- 100% owned by Tara Minerals - a Tara Gold subsidiary.
- Production start-up targeted for Q3 2008.
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. The Don Ramon and Lourdes Groupings is comprised of 331 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. The purchase price was paid in full in January 2007. The conessions contains zinc/lead/silver mineralization.
The property includes an abandoned mine and extensive sulfide mineralization within a complex suite of volcanic-granitic and sedimentary rocks. Detailed surface sampling and road construction have been completed. Initial mining of ore is planned from 7 mineralized zones.
Permits needed to move towards active mining have been obtained. Purchased mining and processing equipment, capable of processing a minimum of 300 tonnes per day, is nearing assembly completion. Water source for the property has been acquired and a well to supply water to the plant is nearing completion. High voltage electrical service has been supplied to an electrical substation which will supply power to operate the Plant. Multiple markets for the sale of concentrate have also been identified.
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/t Ag. Complete assay results for all these samples were as follows:
|
Sample # |
Ag (grams) |
Pb (%) |
Zn (%) |
|
R31-1 |
772.0 |
5.50 |
|
|
R31-2 |
426.0 |
10.65 |
23.45 |
|
R36-3 |
1,426.0 |
20.16 |
27.34 |
|
R46-4 |
484.0 |
|
28.0 |
|
R46-6 |
0.436 |
2.34 |
13.98 |
|
R49-7 |
238.0 |
1.25 |
7.22 |
|
R56-9 |
340.0 |
2.20 |
11.20 |
|
R56-10 |
629.0 |
7.80 |
23.80 |
|
R56-11 |
244.0 |
1.92 |
8.60 |
|
R62-12 |
435.0 |
4.75 |
8.66 |
|
R62-13 |
408.0 |
2.77 |
10.34 |
|
R62-14 |
403.0 |
7.70 |
48.10 |
|
R70-15 |
66.0 |
2.23 |
4.55 |
|
R87-16 |
667.0 |
10.70 |
16.11 |
|
R87-17 |
356.0 |
3.0 |
6.78 |
|
R87-18 |
388.0 |
4.30 |
9.15 |
|
R87-19 |
683.0 |
4.73 |
11.90 |
|
R125-25 |
493.0 |
3.40 |
14.33 |
|
R125-26 |
942.0 |
8.80 |
36.94 |
|
R125-27 |
247.0 |
1.77 |
7.18 |
|
R125-28 |
599.0 |
2.79 |
10.20 |
|
R125-29 |
714.0 |
9.29 |
39.84 |
|
R125-30 |
256.0 |
1.69 |
7.17 |
|
R125-31 |
292.0 |
1.62 |
8.64 |
|
R125-32 |
357.0 |
3.61 |
10.82 |
|
R125-33 |
493.0 |
5.95 |
24.41 |
Tara Minerals considers this project as a high priority. Production is anticipated to begin at 300 tonens per day with a plan for an increase to 500 tonnes within the first year.