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Lara Exploration Ltd: Drilling Resumes at the Planalto Copper Project in Brazil
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Lara Exploration Ltd. (TSXV: LRA) ...
About this update from Lara Exploration Ltd.
[{"type":"text","content":"Lara Exploration Ltd: Drilling Resumes at the Planalto Copper Project in BrazilVancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Lara Exploration Ltd. (TSXV: LRA) (\"Lara\") is pleased to report that it has received a new exploration permits from the Canãa dos Carajás municipal environmental agency to drill a further eleven infill and exploratory holes (approximately 3,700m) to test the northern and southern strike trends of the new Cupuzeiro discovery and to better constrain the limits of the higher-grade mineralization zone (see Lara news releases of May 16 and September 13, 2022 for details). Most of this drilling will be large diameter HQ core to provide sufficient material for ongoing metallurgical test work.Exploration permits for new drill pads in the vicinity of the earlier Homestead discovery have now also been issued by the local municipal environmental agency. Thirteen priority holes (total of 3,200m) are programmed as infill to the earlier drill programs in 2017 to 2019, and to test for extensions of the mineralization to the southwest and southeast of the Homestead discovery. The plan is to also test the gap between the Cupuzeiro and Homestead discoveries and the environmental permitting for thirteen proposed holes is in progress at the municipal environmental agency.One drill rig has already been mobilized and three more are scheduled to arrive on site within the next two weeks.The company advises that assay results for the recently completed program of 3,134.31m (in 6 holes) that tested the immediate northern extensions of the Cupuzeiro discovery will be released within two to three weeks, once some laboratory quality control issues have been resolved. About the Planalto Project:The Planalto Copper Project covers volcano-sedimentary sequences and intrusives of early Proterozoic-age with IOCG-type mineralization, located near Vale's Sossego mine and Cristalino deposit and BHP's Pedra Branca mine and Antas mill, in the Carajás Mineral Province of northern Brazil. Lara now owns 100% of the Homestead discovery, subject to a 2% NSR royalty payable on any production (Lara retains the right to purchase 50% of this royalty for a cash payment of US$2 million). Lara has further options to acquire outright two adjacent licenses, covering northward strike extensions to the Homestead mineralization ...