Key Highlights

  • The company is advancing a 26,000-metre drill program at its 100%-owned San Francisco Gold Project in Sonora.
  • Approximately 25,726 metres of diamond drilling was completed in 123 holes at Don David during the first seven months of 2026.
  • A feasibility study is progressing for the Back Forty development project in the United States.
  • A re-leach plan is being developed for the existing leach pads at Cerro Prieto.

Goldgroup Mining Inc. (NYSEAM:GORO) provided an update on technical studies, exploration programs and drilling activities across its four 100%-owned precious metals Assets in Mexico and the United States. The Vancouver based company is also listed on the TSX Venture Exchange and the Frankfurt Stock Exchange. Its update, dated November 6, 2026, described a portfolio that includes two producing mines and an advanced development project, with several initiatives under way at once.

San Francisco Restart Work

The San Francisco Gold Project in Sonora, Mexico is a formerly producing open-pit operation that the company is now evaluating for a potential restart and optimization. The company has a 26,000-metre diamond drilling program underway, which it describes as the first significant new drilling campaign at the site in many years. Early results were disclosed on September 8, 2026 and showed higher-grade intervals and broader zones of gold mineralization within areas already known to contain gold.

Alongside drilling, the company is preparing a complete technical study and mine plan. The work covers geological, structural, geotechnical, metallurgical, processing, infrastructure, Capital and operating-cost considerations. The company is also refurbishing existing processing infrastructure, including the crushing circuit and the ADR plant, in preparation for a possible restart. The company says the current work is expected to provide the technical foundation for a development decision.

Don David, Cerro Prieto and Back Forty

At the Don David Gold Mine complex in Oaxaca, Mexico, the company continues to drill around its two producing underground mines, Arista and Alta Gracia. During the first seven months of 2026, it completed approximately 25,726 metres of diamond drilling in 123 holes. That program included about 16,249 metres of infill drilling and 8,794 metres of expansion drilling, with more than 97% directed toward resource definition and expansion.

At Cerro Prieto, the company is developing a plan to re-leach the existing leach pads, with the aim of extending the asset's life. At Back Forty, a development project in the United States, the company says its feasibility study is advancing toward a possible development decision. The company describes Back Forty as one of the most significant development opportunities in its portfolio.

Risks and Uncertainties

Several risks are inherent in the company's programs. Drilling results can vary, and early indications in a drilling program may not hold across the full deposit. Technical studies may change as new geological information is incorporated, and any restart decision at San Francisco will depend on the outcome of the work now under way.

The company's update notes that additional results from the San Francisco program are anticipated soon.

The company's program also includes a restart evaluation for San Francisco, which depends on mine planning, processing and cost inputs being completed before a development decision can be made. Each of those inputs is being updated as drilling data is incorporated into the geological and resource models.

The company's four assets are at different stages of development. The San Francisco and Don David operations are either formerly producing or currently producing, while the Back Forty project is at a feasibility stage and Cerro Prieto involves a plan to re-leach existing material. Describing each asset separately helps readers understand that the company's activities range from restart evaluation to resource expansion and early planning.

Final Word

Goldgroup's update describes a portfolio in which drilling, technical work and development studies are running at several sites at the same time. The San Francisco restart work and the Back Forty feasibility study are the two most advanced items, while the Don David drilling and the Cerro Prieto re-leach plan focus on resource replacement and extended mine life. Further results and study milestones will show how those programs progress.