• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Tara Gold Resources Acquires High Grade Zinc, Silver, Lead Project

Posted on: Monday, 16 October 2006, 09:00 CDT

(PINKSHEETS: TRGD) and (FRANKFURT: T8N) Tara Gold Resources Corp. is pleased to announce that it has signed a definitive option agreement to acquire a 100% interest in the Pilar De Mocoribo mineral concessions, hereafter referred to as Pilar De Mocoribo Groupings, located 25 km NE of El Fuerte, Sinaloa State, Mexico.

The Pilar De Mocoribo Groupings will be placed into Tara Minerals Corp, Tara Gold's 100% owned subsidiary as its flagship industrial minerals project. Pilar De Mocoribo Groupings is comprised of 1,548 hectares and lies within a larger area of hydrothermal alteration that hosts numerous base and precious metal occurrences along the western part of the Northern Sierra Madre Gold Belt. The property lies 10 km SW of an advanced stage Cu-Ag-Au-Mo Project. Pilar De Mocoribo Groupings represents a high-grade Pb-Zn-Ag outlier of this project's porphyry-skarn.

Mr. Francis Biscan Jr., President of Tara Gold Resources stated, "We are excited about the economic potential of this property, as supported by our sampling below. We are now assessing several options to aggressively advance the project. The fundamentals supporting the Zinc, Lead, and Silver markets today are as strong as they ever have been. Even with record high Zinc and Lead prices, warehouse stocks in these metals continue to dwindle. We are committed to growing Tara Minerals Corp by reviewing and acquiring additional industrial minerals projects available in Mexico that meet our stringent assessment for strong economic potential."

Preliminary evaluation of the property has identified a series of parallel NE trending mineralized structures that can be traced for more than 300 meters. These mineralized structures lie within a complex suite of volcanic-granitic and sedimentary (carbonate) rocks.

Three samples were collected on the initial property along the structures and returned 25.267% Pb and 15.334% Zn over an average strike length of 8 meters and a width of 1.5 meters. Silver values ranged from 44.81g/t to 1,111.61 g/t. Complete assay results for all these samples were as follows:

 Sample #  Ag (g/t)  Au (g/t)  Cu (%)    Pb (%)    Zn (%) 00001-06  44.81     0.801     0.238     28.601    14.801 00002-06  1,111.61  0.501     0.341     1.401     18.901 00003-06  219.91    0.801     0.165     45.701    12.301 

Michael Sandidge, P.Geo, was the qualified person under National Instrument 43-101 that conducted the property visit and collected the samples. Rock samples were transported and tested at SGM (Servicio Geologico Mexicano) in Chihuahua City, Chihuahua State, Republic of Mexico.

About Tara Gold Resources Corp.

Tara Gold Resources Corp. is a growth-oriented precious metals exploration and development company with existing production plants. It is management's objective to become a significant gold and precious metals producer by re-initiating and increasing production levels at La Currita, Lluvia de Oro and Picacho, and developing the San Miguel, La Millionaria, and Las Minitas projects in Mexico. We continue to acquire other advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world. For more information, please visit the Company's web site at: http://www.TaraGoldResources.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

 Contact: Tara Gold Resources Corp. OTC: TRGD.PK, Frankfurt: T8N Website: http://www.TaraGoldResources.com E-mail: richard@taragoldresources.com E-mail IR: angie@taragoldresources.com Corporate Office: 630-462-2079 Investor Relations: 630-551-7802  

SOURCE: Tara Gold Resources Corp.

Source: MARKET WIRE

More News in this Category