A preliminary inspection of the initial 143 m etres of drill core (hole final depth planned for 300m) from this hole indicates dis seminated and narrow vein -hosted chalc opyrite mineralization, associated wi th a sequence of metamorphosed and altered mafic volcanics (ash and crystal tuffs) , very s
November 8, 2021 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”), Lara is pleased to report the
restart of diamond drilling at the Company’s Planalto Project. The first hole of the new program is located
in the south-central part of the exploration license under option from Mineração Tariana Limitada (see Lara
news release of January 11, 2021 for details), at the southern end of a strong copper -in-soil anomaly ,
coincident with a north -south Induced Polarization anomaly (see Lara release of March 22, 2021 for
details).
A preliminary inspection of the initial 143 m etres of drill core (hole final depth planned for 300m) from
this hole indicates dis seminated and narrow vein -hosted chalc opyrite mineralization, associated wi th a
sequence of metamorphosed and altered mafic volcanics (ash and crystal tuffs) , very similar to the mafic
volcanic sequence hosting the main Homestead discovery.
A second drill rig is being mobilised currently and is expected to arrive at site next we ek. JV partner
Capstone Mining Corp., is funding a drill budget of 4,350 metres for 2021 , to test the potential northerly
extension of the mineralization into the Tariana license mentioned above and other target areas to the west,
east and south of the min eralization already outlined at the Homestead target (see Lara news releases of
July 19, 2018, July 23, 2019 and April 20, 2020 for details).
About the Planalto Project
The Planalto Copper Project cover s meta-volcano-sedimentary sequences and intrusives of early
Proterozoic-age with IOCG -type mineralization, located near Vale’s Sossego copper mine and Oz
Minerals’ Antas and Pedra Branca copper mines, in the Carajás Mineral Province of northern Brazil. Lara
now owns 100% of the main Planalto Project and the Homestead discovery, subject to a 2% NSR royalty
payable on any production (Lara retains the right to purchase 50% of this royalty for a cash payment of
US$2 million). Lara has further optioned t wo adjac ent licenses covering potential northward strike
extensions to the Homestead mineralization from Mineração Tariana and Mineração Zaspir (see news
releases of January 11 and March 15, 2021 for details). Lara has a staged earn-in agreement with Capstone
Mining Corp., (see Company news release of February 4, 2019 for details), whereby Capstone can earn up
to a 70% in the Project by funding exploration, feasibility studies and electing to finance, build and manage
a commercial mining operation , with Lara repayi ng its pro-rata share of the production financing out of
cash flow.
Drilling Resumes at the Planalto Copper Project in Brazil
TSX-Venture: LRA
Suite 501-543 Granville Street
Vancouver BC, Canada
V6C 1X8
www.laraexploration.com
T: 604.669.8777
F: 604.688.1157
News Release
About Lara Exploration
Lara is an exploration company following the Prospect and Royalty Generator business model, which aims
to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint
ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a
diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara’s common shares trade
on the TSX Venture Exchange under the symbol "LRA".
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.
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.
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