Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

November 04, 2009 07:30 ET

Lara Starts Curionopolis Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2009) - Lara Exploration Ltd. ("Lara" or "the Company") (TSX VENTURE:LRA) is pleased to report that it has initiated a 15-hole, 2,000 metre diamond drilling program to outline iron ore resources on its Curionopolis iron-oxide-copper-gold ("IOCG") project in the Carajas District of northern Brazil. The Company has also identified a number of gold and multi-element anomalies from a recently completed reconnaissance field program over its entire 21,164 hectare property package.

Lara's regional stream sediment sampling has identified several high-priority gold anomalies throughout the property and a five by two kilometre multi-sample, multi-element copper-gold-silver-molybdenum-bismuth-tungsten anomaly. This multi-element anomaly has many of the geochemical elements commonly associated with IOCG-related gold deposits and shows some geochemical similarities with Vale S.A.'s large copper-gold deposit at Breves in the same district.

The iron ore drilling program is being operated by Lara under the agreement with Vertical Mineracao Ltda. ("Vertical"), a special purpose company owned by a group of Brazilian iron producers. Vertical obtained an option to acquire the Curionopolis iron ore targets from Lara for US$1.4 million in cash payments, and US$3 million in exploration work commitments and production royalties (see Lara news release of September 8, 2009 for details).

The Curionopolis Project lies adjacent to the Rio Novo (a joint venture between Teck Resources Ltd. and International Nickel Ventures Corp.) and the Serra and Rio Verde (Avanco Resources Ltd.) copper-gold projects and just to the south of the Serra Pelada gold-platinum-palladium deposit (Colossus Minerals Inc.).

Quality Control

Michael Bennell, Lara's Vice President Exploration and a member 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 is responsible for the preparation and verification of the technical information in this release.

About Lara

Lara is a well-capitalized prospect generator with a multi-commodity exploration portfolio in Brazil, Colombia and Peru. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Lara Exploration Ltd.
    Miles Thompson
    President
    604-669-8777
    or
    Lara Exploration Ltd.
    Julia Maxwell
    Investor Relations
    604-669-8777
    604-688-1157 (FAX)
    or
    Lara Exploration Ltd.
    Chris MacIntyre
    Investor Relations
    416-640-1932
    info@laraexploration.com
    www.laraexploration.com