retired
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Finally here is great news from Paramount re their J/V with Tara at San Miguel.
Their results are so good that they are initiating a 43-101 report to derive a plan of further drilling to complete their picture of possible gold/silver reserves. The next step to providing a feasibility program to begin a revenue producing mine.
Exciting new assays revealed as well.All to Tara's benefit as well as Paramount's.
"Paramount Gold Commissions Independent Technical Report to Establish First Gold/Silver Resource at its San Miguel project, Mexico
Ticker Symbol: U:PGDP X:FWB:P6G
OTTAWA, Canada -- (Business Wire) --
Paramount Gold Mining Corp. (OTC:PGDP) (Frankfurt:P6G)(WKN:A0HGKQ)
is pleased to announce that full trading has commenced on the NASDAQ
OTC BB following a 30-day quiet period which expired November 27th.
¶ Paramount Gold is also pleased to announce that it has retained
the services of Dana Durgin of Delve Consultants to complete a
National Instrument 43-101 technical report on the San Miguel Project
near Temoris, Chihuahua, Mexico.
¶ The technical report will include a review of exploration work
carried out by Paramount during 2006 and a compilation of these
results. It will also include a preliminary estimate of the inferred
gold and silver resources developed to date. Thus far in 2006
Paramount has completed more than 7000 meters of diamond drilling in
approximately 45 core holes and 1100 meters of trenching. Drilling,
trenching and geologic mapping are ongoing. The technical report will
also review historical data and Paramount's mapping and surface
sampling within the project boundaries to evaluate further potential
drill targets as well as areas where follow up and in fill drilling
will be required to upgrade and expand silver and gold resources.
¶ Dana Durgin is a geologist with the requisite accreditation to
complete National Instrument 43-101 technical reports. Mr. Durgin has
been involved in mineral exploration and project development in the
US, Canada and Mexico for 35 years, including his position as Chief
Geologist, Mexico for Hecla Mining Company (HL: NYSE).
¶ Paramount CEO, Chris Crupi stated: "We are initiating the 43-101
technical report to quantify and evaluate our exploration program at
San Miguel and to gain a better understanding of how to direct our
future exploration work to unlock the great potential of this property
as efficiently and effectively as possible."
¶ At the San Miguel project, Paramount has identified strong silver
and gold mineralization along at least 6 kilometers of strike length,
however only 2.4 kilometers of this has been explored thus far through
an ongoing drill program. The project also includes the San Luis mine
where production averaged about 12 g/t gold, 350 g/t silver, and 10%
lead per tonne, before the mine closed in 1963 due to a water flood
from surface and low metal prices. Unknown quantities of high grade
ore remain in the mine. Its excellent potential has been confirmed by
a channel sample from a crosscut on the 300 level that assayed 85.2
g/t gold and 339 g/t silver across 15 meters and by drill hole SL-02
that intersected 4.0 meters of 35.5 g/t gold and 17.0 g/t silver below
this level.
¶ Paramount's ongoing drill program has intersected potentially
economic grades of gold, silver, lead and zinc mineralization in 30 of
the last 33 drill holes reported to date.
-0-
*T
Highlights include:
SJ-01, 5.0 meters of 0.0 g/t gold and 263.6 g/t silver
SL-02, 4.0 meters of 35.5 g/t gold and 17.0 g/t silver
SJ-03, 5.0 meters of 0.1 g/t gold and 873.6 g/t silver
SJ-04, 6.5 meters of 0.0 g/t gold and 552.9 g/t silver
SJ-05, 19.7 meters of 0.0 g/t gold and 263.0 g/t silver
SJ-06, 6.6 meters of 0.0 g/t gold and 354.0 g/t silver
LU-01, 16.4 meters of 0.7 g/t gold and 225.0 g/t silver with 0.85%
lead and 0.83% zinc
LU-02, 17.6 meters of 1.6 g/t gold and 279.0 g/t silver with 0.26%
zinc
LU-09, 105.4 meters of 0.26 g/t gold and 28.0 g/t silver with 0.52%
lead and 1.45% zinc
LU-11, 101.5 meters of 0.08 g/t gold and 13.5 g/t silver with 0.66%
lead and 1.93% zinc
*T
-0-
*T
Trench highlights
ZSA-04 18.6 meters of 0.0 g/t gold and 198.5 g/t silver
ZSA-05 17.1 meters of 0.0 g/t gold and 180 g/t silver
ZSA-06 5.6 meters of 0.0 g/t gold and 597.0 g/t silver
ZLU-01 66.0 meters of 0.03 g/t gold and 105.0 g/t silver
*T
¶ About Paramount Gold
¶ Paramount Gold Mining Corp. is a precious metals exploration and
development company. It is management's objective to grow Paramount
into a significant gold and precious metals producer by developing the
San Miguel and Linda projects in Mexico and Peru, and the Andean Gold
Alliance with TeckCominco in South America and by acquiring other
advanced-stage projects and/or producing mines in the most prolific
precious metal districts in the world. The Company trades on the OTC
market under the symbol "PGDP" and on the Frankfurt Exchange under the
symbol "P6G". For more information, please visit the Company's web
site at: www.paramountgold.com (now available in the following
languages: English, German, French, Spanish, and Mandarin).
