Further High-Grade Iron Intercepts At Serra Morena Target
July 19, 2010 (TSX Venture: LRA) - Lara Exploration Ltd., (“Lara” or “the Company”) is pleased to report further positive results from iron ore drilling with joint venture partner Vertical Mineração Ltda., (“Vertical”) at its Curionópolis IOCG Project, in the Carajás District of Northern Brazil. All ten holes have reported significant iron mineralization from x-ray fluorescence analysis with drillhole intervals ranging from 53.81 to 168.4 metres in length returning average iron grades of between 36.41% and 65.51% Fe. The best intercept is 166.5 metres at an average grade of 62.62% iron with low impurities (silica, aluminum and phosphorous).
To date 17 diamond drillholes have been completed, testing an approximately one kilometre section of the on the Serra Morena Target with partial results for holes FD-0001 to FD-0008 being reported previously (see Company news release of May 10, 2010 for details). Results of all the drillholes are summarized in Table 1 below:
Table 1. - Drill Intercepts - Serra Morena | ||||
Drillhole | From (m) | To (m) | Interval (m) | Grade Fe (%) |
FD-0001 | 0.00 | 10.00 | 10.00 | 58.95 |
29.00 | 59.00 | 30.00 | 48.63 | |
FD-0002 | 0.00 | 39.00 | 39.00 | 62.16 |
FD-0003 | 0.00 | 86.70 | 86.70 | 61.63 |
FD-0004 | 0.00 | 37.13 | 37.13 | 60.08 |
FD-0005 | 0.00 | 16.50 | 16.50 | 55.44 |
FD-0006 | Hole abandoned due to drilling problems | |||
FD-0007 | 0.00 | 6.66 | 6.66 | 51.76 |
FD-0008 | 0.00 | 25.00 | 25.00 | 58.97 |
FD-0009 | 0.00 | 131.70 | 131.70 | 65.51 |
FD-0010 | 0.00 | 123.00 | 123.00 | 63.83 |
FD-0011 | 0.00 | 166.50 | 166.50 | 62.62 |
FD-0012 | 0.00 | 168.40 | 168.40 | 46.17 |
FD-0013 | 0.00 | 100.00 | 100.00 | 36.41 |
FD-0014 | 0.00 | 90.00 | 90.00 | 53.18 |
FD-0015 | 0.00 | 136.35 | 136.35 | 37.60 |
FD-0016 | 0.00 | 100.00 | 100.00 | 63.50 |
FD-0017 | 0.00 | 70.00 | 70.00 | 45.38 |
FD-0018 | 0.00 | 53.81 | 53.81 | 61.55 |
These drillholes were angled at between 60 and 90 (vertical) degrees, testing a 50 to 300 metre wide zone of partially exposed, steeply dipping and strongly folded iron formations that comprise a mixed sequence of massive high-grade hematite and lower-grade siliceous iron formations (“itabirites”).
Mapping and surface sampling on the property indicates that the iron formations extend for over 10 kilometres within the property and work is underway to both extend the Serra Morena Target and to test other sections of the trend where reconnaissance mapping and surface chip sampling has identified exposures of massive hematite.
Quality Control
All samples have been prepared and analyzed by independent and accredited analytical laboratories in Brazil and the Company has followed standard industry practices for QAQC procedures.
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.
About Lara
Lara is an exploration company following the Prospect Generator business model which aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio prospects and deposits in Brazil, Peru, Colombia and China. 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 – CEO or Andre Gauthier – President, at 604-669-8777.
Investor Relations:
Julia Maxwell - 604-669-8777
Chris MacIntyre – 416-640-1932
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