Drilling Extends Mineralized Envelope At The Lara Copper Project, Peru
February 28, 2012 (TSX Venture: LRA) - Lara Exploration Ltd., (“Lara” or the “Company”) is pleased to report positive results from step-out drilling at the Lara Copper-Molybdenum Project in southern Peru. The 4,700 metre program, funded through a partnership with Redzone Resources Ltd. (TSX Venture: REZ, “Redzone”), aimed to test extensions of the porphyry system outlined by recent geological mapping, surface sampling, drilling and geophysical surveys.
These drill new results show that the mineralized envelope extends eastward for 800 metres from the Lara Hill to the Socos Target and that sulphide (hypogene) mineralization extends to depths of up to 300 metres, with average grades in the range of 0.3% and 0.5% copper equivalent. The target mineralization has now been shown to extend for 2.0 kilometres east to west, up to 500 metres north to south, remaining open to the southwest and the east.
Highlights of this drilling program are summarized in the table below:
* CuEq refers to the copper equivalent which assumes prices of US$2.80 per pound for copper and US$16 per pound for molybdenum and is calculated using the following formula: CuEq% = ((Cu% x US$2.80) + (Mo% x US$16))/(US$2.80).
Quality Control: The Company follows industry standard quality assurance and quality control procedures for all its samples, under the supervision of Noel Díaz, General Manager Peru and André Gauthier, P. Eng., President of Lara Exploration Ltd., who is the Qualified Person and responsible for the content of this press release pursuant to NI 43-101.
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 of prospects and deposits primarily in Brazil and Peru where it has signed agreements for fifteen joint ventures. 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 Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.