Tara Minerals Corp. Announces Evaluation and Design Work Under Way at Don Ramon and Lourdes
Monday June 25, 9:58 am ET
CHICAGO, IL--(MARKET WIRE)--Jun 25, 2007 -- Tara Minerals Corp., an 82% owned subsidiary of Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) (Frankfurt:T8N.F - News), is pleased to announce that initial technical assessment work has begun at the Don Ramon and Lourdes project. Once this work is completed, Tara Minerals will be able to evaluate all options and associated costs for advancing Don Ramon and Lourdes to production.
Tara Minerals has now fully paid for its 100% interest in the Don Ramon and Lourdes Groupings high grade Zinc, Lead and Silver properties, which is in close proximity to our Pilar De Mocoribo Groupings high grade Zinc, Lead and Silver property, in which Tara Minerals is exercising an option to acquire 100% (See news releases dated October 16, 2006 & November 16, 2006). Both properties are located in Choix, Sinaloa State, Mexico.
The work includes identification of all permits needed to move towards active mining, locating water sources, assessing options and costs associated with the design of various mining systems, mill configurations and mill/pad locations. The work will also outline a parallel drill program to expedite the calculation of ore resources. Tara also continues to build upon its valued local relations by communicating Tara's strong commitment to the environment and to local services, jobs and economy. A formal public relations program is also being designed.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., stated, "We want to build Tara Minerals into a revenue generator with an aggressive growth profile while also taking a systematic approach to prove up the property with a proper exploration program. This work is designed to provide an approach to accomplish this and will outline timelines and deliverables, setting a clear path to success for our shareholders."
In addition, Tara Minerals has expanded it holdings in the vicinity of Don Ramon and Lourdes and the Pilar de Mocoribo prospects through the purchase of the Las Nuvias concession. The purchase price has been paid in full. The Las Nuvias property approximately 41 hectares in size.
About Don Ramon and Lourdes Groupings
The Don Ramon and Lourdes Groupings is comprised of 309 hectares and lies within the same general area as the 1,548 hectares Pilar De Mocoribo Groupings and 41 hectares Las Nuvias Concession, along the western part of the Northern Sierra Madre Gold Belt. The property lies 15 km SW of the historically prolific La Reforma Pb-Zn-Ag District that is now the focus of concerted exploration by Peñoles. The amount of historical work completed on these properties, and the grades measured, enables Tara Minerals to fast track these projects towards production.
Rascal@TaraTaraTara.com |
