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Production / Operations

Goldgroup Reports on Cerro Prieto Optimization Program

By The Northwire Desk — AI Analysis Oct 09, 2025 · 09:00 GGA · 0.92 Goldgroup Mining Inc.
GGA · Price

Executive Summary

  • Goldgroup Mining installed a second crushing circuit at the Cerro Prieto gold mine, doubling crush capacity to >4,500 t/d and enabling target production of >24,000 oz Au annually.
  • The company announced a re‑leaching project on existing heap leach pads, with initial production expected in Q1 2026, potentially adding up to 8,000 oz Au per year.
  • Additional corporate items: entered a 12‑month media services agreement with Market One Media Group (CDN$100k fee) and corrected prior finders‑fees disclosure for the September 2025 private placement.

Key Details

  • Crushing Capacity: Second circuit operational; total capacity now >4,500 tonnes per day (≈2× previous).
  • Production Goal: Aim to produce >24,000 oz Au annually from enhanced mine operations.
  • Re‑leaching Project:
  • Feasibility confirmed by July 2025 independent engineering study (Anddes Mexico S.A.de C.V.).
  • Targets residual gold recovery from >10 M t of material on existing heap leach pads.
  • Equipment sourcing, permitting and funding to occur in coming months; first production slated for Q1 2026.
  • Exploration Program: Ongoing work on advanced and newly discovered zones to extend mine life and potentially further increase annual output beyond the planned >24,000 oz.
  • Historical Production: Approx. 11,500 oz Au per year in recent years; company expects more than a doubling of this level through current expansion and re‑leaching.
  • Media Services Agreement:
  • Partner: Market One Media Group (Vancouver/Toronto).
  • Term: 12 months; fee CDN$100,000 plus GST.
  • Finders Fees Disclosure Update:
  • Original release misstated finder's units issued (1,086,187 vs. actual 78,013).
  • Each unit = 1 Common Share + 1 warrant (exercise price $1.05, expiry Sep 12 2027).

Notable Quotes

  • Ralph Shearing, CEO: “Successfully adding a second crushing circuit at Cerro Prieto is an important milestone towards that goal… We continue to position ourselves for significant expansion through targeted acquisitions in the mining sector.”
Read the original news release →

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