Peru. Hochschild completed a further 2,318 metres of resource drilling in Q4-2020 on the Corina structure, in follow-up to the discovery drilling completed in 2019 (see Company news release of
February 2, 2021 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”), is pleased to report the receipt of
additional drill results from partner Hochschild Mining plc ., for Lara’s Corina Gold Project in southern
Peru. Hochschild completed a further 2,318 metres of resource drilling in Q4-2020 on the Corina structure,
in follow-up to the discovery drilling completed in 2019 (see Company news release of October 1, 2019
for details). Drilling continues with resource and exploration drilling in the Corina and associated structures
to the northeast of the system. The new results are summarized in the table below:
The reported intercepts are close to, but do not necessarily represent true widths.
Hochschild has the option to purchase the Corina Project from Lara by making staged cash payments
totalling US$4,150,000 of which US$650,000 has been paid to date , with the next installment of
US$1,000,000 due in July 2021. Hochschild also has the obligation to pay a 2% net smelter return royalty
on any production (see Company news release of June 23, 2014 for details).
The Corina Gold Project covers part of a belt of Tertiary-age volcanic rocks in southern Peru that also host
Hochschild’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.
Drilling Data, QAQC and Qualified Person
Drilling is being supervised by Hochschild’s brownfields technical team, based at the Pallancata Mine. The
Q4-2020 drilling generated 1,080 core samples, which were submitted for analysis at Hochschild’s internal
laboratory at the Selene Plant nearby, along with a total of 234 QAQC reference samples (blanks, standards
and duplicates).
Drillhole ID UTM-E UTM-N From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
DHCOR20015 716,351.55 8,390,929.94 182.70 212.30 29.60 2.5 23
including 184.50 187.35 2.85 10.1 62
DHCOR20018 716,133.76 8,391,095.60 157.80 159.80 2.00 1.2 14
DHCOR20019 716,276.78 8,390,952.96 205.50 211.30 5.80 1.4 23
DHCOR20020 716,351.47 8,390,930.03 204.65 236.20 31.55 4.9 43
DHCOR20021 716,138.68 8,391,093.65 143.75 163.10 19.35 3.9 47
including 151.70 156.50 4.80 8.4 88
DHCOR20022 716,276.77 8,390,952.72 243.50 245.30 1.80 1.4 3
DHCOR20025 716,278.10 8,390,954.99 201.40 206.70 5.30 3.6 19
Hochschild Intercepts 31.55m averaging 4.9g/t Gold and 43g/t Silver at the Lara’s
Corina Gold Project in Peru
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
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 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 and Peru. 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.
-30-