Lara Delineates New Araguaia Nickel Targets
Lara Exploration Ltd. (“Lara” or the “Company”) is pleased to report that interpretation of proprietary airborne geophysical data has outlined thirty-five new exploration targets within the Company’s 100%-owned Araguaia Nickel Project in Pará State, Northern Brazil.
Exploration during 2006 resulted in the Vila Oito discovery, a 1.0 kilometre by 1.4 kilometre exploration target defined by nickel laterite and silicate diamond drill intercepts (see Lara News Release of May 15, 2006). In late 2006 Lara acquired proprietary airborne geophysical and photogeological datasets for its properties from Xstrata Brasil Exploração Mineral Ltda., (“Xstrata”). Interpretation of this data using the Vila Oito discovery as a template, together with satellite imagery and Lara’s own field data; resulted in the delineation of thirty-five new exploration targets for nickel within Lara’s properties. A team was mobilised in May to start field checking the higher priority targets with mapping and geochemistry.
The Araguaia Nickel Project comprises 301,000 hectares of 100%-owned exploration licenses and claims within the Araguaia Belt, an emerging nickel province where Xstrata announced significant laterite nickel discoveries at Serra da Tapa and Vale dos Sonhos in March 2006.
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.
Lara is a well-funded project generator with a portfolio of fourteen (copper, gold, nickel and tin) exploration 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