Lara Completes Due Diligence And Starts Exploring In The Tapajos
Lara Exploration Ltd. (“Lara” or the “Company”) is pleased to announce that it has mobilised field teams to the Tapajós in northern Brazil, to start gold exploration work at Santa Felicidade and to evaluate the other target areas being acquired through its 50%-owned T’Gold joint venture.
Title is a complex issue in this region, given the presence of both exploration and small miner (“garimpeiro”) licenses. The Company was pleased to be able to complete a satisfactory due diligence on the core mineral rights being acquired by the T’Gold joint venture, namely the 44,800 hectares of exploration claims covering the Santa Felicidade, Santa Cecilia, Castelo, Colibri (Beija-Flor), Caic-1 and Caic-2 garimpeiro workings. A further 60,700 hectares of garimpeiro claims will be evaluated in the coming months; where results justify and title is in good order, requests will be made for conversion to exploration licenses.
The T’Gold technical team, drawn from both sides of the partnership, includes key individuals from previous exploration campaigns in this district by Rio Tinto, Barrick and Gold Fields and the Company is confident that the team brings the necessary experience to both targeting and execution of the field programs. The focus of work in the coming months will be the Santa Felicidade property that covers a kilometre-scale granite-porphyry intrusive with gold mineralization associated with shearing and quartz-vein stock-working. The regional geological setting and observed mineralization are compatible with intrusion-related deposits that can develop into major ore bodies.
Michael Bennell, Lara’s Vice President Exploration and 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 and verification of the technical information in this release.
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-tin) projects in Brazil and the Lara oxide copper deposit in Peru. Lara’s common shares trade on the TSX Venture Exchange under the symbol “LRA”.
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com or contact: Miles Thompson, President or Kim Casswell, Corporate Secretary at (604) 669-8777.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.