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Lara Exploration Ltd: Diamond Drilling Identifies More Extensive Vanadium Mineralization at the Itaituba Project in Brazil
Vancouver, British Columbia--(Newsfile Corp. - April 12, 2021) - Lara Exploration Ltd. (TSXV: ...
About this update from Lara Exploration Ltd.
[{"type":"text","content":"Lara Exploration Ltd: Diamond Drilling Identifies More Extensive Vanadium Mineralization at the Itaituba Project in BrazilVancouver, British Columbia--(Newsfile Corp. - April 12, 2021) - Lara Exploration Ltd. (TSXV: LRA) (\"Lara\" or \"the Company\"), is pleased to report that it has completed a reappraisal of the diamond drilling and ground magnetometer survey results for its Itaítuba vanadium project, in the Tapajós region of northern Brazil. Project work initially focused on vanadium-bearing magnetite bodies, but the recent work has shown that the host gabbros also contain disseminated vanadium-bearing magnetite that can be concentrated to enrich the vanadium grade. Surface mapping and the magnetic survey show these gabbros to be extensive within the Lara property and the Company plans to undertake further geophysical surveys and follow-up drilling later in the year.Half core samples from four scout holes were subjected to Davis Tube Recovery (\"DTR\") testing and the resulting magnetic concentrates then assayed for vanadium pentoxide (\"V2O5\"). In the fresh rock sections of three of the holes (holes SR-02, SR-03 and SR-04), significant intervals were identified, where the magnetite concentrate recovery values are in the order of 10 to 20% of the original core sample mass. In two of these holes (SR-03 and SR-04) the V2O5 grades for these concentrates are in the order of 0.8% to 1.1% (see table below). The hole SR-04 has the thickest interval of 47.65m and is still open to depth. The down hole intervals are assumed to be approximately true width, based on the surface mapping information and the drill core logging.DRILL HOLEE-UTMN-UTMFrom (m)To (m)Width (m)DTR (%)V2O5 in concentrate (%)SR-016243569500481No significant resultsSR-02624569950055970.9075.354.4520.750.64SR-03624463950037824.0341.8017.7717.340.83SR-04624362950010425.7073.3547.6511.020.91incl51.4055.754.3515.561.08and66.3571.855.5014.491.15No significant vanadium enrichment was detected in the magnetic concentrates in the weathered saprolite upper parts of any of the four drill holes. The core logging indicates that the vanadium enriched zones are associated with intercalated units of magnetite-olivine-gabbro and ferro-gabbro. Contacts observed in the cores indicate a sub-horizontal or gently west-dipping attitude for these units consistent with the dips of...