New Targets And Properties On The Sami Gold Project In Peru
March 19, 2012 (TSX Venture: LRA) – Lara Exploration Ltd., (“Lara” or the “Company”) is pleased to report very encouraging results from the 2011 exploration program from its 100%-owned Sami Gold Project in southern Peru:
- Pitusaja high-sulphidation epithermal target as defined by gold-silver geochemistry and alteration has been extended to over 2 kilometres in size.
- The Condorutca and Pitusaja Sur targets are interpreted as being part of the same alteration system as Pitusaja, suggesting potential for a much larger target part covered by recent sediments.
- Systematic mapping and sampling has identified 15 new targets (for a total of 20) with evidence of epithermal and/or porphyry type alteration and mineralization.
- New claims and acquisitions, covering extensions of Pitusaja and other target areas, have increased the property from 32,600 to 50,100 hectares in size.
Andre Gauthier, President of Lara commented, “The number and quality of the targets we’re finding at Sami is very exciting and we believe that the project has the potential to develop into a world class epithermal gold target and possibly also a porphyry copper district.”
The Company has now completed systematic alteration, geological and structural mapping and collected a total of 1,862 rock chip samples (964 from the 2011 campaign). The exploration work has been focused on outlining and expanding high sulphidation epithermal gold anomalies like Pitusaja, but the Company’s exploration teams have also identified low sulphidation epithermal gold-silver, copper-molybdenum porphyry and copper-silver vein-type alteration and mineralization, suggesting that Sami may host a well-preserved and extensive porphyry-epithermal system.
The company is planning additional geology and sampling work as well as detailed ground geophysics over priority targets anomalies during 2012 to prioritize drill targets. Please visit the Company’s website www.laraexploration.com for maps and to see more details of specific target areas.
Samples from Sami were sent to the Certimin Peru laboratory where they were systematically analyzed for gold by 50 gram fire assay with atomic absorption finish, 35 other elements using ICP and for mercury using the Aqua Regia cold vapor atomic absorption. Approximately 10% duplicate samples were checked at ALS Chemex in Peru with the same analytical methods.
Andre Gauthier, Lara’s President and CEO, a member of the Quebec Order of Engineers, 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. 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 its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.