Drilling Extends Mineralized Envelope at the Lara Copper Project, Peru
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/28/12 -- Lara Exploration Ltd. (TSX VENTURE: LRA) ('Lara' or the 'Company') is pleased to report positive results from step-out drilling at the Lara Copper-Molybdenum Project in southern Peru. The 4,700 metre program, funded through a partnership with Redzone Resources Ltd. (TSX VENTURE: REZ) ('Redzone'), aimed to test extensions of the porphyry system outlined by recent geological mapping, surface sampling, drilling and geophysical surveys.
These drill new results show that the mineralized envelope extends eastward for 800 metres from the Lara Hill to the Socos Target and that sulphide (hypogene) mineralization extends to depths of up to 300 metres, with average grades in the range of 0.3% and 0.5% copper equivalent. The target mineralization has now been shown to extend for 2.0 kilometres east to west, up to 500 metres north to south, remaining open to the southwest and the east.
Highlights of this drilling program are summarized in the table below:
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DDH From (m) To (m) Interval Cu (%) Mo (%) CuEq (%)(i)
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LA-39 170 220 50 0.1879 0.0269 0.34
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275 430 155 0.214 0.0102 0.27
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LA-40 85 235 150 0.1879 0.0175 0.29
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LA-42 170 245 75 0.188 0.0034 0.21
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295 375 80 0.2149 0.00617 0.25
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LA-46 140 375 235 0.2894 0.00769 0.33
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(i) CuEq refers to the copper equivalent which assumes prices of US$2.80 per
pound for copper and US$16 per pound for molybdenum and is calculated using
the following formula: CuEq% = ((Cu% x US$2.80) + (Mo% x US$16))/(US$2.80).
Quality Control: The Company follows industry standard quality assurance and quality control procedures for all its samples, under the supervision of Noel Diaz, General Manager Peru and Andre Gauthier, P. Eng., President of Lara Exploration Ltd., who is the Qualified Person and responsible for the content of this press release pursuant to NI 43-101.
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 of prospects and deposits primarily in Brazil and Peru where it has signed agreements for fifteen joint ventures. 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.
Contacts:
Lara Exploration Ltd.
Chris MacIntyre
VP Corporate Development
+1 416 703 0010
info@laraexploration.com
www.laraexploration.com