Here are the various styles of tequila. There are, of course ranges in each style. Patron silver for instance is quite tasty so being silver doesn't necessarily make it worse than a reposado.
Here's a link with a little blub about the stuff that you have.
http://pocotequila.com/retour/jarroviejo.html
and here's the text from that link
Quote:
The highlands factory of Destiladora la Barranca is located in Tepatitlan. According to the Jarro Viejo website this tequila spent 11 months in Bourbon Oak barrels. The site also shows two other Jarro Viejo tequilas but it appears that only this reposado is 100% agave. Adam picked up this bottle on a recent trip to Acapulco and stated:
"The Jarro Viejo was only about $11 but I give the slight edge (in comparison to a few other reposados he picked up on this particular trip). It has that classic, strong highlands agave aroma but with a light cinnamon flavor that reminds me of Centinela. It is also only 35% alcohol".
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I'd say that there's a good chance that it's tasty stuff. I'd definitely give it a go. If you aren't sure then ship it to me, I'll try it, and then ship it back. I'll even leave some in the bottle for you.
Blanco or Silver
This is the traditional tequila that started it all. Clear and transparent, fresh from the still tequila is called Blanco (white or silver) and must be bottled immediately after the distillation process. It has the true bouquet and flavor of the blue agave. It is usually strong and is traditionally enjoyed in a "caballito" (2 oz small glass).
Oro or Gold
Is tequila Blanco mellowed by the addition of colorants and flavorings, caramel being the most common. It is the tequila of choice for frozen Margaritas.
Reposado or Rested
It is Blanco that has been kept (or rested) in white oak casks or vats called "pipones" for more than two months and up to one year. The oak barrels give Reposado a mellowed taste, pleasing bouquet, and its pale color. Reposado keeps the blue agave taste and is gentler to the palate. These tequilas have experienced exponential demand and high prices.
Aņejo or Aged
It is Blanco tequila aged in white oak casks for more than a year. Maximum capacity of the casks should not exceed 600 liters (159 gallons). The amber color and woody flavor are picked up from the oak, and the oxidation that takes place through the porous wood develops the unique bouquet and taste.
Reserva
Although not a category in itself, it is a special Aņejo that certain distillers keep in oak casks for up to 8 years. Reserva enters the big leagues of liquor both in taste and in price.