Tao Minerals has inked a letter of intent (LOI) to partner with Bullet Holding of Medellin in Colombia and updated about the Las Aguadas project.
The company prospected the Bullet JV properties over an area around 12 km x 12 km in March and April 2011 to the east and north of the Las Aguadas town, which included a surface rock sampling and stream sediment sampling survey. The sampling program comprised 89 stream sediment samples and 16 rock samples at different sites in the Sonson Batholith structure to discover potential targets for additional exploration. The rock chip and stream sediment sampling program results discovered several anomalous zones, which are potential regions subjected to the comprehensive exploration.
The stream sediment sampling confirmed gold, silver, manganese, barium and zinc anomalies from the 89 samples, with the same encouraging results from the 16 rock chip samples. These results show the occurrence of polymetallic deposits and veins of sulphide complexes. Additionally, the existence of local natives panning the gold placers in the region is confirming the occurrence of gold mineralization at the interest area.
The CEO and President of Tao, has stated that the primary sampling results are encouraging and validate additional exploration in this area. The company is waiting for the beginning of a more comprehensive exploration program after the formalization of the joint venture’s definitive agreement.
Source: http://www.taominerals.com/