Canadas Goldgroup Mining said it aims to bring its Caballo Blanco gold project in Mexico to production next year, after finding significant gold deposits at the project.
The Vancouver-based company, which has a 70 percent stake at the project, said it recovered gold grades in excess of the 0.2 gram per tonne cut-off grade during drilling at the projects main gold zone the La Paila prospect.
Almaden Minerals Ltd has a 30 percent stake in Caballo Blanco, which comprises a series of oxide gold zones in the Veracruz province of eastern Mexico.
Shares of Goldgroup closed at C$1.16, while those of Almaden closed at C$3.11 Monday on the Toronto Stock Exchange.