¶ 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.
Contacts:
Investor Relations Contact:
Skyline Communications, 613-226-9881
Toll-free: 1-866-481-2233
tacts:
Investor Relations Contact:
Skyline Communications, 613-226-9881
Toll-free: 1-866-481-2233
The shorts are having to cover. Don't look for a correction in theshare price. Lots of covering still has to happen
OT. Sorry, not to detract from Tara which i have been in since it was AMRS and have posted from my entry point of .05 and still hold all my shares. Another stock AOX on the Canadian TSX exchange and posts by hhappy on the AOX {Andover Gold}STOCKHOUSE Board will reveal a Gold stock with great potential and only 27 million fully diluted shares.Holdings are ALL in Alaske , right now. Worth a look. Please excuse the posting -just another proential winner - don't sell Tara to buy it.
Its on Tara's web site
If we get another million shares, could see a breakout to over $1.00. If not then news next week should see a major move up-if not we may have a double top and some pull back before we move higher.
In my opinion too much going for Tara and we are still very under fundamental value.
No stock usually goes up in a straight line, but Tara sure is doing a good job. The pull back may have happened at about 10:30 this morning and now we just keep running up. Day 1 over a million traded. we said we needed 3 days over a million for brealout. 1 Down ,2 to go
The next two weeks should be very interesting for TRGD. The continuing fall of the US dollar could lead to Gold challenging the $700.00 level.
Frankfurt Market [admittably on small volume ,but with the euro growing in strngth against the US dollar actually priced Tara at 80 on Friday.
Paramount should soon after Nov 30 have new assays from San Miguel which should give Tara another bump in share price. No tax loss selling here to worry about.
A few million share days and we should be over $1.00. Not selling . But first threshold break out. We were a holder of Paramount during its run over $4.00 and it was a happy ride.With much less fundamental reasons than Tara HAS , now.
Don't be in a hurry to take profit, gang . We have many dollars to go. Financials done by early Janruary will put us over $2.00 and onto a better Exchange.
Mr. Biscan just keeps adding to the potential of TRGD. Probably has J/V partners already lined up. Although for the base metal projects and the revenue flows from the precious metal properties may decide to "open Pit" mine the properties himself.
Another source of revenue for Tara. Should be producing within 2 months. Things just keep getting better.
I believe Mr. Biscan has left the Board of Drake Resources
San Miguel GREAT news.
Low volume with buys up to .58. Still waiting for news re European trip by Mr. Biscan.
Major deal may come from there. Richard is hinting next acquisition will again be a base metal one. He has a number under consideration.
We need a couple of million share trading days to challenge our highest stock price {historically .62}
Today's release of latest assays from San Miguel just keeps adding to Tara's value.
Tara Gold Drills 6.7 g/t Gold Equivalent Over 17.6 Meters and 4.8 g/t Gold Equivalent Over 16.4 Meters at Their San Miguel Project, Mexico
2006-10-12 08:00 ET - News Release
CHICAGO, IL -- (MARKET WIRE) -- 10/12/06
Tara Gold Resources Corp. (PINKSHEETS: TRGD) and (FRANKFURT: T8N) is pleased to release the most recently reported assays from its ongoing drill program at the San Miguel Project near Temoris, Chihuahua, Mexico. The following results are the first five drill holes completed on the La Union zone (San Jose extension) and three additional holes from the San Jose zone. The five La Union holes are step out holes to the South and extend the San Jose zone approximately 275 meters in that direction. 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.
Bill Reed, Manager of Exploration, Mexico stated: "We see increased gold values, as high as 5 g/t in the drill assays received from the La Union area and this adds significantly to the silver values. The good gold and silver assays are contributing to good average grades over significant widths as drill hole LU-02 averaged 51.4 meters of 2.9 g/t gold equivalent. Drilling at La Union has extended the strike length another 275 meters to the south and we have now begun to drill north of the San Jose zone in the San Antonio area in an attempt to identify a continuous 1,400 meters of strike in a zone that is still open in all directions."
