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wieder NEWS !! Provides for significant expansion of the gold mill at no dilutive cost to TARA. "Tara Gold Partners La Currita for Mill Expansion Ticker Symbol: U:TRGD X:FRANKFURT:T8N CHICAGO, IL -- (MARKET WIRE) -- 05/31/06 http://at.marketwire.com/accesstracking/AccessTrackingLogSer… Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased to announce that it has entered into an Option Agreement on the La Currita Groupings, including the La Currita Mill, with Raven Gold Corp. Raven Gold Corp has the option to earn up to 60% interest in the La Currita Groupings by making certain payments to Tara Gold, issuing 750,000 shares, making all remaining property payments and by spending a minimum of $3.5 million over the next 36 months. In addition to the capital investment on exploration and mill expansion outlined, Raven Gold Corp is also required to expand the La Currita Mill to a minimum of 4,000 tons per month before earning 40% and a minimum of 8,000 tons per month before earning 60% interest. The property includes 4 mines, a 150 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 109,000 tons of 2.59 g/t Au and 200 g/t Ag. The area surrounding La Currita has numerous mines and recent substantial discoveries. Adjacent to the La Currita holdings, Palmarejo has announced an inferred resource of 3.1 million ounce gold equivalent on their property. 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. Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, "We welcome Raven Gold as a partner to expand and operate the La Currita Mill. Growing cash flow from the mill will benefit our shareholders and provide non-dilutive cash to continue to build our project portfolio with high quality gold and silver prospects." About Tara Gold Resources Corp. Tara Gold Resources Corp. is a growth-oriented 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 our current production at La Currita, re-initiating mining and production at Lluvia de Oro, 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://TaraGoldResources.com.. " |
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| aus der Diskussion: | TARA GOLD wird Paramount überflügeln |
| Autor (Datum des Eintrages): | chrisbo.kol (31.05.06 14:51:48) |
| Beitrag: | 83 von 1,753 (ID:21889641) |
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