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Tara Gold Drills 7.07% Zinc, 2.38% Lead, 36 g/t Silver With 0.36 g/t Gold Across 13.5 Meters and 1,235 g/t Silver Across 0.40 Meters at San Miguel
CHICAGO, November 8, 2006 (MARKETWIRE) – (Other OTC: TRGD.PK and Frankfurt: T8N) Tara Gold Resources Corp. is pleased to release the most recently reported assays from its ongoing drill program at the San Miguel Project near Temoris, Chihuahua, Mexico. In August, 2005, Tara Gold Resources signed an agreement with Paramount Gold Mining Corp. giving Paramount the right to earn up to a 70% interest in the project by spending US$2.5 million, delivering 700,000 shares, and making various payments to Tara Gold.
The following results include a further eight drill holes completed on the La Union zone (San Jose extension) and one more hole from the San Jose zone. The eight La Union drill holes are step outs to the South and extend the La Union zone approximately 500 meters in that direction.
Drill hole LU-09 and LU-11 intersected 100 meters plus of polymetallics while other drill holes continue to intersect high grade silver of 1,235 g/t across 0.40 meters in drill hole LU-12 and 189 g/t silver across 17.5 meters in hole LU-07. The best gold intersect was 2.84 g/t across 14.6 meters in hole LU-06 while drill hole LU-11 cut 13.5 meters from 105.0 to 118.5 of 7.07% zinc, 2.38% lead, 36 g/t silver with 0.36 g/t gold.
Bill Reed, Exploration Manager for Mexico said "The preliminary conclusions from the long polymetallic intercepts in drill hole LU-09 and LU-11 suggest the intersection of a chimney. The increased base metal values in most of these drill holes to the south may also indicate we are lower in the mineralized system in that direction. It is also noteworthy that drill hole LU-09 and LU-11 had long intersects of over 100 meters and they bottomed in mineralization, indicating this zone is open to depth. Also important is the 14.6 meter intercept of 2.84 g/t gold in drill hole LU-06. Drilling at La Union has extended the strike length another 500 meters to the South and we are now drilling North of the San Jose zone in the San Antonio area where we have confirmed the zone with trenches. With our drill and trench results at La Union, San Jose, San Luis and San Antonio, we have now identified a continuous zone over a considerable length of approximately 2.4 kilometers (2400 meters) and it remains open in all directions."
Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, "With Zinc and Lead prices trading near all time highs, these recent results suggest that along with good precious metal values, there may also be significant value added to the deposit with these encouraging base metals results. As Tara Gold shareholders know, because of the strength of these metals, Tara has begun to acquire high grade Zinc, Lead, Silver projects in Mexico (See release on October 16, 2006). Because of our belief in the long term pricing strength that these metals have, we continue to seek out these types of projects."
La Union zone Highlights
LU-06 cut 16.3 meters from 42.1 to 58.4 meters of 2.44% zinc, 1,26% lead with 13.0 g/t silver and 14.6 meters from 58.4 to 73.0 meters of 2.84 g/t gold with 0.56% zinc and 0.29% lead;
LU-07 cut 17.5 meters from 31.0 to 48.5 meters of 189 g/t silver with 0.87% zinc and 0.26% lead;
LU-09 cut 105.35 meters from 22.15 to 127.50 meters averaging 1.45% zinc, 0.52% lead, 28 g/t silver and 0.26 g/t gold;
LU-11 cut 101.5 meters from 29.50 to 130.55 meters averaging 1.93% zinc, 0,66% lead, 13 g/t silver with 0.08 g/t gold including 13.5 meters from 105.0 to 118.5 meters of 7.07% zinc, 2.38% lead, 36 g/t silver with 0,36 g/t gold;
LU-12 cut 0.40 meters from 24.00 to 24.40 meters of 1,235 g/t silver with 0.49% zinc and 0.19% lead.
San Jose zone Highlights
SJ-12 cut 51.9 meters from 40.60 meters to 92.50 meters averaging 0.74% zinc, 0.35 % lead and 0.27 g/t gold.
Drill Hole locations
A drill hole and trench location map can be found at Paramount's web site www.paramountgold.com
LU-06 is a step out of approximately 50 meters to the south of LU-01 (59.0 meters averaging 2.25 g/t gold equivalent) see Oct 12, 2006 news release:
LU-07 steps out a further 45 meters south of LU-06
LU-12 steps out a further 150 meters south of LU-07
LU-13 steps out a further 80 meters south of LU-12
LU-08 steps out a further 80 meters south of LU-13
LU-11 steps out a further 25 meters south of LU-08 on the second fence line
LU-09 steps out a further 25 meters south of LU-11
LU-10 steps out a further 40 meters south of LU-09 and is the southern most hole thus far.
