The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Lara Exploration Ltd.: Surface Sampling Results from Picha Copper-Silver Project in Peru

Wednesday, July 25, 2012

Lara Exploration Ltd.: Surface Sampling Results from Picha Copper-Silver Project in Peru07:30 EDT Wednesday, July 25, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2012) - Lara Exploration Ltd. (TSX VENTURE:LRA) is pleased to report that its partner, Network Exploration Ltd. ("Network"), continues to advance preparations for diamond drilling on the Company's Picha Copper-Silver Project in Peru, with detailed fieldwork to locate and orientate the planned holes. As part of this work, surface sampling of exposed mineralization at the Cobremani Target has returned encouraging copper values with up to 3.78% from rock chip sampling of old surface workings. The Cobremani target, one of 11 targets identified to date on the property, comprises an area of exposed quartz (chalcedony) veining and brecciation, with copper mineral (malachite, azurite, chrysocolla and tenorite) and iron oxides within zones of clay and chlorite alteration that extends some 100 metres by 80 metres in area and has been worked on a small scale in the past. Results of the sampling of exposures accessible in some of the old workings are summarized the following table: Accessible workings in this area, which yielded the following results:SampleEastingNorthingSample Dimensions (m)% CuSilver (g/t)107401347,7488,218,8723.00 x,7548,218,8843.00 x 0.200.733.1107403347,7568,218,8803.00 x 0.203.7812.2107404347,7468,218,9291.00 x 0.200.2820.4107405347,7558,218,9413.00 x 0.203.4631.0107406347,7568,218,9373.00 x 0.200.2843.0107407347,7578,218,9343.00 x 0.200.492.3107408347,7588,218,9323.00 x 0.201.7994.3107409347,7608,218,9303.00 x,8008,218,9550.80 x 0.200.798.1107411347,8058,218,9451.00 x 0.200.551.1107412347,8068,218,9421.00 x 0.200.691.6107413347,8008,218,9381.10 x 0.200.691.2Quality Control All the samples noted above were taken by Network's Project Geologist, Mr. Fernandez-Concha. They consisted of continuous chip sampling within individually marked sample "channels", the sizes of which are noted in the table. Mr. Fernandez-Concha also supervised their transportation by Company personnel to the prep lab of Certimin C.A., in Juliaca, about 75km northeast of Picha; which were in turn forwarded to their full facility assay lab in Lima for analysis in the form of a 38-element ICP package. Besides the copper and silver analyses noted in the above table, some of the other, more significant elements associated with Cobremani resulted in: gold (all < 0.005 ppm), arsenic (40 - 2245 ppm), mercury (< 1 - 5 ppm), molybdenum (1 - 57 ppm), lead (32 -411 ppm), antimony (< 5 - 6 ppm) and zinc (88 - 161 ppm). André Gauthier, P. Eng., President of Lara Exploration Ltd., who is the Qualified Person for Lara under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators has approved this press release and verified the data disclosed.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. It currently holds a diverse portfolio of prospects and deposits primarily in Brazil and Peru where it has signed agreements for fifteen joint ventures and two strategic alliances. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA". FOR FURTHER INFORMATION PLEASE CONTACT: Chris MacIntyreLara Exploration Ltd.VP Corporate Development+1 416 703 0010www.laraexploration.comNeither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.