Goldgroup Finalizes Acquisition of Fully Permitted Pinos Project

Goldgroup Mining has officially completed the acquisition of 100% ownership in the fully permitted Pinos gold and silver project, located in Zacatecas. 

The Pinos project spans 30 connected mining concessions across 3,816ha and hosts high-grade, low-sulphidation epithermal gold and silver vein systems. It also includes a larger mineralized zone with potential for open-pit mining. Historical mining from 1900 to 1942 showed ore grades up to 80 g/t gold. The project benefits from solid infrastructure, including paved roads, available power and water, and access to a skilled workforce.

"We recognized Pinos as a unique opportunity to acquire a largely de-risked, fully permitted, past-producing underground gold mine offering published resources, development potential, and exploration upside. Our team excels at recognizing quality undervalued assets and advancing them to their full potential, and we look forward to achieving this with Pinos,” says Ralph Shearing, CEO, Goldgroup.

The company now plans to update the 2018 Preliminary Economic Assessment (PEA) to reflect market conditions and explore options for production. The original PEA focused on just one vein system, which remains open in all directions. Additional vein systems on the property suggest significant potential for resource expansion. A drilling program is being prepared to explore these opportunities.