Planalto copper property in the Carajás region of northern Brazil. The survey, together with additional field mapping and surface sampling, indicates potential extensions to the Homestead mineralization within Lara’s existing property and to the north into the newly optioned Zaspir and Tariana prope
March 22, 2021 (TSX Venture: LRA) - Lara Exploration Ltd. (“Lara”), is pleased to report that it has
completed a further 18 line kilometers of Induced Potential (IP) chargeability and resistivity surveys at its
Planalto copper property in the Carajás region of northern Brazil. The survey, together with additional field
mapping and surface sampling, indicates potential extensions to the Homestead mineralization within
Lara’s existing property and to the north into the newly optioned Zaspir and Tariana properties. A diamond
drilling program of initially 4,350 metres is planned to start in second quarter to test these new targets, see
Figure 1. below for details:
Figure 1
Geophysical Surveys Completed and Step-out Drilling Planned at the Planalto
Copper Project in Brazil
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
The greater part of the survey, approximately 12 line kilometers, in seven E-W-orientated lines with a line
separation of 200m , tested the area along a 1 ,200-meter-long north -south trend to the north of the
Homestead mineralization. This area was recently optioned from Zaspir Mineração Ltda., and Mineração
Tariana L tda., (see Lara news release s of January 11 and March 15 , 2021). Sparse outcrops of mafic
volcanic rocks of mostly basaltic composition were mapped along this trend and quartz - and quartz -
potassium-feldspar-magnetite veining, carrying chalcopyrite mineralization, were identified that are very
similar to the copper mineralization present at the Homestead target. A further six line kilometers were used
to test for possible extensions of copper mineralization in the areas to the west, east and south of the
mineralization already outlined at the Homestead target (see Lara news releases of July 19, 2018, July 23,
2019 and April 20, 2020 for details).
Interpretation of the chargeability data is now complete and inversion models for both areas have been
generated. In the northern area, a stron g IP chargeability anomaly is present along a 1 ,400m long north-
northwesterly trend located at the eastern margin of the interpreted mafic volcanic unit. Geological mapping
observations indicate that this mafic unit is in contact with a unit of quartz -rich epiclastics and fragmental
intermediate-felsic volcanic tuffs. Along 400 -500m in the central part of this NNW trend, the inversions
indicate that the mafic unit, with the anomalous IP chargeability, has a steep westerly dip, could be as much
as 150-200m wide, and is modelled to extend to depths in excess of 400m vertical.
Anomalous IP chargeability zones were also located to the southwest of the Homestead mineralization and
to the south at the contact between the mafic volcanic rocks and the main granite intrusive, as well as, within
the granite intrusive in an area where secondary copper minerals (mainly malachite) were observed in
narrow (mm- to cm-wide) hydrothermally altered shear zones.
The exact timing of the planned diamond drilling program is subject to the end of the currently heavy rains
and being able to safely address the health and safety issues related to the Covid -19 pandemic in this part
of Brazil. Drill holes are planned to test the main IP chargeability zone in the northern Tariana area, targets
to the west and east of the known Homestead mineralization, and down dip extensions of the copper
mineralization where deeper IP chargeability zones were identified in this and the previous IP surveys
conducted on the property.
About the Planalto Project
The Planalto Copper Project cover s meta-volcano-sedimentary sequences and intrusives 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 has the
option to purchase 100% of the Planalto Project by making staged cash payments totaling US$500,000
(US$250,000 paid to date) and paying a 2% NSR royalty on any production (Lara retains the right to
purchase 50% of this royalty for a cash payment of US$2 million). Lara has a staged earn -in agreement
with Capstone Mining Corp., (see Company news release of February 4, 2019 for details), where by
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 i ts 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 and Peru. 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 Pe rson 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.
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