newsPress Release Source: Tara Gold Resources Corp.
Tara Gold Announces New Open Pit Assay Results at La Currita Confirm Grades
Monday August 20, 9:05 am ET
CHICAGO, IL--(MARKET WIRE)--Aug 20, 2007 -- Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) (Frankfurt:T8N.F - News) is pleased to confirm new open pit assay results from the La Currita gold and silver project in Temoris, Mexico.
In May of 2007, Tara Gold signed a Joint Venture Agreement with Raven Gold Corp. giving Raven the option to earn up to 60% interest in the La Currita Groupings by making certain payments to Tara Gold, issuing 1,500,000 shares, making all remaining property payments, which have been made, and spending a minimum of $4.25 million over 30 months.
Raven Gold, as exploration operator, announced that ALS Chemex Labs confirmed assays on six chip samples for the newly developed open pit area of the La Currita Mine. David Peterson, P. Eng., on behalf of Raven Gold, took the six samples on July 19, 2007, in an effort to check the high silver and gold assays from earlier samplings.
The samples were taken in two horizontal lines, 2 meters and 5 meters below the crest of the pit. Each sample was 1 meter in length and was taken across the exposed and accessible width of the pit. Only a small portion of the total width was sampled due to recent blasting. The Sulema vein is approximately 8 meters wide and has been traced on surface for 1,100 meters along strike and is open on both ends. The central 440 meters has been explored by 5 levels spaced approximately 25 meters apart, vertically. The mineralization is continuous from surface thru the 5 levels.
David Petersen, P. Eng., shipped the samples to the Chemex Prep. Lab in Chihuahua, Mexico and they were analyzed in Vancouver, British Columbia. It was determined by Raven Gold that the open pit area should be given extreme priority, both in the North and South zones. The results are shown below:
Sample No. Au g/T Ag g/T
B648705 5.51 544
B648706 0.43 53
B648707 0.4 64
B648708 4.07 391
B648709 30.3 1,975
B6487010 7.05 979
Average 7.99 668
Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, "We continue to get results from La Currita that exceed our expectations. We look forward to the results from further exploration and sampling at La Currita."
About La Currita
The La Currita Groupings includes 4 mines, a 300 ton/day operating floatation mill and stockpiled ore. The La Currita mine was in steady production from 1983 until 1998. A diamond drilling exploration program conducted in 1998 indicated grades of 2.59 g/t Au and 200 g/t Ag. Existing mines and mineralized structures hold potential to increase tonnage through systematic exploration. The area surrounding La Currita has numerous mines and recent substantial discoveries. Adjacent to the La Currita holdings, Palmarejo recently merged with Coeur d'Alene Mines Corporation and Bolnisi Gold NL, in a transaction valued at approximately US$1.1 billion, creating the world's leading primary silver producer. In addition, about 20 miles to the SE is the 170,000 ounce/year Glamis Gold's El Sauzal gold mine and 40 miles to the North is Gammon Lake Resource's Ocampo Gold-Silver Project with a projected 270,000 gold-equivalent ounces/year.
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: https://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.
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Tara Gold Resources Corp.
Website: https://www.TaraGoldResources.com
Investor Relations: 317-218-0204
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Source: Tara Gold Resources Corp.