Lara Exploration Ltd.

Lara Exploration Ltd.

March 20, 2008 07:30 ET

Lara Outlines Primary Tin Mineralization at Sao Lourenco

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2008) - Lara Exploration ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to report that it has sampled widespread primary tin mineralization associated with vein stockworks in the alkali-granites of the Serra Isaac and Serra Irene hills at Sao Lourenco in Rondonia State, Northwest Brazil. Approximately 20% of the grid area sampled to date has returned values in excess of 0.1% cassiterite (tin oxide SnO2), of which approximately half has returned values in excess of 0.2% cassiterite.

The Company has completed a Phase-1 exploration program at Sao Lourenco comprising a 200 meter by 50 meter sampling grid (with partial infill to 100 meters) over the exposed surfaces of the Serra Isaac and Serra Irene hills, which sit within the old mining area and are considered to have been the source rocks for the placer tin mined in the past. The target granites are exposed over an area of approximately 3,800 meters by 1,000 meters, with a river (probably following a fault) separating the two hills. Mineralization, in the form of the tin oxide cassiterite, is hosted by zones of sheeted quartz and rhyolite veining and in their surrounding alteration (greisen) halos. Serra Irene also has a wide area of sulphide mineralization comprising pyrite, chalcopyrite, sphalerite and galena.

The Company plans a Phase-2 program of infill sampling, geophysics, trenching and bulk sampling in the coming months, to define near-surface resources and drill targets.

Miles Thompson, President and CEO of Lara, says, "We are very excited about these results as they indicate that we may be able to quickly define a significant, near surface, tin resource at Sao Lourenco, at a time of tight supply and record tin prices."

The Sao Lourenco mine operated in the 1970's and 1980's, producing approximately 12,000 tonnes of tin from placer (alluvial) mining. In January 2007, the Company signed an option agreement to purchase 100% of the Sao Lourenco mining rights for approximately US$1.07 million (approx. US$48,000 paid to date) payable over three years.

Quality Control

This Phase-1 program comprised chip, channel and grab samples, depending on whether the exposure sampled comprised vein material, weathered (saprolite) or fresh granite. Samples were prepared and analyzed using X-Ray Fluorescence at the commercial SGS-Geosol Laboratory in Belo Horizonte (Minas Gerais State), with blank, standard and duplicate samples included for QAQC purposes. Semi-quantitative mineralogical analyses were also undertaken at the State University of Rio de Janeiro.

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

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Lara Exploration Ltd.
    Miles Thompson
    (604) 669-8777
    Lara Exploration Ltd.
    Kim Casswell
    Corporate Secretary
    (604) 669-8777
    (604) 688-1157 (FAX)