CHICAGO, IL -- (MARKET WIRE) -- 01/24/08 -- Tara Gold Resources Corp. (PINKSHEETS: TRGD) and (FRANKFURT: T8N) is pleased to announce assay results from its first four drill holes in the San Miguel vein of its San Miguel project, in the Guazapares Mining District, Mexico. Drill holes SM-01 TO SM-04 were drilled 40-50 meters apart and were designed to intercept the previously un-drilled San Miguel structure approximately 70 meters below the surface. The San Miguel structure is exposed for at least 1 kilometer and appears to be open along strike to the northwest.
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.
The area in which these four holes were drilled was selected because of very good grades in 12 surface channel samples across the vein, which averaged 9 meters at 4.22 g/t Au Eq. This area also has several shallow old mine workings, which had high precious metal grades according to local miners. In addition, geologists quite familiar with the nearby Palmarejo deposit have said that the veins here have an appearance virtually identical to those at Palmarejo. The assay results tabulated below support that suggestion. These results are particularly exciting because the ratio of gold to silver is significantly higher than at other portions of the property.
Highlights of these assay results are (see table at www.taragoldresources.com for further details and maps):
Paramount Gold and Silver Corp. has commented that, "These results from the first four drill holes in the San Miguel Vein confirm the continuity of the gold and silver mineralization from the surface down to at least 70 meters of depth. These precious metals grades and thicknesses are consistent with and may represent the discovery of a high-grade ore shoot similar to those at nearby Palmarejo. The geological characteristics of the structure strongly suggest that these first four holes are in the upper levels of the vein system and that similar mineralization may persist to a depth of 200 meters or more."
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.
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, Las Minitas and Curcurpe 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.
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.
--------------------------------------------------------------------------------Contact: Tara Gold Resources Corp. Website: www.TaraGoldResources.com Francis R Biscan Jr Phone: 630-462-2079 E-mail: president@taragoldresources.com
01/25/2008 (05:48 ET) Pinnacle Digest: Assay Results from San Miguel Project Draw Attention - M2 Communications
01/24/2008 (14:49 ET) Tara Gold Resources Announces High Grade Gold and Silver Results From the First Holes in Its San Miguel Vein in Mexico - Market Wire
12/04/2007 (12:41 ET) TRGD: Filed New Form DEFR14A, Revised Definitive Proxy Statement - Edgar
12/03/2007 (09:55 ET) TRGD: Filed New Form DEF 14A, Definitive Proxy Statement - Edgar
11/27/2007 (11:50 ET) Significant Gold-Silver System Discovered at Las Minitas, Mexico - Market Wire
11/13/2007 (10:50 ET) Tara Gold Increases Las Minitas Project Holdings to 79 Square Kilometres and Signs Definitive Agreement With Pershimco - Market Wire
11/13/2007 (10:44 ET) Pershimco Extends Land Position at Las Minitas in Sonora Mexico and Signs Definitive Agreement With Tara Gold - CCNMatthews
11/08/2007 (15:25 ET) TRGD: Filed New Form PRE 14A, Preliminary Proxy Statement - Edgar
11/06/2007 (13:49 ET) Tara Gold Announces Assay Results From San Miguel Drill Program - Market Wire
11/01/2007 (06:04 ET) TRGD: Filed New Form 10QSB, Quarterly Report - Edgar
company profile
Tara Gold Resources Corp. is a precious metals exploration and development company with existing production. It is management's objective to become a significant gold and precious metals producer by increasing current production at La Currita and developing San Miguel and La Millionaria projects in Mexico, and by acquiring other advanced-stage projects and/or producting mines in one of the most prolific precious metal districts in the world. ... MORE INFO
CONTACT: Francis R. Biscan Jr. (CEO) Tara Gold Resources Corp. 2162 Acorn Court WHEATON, IL 60187 P: (630) 462-2079 F: (630) 462-1224 Company Home Page | Email
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