Lara Samples 20 Meters At 3.29% Tin At São Lourenço
Vancouver, British Columbia, December 3, 2008 (TSX Venture: LRA)
Lara Exploration Ltd. (“Lara” or the “Company”) is pleased to report that it has outlined a second robust tin-bearing alteration zone on its São Lourenço project in northwest Brazil. Continuous channel sampling on the Irene Target has outlined 20-28 meter-wide zone extending for a strike-length of 200 meters. The new results are summarized in Table 1 below:
|Table 2 – Other Serra de Irene Greisen Targets|
|Sample line||Interval (meters)||Tin grade (% Sn)|
The Company plans to continue sampling on the Irene Target to extend the known mineralized zones and define drill targets for testing the depth extensions of these systems. Follow-up sampling on the Isaac Targets (see Lara news release of October 2, 2008) within the same granite body, are on-going and results will be reported when received.
Tin has been the best performing London Metal Exchange (“LME”) traded base metal in the current crisis, down in price less than 20% on a year-on-year basis. As at December 1, 2008 the cash price of tin was US$12,750 per ton. A market deficit is predicted for 2008-09, as LME warehouse stocks are at historical lows of only 4,585 tons. Tin is used primarily as solder in electronics (gradually replacing lead for environmental reasons) and as steel plate for canned food. Supplies are dominated by two countries, China and Indonesia, both of which have seen substantial falls in exports in recent years due to internal consumption increases and environmental restrictions respectively.
This sampling program comprised the collection of 2 meter samples continuously along lines cut perpendicular across the mineralized zones identified in the Phase-1 program. The samples were continuous chip or channel samples, depending on whether the exposure sampled comprised vein material, weathered rock (saprolite) or fresh granite. Samples were prepared and analyzed using X-Ray Fluorescence at the commercial SGS-Geosol Laboratory in Belo Horizonte (Minas Gerais State), with blank, standard and duplicate samples included for QAQC purposes.
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 Standards of Disclosure for Mineral Projects, and is responsible for the preparation and verification of the technical information in this release.
Lara is a well-funded prospect generator, with a multi-commodity exploration portfolio in Brazil, Colombia and 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 news release