Contact Information: Contact: Website: www.TaraMinerals.com Francis Biscan Jr. Phone: (630) 462-2079
Tara Minerals Announces Production Start-Up at Don Roman
| Source: Tara Minerals Corp.
CHICAGO, IL--(Marketwire - September 29, 2009) - Tara Minerals Corp. (OTCBB : TARM ), a subsidiary
of Tara Gold Resources Corp. (PINKSHEETS : TRGD ) (FRANKFURT : T8N ), is
pleased to announce that Phase One production of Lead, Zinc and Silver
concentrate has commenced at Don Roman. 6,000 tonnes of production grade
ore have been mined to date. The plant is currently processing at a rate of
100 tonnes/day. The processing rate will increase towards 300 tonnes/day as
the process is optimized and additional parallel circuits are commissioned
over the next few weeks.
Sampling of the initial mined and processed material supports the expected
combined average grade of 9% Zinc, 3% Lead and 309g Silver per tonne. An
assessment of work done to date indicates that costs for mining, mine
development, and processing are estimated at $80 per tonne of production
grade ore. Based on this, concentrate revenue per tonne, after operating
costs, is estimated at $200 to $250 per tonne.
Tara Minerals has been working with various concentrate buyers to optimize
the price the company will receive for its concentrate, which can be as
high as 95% of commodity market value depending on the composition of the
final product. Tara Minerals has delivered concentrate to the assay lab in
Torreon and is awaiting the results of a 40 element test to complete an
agreement with one concentrate buyer.
Initial mining, focused on preparing the mine for extraction of production
ore, began in July. The extraction of production ore grade material began
in early August at the rate of approximately 150 tonnes/day with another 50
tonnes/day directed at further mine development. The current state of
development provides the ability to produce a minimum of 350 tonnes of
production ore daily with an objective of having the ability to produce a
minimum of 450 tonnes/day by the end of October.
Excluding approximately 4,000 tonnes of mine preparation rock extraction,
approximately 6,000 tonnes of production grade ore have been mined to date.
The mine is currently producing Lead, Zinc and Silver ore from the
Contrapozo area above the main level. Meanwhile, the main level is being
driven further to the northeast along the mineralized zone. Additionally,
work has begun to drive a -12% decline near the main portal in order to
provide access to the next planned level below. This level will develop new
resources down-dip from that being mined currently and will provide
additional access for an underground drilling program scheduled to begin
shortly. The ore currently being mined is high sulfide material replacing
highly fractured marble. Recently, it has been understood that additional
ore grade material occurs as a cross-cutting hydrothermal breccia with
abundant sulfide minerals in the matrix. Drilling will also determine the
dimensions of this new body of mineralization. Tara Minerals has engaged
Dana C. Durgin, a qualified person and a Certified Professional Geologist,
to outline Quality Control protocols for the drilling.
Mr. Francis Biscan Jr., President of Tara Minerals Corp., stated,
"Production start-up is a milestone achievement for Tara Minerals and its
shareholders. Although we continue to optimize plant recoveries and
increase throughput, cash flow from the plant will allow us to establish
resources at Don Roman and advance surrounding properties controlled by the
Company."
About Tara Minerals Corp.
Tara Minerals is fully funded and focused on generating revenue in 2009
from a Lead, Zinc, and Silver mine on its Don Roman and Lourdes project,
located in Choix, Mexico. Tara Minerals Corp. is a US-based
growth-orientated resource company engaged in the search, acquisition,
exploration and development of high-quality non-precious & precious metals
and minerals projects with potential for economic commercial value.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein which are not historical 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.