Note: Gold Equivalent is calculated at 55 to 1, (55 grams silver equal 1 gram gold)
La Union zone Highlights
LU-01 cut 45.2 meters from 13.80 meters to 59.0 meters averaging 2.25 g/t gold equivalent, including:
16.40 meters from 13.8 to 30.2 meters of 227 g/t silver with
0.73 g/t gold, and
4.25 meters from 54.75 to 59.0 meters of 6.0 g/t silver and
4.45 g/t gold
LU-02 cut 51.4 meters from 31.5 meters to 82.9 meters averaging 2.9 g/t gold equivalent, including:
17.60 meters from 31.5 to 49.1 meters of 279 g/t silver with
1.64 g/t gold, and
4.40 meters from 78.5 to 82.9 meters of 10.0 g/t silver and
4.98 g/t gold
LU-03, the best intersect was 2.65 meters from 31.90 to 34.55 of 186 g/t silver with 1.86% zinc
LU-04, the best intersect was 14.5 meters from 87.50 to 103.0 of 22 g/t silver with 1.72 g/t gold
San Jose zone Highlights
SJ-09 cut 73.9 meters from surface with intersects that assayed between 15.0 g/t silver and 126 g/t silver
SJ-10, the best intersect was 3.4 meters from 57.9 to 61.3 of 14 g/t silver, 1.47 g/t gold with 1.07% zinc
SJ-11 cut 22.5 meters from 44.9 meters to 67.5 meters of 10 g/t silver with 1.42 g/t gold and 0.93% zinc
LU-01 is a step out of approximately 275 meters to the south of SJ-08; the most southerly hole drilled to date in the San Jose zone. LU-02 is approximately 50 meters northeast of LU-01 and LU-03 is about 100 meters northeast of LU-01. Hole LU-04 is approximately 40 meters east of LU-02. SJ-09 is approximately 50 meters north of SJ-08 and SJ-10 is approximately 40 meters northeast of SJ-08.
Quality Control Person
Paramount takes detailed photos of 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 From To Width Gold Silver Lead Zinc
Hole (m) (m) (m) (g/t) (g/t) (%) (%)
SJ-09 0.00 6.60 6.60 0.00 26.00 NSV NSV
6.60 14.40 7.80 0.00 126.00 NSV NSV
14.40 31.50 17.00 0.00 23.00 NSV NSV
31.50 35.60 4.10 0.19 93.00 NSV NSV
42.20 49.50 7.20 0.20 106.00 NSV NSV
49.50 68.10 18.60 0.07 22.00 NSV NSV
68.10 73.90 5.80 0.28 15.00 0.47 1.08
80.00 92.00 12.00 0.43 0.00 NSV NSV
SJ-10 0.00 15.50 15.50 0.00 14.00 NSV NSV
15.50 24.00 8.50 0.00 41.00 NSV NSV
51.70 53.20 1.50 0.14 59.00 0.47 1.27
57.90 61.30 3.40 1.47 14.00 0.63 1.07
64.60 65.50 0.90 0.32 54.00 0.18 0.39
67.15 70.50 3.35 0.16 0.00 0.40 0.95
SJ-11 0.00 11.00 11.00 0.00 14.00 NSV NSV
18.20 27.00 8.80 0.01 80.00 0.28 0.63
44.90 67.50 22.50 1.42 10.00 0.50 0.93
170.30 171.60 1.30 2.40 0.00 0.17 0.42
LU-01 13.80 30.20 16.40 0.73 225.00 0.85 0.83
30.20 43.00 12.80 0.06 5.00 0.33 0.67
43.00 46.25 3.25 0.37 0.00 0.12 0.39
54.75 59.00 4.25 4.45 6.00
LU-02 31.50 49.10 17.60 1.64 2.79 0.19 0.26
49.10 74.00 24.90 0.01 11.00 0.15 0.45
74.00 78.50 4.50 0.57 2.00
78.50 82.90 4.40 4.98 10.00
LU-03 24.50 31.90 7.40 0.00 18.00
31.90 34.55 2.65 0.00 186.00 0.60 1.68
34.55 52.00 17.45 0.00 6.00 0.16 0.46
52.00 61.50 9.50 0.59 0.00 0.16 0.39
LU-04 63.50 71.00 7.40 0.19 43.00 0.08 0.24
72.00 83.70 11.70 0.37 0.00 0.11 0.24
87.50 103.00 15.50 1.72 22.00 0.16 0.29
109.00 111.00 2.00 0.69 0.00
LU-05 98.90 100.60 1.70 0.00 0.00 0.73 1.98
100.60 104.70 4.10 0.24 0.00 0.28 0.68
104.70 110.00 5.30 0.02 6.00 0.31 0.64
110.00 112.00 2.00 0.00 50.00 0.19 0.43
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. Paramount signed an agreement in August 2005 with Amermin S.A. de CV, a subsidiary of Tara Gold Resources, to acquire up to a 70% interest in the San Miguel project.
