initiative is designed to further bolster gold production and maximize the value of existing resources. The company’s strategic focus on both increasing production capacity and exploring additional resource potential positions it for continued growth in the region.
The technical report is titled “Cerro Prieto Project, Heap Leach Project, Magdalena de Kino, State of Sonora, Mexico” and was prepared by qualified professionals (Rodrigo R Carneiro MSc, QP, SME Registered Member, José Antonio Olmedo MSc, P. Eng. Geo, QP, SME Registered Member and Cristian Garcia, P. Eng., QP, Registered at Engineers and Geoscientists of British Columbia) independent of the company. The full report is available for review on Sedar+.
|
Measured and Indicated as of April 04, 2025 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Cut-Off Grade Au (g/t) |
Class |
Volume (m3) |
Density (g/cm3) |
Mass (t) |
Average Au Value (g/t) |
Material Content Au (Oz) |
||||||
|
≥ 0.200 |
Measured |
1,212,375 |
2.33 |
2,826,313 |
0.370 |
33,954 |
||||||
|
Indicated |
133,750 |
2.26 |
302,530 |
0.330 |
3,255 |
|||||||
|
Measured + Indicated |
1,346,125 |
2.32 |
3,128,843 |
0.370 |
37,209 |
|||||||
|
Inferred as of April 04, 2025 |
||||||||||||
|
Cut-off Au Grade (g/t) |
Volume (m3) |
Density (g/cm3) |
Mass (t) |
Average Au Value (g/t) |
Material Au Content (Oz) |
|||||||
|
≥ 0.200 |
60,750 |
2.17 |
131,536 |
0.360 |
1,504 |
|||||||
Investors are encouraged to review the Report in its entirety for assumptions and detailed information pertaining to the mineral resource estimates and other important information.
FAQ
What NI 43-101 resource numbers did Goldgroup report for Cerro Prieto (GGAZF) on April 4, 2025?
Measured + Indicated: 3,128,843 t @ 0.37 g/t Au = 37,209 oz; Inferred: 131,536 t @ 0.36 g/t Au = 1,504 oz at 0.20 g/t cutoff.
How much gold has Goldgroup produced at Cerro Prieto (GGAZF) through Sept 30, 2025?
Approximately 136,000 oz of gold produced from 2013 through Sept 30, 2025.
How did Goldgroup increase crushing capacity at Cerro Prieto and why does it matter for GGAZF?
Goldgroup installed a second crushing circuit, doubling capacity to >4,200 tpd, supporting plans to increase gold production.
What acreage does Goldgroup hold at Cerro Prieto (GGAZF)?
Goldgroup holds 100% ownership of 6,980 hectares of mining concessions at Cerro Prieto.
Does the NI 43-101 report identify exploration or optimization opportunities at Cerro Prieto for GGAZF?
Yes; the report highlights potential at the Esperanzas area and nearby targets, and the company is preparing tailings reprocessing.
Where can investors view Goldgroup’s updated Cerro Prieto technical report (GGAZF)?
The updated NI 43-101 technical report for Cerro Prieto is available for viewing on Sedar+.
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