Lara Exploration Ltd.: New Gold Target Identified at the Lampa Project in Peru
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/14/10 -- Lara Exploration Ltd. (TSX VENTURE: LRA) ('Lara' or the 'Company') is pleased to report encouraging results from reconnaissance work on its 100%-owned Lampa Gold Project in southern Peru. The Company's field teams have outlined a 4 by 2 kilometre belt of gold bearing quartz veins hosted by sandstone and quartzites. Individual veins have been mapped for lengths of over 300 metres, with thicknesses in the range of 0.60 to 1.00 metres and evidence of numerous small-scale historical workings. The veining is epithermal and comprises vuggy quartz, with abundant iron oxides (after sulphides). Forty-four rock chips samples have been analyzed from this program, with the highest gold value 6.96 grams per tonne ('g/t'). The veins are also anomalous in cobalt, arsenic and bismuth.
Andre Gauthier, President, commented, 'We are happy with these initial gold results and what appears to be a very promising vein district. We plan to continue surface work to test the vein extensions and look at the other alteration zones in the coming months.'
The Lampa Gold Project is 4,800 hectares in size and located within a highly prospective structural corridor in southern Peru. Known deposits/mines in the same corridor include: Arasi (high sulphidation epithermal gold), El Cofre (low sulphidation epithermal silver), Pinaya (gold-copper porphyry), Berenguela (silver carbonate replacement) and San Judas (tungsten).
The geology comprises a predominantly sedimentary package of shales and slates of the Ananea Formation (Upper Silurian-Lower Devonian age) overlain by sandstones and quartzites (Jurassic age) and intruded by small stocks of diorite-tonalite and sills of quartz feldspar porphyry. On the west flank of the property, late andesite lava flows and agglomerates of the Tertiary-age cover the sedimentary package. The shales and slates of the Ananea Formation are host to important vein gold deposits in the Oriental Cordillera which are the source of the gold in the placers of the Madre de Dios.
Quality Control
The Lampa samples are fresh rock chips collected over 1.5 to 10 metres widths of alteration, with individual chips typically 2-3cm in size and individual samples 3.5 to 4.5 kilograms, with each tenth sample a field duplicate. The samples were prepared at the CIMM laboratory in Lima and analyzed for gold by 50 gram fire assay with atomic absorption finish and for other elements by ICP-35. Mercury was analyzed by the cold vapour method. The field duplicate samples (10 %) were analyzed in the same way at ALS Chemex in Lima.
Andre Gauthier, Lara's President, a member of the Quebec Order of Engineers, 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 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'.
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Lara Exploration Ltd.
Miles Thompson
CEO
+1 604-669-8777
Lara Exploration Ltd.
Andre Gauthier
President
+1 604-669-8777
Lara Exploration Ltd.
Julia Maxwell
Investor Relations
+1 604-669-8777
604-688-1157 (FAX)
Lara Exploration Ltd.
Chris MacIntyre
Investor Relations
+1 416 346-7660 or +381 63 571-425
info@laraexploration.com
www.laraexploration.com