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Lara Completes Preliminary Review of the Azul Tin Project in Brazil
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 16, 2016) - Lara Exploration Ltd., ("Lara" or the "Company") (TSX VENTURE:LRA) is pleased to report that it has
About this update from Lara Exploration Ltd.
[{"type":"text","content":" VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 16, 2016) - Lara Exploration Ltd., (\"Lara\" or the \"Company\") (TSX VENTURE:LRA) is pleased to report that it has completed a preliminary review of the historical data, more recent exploration results, drill core and made field visits to the Azul Tin Project in Tocantins State, central Brazil. Based on this review, the Company has completed the second payment due under the terms of the Purchase Option Agreement (the \"Agreement\") signed with Best Metais e Soldas S.A. (\"BEST\"). Sixty-one diamond drill holes were completed by BEST in the early 1980's to test extensions of the tin mineralization exposed in the pits. The position of the older drill holes from the 1980's are mostly still marked with concrete posts that can be located in the field (and which have been surveyed into the database), but the cores are no longer in a usable state. However, as part of the Agreement with BEST, Lara has acquired the data and drill core from seven more recent check holes, completed in 2014, results of which are summarized in Table 2. Table 2. DRILL RESULTS FROM 2014 PROGRAM Hole ID UTM-E UTM-N Az. Dip From (m) To (m) Width (m) Tin % TAD-001 765745 8546780 90 -60 22.32 25.12 2.80 0.88 including 22.32 23.12 0.80 1.94 TAD-002 765725 8546780 90 -60 29.60 33.30 3.70 1.33 TAD-003 765705 8546780 90 -60 38.00 45.04 7.04 0.47 TAD-004 765620 8546680 90 -60 73.40 74.10 0.70 1.03 TAD-005 765700 8546760 90 -60 45.70 47.30 1.60 3.84 TAD-006 765750 8546760 90 -70 17.70 24.50 6.80 1.09 and 29.50 31.50 2.00 0.37 TAD-007 765610 8546641 90 -64 No significant mineralization (i) Intercept intervals are slightly oblique to foliation, so close to, but do not represent true thicknesses; (ii) Intercepts were calculated using weighted average grade/thickness, with a 0.1% tin grade minimum cut-off, a maximum 1.5m width of internal dilution and a 6% tin grade top-cut. The 2014 drilling program intercepted mineralization over similar widths and at similar grades as the original programs from the 1980's and greatly increases the confidence in the historical data. Lara's review of the project and the historical data has been very encouraging and clearly demonstrates the potential to outline tin mineralization of economic significance within the Azul Project. The Azul Tin Project comprises a 671-hectare Mining License; w...