New Copper Intercepts At Lara Deposit In Peru
Lara Exploration (“Lara” or the “Company”) (LRA-TSX.V) is pleased to report the results of two new drill holes from its Lara Copper Project, located approximately 50 km north of Nazca in Peru. Lara resumed control of the Lara Copper Project in October 2007 following the termination by Lara of the option held by Solid Resources Ltd. to acquire an interest in the project.
Two vertical diamond drill holes were completed within the historic resource area during 2007. Hole LA-07-01 was completed to a depth of 121.7 meters and intercepted a 20 meter interval (88-108 meters) averaging 1.2% Cu. Hole LA-07-02 was completed to a depth of 292.1 meters and intercepted 13.7 meters (58-71.1 meters) averaging 0.93% Cu. Both intercepts occur within the zone of secondary sulphide enrichment in association with blebs, stringers and coatings of supergene chalcocite.
The Lara Copper Project is a porphyry copper-molybdenum deposit, with a leached cap at surface overlying successive zones to depth of secondary copper enrichment and primary, quartz vein stockwork mineralization (pyrite, chalcopyrite). Twenty-five drill holes were drilled in three separate programs between 1997 and 1999 and comprised of 2,742 meters of reverse circulation and 134 meters of diamond drilling.
An independent technical report on the Lara property entitled “Summary of Exploration, Metallurgical and Scoping Studies on the Lara Porphyry Copper Property and Proposed 2005 Exploration Program, Rio Viscus, Palpa, Peru” was authored by John Nebocat, P. Eng. dated February 9, 2004 and revised March 31, 2005 (a copy of which has been filed on SEDAR at www.sedar.com). The report detailed the Lara property, including an inferred mineral resource estimate of 18.6 million tonnes grading 0.53% copper using a 0.2% copper cut-off. Within this inventory are higher-grade blocks estimated at 6.5 million tonnes grading 0.91% copper using a 0.5% cut-off and 4.8 million tonnes grading 1.04% copper using a 0.6% copper cut off. The resource remains open to the east and to the west.
Mineralization amenable to low cost solvent extraction and electro-winning (“SX/EW”) processing remains open to the east, west, and south, both as extensions to the supergene chalcocite blanket and as transported copper oxides occurring in fractured intrusive rocks peripheral to the leached cap. In particular, strongly-altered and leached intrusive rocks, with associated stockwork mineralization and secondary copper oxide, occur over 800 meters east of the main Lara Zone (Mina de Socos) and are entirely untested by drilling. An integrated program of geologic mapping, sampling, road construction and diamond drilling is planned to commence in March, 2008.
More complete assay results from the 2007 holes follow:
|Drill Hole||Mineralization Type||From||To||Interval (m)||Cu%|
|LA-07-01||Leached Cap||0||88||88||no significant values|
|LA-07-02||Leached Cap||0||58||58||no significant values|
Craig S. Bow, Ph.D., a director of Lara and a member of the American Institute of Professional Geologists, 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 junior exploration company projects in Brazil 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.
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