Tara Minerals Exercises Option on Historic Dixie Mining District
02.04.2013 | Marketwired
HENDERSON, NV -- (Marketwired) -- 04/02/13 -- Tara Minerals Corp. (OTCQB: TARM) (BERLIN: 6T3) is pleased to announce that it has exercised its option to acquire the Ponderosa Project in the Dixie Mining District of central Idaho, USA. Tara has begun the work to prioritize the known prospects, acquire production related permits and explore processing options, including contracting processing to third parties.Seven large (20+ lb) channel samples covering the width of the veins at the surface were taken from exposed pits over two known veins. The assay results from these samples are shown below.
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Gold opt Silver opt Gold grams Silver grams
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BD Pit 3 0.103 0.131 3.20 4.07
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Ontario 0.317 0.117 9.86 3.64
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BD Pit 4 Upper 8.000 18.60 248.83 578.52
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BD Pit 4 Lower 0.496 1.80 15.43 55.99
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BD Pit 5 0.376 0.98 7.22 44.17
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Berlin 0.160 1.04 4.98 32.35
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BD Pit 6 0.232 1.42 11.69 30.48
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The approximate location of the samples are shown on a map located at the web site and can be viewed here: http://taraminerals.com/English/Operations/Projects/Ponderosa/default.aspx.
The Ponderosa Project consists of 6,721 acres of both patented and unpatented mining claims. The optioned claims include previously mined veins with historic sampling of the exposed outcrops averaging 14 grams/tonne Au. Tara's initial focus is to assess the previously un-mined veins for their near-term production potential.
About Tara Minerals Corp. (www.TaraMinerals.com)
Tara currently has 100% ownership in over 39 square miles (25,770 acres) in the Don Roman district located in the northern part of the La Reforma Mining District of northeastern Sinaloa State, Mexico. Tara Minerals Corp. is focused on prioritizing and the delineation of an estimated 70+ Don Roman Gold, Silver, Zinc, and Lead mineralized structures for 2013 production. Management is creating long-term shareholder value and deploying its capital to advance its projects by enhancing resources, further outlining new discoveries/targets, and acquiring additional strategic assets. The sale of the Picacho Gold/Silver project, to Yamana Gold, brought an initial payment of $7.5 million, with a second payment of $9.8 million due in May 2013. Tara's strength in recognizing value early and strategy of reducing risk through a foundation of cash flow, positions it for low-risk value creation.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein 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. Please read the full disclaimer at www.TaraMinerals.com (http://taraminerals.com/English/General/Disclaimer/default.aspx).
Contact:
Tara Minerals Corp.
David Barefoot
(888) 901-4550
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