Mining plc., has reported multiple gold and silver intercepts from diamond drilling at the Company’s Corina Gold Project in southern Peru. The results received to date are summarized in the following table: Drillhole From (m) To (m) Width (m) Au g/t Ag g/t
October 1, 2019 (TSX Venture: LRA) - Lara Exploration Ltd., (“Lara” or the “Company”) is pleased to
report that partner Compañía Minera Ares S.A.C. ("Ares"), a subsidiary of London -listed Hochschild
Mining plc., has reported multiple gold and silver intercepts from diamond drilling at the Company’s Corina
Gold Project in southern Peru. The results received to date are summarized in the following table:
Drillhole From (m) To (m) Width (m) Au g/t Ag g/t
COR19001 201.55 204.75 3.20 1.13 24.00
including 203.40 204.75 1.35 1.80 31.00
COR19001 218.80 228.20 9.40 0.43 7.11
COR19002 253.15 254.45 1.30 0.43 4.40
COR19002 330.20 348.50 18.30 0.26 1.35
COR19003 142.85 146.85 4.00 0.28 1.57
219.80 221.00 1.20 0.46 67.40
COR19004 152.00 156.85 4.85 0.07 0.78
265.00 266.35 1.35 0.61 9.00
COR19005 91.10 94.60 3.50 8.97 32.00
including 92.10 93.65 1.55 15.90 47.00
COR19005 117.90 122.90 5.00 0.60 4.99
COR19005 160.80 162.80 2.00 1.18 2.90
COR19006 209.60 211.10 1.50 1.71 7.65
including 210.70 211.10 0.40 2.89 7.90
COR19006 284.85 287.10 2.25 0.27 0.87
COR19007 126.40 142.10 15.70 4.56 53.69
including 132.30 135.00 2.70 15.94 207.20
and 132.30 133.70 1.40 19.55 290.00
COR19007 184.60 189.20 4.60 1.10 27.64
COR19007 200.75 201.75 1.00 1.32 14.50
COR19008 209.40 211.00 1.60 0.52 2.05
COR19008 220.80 223.00 2.20 3.20 25.66
including 220.80 221.80 1.00 5.73 51.00
COR19009 144.80 149.00 4.20 0.82 6.71
COR19009 152.50 157.60 5.10 1.05 14.19
including 156.50 157.00 0.50 2.63 53.70
COR19009 160.40 165.40 5.00 1.08 6.98
Multiple Gold-Silver Intercepts from Drilling at the Corina Gold Project in Peru
TSX-Venture: LRA
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News Release
including 164.50 165.40 0.90 1.86 2.40
COR19010 186.60 202.60 16.00 6.00 28.68
including 195.10 198.10 3.00 16.08 82.60
COR19010 206.90 210.60 3.70 7.66 51.56
including 207.90 208.90 1.00 17.35 126.00
COR19010 212.40 215.80 3.40 2.52 25.00
COR19010 222.65 230.30 7.65 4.08 37.93
including 222.65 228.40 5.75 4.95 45.85
including 224.45 224.95 0.50 8.14 77.60
The reported intercepts do not necessarily represent true widths. The current program is expected to run
until mid-October with a further four drillholes either planned or in progress (program total 14).
The main targets of the Corina Gold Project lie within the Calcauso community, Antabamba region,
Apurimac Department in Southern Peru. The geological setting is a belt of Tertiary-age volcanic rocks that
also host Ares’s Pallancata and Immaculada mining operations and past producer Selene, with Lara’s
project located approximately 15km north (approximately 25km by road) of the mill at Selene , which
currently processes ore from the Pallancata mine.
At Corina the host rocks are mostly felsic tuffs, cut by an E-W fault, with brecciation and veining that has
been mapped at surface over several kilometres. Mineralization is typically hosted by zones of brecciation
with silicification, stockworks and quartz veining, within two sub-parallel structures denominated Corina
and Micky. The Corina structure is mineralized, but has so far returned lower grades and carries grey-white
quartz and pyrite. The Micky structure has returned better grades, associated with chalcedonic quartz and
coliform textures typical of low sulphidation epithermal alteration systems. The current working hypothesis
is that the better intercepts on the Micky structure represent shoots that plunge shallowly to the east
(comparable to the comportment of the Pablo-Yurika silver vein at Pallancata and the Angela gold vein at
Immaculada).
Ares has the option to purchase the Corina Project from Lara by making staged cash payments totalling
US$4,150,000 of which US$300,000 has been paid to date, with the next installment of US$350,000 due
by July 2020. Ares must also carry out US$2,000,000 in exploration expenditures, which will most likely
be fulfilled by the current program, and pay a 2% net smelter return royalty on any future production (see
Company news release of June 23, 2014 for details).
Drilling Data, QAQC and Qualified Person
Drilling is being supervised by Ares geologists based at site , who then take the core down to the Ares
exploration base in Calhuanca, where it is photographed, logged and the altered sections sampled. One
quarter of core is sent to Ares’ certified internal laboratory at the Selene plant nearby and one-half of the
core is sent to ALS Chemex in Lima. The results reported in the table above are all from the independent
ALS Chemex laboratory. In addition to running all the samples through these two laboratories, Ares follows
the standard QAQC procedures of inserting blank, reference and duplicate samples into its sample lots.
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.
About Lara
Lara is an exploration company following the Prospect Generator business model, which aims to minimize
shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures
funded by partners. The Company currently holds a diverse portfolio of prospects and deposits in Brazil,
Peru, Colombia 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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