Lara Channel Samples 4.65% Zinc and 4.86% Lead over 42.6 Metres at its Puituco Project in Central Peru
June 12, 2018 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara” or the “Company”), is pleased to report results of its surface chip channel sampling program to evaluate polymetallic brecciated feeder structures and related mantos mapped at its newly acquired Puituco Project, located in the Huancavelica Department of Central Peru. A total of 63 samples were collected across vertical brecciated structures and two related low-angle mantos that extend into the limestones. The best intervals (see table below) were sampled across Manto-2 where a series of roughly horizontal channel samples PUI-022 to PUI-030 averaged 4.65% zinc, plus 4.86% lead and 37 g/t silver over 42.6 metres; and PUI-031 to PUI-034 averaged 4.73% zinc, 2.6% lead and 16 g/t silver over a thickness of 17.3 metres (slightly oblique to the stratigraphy).
PUI-012 to PUI-015
PUI-016 to PUI-021
PUI-022 to PUI-030
PUI-031 to PUI-034
PUI-035 to PUI-038
PUI-039 to PUI-040
PUI-042 to PUI-043
PUI-047 to PUI-049
PUI-059 to PUI-060
Lara’s 400-hectare Puituco property was acquired at government auction in late 2017 and is the core to a larger claim block, with the surrounding areas mostly won by the Peruvian subsidiary of BHP and now defined as their Kenita Project. The Puituco property lies to the north of the Riqueza project, being explored by Inca Minerals in JV with South32. Mining activity in the district includes Minera IRL’s Corihuarmi high sulphidation epithermal gold mine and the past-producing Bethania polymetallic mine, that lie on the same trend to the northwest of Puituco.
Mineralization at Puituco is hosted by Cretaceous-age limestones of the Jumasha Formation, which have been cut by Tertiary-age intrusives, with a diorite stock mapped to the SW of the sampled area and an andesitic sill extending into the property from the north. Mineralization comprises hydrothermal breccias filling NE-SW oriented tension structures (related to a major regional structure, the NW-SE oriented Chonta Fault) and related mantos, where fluids have been driven laterally into the limestone beds and recrystallized and brecciated them. Geological observations indicate that both Manto 1 and 2 are approximately 20m thick. The vertical orientation of the mineralization and its relationship with the intrusives, indicates potential for the presence additional mantos deeper in the sedimentary sequence and for a larger porphyry intrusive at depth driving the system.
Please visit the Projects section of the Company website at www.laraexploration.com to view sample location maps, photographs and sections.
Quality Control and Qualified Person
The 63 rock channel samples were collected by Lara’s consultant AFC Logistics S.A.C. and delivered by them to the ALS Peru S.A. laboratory in Lima. The samples were typically cut over 5m widths (range 0.5m to 7.4m) by hand or by electric jack-hammer, depending on the rock hardness. The samples were analyzed by 33 element ICP for base metals and silver and 50g fire assay for gold. Ore grade samples for zinc, lead and silver were reanalysed with a four-acid digest and AAS finish. Standard, blank and duplicate samples were analysed for QAQC purposes and all reported in-range.
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 has approved the technical disclosure and verified the technical information in this news 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 exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects and deposits located mostly in Brazil and Peru. 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.