- 100% owned by Tara Minerals.
- Considering production options.
On November 16, 2006, Tara signed a definitive option agreement to acquire a 100% interest in the Don Ramon and Lourdes Groupings, located 20 km ESE of Choix, Sinaloa State, Mexico. Don Ramon and Lourdes is owned 100% by Tara Minerals Corp., a 100% owned subsidiary of Tara Gold Resources.
The Don Ramon and Lourdes Groupings is comprised of 309 hectares and lies within the same general area as the Pilar De Mocoribo Groupings, an extensive area of hydrothermal alteration that hosts numerous base and precious metal occurrences along the western part of the Northern Sierra Madre Gold Belt. The property lies 15 km SW of the historically prolific La Reforma Pb-Zn-Ag District that is now the focus of concerted exploration by Peñoles.
Tara Minerals Corp. has received preliminary information on the property including results from previous sampling programs in 1998-1999. The Company will conduct a follow-up sampling program and a more detailed property evaluation in late November. Preliminary evaluation indicates that the property lies within a larger area that hosts numerous and very-high grade Pb-Zn-Ag Carbonate (Limestone) Hosted Deposits.
Twenty six (26) samples were collected and analyzed. The results returned an average for all samples collected of 5.23% Pb, 16.74% Zn, and 492g Ag. At present spot metal prices, a tonne of ore has a gross value of $956/t.
Michael Sandidge, P.Geo, a qualified person under National Instrument 43-101 has reviewed the previous information provided and has deemed the information credible based upon knowledge of mineralization and grade of other Pb-Zn-Ag systems in the area. However, the information provided the Company is historical in nature and caution should remain until completion of the follow-up evaluation.
Because of the close proximity to Pilar De Mocoribo Groupings, Tara Minerals is assessing several options to aggressively advance both projects simultaneously. Tara Minerals is strongly considering putting both properties into production itself upon the raise of adequate capital. A modular plant can be moved to the property quickly with production possible in 2007.