Goldgroup Announces Completion of PEA on Caballo Blanco Indicating Robust Project Economics of 66% Pre-Tax IRR and US$284 million Pre-Tax NPV and Provides Corporate Update
Goldgroup Mining Inc. is pleased to announce initial positive results from a Preliminary Economic Assessment for the Company’s 100%-owned Caballo Blanco gold project located in the State of Veracruz, Mexico. Based on the PEA, the Caballo Blanco project is expected to generate a 66.4% pre-tax internal rate of return (“IRR”) and a US$283.8 million pre-tax net present value (“NPV”) at a 5% discount rate, over an approximate 7.5-year mine life and produce 687,000 ounces of gold and 1.3 million ounces of silver, based on the current mineable resource determined from the Whittle optimization model. A technical report entitled “Minera Cardel Resource Corp. — Caballo Blanco Gold Heap Leach Preliminary Economic Assessment” will be completed within 45 days and will be filed on SEDAR and the Company’s website.