In the San Jose area, SJ- 12 is located 50 meters south of SJ-11.
Quality Control Person
Paramount takes detail photos of all the core before it is cut to half core which is assayed at ALS Chemex's Vancouver laboratory. As part of quality assurance, quality control (QAQC), a blank (sterile) sample is submitted every 20th sample. Later, pulps from a number of intervals will be renumbered and pulps from known standards will be inserted between them in numerical order. These will then be submitted for reanalysis. The results will then be compared to the original values reported, and the known values of the inserted standards. Half-core samples have been retained on site for verification and reference purposes.
C.W. (Bill) Reed, B. Sc. Mineralogy, is acting as qualified person and has prepared the detail and review with respect to this news release.
Drill Hole From To Width Gold Silver Gold Lead Zinc
(m) (m) (m) (g/t) (g/t) equivalent (%) (%)
LU - 06
0.00
7.00
7.00
0.00
31.00
0.52
42.10
58.40
16.30
0.00
13.00
0.23
1.26
2.44
58.40
73.00
14.60
2.84
7.00
2.96
0.29
0.56
73.00
83.70
10.70
0.20
0.00
0.20
115.00
118.50
3.50
2.41
0.00
2.41
LU - 07
31.00
48.50
17.50
0.03
189.00
3.18
0.26
0.87
58.00
71.00
13.00
0.86
0.00
0.86
87.00
91.50
4.50
0.64
3.00
0.68
LU - 08
0.00
8.00
8.00
0.04
50.00
0.88
8.00
21.20
13.20
0.04
19.00
0.35
78.00
85.20
7.20
0.44
4.00
0.50
LU - 09
22.15
57.00
34.85
0.13
60.00
1.12
0.49
1.26
57.00
67.75
10.75
0.01
10.00
0.18
0.47
1.14
67.75
72.00
4.25
0.27
26.00
0.71
0.88
1.91
72.00
86.70
14.70
0.01
4.00
0.07
0.13
0.41
86.70
121.05
34.85
0.59
12.00
0.80
0.46
1.69
121.05
127.50
6.45
0.19
15.00
0.45
1.08
2.10
127.50
141.30
14.00
0.00
4.00
0.06
0.25
0.71
Average
22.15
127.50
105.35
0.26
28.00
0.73
0.52
1.45
LU - 10
46.70
59.00
12.30
0.00
37.00
0.63
71.80
81.20
9.40
0.00
65.00
1.08
110.65
112.65
2.00
0.00
12.00
0.19
1.00
1.44
115.55
116.00
0.45
0.21
40.00
0.88
2.40
7.95
LU - 11
29.50
64.50
35.00
0.02
17.00
0.30
0.37
0.93
64.50
75.05
10.55
0.02
3.00
0.06
0.17
0.42
75.05
105.00
29.95
0.05
6.00
0.15
0.49
1.41
105.00
118.50
13.50
0.36
36.00
0.96
2.38
7.07
118.50
130.55
12.05
0.02
6.00
0.13
0.46
1.68
Average
29.50
130.55
101.50
0.08
13.50
0.30
0.66
1.93
LU - 12
24.00
24.40
0.40
0.20
1235.00
20.80
0.19
0.49
24.40
53.95
29.55
0.02
3.00
0.09
0.27
LU - 13
30.35
34.05
3.70
0.06
28.00
0.52
0.62
1.29
34.05
62.00
27.95
0.02
8.00
0.15
0.13
0.24
62.00
66.35
4.35
0.16
7.00
0.27
0.64
0.82
SJ - 12
0.00
9.00
9.00
0.00
21.00
0.34
28.15
30.30
2.15
0.04
70.00
1.20
40.60
45.30
4.70
0.12
7.00
0.24
0.76
1.59
56.00
72.00
16.00
0.11
4.00
0.11
0.35
0.71
72.00
92.50
20.50
0.58
2.00
0.58
0.43
0.96
97.35
105.20
7.85
0.34
0.00
0.34
About San Miguel
San Miguel is currently comprised of 16 concessions covering an estimated 6 kms strike of silver and gold mineralization. It is located in Chihuahua, Mexico and lies in the Guazapares mining district, part of the gold-silver belt of the Sierra Madre Occidental.
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: taragoldresources.com.
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