CHICAGO, October 19, 2006 (MARKETWIRE) – (Other OTC: TRGD.PK and Frankfurt: T8N) Tara Gold Resources Corp. is pleased to release the results of a trenching program in the central part of its San Miguel concession block near Temoris, Chihuahua, Mexico. The eight trenches reported are located in the San Antonio zone which is adjoining and to the north of the San Luis zone where Paramount reported drill results that included 35.5 g/t gold across 4.0 meters (see news release dated August 2, 2006). 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.
Trenches one through eight span approximately 450 meters along strike on the San Antonio zone. Trench ZSA-01 starts approximately 150 meters northwest from drill hole SL-06 (9.0 meters of 161 g/t silver) reported from the San Luis zone (see news release dated Sept. 14th 2006). Trench ZSA-02 is approximately 150 meters north of ZSA-01 while trenches ZSA-03 to ZSA-08 continue along strike to the north with approximately 50 to 75 meters between each trench.
Paramount's Manager of Exploration in Mexico, Bill Reed, commented: "Our drilling and trenching program has now identified the silver/gold zone along strike for approximately 1,400 meters which is made up of the San Jose and La Union zones to the south of San Luis and now San Antonio to the north of San Luis. The trench results at San Antonio compare very well with earlier trenches from the San Jose and La Union zones and we have used this trench data to direct the drill program in the San Antonio zone where the first set of drill assays are expected in the next 7 to 10 days."
The highlights of the trenching include:
ZSA-02 - 20.6 meters averaging 76.0 g/t silver, including 3.0 meters of 192 g/t silver
ZSA-04 - 23.6 meters averaging 156.6 g/t silver, including 10.6 meters of 200 g/t silver
ZSA-05 - 31.3 meters averaging 130.0 g/t silver, including 17.1 meters of 180 g/t silver
ZSA-06 - 36.5 meters averaging 111.6 g/t silver, including 5.6 meters of 597 g/t silver
ZSA-07 - 30.5 meters averaging 102.2 g/t silver, including 3.0 meters of 542 g/t silver
ZSA-08 - 88.4 meters averaging 50.2 g/t silver, including 1.0 meters of 1,300 g/t silver
The trenches are excavated to a depth of 2-3 meters and extend from west to east across the quartz veins and stockwork quartz veins that host silver and gold mineralization in the Guazapares mining district. The trenches were cut through thin overburden to better define drill targets and spaced approximately 50 to 75 meters apart. The geology of the trenches is mapped in detail and continuous rock chip samples of no more than one meter in length are collected from the trench walls.
Drill holes have been completed on the San Antonio zone based on the trench assays listed below and the drill will continue to move north along the mineralized zone as defined by the trenches.
|
Area |
Trench |
From |
To |
Thickness |
Gold |
Silver |
|
|
|
(m) |
(m) |
|
(g/t) |
(g/t) |
|
San Antonio |
ZSA-01 |
|
|
|
NSV |
NSV |
|
note: this trench was excavated outside of the mineralized structure |
|
|
|
|
no significant values |
no significant values |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
San Antonio |
ZSA-02 |
6.00 |
15.00 |
9.00 |
0.00 |
68.00 |
|
|
|
15.00 |
20.00 |
5.00 |
0.00 |
35.00 |
|
|
|
20.00 |
23.00 |
3.00 |
0.00 |
192.00 |
|
|
|
23.00 |
26.60 |
3.60 |
0.00 |
56.00 |
|
Average |
|
6.00 |
26.60 |
20.60 |
|
75.95 |
|
|
|
|
|
|
|
|
|
|
|
results pending for trench ZSA-03 |
|
|
|
|
|
San Antonio |
ZSA-03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
San Antonio |
ZSA-04 |
8.00 |
16.00 |
8.00 |
0.00 |
197.00 |
|
|
|
21.00 |
31.60 |
10.60 |
0.00 |
200.00 |
|
|
|
31.60 |
40.10 |
8.50 |
0.00 |
36.00 |
|
Average |
|
8.00 |
31.60 |
23.60 |
|
156.61 |
|
|
|
|
|
|
|
|
|
San Antonio |
ZSA-05 |
4.70 |
14.70 |
10.00 |
0.00 |
87.00 |
|
|
|
14.70 |
31.80 |
17.10 |
0.00 |
180.00 |
|
|
|
31.80 |
35.00 |
3.20 |
0.00 |
38.00 |
|
Average |
|
4.70 |
35.00 |
31.30 |
|
130.02 |
|
|
|
|
|
|
|
|
|
San Antonio |
ZSA-06 |
4.00 |
12.30 |
8.30 |
0.00 |
32.00 |
|
|
|
17.00 |
34.90 |
17.90 |
0.00 |
26.00 |
|
|
|
34.90 |
40.50 |
5.60 |
0.00 |
597.00 |
|
Average |
|
4.00 |
40.50 |
36.50 |
|
111.62 |
|
|
|
|
|
|
|
|
|
San Antonio |
ZSA-07 |
0.00 |
4.50 |
4.50 |
0.00 |
35.00 |
|
|
|
4.50 |
7.50 |
3.00 |
0.00 |
542.00 |
|
|
|
7.50 |
30.50 |
23.00 |
0.00 |
58.00 |
|
Average |
|
0.00 |
30.50 |
30.50 |
|
102.21 |
|
|
|
|
|
|
|
|
|
San Antonio |
ZSA-08 |
14.65 |
17.65 |
3.00 |
0.00 |
135.00 |
|
|
|
17.65 |
43.65 |
26.00 |
0.00 |
16.00 |
|
|
|
43.65 |
49.65 |
6.00 |
0.00 |
56.00 |
|
|
|
49-65 |
50.65 |
1.00 |
0.00 |
1300.00 |
|
|
|
50.65 |
56.65 |
6.00 |
0.00 |
57.00 |
|
|
|
73.85 |
89.05 |
15.20 |
0.00 |
63.00 |
|
|
|
89.05 |
101.05 |
12.00 |
0.00 |
21.00 |
|
|
|
101.05 |
103.05 |
2.00 |
0.00 |
216.00 |
|
|
|
103.05 |
107.55 |
3.50 |
0.00 |
37.00 |
|
Average |
|
14.65 |
103.05 |
88.4 |
|
50.23 |
|
|
|
|
|
|
|
|
Quality Control Person
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.
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
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. (OTC: TRGD.PK and Frankfurt: T8N)
Website: www.TaraGoldResources.com
E-mail IR: angie@taragoldresources.com
Investor Relations: 630-551-7802
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