| Lara Exploration Ltd.: Antofagasta Relinquishes Sami Option | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 29, 2014) - Lara Exploration Ltd. ("Lara" or the "Company") (TSX VENTURE:LRA) reports that Antofagasta Minerals S.A. ("Antofagasta") has dropped its option to earn up to a 75% interest in the Company's Sami Gold-Copper Project in southern Peru. The Sami Project, located in the Ayacucho and Huancavelica departments of southern Peru, comprises approximately 50,000 hectares of mineral rights. Exploration work completed in 2011-12 by the Company outlined 20 gold-copper targets associated with epithermal and porphyry style alteration assemblages with quartz veining, siliceous bodies, hydrothermal breccias, oxidized vein stockworks. This exploration work included systematic alteration, geological and structural mapping and 1,862 rock chip samples, focused primarily on a high sulphidation epithermal gold anomaly at Pitusaja, over 2 kilometres in length and which probably extends through shallow cover to the nearby Condorutca and Pitusaja Sur targets that are interpreted as being part of the same alteration system. Lara plans to review data from the geophysics and the drill hole completed by Antofagasta on the Sami East target and to seek a new partner for the project. Quality Control Andre Gauthier, 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 has verified, and approved the disclosure of, the technical information in this news 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 of prospects and deposits in Brazil, Peru, Colombia and Chile. 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.
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Lara Exploration Ltd.
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EXPLORATION STAGE |
CODE : LRA.V |
ISIN : CA5166831092 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Lara Expl. is a silver and gold exploration company based in Canada. Lara Expl. holds various exploration projects in Brazil. Its main exploration properties are CAMPOS VERDES, SÃO LOURENÇO, CURIONOPOLIS, CONCEICAO BRAZIL, ARAGUAIA, CANABRAVA and LIBERTADE BRAZIL in Brazil and LARA COPPER, PICHA and LAMPA in Peru. Lara Expl. is listed in Canada and in United States of America. Its market capitalisation is CA$ 35.2 millions as of today (US$ 25.9 millions, € 23.5 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 2.14, and its lowest recent point on August 07, 2015 at CA$ 0.20. Lara Expl. has 34 210 000 shares outstanding. |