Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

June 09, 2009 07:30 ET

Lara Delineates Phosphate Targets in Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2009) - Lara Exploration Ltd. ("Lara" or "the Company") (TSX VENTURE:LRA) is pleased to report that it has registered claims, totaling approximately 80,000 hectares, covering a series of high-grade phosphate beds in the Cretaceous sedimentary sequences in the Boyaca District of the Central Colombian Andes. There are three main phosphate-bearing units within the sequence. In various places these phosphate beds are mined on a small-scale to produce 25-35% P2O5 phosphate rock, which is generally milled and consumed locally as direct application fertilizer.

The claim blocks, denominated Tasco, Tota, Iza and Nueva Colon, cover synclinal and anticlinal fold structures, where the mineralized units are repeated and can be traced at surface for many kilometers. Fieldwork has comprised field checks and stratigraphic mapping to delineate the areas with the thickest and most extensive phosphate units. To date the most promising target is Iza, on the western flank of the San Miguel syncline, where the upper phosphate unit comprises stacked massive phosphate beds with an aggregate thickness of more than 4 meters. This synclinal fold is 15 kilometers long and 2 kilometers wide, with the target phosphate bed exposed on both flanks of the fold (i.e. approximately 30 kilometers of near-surface extension). The Company plans to conduct more detailed mapping and systematic channel sampling around the San Miguel syncline and other priority targets in the coming months, aiming to delineate potentially bulk-mineable areas.

The Boyaca claims are held indirectly through Colombia Alliance (BVI) Ltd., a joint venture company held 70% by Lara Alliance (BVI) Ltd., and 30% by Colombian consulting group Geotec. Lara Alliance (BVI) Ltd., is in turn owned 50% by Lara and 50% by Sprott Resource Corp.

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-funded 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.
    Kim Casswell
    Corporate Secretary
    (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