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Monday, 12th May 2008 (2485 views)

Tara Gold Resources has successfully completed a deal to acquire a new mining concession covering an extension of the San Miguel vein structure in Mexico.

The new concession, named Elyca, hosts the on-strike extension of the Clavo 99 deposit and connects the existing San Miguel concession area with the Empalme concession, creating a continuous potential strike length of approximately 2,000 metres, the company said.

Elyca itself is expected to host mineralisation similar to the high-grade intercepts previously recorded at the Clavo 99 deposit, as well as in the north-west area of the San Miguel property.

Results from the sections of the San Miguel structure adjacent to the Elyca concession have included gold grades of 2.99 g/t gold across a true width of nine metres, 3.52 g/t gold over 10.39 metres and 1.22 g/t gold over 4.82 metres.

Tara Gold is developing the San Miguel project under a joint venture deal with Paramount Gold Mining, which is conducting the exploration work at the site.

The San Miguel gold project is located in Chihuahua, northern Mexico, in the Temoris mining district. The area forms part of a prolific gold and silver belt in the Sierra Madre Occidental mountain range.

 

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