Lara Exploration Ltd.
TSX VENTURE : LRA

Lara Exploration Ltd.

July 14, 2010 07:30 ET

Lara Exploration Ltd.: Copper-Gold Targets Outlined at Curionopolis in Northern Brazil

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2010) - Lara Exploration Ltd. ("Lara" or "the Company") (TSX VENTURE:LRA) is pleased to report that reconnaissance work by its field teams have outlined two extensive copper-gold targets (Osmar and Chico) at its Curionópolis property in the Carajás District of northern Brazil.

The Company has completed stream sediment sampling throughout the property, identifying several high priority gold and copper anomalies in -80# sediment samples, with the Chico Target to the northwest of the town of Curionópolis reporting the best results, 443 parts per billion gold ("ppb Au"), 733 parts per million copper ("ppm Cu") with anomalous bismuth (max. 84 ppm), molybdenum (max. 24 ppm) and tungsten (max. 23 ppm). The Osmar target, with known small-scale copper workings, showed higher gold values with a maximum of 2,945 ppb Au but copper results were somewhat lower with a maximum of 154 ppm Cu from stream sediment sampling.

Lara's geologists have so far completed follow-up soil sampling and rock chip sampling over an area of approximately four kilometres by three kilometres on the Chico target zone, identifying more than twelve north-west or north-northeast oriented, sub-vertical auriferous quartz-iron-oxide veins and breccias dominated by hematite and magnetite. The rock chip sampling indicates that veins on this trend are gold-rich with anomalous values of copper, silver, molybdenum and locally tin. Individual veins vary from a few tens of meters to several hundred meters in strike length and locally form a sheeted vein system. To date only reconnaissance rock chip sampling has been completed, with the best result of 8.6 g/t Au over 2.5 metres from the main Chico working. Rock chip grab samples from veins and rock dumps at other current and abandoned small-scale workings indicate gold values up to a maximum of 24.78 ppm Au. Vein textures are suggestive of a high level epithermal vein emplacement.

On the two kilometre long Osmar target, located to the west of Curionópolis, ten north- or northeast orientated breccia veins with oxidized copper and gold mineralization have been identified and many are being partially exploited on a small-scale by artisanal miners ("garimpeiros"). Orientation -80# soil gridding has been carried out with the best soil values of 10,000 ppm Cu and 406 ppb Au. Copper and gold soil anomaly zones are generally co-incident and many of the highest values are closely related to the presence of known copper veins. The copper-in-soil anomalies generally show a greater aerial extent than for gold. The best rock chip sample, taken from one of the exposed veins with secondary copper mineralization reported 1,576 ppb Au and 18.9 % Cu. Soil sampling has also identified further anomalous copper zones 2 kilometres to the west and to the southwest of the Osmar target.

The mineralization identified at Curionópolis is IOCG-type (iron oxide copper gold), typical of the Carajás District. Gold and copper values are accompanied by anomalous arsenic, silver, bismuth, tungsten, molybdenum and uranium. Geology of the target areas are metamorphosed volcano-sedimentary sequences with wide-spread magnetite and actinolite veining, as well as, pervasive actinolite, albite and scapolite alteration that is also typical of IOCG systems.

The Company's 100%-owned Curionópolis Property covers 16,452 hectares and is located in the prolific Carajás District, approximately 10 kilometres south of the Serra Pelada gold project being developed by Colossus Minerals Ltd.

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 the Technical Report and in this 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 prospects and deposits in Brazil, Peru, Colombia and China. 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
    CEO
    +1 604-669-8777
    or
    Lara Exploration Ltd.
    Andre Gauthier
    President
    +1 604-669-8777
    or
    Lara Exploration Ltd.
    Julia Maxwell
    Investor Relations
    +1 604-669-8777
    +1 604-688-1157 (FAX)
    or
    Lara Exploration Ltd.
    Chris MacIntyre
    Investor Relations
    +1 416-346-7660
    info@laraexploration.com
    www.laraexploration.com