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Press Release - Lara Exploration (LRA-TSX.V) |
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“We have something that you just cannot go out and buy. We have all been working in South America for a long time. I have been there since the mid-1980’s, and my vice president has been there since the mid-1970’s. We also have a team of very senior Brazilian and Peruvian geologists that work with us and collectively we have pretty much been everywhere seen everything...” - Miles Thompson (LRA) (Interview published February 22, 2008) |
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Lara Outlines Primary Tin Mineralization at São Lourenço
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March 20, 2008
Lara Exploration ("Lara" or the "Company") is pleased to report that it
has sampled widespread primary tin mineralization associated with vein
stockworks in the alkali-granites of the Serra Isaac and Serra Irene
hills at São Lourenço in Rondônia State, Northwest Brazil.
Approximately 20% of the grid area sampled to date has returned values
in excess of 0.1% cassiterite (tin oxide SnO2), of which approximately
half has returned values in excess of 0.2% cassiterite.
The Company has completed a Phase-1 exploration program at São Lourenço
comprising a 200 meter by 50 meter sampling grid (with partial infill
to 100 meters) over the exposed surfaces of the Serra Isaac and Serra
Irene hills, which sit within the old mining area and are considered to
have been the source rocks for the placer tin mined in the past. The
target granites are exposed over an area of approximately 3,800 meters
by 1,000 meters, with a river (probably following a fault) separating
the two hills. Mineralization, in the form of the tin oxide
cassiterite, is hosted by zones of sheeted quartz and rhyolite veining
and in their surrounding alteration (greisen) halos. Serra Irene also
has a wide area of sulphide mineralization comprising pyrite,
chalcopyrite, sphalerite and galena.
The Company plans a Phase-2 program of infill sampling, geophysics,
trenching and bulk sampling in the coming months, to define
near-surface resources and drill targets.
Miles Thompson, President and CEO of Lara says, "We are very excited
about these results as they indicate that we may be able to quickly
define a significant, near surface, tin resource at São Lourenço, at a
time of tight supply and record tin prices."
The São Lourenço mine operated in the 1970's and 1980's, producing
approximately 12,000 tonnes of tin from placer (alluvial) mining. In
January 2007, the Company signed an option agreement to purchase 100%
of the São Lourenço mining rights for approximately US$1.07 million
(~US$48,000 paid to date) payable over three years.
Quality Control
This Phase-1 program comprised chip, channel and grab samples,
depending on whether the exposure sampled comprised vein material,
weathered (saprolite) or fresh granite. Samples were prepared and
analyzed using X-Ray Fluorescence at the commercial SGS-Geosol
Laboratory in Belo Horizonte (Minas Gerais State), with blank, standard
and duplicate samples included for QAQC purposes. Semiquantitative
mineralogical analyses were also undertaken at the State University of
Rio de Janeiro.
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 natural resource prospect generator, with multi-commodity
exploration portfolio in Brazil 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 or Kim
Casswell, Corporate Secretary at (604) 669-8777.
- 30 -
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release
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Copyright (c) 2008 LARA EXPLORATION LTD. (LRA) All rights reserved.
For more information visit our website at
http://www.laraexploration.com/ or send mailto:info@laraexploration.com
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