January 8, 2008 Tara Gold Resources Corp. reported that it will option a 70% undivided interest in El Picacho (Sonora State), Curcurpe (Sonora State), and La Millonaria (Chihuahua State) projects to La Camera Mining Inc. which will invest US$ 6 million over a 3.5 year period in Picacho project, make the underlying property payments, and issue 1,500,000 La Camera common shares to Tara. La Camera will also provide the capital and necessary operating funds to put Picacho mine back into full scale production by 2008. In addition, La Camera will invest US$ 3.75 million in Curcupe project over a 3.5 year period making all the underlying property payments and invest US$ 3.75 million at La Millionaria project over a 3.5 year period plus making underlying property payments.
June 15, 2007 Announced results from the Phase I drill program at El Picacho. This first phase drill program conducted by Lateegra consisted of 2,569 meters in 14 drill-holes. Results include 6.13 meters grading 4.73 grams per tonne (g/T) gold (Au) and 60.26 g/T silver (Ag) in drill hole MPDH07-014, 9.43 meters grading 7.80 g/T Au and 72.89 g/T Ag in MPDH07-002, and 11.28 meters grading 15.57 g/T Au and 32.41 g/T Ag in MPDH07-013.
Hole MPDH-07-01 intersected 5m @ 12.8g/t Au and 27.8g/t Ag from 80.5m.
February 23, 2007 Reported an update of the activities and fieldwork being carried out in the project. The Phase 1 drill exploration program has been increased to 3000m. A total of 1000m is confirmation drilling aimed at verifying historical resource estimates, confirming mine head grades and mining widths, while allowing the correlation of data provided from 22 historic drill holes within the El Picacho structure. Work also continued on a third parallel mineralized structure where recent 4 and 8gms gold/tonne grab samples, previously reported, were taken 0.5km apart and on strike with an existing 76meter 4x4 meter cribbed shaft, also planned for rehabilitation.