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, 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
I do not know the readership of the www.emergingissuer.com. site. But this was a phenominal description of Tara's potential. We shareholders know the story, but the greater awareness of the investment community can only enhance the share price.
Mr Biscan has developed and proven the worth of his business plan. Now the investment community HAS to be aware of this success and the obvious further role out of upcoming projects in base metals. Zinc is nearing a high and copper, as Mr Biscan stated has a longer range upside that has yet to be appreciated.
Good job Richard!!
A great day , but a bit suspect. Almost as if the shorts are getting squeezed quite a large move on little volume.
Not complaining. People MUST be made to realize the significance of deloitte doing the accounting. They are an extremely respected accounting firm. that they would take a junior mining company at this stage of Tara's development says volumes about their obvious confidence in management.
It will reach the eyes and ears of many fund managers and once Tara becomes fully listed will pay great dividends in the rise of the stock price.
Tara's new accounting firm is Deloitte , top firm. They have started the audit after finally geting the numbers from the Mexican firm who did nothing but delay. After they report the accounting, their numbers are given to an Auditing firm in California [do not know their name] Once the audit is done then it will be reported to SEC . Could take 2 months, at least. But Tara hopes to have filing numbers not just for 2005 but until at least June of 2006. Once fully reported wull go off pinks onto main BB and then hopefully to another Exchange to get away from MMs.
The MM. NITE and USBB have this stock in a vise!We won't see any significant rise in price until Volume gets much bigger and promo people clean out the MMS.
Looks to me like TRGD has filled the original 'gap up' to .41.Perhaps confirms that, gold or not, the stocks are technichally going to fill gaps to maintin support for the stock.
Next news ,or buying from Frankfurt, should take Tara to new highs with solid support behind the rise. We are still significantly behind the fundamental value of this play. Especcially with gold at 606.00 and silver 13.40- Who would have thought!!!
This was posted on RB
"The compliant 43-101 is at least six weeks away from being completed[add on 2 more for Murphy's Law]. My understand is that some preliminary work on Los Mitias not only confirmed old records but, similar to Paramount's findings on their JVs returned HIGHER results. But the compliant will definitely be needed to load up.
As well there are other properties in the pipeline that Mr Briscan is working on. As well Franfurt should start trading soon [perhaps next week] and management is going to Germany in a week or so.At some point Paramount should get their thumb out of their [ahem] and start producing assay reports on their current J/v's.
So we may see increased price appreciation prior to the compliant report. But huge moves up will depend on that report."
Considering the MMs tried to shake the
tree. A good consolidation day for TRGD. Helps to close the gap up and prepare for next move up.
Have been told reason for hurry to get compliant 43-101 is that a MAJOR -not Paramount- wants to J/v this property to production ASAP. Its an elephant waking up!
" Columbia has paid Tara Gold US$150,000 upon signing of the LOI and agrees to make further payments of US$4,337,500 by December 1, 2008;
(v) Columbia will acquire all interests in and to the Lluvia Property upon making the final payment to Tara Gold;
Tara Gold will receive a 20% net cash flow interest ("NCF") in the Lluvia Property, however Columbia will have a right to purchase all of Tara Gold's NCF interest in the Lluvia Property for a period of 24 months from the date of approval of this transaction by the TSX Venture Exchange, for a payment of US$250,000 for each 1% for a total of US$5,000,000 for all of Tara Gold's NCF interest in the Lluvia Property."
In other words, before Dec 08 Columbia will have paid Tara all monies necessary to pay the acquisition costs that Tara incurred-approx 5 million dollars.
But Tara retains a 20% interest in the property for which it -can receive US$250,000 FOR EACH 1% TO A TOTAL OF $250000.00x20%= US$5 million dollars profit.
The market will have to recognize TARA SOON !!!