follow-up drill holes to the immediate north eastern side of the Cupuzeiro target, two of which, holes 22 - 011 and 22-014, gave intersections of 47.22m at 0.652% copper equivalent and 41.51m at 0.737% copper equivalent, respectively, below the zone of high grade intersections reported previously fo
July 5, 2023 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”) is pleased to report the results of six
follow-up drill holes to the immediate north eastern side of the Cupuzeiro target, two of which, holes 22 -
011 and 22-014, gave intersections of 47.22m at 0.652% copper equivalent and 41.51m at 0.737% copper
equivalent, respectively, below the zone of high grade intersections reported previously for the Cupuzeiro
target (see news releases of May 16, 2022 and September 13, 2022).
These new results summarized in Table 1 below, indicate that the previously reported higher-grade copper
mineralized zones are now interpreted to extend to more than 300m vertically below the surface and most
of the zones are still open to depth.
Table 1: Composite copper and gold analyses for follow-up drill testing completed in Q4-2022 & Q1-
2023 on the Cupuzeiro target, Planalto Copper Project, Para State, Brazil.
Drillhole
Number
Cut off
(%)
From
(m)
To
(m)
Width
(m)
Cu
(%)
Au
(ppm)
Cu Eq
(%)
22-011 0.1 217.67 310.37 92.7 0.430
Including 0.3 217.67 223.81 6.14 0.572 0.089 0.628
Including 0.3 247.55 294.77 47.22 0.611 0.065 0.652
0.1 318.08 388.91 70.83 0.185
Including 0.3 361.01 374.96 13.95 0.430 0.039 0.455
0.1 446.54 480.16 33.72 0.344
Including 0.3 469.76 474.74 4.98 1.454 0.200 1.580
22-012 0.1 7.65 34.05 26.4 0.259
Including 0.3 10.65 18.25 7.60 0.379 0.059 0.416
0.1 147.24 199.22 51.98 0.432
Lara Reports Further Higher-Grade Copper Intercepts at the Planalto Project
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
Including 0.3 167.35 175.29 7.94 0.434 0.066 0.476
Including 0.3 187.28 199.22 11.94 1.150 0.184 1.266
0.1 221.36 243.45 22.09 0.349
Including 0.3 225.34 235.41 10.07 0.546 0.058 0.583
0.1 293.86 333.88 40.20 0.279
Including 0.3 305.89 313.80 7.91 0.687 0.218 0.824
22-013 0.1 231.72 263.49 31.77 0.330
Including 0.3 249.47 257.47 8.00 0.768 0.104 0.833
0.1 273.48 323.12 49.64 0.393
Including 0.3 297.12 320.40 23.28 0.675 0.108 0.725
0.1 347.77 4382.28 34.51 0.390
Including 0.3 349.57 354.70 5.13 0.474 0.067 0.516
and 0.3 362.37 378.25 15.88 0.570 0.070 0.614
0.1 388.26 430.05 43.77 0.177
Including 0.3 422.02 430.05 8.03 0.310 0.031 0.339
0.1 537.93 586.27 48.34 0.309
Including 0.3 551.89 565.32 13.43 0.867 0.069 0.910
and 0.3 573.33 584.26 10.93 0.390 0.039 0.414
22-014 0.1 204.50 287.42 82.92 0.428
Including 0.3 239.81 281.40 41.51 0.682 0.085 0.736
22-015 0.1 95.55 127.86 34.28 0.300
Including 0.3 109.71 115.74 6.03 0.839 0.143 0.929
22-016 0.3 664.75 672.76 8.01 0.781 0.171 0.889
Notes: Copper equivalent values in this table were calculated using a copper price of US$3.40/lb and a gold
price of US$1,800/oz, with only sulphide values, a minimum interval width of four metres and a maximum
of six metres of internal waste considered. No allowance has been made for metallurgical recoveries of
either copper or gold. The intercepts reported are down hole intervals and additional offset holes are
required to better define the trend and attitude of the mineralized envelope and the higher -grade zones
within it.
Link to Figure 1 – Cupuzeiro Drillhole Map:
https://laraexploration.com/site/assets/files/1607/cupuzeiro-drill-hole-map-280623.jpg
Update on current drill program
Seven holes have been completed to date for approximately 3000m of the planned 10,000m drill program
scheduled to be completed by the end of August to test the extensions of the Cupuzeiro and Homestead
targets. Samples from the first two holes (23 -001 and 23-002) are already being processed by ALS in
Parauapebas.
Drillhole collars, Sampling methodology, Chain of Custody, Quality Assurance and Quality Control
Drillhole E-UTM N-UTM Azimuth Hole Angle Length (m)
22-011 637120 9295050 225 -45 500.45
22-012 636887 9296167 225 -45 449.06
22-013 637248 9295798 225 - 45 697.43
22-014 637010 9295960 225 - 45 423.51
22-015 636876 9295833 225 -45 372.10
22-016 637285 9295800 220 -65 691.56
All the drill core is cut and sampled under the supervision of the company´s Vice President Exploration and
the chain of custody of the drill core from the Project area to the Company´s sample preparation facility in
Canãa dos Carajás was continuously monitored. Sample intervals for the drill core were mostly maintained
at about 2m with some variation in the weathered saprolite zones and at times guided by the degree of
copper mineralization. Blank, duplicate core or certified gold and copper reference materials were inserted
at approximately every 10th sample.
The drill core samples were delivered by company personnel to the ALS preparation laboratory located in
Parauapebas, 65 km to the north from the Project, where they were crushed and pulverized. The sample
pulps were then dispatched to the ALS laboratory in Lima for analysis. The pulps were subjected to multi-
acid digestion with copper and 47 other elements were determined by ICP -MS. Gold was determined by
fire assay fusion and an ICP-AES finish on a 30-gram charge.
About the Planalto Project:
The Planalto Copper Project covers volcano-sedimentary sequences and intrusives of early Proterozoic-age
with IOCG-type mineralization, located near Vale’s Sossego mine and Cristalino deposit and BHP’s Pedra
Branca mine and Antas mill, in the Carajás Mineral Province of northern Brazil. Lara now owns 100% of
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 options to ac quire
outright two adjacent licenses, covering northward strike extensions to the Homestead mineralization and
the new Cupuzeiro discovery, 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 a subsidiary of Capstone
Copper Corp., (see Company news releases of February 4, 2019 and February 21, 2023 for details), whereby
Capstone can earn up to a 70% in the Project by funding exploration, feasibility studies a nd 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.
Michael Bennell, Lara’s Vice President Exploration and a Fellow of the Australasian Institute of Min ing
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.
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".
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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