Lara Exploration Ltd.: Surface Sampling Results from Picha Copper-Silver Project in Peru
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/25/12 -- 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:
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Sample Silver
Sample Easting Northing Dimensions (m) % Cu (g/t)
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107401 347,748 8,218,872 3.00 x 0.20 2.02 2.4
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107402 347,754 8,218,884 3.00 x 0.20 0.73 3.1
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107403 347,756 8,218,880 3.00 x 0.20 3.78 12.2
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107404 347,746 8,218,929 1.00 x 0.20 0.28 20.4
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107405 347,755 8,218,941 3.00 x 0.20 3.46 31.0
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107406 347,756 8,218,937 3.00 x 0.20 0.28 43.0
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107407 347,757 8,218,934 3.00 x 0.20 0.49 2.3
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107408 347,758 8,218,932 3.00 x 0.20 1.79 94.3
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107409 347,760 8,218,930 3.00 x 2.00 0.19 4.9
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107410 347,800 8,218,955 0.80 x 0.20 0.79 8.1
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107411 347,805 8,218,945 1.00 x 0.20 0.55 1.1
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107412 347,806 8,218,942 1.00 x 0.20 0.69 1.6
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107413 347,800 8,218,938 1.10 x 0.20 0.69 1.2
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Quality 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 less than 0.005 ppm), arsenic (40 - 2245 ppm), mercury (less than 1 - 5 ppm), molybdenum (1 - 57 ppm), lead (32 -411 ppm), antimony (less than 5 - 6 ppm) and zinc (88 - 161 ppm).
Andre 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".
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
www.laraexploration.com