CHICAGO, IL -- (MARKETWIRE) -- 07/12/07 --
Tara Gold Resources Corp. (PINKSHEETS: TRGD)
(FRANKFURT: T8N) and Raven Gold Corp are pleased to announce that a Phase 1
Exploration Program has been commissioned at 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.
La Currita covers a claim area of approximately 78 hectares, a single zone
of mineralization, the Sulema vein, some 14 meters wide, has been
sporadically mined and partially explored. In the past, mining was
selective and restricted to only a portion of the vein. The intent of this
new program is to explore the full width of the mineralized zone and which
may also expose high grade structures that can exist in vein type deposits.
Exploration will consist of line cutting and survey control, geological
mapping, geochemical soil sampling and rock chip sampling, geophysics
(magnetometry and IP), pitting of anomalous areas and follow-up diamond
drilling; plus mapping and sampling of the existing pillars left from
previous mining will be combined to delineate positive tonnage and grade.
The object is to ascertain if current metal prices can support open pit
methodology and an expanded mining width with an increased tonnage,
delivering even lower costs which are associated with bulk mining methods.
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: 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
E-mail: president@taragoldresources.com
Corporate: 630-462-2079
Investor Relations: 317-218-0204
Investor Relations Website: www.sfpindy.com
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