Sami Gold Project
The Sami Gold Project comprises a 1,000-hectare exploration license located in the Ayacucho Department of southern Peru. The Sami license covers a highly prospective high-sulphidation epithermal target named Pitusaja, defined by gold-silver geochemistry and mapped epithermal alteration over 2 kilometres in size, which has never been drill tested.
The Pitusaja target was generated from a regional program over a much larger 50,100-hectare mineral property package originally acquired for gold and copper exploration in 2009. The Company completed systematic alteration, geological and structural mapping and collected 1,862 rock chips samples. The Pitusaja target has a typical signature of a precious metals rich, high-sulphidation epithermal system, hosted by tuffs of andesitic composition. Anomalous gold values are associated with quartz-alunite alteration, strong silicification and accompanying argillization. Also indicative is the presence of volatile pathfinder elements: mercury, arsenic and antimony, associated with barium, bismuth, silver and molybdenum.
Two outcrops of hydrothermal breccias are mapped in an area of 300m by 300m mostly covered by recent soils. The largest outcrop is 200m long by 10m to 40m wide, and the smaller area 20m by 7m; these are 200m apart in an E-W direction with the intervening area covered by soil. The breccias are made up of dark gray silica with abundant fine and disseminated pyrite.
Gold values obtained were in the range of 0.1 g/t to 1.5 g/t gold. The Pitusaja samples (total of 35) also returned anomalous values up to 25g/t silver, up to 560ppm copper, up to 581ppm molybdenum, up to 2,298ppm arsenic, up to 1,304ppm antimony, up to 2,433ppm bismuth and up to 1,029ppm barium.
Quality Assurance and Quality Control
Samples were sent to the CERTIMIN Peru where they were systematically assayed by: Au FIRE ASSAY AAS 50g, ICP MULTI-ELEMENTS (35 elements) and Hg AGUA REGIA COLD VAPOR AAS. Approximately 10% duplicates samples are checked at ALS Chemex from Lima, Peru with the same analytical method.
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 summary.