Lara Samples 2.15% Copper At São Julião, Northeast Brazil
October 29, 2012 (TSX Venture: LRA) - Lara Exploration Ltd., (“Lara” or the “Company”) is pleased to report that its field review of the newly optioned São Julião Copper Project in Piauí State, northeast Brazil has returned values over 1% copper from surface sampling on three target areas.
Lara’s geologists completed field checks and grab sampling on the Mandacaru, Carnaubinho and Cruz das Almas target areas, all of which returned values in excess of 1% copper from samples with abundant malachite. The 21 grab rock samples collected of more obviously mineralized material and associated wall rocks, returned copper values ranging from 9 parts per million (“ppm”) to 2.15%. Five orientation soil samples returned values ranging from 29 to 777 ppm copper. Rock samples from Mandacaru with higher copper values, were also anomalous in gold, with values ranging from 18 to 162 parts per billion (“ppb). The copper mineralization encountered is mostly secondary (the main mineral is the copper carbonate, malachite) associated with iron oxides, silicification, quartz veining, breccias and altered granitic intrusives. Results from the samples that returned over 1% copper are tabulated below:
The São Julião Copper Project comprises approximately 14,505 hectares of exploration licenses and claims, located near the towns of São Julião and Fronterias, approximately 385 kilometres by paved highways from Teresina, the State Capital. Lara has an option to acquire a 100% interest in the properties (see Company news release of July 22, 2012 for details). The copper-gold mineralization at São Julião has been interpreted as Iron Oxide Copper Gold (“IOCG”) in style, associated with iron-rich breccias in altered volcanic rocks, related to rifting and porphyry granite intrusions.
Michael Bennell, Lara’s Vice President Exploration and a Fellow 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 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 and three Strategic Alliances. 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.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.