Lara Intercepts 380.79 Metres at 0.57% Copper Equivalent at the Planalto Project
Lara Intercepts 380.79 Metres at 0.57% Copper
Equivalent at the Planalto Project
Vancouver, British Columbia--(Newsfile Corp. - September 13, 2022) - Lara Exploration Ltd. (TSXV:
LRA) ("Lara"), Lara is pleased to report the results of seven follow-up drill holes from the Cupuzeiro
target, the best of which, 22-007, made a sulphide-copper intersection of 380.79 metres from near
surface, averaging 0.575% Cu equivalent, including two zones of higher-grade mineralization: 78.81
metres grading 1.083% Cu from 17.8 metres, and 40.4 m at 1.308% Cu from 121.68 metres downhole.
Drilling on the Cupuzeiro target from late 2021 (see news release of May 16, 2022) intercepted wide
zones of higher-grade copper mineralization (notably hole 21-002 with an intercept of 341.30 metres at
0.65% copper equivalent and hole 21-005 which intercepted 339.75 metres at 0.53% copper
equivalent). Hole 22-007 from this follow-up program, drilled diagonally across this zone on a northeast
azimuth, confirmed the presence of a significant core of high-grade copper mineralization, over more
than 100 metres in strike length, on a north-south trend in this target.
Four holes testing the north extension of this core zone: 22-006, 22-008, 22-009 and 22-010, indicate
that significant, albeit lower grade mineralization, is still present for up to 300 metres to the north and is
still open up-dip, to the north and at depth. Two holes, 22-004 and 22-005, drilled to test the west
extension to the high-grade core zone, also made significant copper intersections.
Table 1: Composite copper and gold analyses for follow-up drill testing in 2022 on the
Cupuzeiro target, Planalto Copper Project, Para, Brazil.
Drillhole
Number
Cut off
(%)
From
(m)
To
(m)
Width
(m)
Cu
(%)
Au
(ppm)
Cu Eq
(%)
22-004
0.1
12.10
183.85
171.75
0.393
0.044
0.426
Incl
0.3
12.10
20.18
8.08
1.663
0.171
1.795
Incl
0.3
31.77
65.46
33.09
0.546
0.067
0.598
Incl
0.3
96.92
105.92
9.00
0.747
0.079
0.808
Incl
0.3
131.77
166.77
35.00
0.417
0.047
0.453
And
0.1
208.87
337.76
128.89
0.343
0.041
0.375
Incl
0.3
210.87
228.56
17.69
0.551
0.086
0.617
Incl
0.3
246.45
251.87
5.45
0.587
0.077
0.646
Incl
0.3
287.29
316.09
28.80
0.602
0.059
0.648
22-005
0.1
21.00
146.04
125.04
0.276
0.036
0.304
Incl
0.3
69.99
75.63
5.64
0.429
0.035
0.456
Incl
0.3
133.42
146.04
12.62
0.832
0.132
0.934
And
0.1
263.27
293.06
29.79
0.537
0.064
0.568
incl
0.3
263.27
281.03
17.76
0.714
0.117
0.804
22-006
0.3
123.27
133.16
9.89
0.332
0.046
0.367
And
0.1
187.05
352.14
165.09
0.269
0.033
0.294
Incl
0.3
189.05
199.05
10.00
0.565
0.111
0.651
Incl
0.3
216.63
233.17
16.54
0.363
0.044
0.397
Incl
0.3
245.13
255.12
9.99
0.653
0.075
0.711
Incl
0.3
329.07
340.45
11.38
0.441
0.066
0.492
And
0.1
373.49
414.39
40.9
0.576
0.086
0.642
Incl
0.3
373.49
390-44
16.95
0.924
0.137
1.030
22-007
0.1
17.80
398.59
380.79
0.526
0.063
0.575
Incl
0.3
17.80
96.61
78.81
1.083
0.133
1.186
Incl
0.3
121.68
161.72
40.40
1.308
0.131
1.409
Incl
0.3
171.75
179.74
7.99
0.565
0.071
0.620
Incl
0.3
223.67
231.67
8
0.382
0.048
0.419
Incl
0.3
248.80
262.70
13.90
0.404
0.056
0.447
Incl
0.3
360.53
366.52
5.99
0.685
0.084
0.750
22-008
0.1
18.85
273.48
254.63
0.303
0.028
0.325
Incl
0.3
47.78
53.07
5.29
0.495
0.073
0.552
Incl
0.3
75.64
120.44
44.80
0.431
0.042
0.436
Incl
0.3
240.78
273.48
32.70
0.713
0.114
0.801
Incl
0.3
406.95
412.94
5.99
0.359
0.057
0.403
22-009
0.3
319.46
325.41
5.95
0.361
0.082
0.424
22-010
0.1
336.19
476.75
140.56
0.339
0.035
0.366
Incl
0.3
350.06
376.71
26.65
0.854
0.069
0.907
Incl
0.3
392.62
398.64
6.02
0.460
0.049
0.498
Incl
0.3
434.50
442.48
7.98
0.784
0.120
0.877
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/1581/2022_drillhole_map.jpg
Additional drill testing at the Homestead Copper Target
Three drill holes: 22-001, 22-002 and 22-003, were also completed in early 2022 to test IP (Induced
Polarization) anomalies to the south, east and west respectively, testing for extensions of the Homestead
Target (See previous news releases of July 23, 2019, and April 20, 2020).
Hole 22-001 intersected 27.67 metres at 0.417% Cu at considerable depth down hole (362.03 to
389.70 m) indicating the there is potential to find extensions up-dip and southwards of the Homestead
mineralization. No significant copper mineralization was intersected in hole 22-002 located to the east of
Homestead and only thin high grade vein intervals of less than 1 metre were intersected in the hole 22-
003 located out to the west of Homestead.
Table 2: Composite copper intersections in drilling around the Homestead target
Drillhole
Number
Cut off
(%)
From
(m)
To
(m)
Width
(m)
Cu
(%)
Au
(ppm)
Cu Eq
(%)
22-001
0.3
362.03
389.70
27.67
0.417
0.023
0.435
22-002
No significant intercepts
22-003
68.27
68.77
0.50
1.89
0.336
2.15
Drillhole collars, Sampling methodology, Chain of Custody, Quality Assurance and Quality
Control
Drillhole
E-UTM
N-UTM
Azimuth
Hole Angle
Length (m)
22-001
636960
9294749
45
-75
491.31
22-002
637249
9295097
90
- 60
400.08
22-003
636120
9294999
90
- 60
401.63
22-004
636949
9295551
270
- 75
369.69
22-005
636891
9295635
270
-75
338.32
22-006
636749
9295698
45
-45
517.77
22-007
636947
9295543
45
-45
503.46
22-008
636901
9295683
45
-45
511.44
22-009
636515
9295794
45
-45
499.46
22-010
636649
9295870
45
-45
515.53
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 meta-volcano-sedimentary sequences and intrusives of early
Proterozoic-age with IOCG-type mineralization, located near Vale's Sossego mine and Cristalino
deposit and Oz Minerals' Pedra Branca mine, 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 options to acquire outright two adjacent licenses, covering 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
a subsidiary of Capstone Copper 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 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 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.
-30-
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/136795