Tara Minerals has signed an agreement to buy the La Verdes gold, silver, zinc and lead project grouping.
This 2,200 hectares property has eight concessions, which is 13-18 km from the Don Roman mill and mine. Mining of the concessions in late 2010 has intersected 0.5-1.5 g/t gold, 300-600 g/t silver, 14-15% zinc, 6-8% lead, and 2.1-2.6% copper. Similar mineralized grades were obtained from the latest channel sampling. A road has been constructed between the groupings and the Don Roman mill. Now, Tara has power over 10,000 hectares close to the mill.
Tara is buying the project for $1.8 million plus relevant taxes. This grouping includes a wide area of hydrothermal alteration, which has several precious and base metal occurrences beside the west of the Northern Sierra Madre Gold Belt. The location of the property is in the southwest of the previously productive La Reforma District. This grouping has 50m of tunnels and 14 famous showings of previous works. Several mineralized layer formations have been discovered and three are being delineated well.
The Materials can be supplied from the La Verdes grouping to Don Roman mill through the recently completed road.
Now, Tara is busy in expanding the Don Roman mine and mill. The company will find out the most practical approach to advance the near term production potential of Don Roman.
Tara and Adit Resources work together to complete the Definitive Agreement with Yamana Gold, through which Yamana has an option to buy 70% interest in the Picacho gold/silver project.