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

Tara Gold Initiates La Millonaria Production Plant Design

Posted on: Tuesday, 14 November 2006, 09:00 CST

Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased to announce that the design of a production plant to be located at La Millonaria has been initiated. Gold and Silver Minerals Corp. has an option to earn up to a 55% interest in the La Millonaria property by making certain payments to Tara Gold, issuing 7,000,000 restricted shares, making all underlying property payments, and by investing $3.0 million in the property.

The survey for a road leading to La Millonaria has been completed and construction of the road is scheduled to begin on November 20th. This road will provide the ability to truck in the equipment necessary to build the production plant. The near term goal for the project is to process the waste dumps at La Millonaria which contain an estimated 30,000 tonnes grading of 9.702 g/t gold and 23 g/t silver.

The road will also allow for efficient access to begin exploring the 20-30 meter wide, intensely silicified and stockwork veined, east-west trending structure. This structure can be traced on surface for a minimum distance of 600 meters, with additional workings present up to 2 kilometers along strike. Scattered prospects and adits are present along the structure and selective historical mining has reported recoveries of 10 g/ton gold on average. The structure at La Millonaria appears to be strongly mineralized and hosts the potential to significantly expand the current mineralized zone and merits further sampling and exploration to further quantify the distribution of precious metals.

About La Millonaria

The La Millonaria property consists of four mining concessions that total 875 hectares, including formerly-producing gold mines. The property is located in SW Chihuahua in the Sierra Madre Occidental gold-silver belt where other gold/silver exploration projects are ongoing.

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, Pilar De Mocoribo 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. Website: www.TaraGoldResources.com E-mail IR: angie@taragoldresources.com Investor Relations: 630-551-7802  

SOURCE: Tara Gold Resources Corp.

Source: MARKET WIRE

More News in this Category