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Tarachi Gold Corp. Enters Into an Agreement to Acquire 100% of Juliana and Las Moritas Concessions in Sonora, Mexico
VANCOUVER, BC, Sept. 3, 2020 /CNW/ - Tarachi Gold Corp. (CSE: TRG) ("Tarachi" or the "Company") is pleased to announce that it has entered into an arm's length
About this update from Tarachi Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Sept. 3, 2020 /CNW/ - Tarachi Gold Corp. (CSE: TRG) (\"Tarachi\" or the \"Company\") is pleased to announce that it has entered into an arm's length option agreement with Exploradora Cobre De Bacanoras S. DE R.L. DE C.V. whereby the Company has the right to acquire a 100% interest in the group of mining concessions known as the Juliana, Juliana No.1, Juliana No.2 and Las Moritas Mining Concessions (\"the Project\"). The 4 concessions cover a total surface area of 1,148.42 hectares (\"ha\") (Table # 1) and are located in the Sierra Madre Gold Belt of Eastern Sonora, Mexico. The Juliana, Juliana No.1, Juliana No.2 and La Morita concessions are known to host the same stratiform, silicified unit as Tarachi's currently optioned Jabali concessions. Several drill programs have been completed on the Project however, the core recovery in the past was generally poor. Interpretation of the main structure is thought to continue to the south in untested, more favorable lithologies. The Juliana, Juliana No.1, Juliana No.2 and Las Moritas Mining Concessions are just north and on strike with the Jabali concession as seen on Figure # 1. \"The recently announced assay results on the La Dura, historic mine by Tarachi on August 20 confirm the importance of these new concessions. As well, the announcement on August 27 of the diamond drill mobilizing to La Dura and the Project's geological similarities indicated the importance of these new concessions to Tarachi\", commented CEO Lorne Warner. Tarachi Projects Tarachi's projects now consist of the San Javier, Pretoria, Chivitas, Jabali, Juliana, Texana and Tarachi concessions for at total of 3,708 ha in the prolific Mulatos gold belt. The Project is approximately 220 kilometers by air east of the City of Hermosillo, and 300 km south of the border between the United States of America and Mexico. The Jabali claim covers the La Dura historic mine and several other small-scale mines. The gold mineralization and geology at Jabali is believed to be similar in character to the gold mineralization at the Mulatos mine. Alamos Gold Inc., in a 2003 annual report, identifies the Jabali project as being part of the \"Los Bajios\" mineralized trend. The Tarachi project is an early stage exploration project and the mineralization hosted on adjacent and/or nearby properties...