News Release
Lara Starts Curionópolis Drill Program
November 4, 2009 (TSX Venture: LRA) - Lara
Exploration Ltd. (“Lara” or “the Company”) is pleased to report that it has
initiated a 15-hole, 2,000 metre diamond drilling program to outline iron
ore resources on its Curionópolis iron-oxide-copper-gold (“IOCG”) project
in the Carajás District of northern Brazil. The Company has also identified
a number of gold and multi-element anomalies from a recently completed
reconnaissance field program over its entire 21,164 hectare property
package.
Lara’s regional stream sediment sampling has identified several
high-priority gold anomalies throughout the property and a five by two
kilometre multi-sample, multi-element
copper-gold-silver-molybdenum-bismuth-tungsten anomaly. This multi-element
anomaly has many of the geochemical elements commonly associated with
IOCG-related gold deposits and shows some geochemical similarities with
Vale S.A.’s large copper-gold deposit at Breves in the same district.
The iron ore drilling program is being operated by Lara under the
agreement with Vertical Mineração Ltda. (“Vertical”), a special purpose
company owned by a group of Brazilian iron producers. Vertical obtained an
option to acquire the Curionópolis iron ore targets from Lara for US$1.4
million in cash payments, and US$3 million in exploration work commitments
and production royalties (see Lara news release of September 8, 2009 for
details).
The Curionópolis Project lies adjacent to the Rio Novo (a joint
venture between Teck Resources Ltd. and International Nickel Ventures
Corp.) and the Serra and Rio Verde (Avanco Resources Ltd.) copper-gold
projects and just to the south of the Serra Pelada gold-platinum-palladium
deposit (Colossus Minerals Inc.).
Quality Control
Michael Bennell,
Lara’s Vice President Exploration and a member 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 Lara
Lara is a well-capitalized prospect
generator with a multi-commodity exploration portfolio in Brazil, Colombia
and Peru. 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
or contact:
Miles Thompson –
President, 604-669-8777.
Investor Relations:
Julia Maxwell - 604-669-8777
Chris MacIntyre – 416-640-1932
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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