Lara Reports Gold Intercepts From Channel Sampling At Its Colorado Project In Brazil
Lara Exploration Ltd. (“Lara”) is pleased to provide results from surface sampling at its Colorado Gold Project in Brazil, where channel sampling of old artisanal workings has returned multiple intercepts of up to 3.60m at 6.96g/tAu from the Zé Goiano pit and 2m at 7.32g/tAu from the Solinger pit, which lie some 460m apart within a 1,600m anomalous trend defined by soil sampling. The Colorado Gold Project comprises a 20,000 hectare property covering Proterozoic-aged greenstones with gold mineralization hosted by altered mafic rocks. Local miner Mineração Taboca Ltda (“Taboca”) explored the property in the mid 1990’s, conducting surface sampling and 3,262m of shallow diamond drilling. Lara’s work aims to revalidate the historical data, define the structural controls of known gold mineralization and outline new drill targets.
Zé Goiano Target
Channel sampling across the north face of the Zé Goiano pit returned three strongly mineralized intercepts (at a cut-off grade of 1.0g/tAu) of 2.15m at 2.61g/t Au, 4.50m at 4.17g/tAu and 3.60m at 6.96g/tAu across a combined width of 18.35m. Taboca drilled six holes under this pit with the best intercepts reported from holes F-12 and F-14 which intercepted 6.91m at 13.19g/t Au and 11.05m @ 5.80g/tAu respectively. Structural measurements and the results of drillholes F-19 and F-20 which were drilled directly under the north pit wall and returned lower values of 5.06m at 2.77g/tAu and 5.50m at 2.37g/tAu respectively, suggest the that these thicker high-grade zones are plunging to the north. Two vein structures have been intercepted again in trenching 50m to the north of the pit, but assay results are still pending.
Channel sampling of the western face of the Solinger pit, 460m south of Zé Goiano, has identified two mineralized structures of 2m at 2.76g/t Au and 2m at 7.32g/tAu, separated by approximately 10m of sheared pyroxenite intrusive. The true width of these two zones is still to be determined. These intercepts are interpreted to be on the southerly strike extension of the mineralized intercept reported for drill hole F27 which intersected an interval of quartz veining with 3.0m at 8.00g/tAu at 95m depth down-hole. Results for channel samples collected from trenches located up to 50m either side of the drill hole F-27 section are still pending. A number of parallel mineralized structures have also been found within a 12m thick interval to the south of the Solinger pit, where individual zones (at a 1g/t cut-off) of 1.1m at 1.66g/tAu, 1.65m at 3.83g/tAu, 1.80m at 1.11g/tAu and 2.0m at 2.40g/tAu indicate potential for composite zones of low-grade open pitable mineralization.
B-Horizon soils were sampled on two traverses across the main part of the 1,600m long gold-in-soil anomaly reported by Taboca, in the area located some 600m north of the old Zé Goiano pit. Gold-insoil values up to a maximum of 5,314ppbAu occur within several broader parallel zones, from 15m to 100m wide, with gold values to several hundred ppb Au that are comparable to those outlined in previous work. This target has not been drilled previously.
Direct supervision of the Lara projects is being led by Michael Bennell, Vice President Exploration. Mr. Bennell, a member of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 and is responsible for the preparation of the technical information in this release.
Lara employs a QA/QC protocol on all aspects of the sampling and analytical procedures. Sampling procedures for stream sediment, soil, rock grab, channel and trench sampling includes the insertion of about 15% QA-QC samples comprising blanks, field and laboratory duplicates, and industry-certified standards. Samples have been prepared and analyzed by the following accredited laboratories: ALSChemex, Acme and Lakefield-Geosol.
Some statements in this report contain forward-looking information. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those projected.
Lara is a well-funded junior exploration company with fourteen (copper-gold-nickel) projects in Brazil and an oxide copper deposit in Peru. Lara trades on the TSX Venture Exchange under the symbol “LRA”. All dollars are in Canadian currency unless otherwise stated.
On behalf of the Board, Miles Thompson, President & CEO
For further information on Lara Exploration please contact: Miles Thompson or Kim Casswell, Corporate Secretary at +1 604 669 8777.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.