Drilling Permits granted for the Planalto Copper Project in Brazil
Drilling Permits granted for the Planalto Copper Project in Brazil
October 27, 2021 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”), Lara is pleased to report that it
has received new drill permit s for its Homestead discovery. The permits, issued by the Environmental
Secretariat (SEMMA – Secretaria Municipal de Meio Ambiente) in Canaã dos Carajás, cover new drill sites
to test potential extensions to the Homestead deposit that have been identified from the Induced Potential
(IP) geophysical surveys carried out earlier in the year (see news release of March 22, 2021 for details).
Lara has an approved budget from partner Capstone Mining, for 4,350 metres of step-out diamond drilling
at Planalto and plans to mobilise drill rigs in the coming weeks.
About the Planalto Project
The Planalto Copper Project cover s meta-volcano-sedimentary sequences and intr usives 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 adjacent 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 rele ase 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 repaying its pro-rata share of the production financing out of cash flow.
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 the m 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 Proj ects 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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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