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Friday, 25th January 2008 (4395 views)

Assay results from the first four drill holes in a vein at Tara Gold Resource's (TGR) San Miguel project in Mexico have revealed high-grade gold deposits, the exploration company has confirmed.

The drilling followed the discovered of "very good grades" in 12 surface samples taken from the vein, the company said.

Several old shallow mining works were also observed in the area and local miners confirmed the recovery of high-grade metals there.

Findings from the four holes reveal values of up to 13.93 g/t gold across a width of 3.6 metres.

Paramount Gold and Silver, TGR's joint venture partner at San Miguel, said the results confirm that gold and silver mineralisation extends at least 70 metres below the surface.

San Miguel's geological characteristics, which are similar to that of the nearby Palmarejo project, means mineralisation could potentially extend to a depth of 200 metres or more, it added.

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

 

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