Welcome!

News Feed Item

Tara Minerals Provides Review and 2013 Outlook

HENDERSON, NV -- (Marketwire) -- 01/16/13 -- Tara Minerals Corp. (OTCBB: TARM) (BERLIN: 6T3) is pleased to provide a corporate update regarding its Gold, Silver, Zinc, and Lead properties located in Mexico.

Work completed in 2012 has identified an optimal mineralized Silver structure for initial mill feed. Work plans for 2013 have been outlined and work will begin to further delineate mill feed specifics, including a mine development plan, tonnage, grade, and metallurgy, in preparation for 2013 production. This work will also drive long-term exploration efforts within the district.

Tara currently has 100% ownership in over 39 square miles (25,770 acres) in the Don Roman district located in the northern part of the La Reforma Mining District of northeastern Sinaloa State, Mexico. The objectives include the prioritization and the delineation of an estimated 70+ Gold, Silver, Zinc, and Lead mineralized structures located within the Don Roman district.

Based on historical and current workings, surveys, sampling, and Tara's previous mining from the "El Sapo" Manto at Don Roman, Tara believes the district holds the potential for a substantial amount of tonnage at economically favorable grades. With Tara controlling a large portion of the district already, the opportunity exists for long term organic growth.

A strategically positioned, 100% owned production plant, which was built to scale up capacity as mines are developed, currently has a capacity of 360 tonnes per day. Planned engineering and metallurgical work should define what modifications or potential enhancements are necessary to ultimately achieve commercial production.

After an initial payment of $7.5 million, a second payment of $9.8 million is due from Yamana Gold in May 2013 from the sale of the Picacho Gold/Silver project. This is expected to be more than sufficient to achieve commercial production at Don Roman and aggressively expand production or acquire additional near-production projects.

Mr. Francis Biscan Jr., President of Tara Minerals, stated, "Our technical team has developed a work plan designed to lead to commercial production in 2013. Our primary focus will be on achieving Don Roman production and the acquisition of additional near-production projects."

Mineralization at the district falls into two categories. The first is the skarn type mineralization and the second type is moderately to steeply dipping Gold-bearing quartz veins in shear zones. Zinc skarns commonly occur in continental settings associated with subduction and extensional faulting, which is the case in Sinaloa. These skarns are generally high grade with Zinc/Lead grades of 10 to 20% and Silver in the 30 to 300 g/t range. It is very common to find substantial Silver/Zinc/Lead skarn deposits peripheral to porphyry Copper systems. The Don Roman district mineralization appears to fit these criteria in terms of metal grades, it is peripheral to a strong porhpyry system and is likely genetically related to the nearby Santo Tomas porphyry Copper.

In an effort to achieve 2013 commercial production at Don Roman, and minimize shareholder dilution, Tara completed the sale of its Picacho Gold/Silver project to Yamana Gold for $35.6 million. $7.5 million was forwarded by Yamana upon closing and a $9.8 million payment is due in May 2013. Yamana will also pay Tara an additional $1 million for every 100,000 ounces defined by the 60 month anniversary and a final installment payment of $4.3 million on the sixth year anniversary. The payments for the measured, indicated, and inferred ounces defined will be capped at $14 million. If no Gold is defined on the property by the 36 month anniversary, Yamana will make an advance payment of $3 million.

The current work is focused on achieving Don Roman production and will include delineation/drilling of the known structures. All work will be conducted in a NI 43-101 compliant manner.

About Tara Minerals Corp. (http://www.TaraMinerals.com)

Tara Minerals Corp. is focused on prioritizing and the delineation of an estimated 70+ Gold, Silver, Zinc, and Lead mineralized structures for 2013 production. Management is creating long-term shareholder value and deploying its capital to advance its projects by enhancing resources, further outlining new discoveries/targets, and acquiring additional strategic assets. Tara's strength in recognizing value early and strategy of reducing risk through a foundation of cash flow, positions it for low-risk value creation.

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. Please read the full disclaimer at www.TaraMinerals.com (http://taraminerals.com/English/General/Disclaimer/default.aspx).

Contact:
David Barefoot
(888) 901-4550
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and valu...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.