Tara Gold Finds New High Grade Veins and Expands Bulk-Tonnage Gold-Silver Target in Its San Miguel Project
Tuesday March 18, 9:24 am ET
CHICAGO, IL--(MARKET WIRE)--Mar 18, 2008 -- Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) (Frankfurt:T8N.F - News) is pleased to announce that it has received the assay results from eleven drill holes (SC-01 to SC-11) in the Montecristo Zone. This Zone is located in the northeastern part of the San Miguel project in the Guazapares Mining District, Mexico. The Montecristo Zone lies 2.7 kilometers east of the newly discovered 'Clavo 99' in the San Miguel Zone (see press release dated February 29, 2008).
Highlights of the results from Montecristo include: 31.71 meters of 1.38 g/t Au eq., 1.81 meters of 9.07 g/t Au eq., 0.77 meters of 10.72 g/t Au eq.
The San Miguel project is a joint venture between Tara Gold Resources Corp. (30%) and Paramount Gold Mining Corp. (70%). Paramount is the operator of the exploration program and provided this update.
These drill holes are located inside the Montecristo Zone which contains bulk-tonnage gold-silver targets associated with a rhyodacite dome complex. Gold and silver occur there largely as veinlets and disseminations in the silicified and brecciated margins of the intrusive bodies of the dome complex. This silicified breccia mineralization is cut by higher grade veins, some of which have old mine workings on them.
Initial rock chip sampling indicated that precious metal values extend tens of meters into the breccias away from the veins. Drilling was designed to test some of the veins and the wide breccia zones enclosing them. The eleven diamond drill holes cut a total of eight vein intercepts with an average grade of 7.83 grams per ton of gold equivalent, and an average true width of 1.0 meter; these intercepts ranged from a grade of 4.14 to 10.72 g/t of gold equivalent and from a true width of 0.8 to 1.8 meters. Some of these intercepts are from veins that were unknown before this drilling took place. The drill holes also cut five intercepts of silicified breccia with an average grade of 1.15 grams per ton of gold equivalent, and an average true width of 27.6 meters; these intercepts ranged from a grade of 0.92 to 1.38 g/t of gold equivalent and from a true width of 26 to 32 meters.
Highlights of these assay results are seen in the table below (go to www.TaraGoldResources.com for further assay details and maps):
Gold
True Gold Silver Equiv.
Hole From To Interval Width (grams/ (grams/ (grams/
Number(meters) (meters)(meters)(meters) ton) ton) ton)
------ ------ ------ ------ ------ ---- ------ -----
SC-01 24.50 41.90 17.40 15.76 0.15 7.80 0.28
SC-02 15.00 44.70 29.70 25.72 0.05 61.78 1.08
92.50 93.50 1.00 0.77 0.43 326.00 5.86
SC-03 27.20 58.70 31.50 27.28 0.06 51.00 0.92
SC-04 27.40 57.00 29.60 25.63 0.11 57.00 1.06
including: 1.65 0.16 155.00 2.75
SC-05 53.70 70.00 16.30 14.77 0.09 46.00 0.86
70.00 105.00 35.00 31.71 0.12 75.51 1.38
including: 0.91 0.18 424.00 7.25
1.81 0.49 515.00 9.07
SC-06 8.60 22.00 13.40 11.60 0.14 43.00 0.86
132.50 134.30 1.80 1.27 0.37 226.00 4.14
SC-07 0.00 38.80 38.80 31.78 0.20 10.00 0.36
including: 12.61 0.29 13.00 0.51
SC-08 8.30 26.83 18.53 14.19 0.41 16.00 0.68
44.50 46.50 2.00 1.53 0.15 79.00 1.46
SC-09 0.00 18.50 18.50 14.17 0.24 19.67 0.57
18.50 54.65 36.15 27.69 0.16 64.03 1.23
including: 0.77 0.39 389.00 6.87
1.69 0.04 14.30 0.27
24.36 0.17 43.73 0.90
0.88 0.00 438.00 7.30
90.50 91.50 1.00 0.77 10.65 3.90 10.72
SC-10 0.00 7.20 7.20 5.09 0.18 24.00 0.58
7.20 8.40 1.20 0.85 0.13 412.00 7.00
17.00 21.00 4.00 2.83 0.05 44.00 0.78
SC-11 47.00 52.00 5.00 2.87 0.03 39.00 0.63
56.80 65.00 8.20 4.71 0.03 30.00 0.55
Preliminary results of ongoing, field-based, structural and geophysical studies have identified a number of targets with the potential for larger vein and silicified breccia bodies in the Montecristo Zone. Drilling will commence next month to evaluate these targets.
Paramount has commented that, "These drill results, combined with those from our structural and geophysical studies, suggest that there is significant potential for more and larger bodies of vein and breccia mineralization in the Montecristo Zone."
Quality Control
Paramount takes detailed digital photos of the entire core before it is cut by saw to half core which is assayed at ALS Chemex's Vancouver laboratory. As part of quality assurance, quality control (QA/QC), Paramount has put into place a detailed program of periodically introducing certified standards, blanks and duplicates into the sample stream. Half-core samples are being retained on site for verification and reference purposes. |
