The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Lara Samples 2.15% Copper at Sao Juliao, Northeast Brazil

Monday, October 29, 2012

Lara Samples 2.15% Copper at Sao Juliao, Northeast Brazil07:00 EDT Monday, October 29, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2012) - Lara Exploration Ltd., ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to report that its field review of the newly optioned São Julião Copper Project in Piauí State, northeast Brazil has returned values over 1% copper from surface sampling on three target areas.Lara's geologists completed field checks and grab sampling on the Mandacaru, Carnaubinho and Cruz das Almas target areas, all of which returned values in excess of 1% copper from samples with abundant malachite. The 21 grab rock samples collected of more obviously mineralized material and associated wall rocks, returned copper values ranging from 9 parts per million ("ppm") to 2.15%. Five orientation soil samples returned values ranging from 29 to 777 ppm copper. Rock samples from Mandacaru with higher copper values, were also anomalous in gold, with values ranging from 18 to 162 parts per billion ("ppb). The copper mineralization encountered is mostly secondary (the main mineral is the copper carbonate, malachite) associated with iron oxides, silicification, quartz veining, breccias and altered granitic intrusives. Results from the samples that returned over 1% copper are tabulated below:TargetSample IDCopper (%)Gold (ppb)MandacaruMAND-NE-R-21.8331MandacaruMAND-NE-R-41.9618MandacaruMAND-R-31.82162CarnaubinhoCARN-R-021.49Cruz das AlmasCRUZ-ALM-R-11.42Cruz das AlmasCRUZ-ALM-R-32.15The São Julião Copper Project comprises approximately 14,505 hectares of exploration licenses and claims, located near the towns of São Julião and Fronterias, approximately 385 kilometres by paved highways from Teresina, the State Capital. Lara has an option to acquire a 100% interest in the properties (see Company news release of July 22, 2012 for details). The copper-gold mineralization at São Julião has been interpreted as Iron Oxide Copper Gold ("IOCG") in style, associated with iron-rich breccias in altered volcanic rocks, related to rifting and porphyry granite intrusions.Quality ControlMichael Bennell, Lara's Vice President Exploration and a Fellow 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 LaraLara 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 of prospects and deposits primarily in Brazil and Peru where it has signed agreements for fifteen joint ventures and three Strategic Alliances. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA". For further information on Lara Exploration Ltd. please consult our website FURTHER INFORMATION PLEASE CONTACT: 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.Chris MacIntyreVP Corporate Development+1 416 703