ni 43-101 technical report - caballo blanco project - Goldgroup Mining

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P a g e | 5014. MINERAL RESOURCE ESTIMATESAt the request of Goldgroup Mining a resource estimate for the La Paila zone was completed on theCaballo Blanco property in Mexico by Giroux Consultants Ltd. This follows up an initial estimatecompleted by Cuttle and Giroux, March, 2010. The update is based on an additional 112 drill holescompleted since the last estimate with an effective date for this update of Jan. 16, 2012.G.H. Giroux is the qualified person responsible for the resource estimate. Mr. Giroux is a qualifiedperson by virtue of education, experience and membership in a professional association. He isindependent of both the issuer and the vendor applying all of the tests in section 1.5 of NationalInstrument 43-101. Mr. Giroux visited the Caballo Blanco property on November 7 to 9, 2011.The authors are not aware of any environmental, permitting, legal, title, taxation, socio-economic,marketing or political factors that could materially affect this mineral resource estimate.14.1 Data AnalysisAlthough collars and surveys were supplied for 152 drill holes, assays were available only up to hole11CBN-178, then 11CBN-182 and 11CBN-184. As of the effective date for this update of Jan. 16, 2011,145 drill holes had 13,527 assays for gold and silver. A combined 36,691 m was assayed as of theeffective date for this update. See Appendix I for listing of drill holes used in the resource estimate.Two hundred and fifteen Au assays reported as -1.0 were set to 0.001 g/t Au and 215 silver assaysreported as -1.0 were set to 0.1 g/t Ag. Two gaps in the assay record were found and values of 0.001 g/tAu and 0.1 g/t Ag were inserted.Project geologist, Omar Felix Saavedra, has created a three dimensional solid model based on themineralized silica breccia as identified in drill logging. La Paila is considered a high sulphidationepithermal system with fine gold hosted within a massive silica breccia alteration of an andesitic host.The solid is shown below.Fig. 12. Isometric view looking northwest showing the mineralized solid, drill hole traces and surfacetopography at La Paila. (Giroux, 2012)Goldgroup Mining Inc.Caballo Blanco Project - La Paila Resource update Feb, 2012
P a g e | 51Fig. 13. Isometric view looking east showing the mineralized solid, drill traces and surface topography atLa Paila. (Giroux, 2012)Drill hole assays were back tagged if inside or outside this solid. The statistics for gold and silver insideand outside the mineralized solid are tabulated below.Table 9: Assay statistics for Au and Ag inside and outside Mineralized Solid - La PailaInside Mineralized Solid Outside Mineralized SolidAu (g/t) Ag (g/t) Au (g/t) Ag (g/t)Number of Assays 5,097 5,097 8,430 8,430Mean Value 0.596 2.67 0.056 1.03Standard Deviation 0.705 18.69 0.090 18.26Minimum Value 0.001 0.05 0.001 0.05Maximum Value 11.10 1106.0 3.22 1085.0Coefficient of Variation 1.18 7.00 1.62 17.75The grade distributions for gold and silver were examined both inside and outside the mineralized solid.Lognormal cumulative frequency plots were used to evaluate the distribution of metals. In each case foreach variable multiple overlapping lognormal populations were found. The populations are summarizedbelow.Table 10: Summary of Gold Populations present in Mineralized SolidPopulation Mean Au(g/t)Percentage ofTotal DataNumber ofAssays1 6.98 0.31 % 162 2.78 2.20 % 1123 0.44 83.84 % 4,2644 0.27 7.73 % 3935 0.07 4.18 % 2136 0.009 1.75 % 89Population 1 representing 0.31% of the total data had a mean of 6.98 g/t Au and represents erraticoutliers. These samples are widely distributed through the deposit and should be capped. An effectiveGoldgroup Mining Inc.Caballo Blanco Project - La Paila Resource update Feb, 2012
Page 3 and 4: P a g e | 313. MINERAL PROCESSING A
Page 5 and 6: P a g e | 5Table # LIST OF TABLES P
Page 7 and 8: P a g e | 7gold rich mineralization
Page 9 and 10: P a g e | 92. INTRODUCTIONThis tech
Page 11 and 12: P a g e | 114. PROPERTY LOCATION AN
Page 13 and 14: P a g e | 13Fig. 2 Veracruz State L
Page 15 and 16: P a g e | 15Pursuant to a memorandu
Page 18 and 19: P a g e | 186.1 Resource HistoryOne
Page 21 and 22: P a g e | 21Fig. 4. Regional Geolog
Page 23: P a g e | 23Photo 2. Typical ‘vug
Page 27 and 28: P a g e | 27Fig. 7. La Paila Geolog
Page 29 and 30: P a g e | 299. EXPLORATIONWork on t
Page 31 and 32: P a g e | 31completed on 100 metre
Page 33 and 34: P a g e | 33Fig. 10. New Induced Po
Page 35 and 36: Page | 35Table 3: Areas drilled in
Page 37 and 38: P a g e | 37HOLE_ID East_27/14 Nort
Page 39 and 40: P a g e | 39HOLE_ID East_27/14 Nort
Page 41 and 42: P a g e | 41Fig. 11. 2010-2011 Dril
Page 43 and 44: P a g e | 4311.3 Sample Security -
Page 45 and 46: P a g e | 4512. DATA VERIFICATION12
Page 47 and 48: P a g e | 4713. MINERAL PROCESSING
Page 49: P a g e | 49A total of twenty five
Page 53 and 54: P a g e | 5314.3 VariographyPairwis
Page 55 and 56: P a g e | 55range. For blocks not e
Page 57 and 58: P a g e | 57allow the meaningful ap
Page 59 and 60: P a g e | 59Table 19: Inferred Reso
Page 61 and 62: 10511512513514515516517518519520521
Page 63 and 64: P a g e | 6315. ADJACENT PROPERTIES
Page 65 and 66: P a g e | 65A total of twenty five
Page 67 and 68: P a g e | 6719. DATE AND SIGNATURE
Page 69 and 70: P a g e | 69I, G.H. Giroux, of 982
Page 71 and 72: P a g e | 71APPENDIX IList of Drill
Page 73 and 74: P a g e | 73HOLEEASTINGWGS 84/14NOR
Page 75 and 76: P a g e | 75HOLEEASTINGWGS 84/14NOR
Page 77 and 78: P a g e | 77Goldgroup Mining Inc.Ca
Page 79: P a g e | 79Goldgroup Mining Inc.Ca
Page 86 and 87: P a g e | 86Hole NumberZone Rock De
Page 92 and 93: P a g e | 92Zone Rock Depth Sample
Page 94 and 95: P a g e | 94HOLE_ID x_27/14 y_27/14
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P a g e | 100APPENDIX VSelected Dri
Page 102 and 103:
P a g e | 102Drill Hole Mineralizat
Page 104 and 105:
P a g e | 104Drill Hole Mineralizat
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P a g e | 106Goldgroup Mining Inc.C
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