Network Defines Drill Targets At Picha In Peru
April 2, 2012 (TSX Venture: LRA) - Lara Exploration Ltd., is pleased to report that it’s partner, Network Exploration Ltd., has defined 14 priority drill targets on the Company’s Picha Copper-Silver Project in southern Peru, with diamond drilling expected to commence once permits have been approved by the Peruvian government.
The first group of 5 drill targets are largely geochemical anomalies identified during earlier surface sampling. Three of these targets are located in the Picha 2 claim block and target the highest copper (up to 12% from a rock chip sample) and silver showings (up to 77 g/t also from a rock chip sample) within this claim block’s large 3,100 metre by 500 metre north/south geochemical anomaly. These named sites include Cobremani (silicified breccias and limonite stockworks), Maricate (on the corridor of veins related to a weak argillic alteration) and Fundicion (series of small copper veins). The other two targets are located in the Picha 7 claim block. Specifically, drilling at Cumbre Coya will test the argillic alteration following NNW-SSE structural trend and drilling at Ventilla will test historical mine workings coincident with one of the strongest IP anomalies. The Cumbre Coya showing gave strong silver values from chip sampling of up to 127 g/t, with lead values of up to 27% and zinc values up to 1.1%. The Ventilla showings gave exceptionally strong lead values from chip sampling of up to 23%.
The second group of eight drill targets are derived from the recently completed Induced Potential (“IP”) and Magnetic surveys by Val d’Or Geophysics. These include the four main IP targets (C1 to C4) in the Picha 2 and 3 claim blocks - i.e., (C1) the large porphyry related anomaly (500m x 300m), (C2) the anomaly on western ridge of Rio San Antonio Valley showing coincident chargeability and resistivity highs at the top of a circular pipe-like magnetic body, (C3) the near surface extension of large chargeable mass at depth, and (C4) the elongated anomaly along the Rio San Antonio valley floor. Also included in this group of targets is the linear resistivity anomaly (R2) located along western ridge of the northerly striking portion of the Rio San Antonio valley, connecting the C-2 and C-3 chargeability anomalies.
The Company follows industry standard quality assurance and quality control procedures for all its samples under the supervision of Noel Di´az, General Manager Peru and Andre´ Gauthier, P. Eng., President of Lara Exploration Ltd., who is the Qualified Person for Lara under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and who has approved this press release and verified the data disclosed.
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. It currently holds a diverse portfolio of prospects and deposits primarily in Brazil and Peru where it has signed agreements for sixteen 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