Araguaia Nickel Project
The Araguaia Nickel Project comprises 45,000 hectares of 100%-owned exploration licenses near the important emerging nickel Carajás District, in Pará State, Northern Brazil. Lara holds a significant property position in the Araguaia belt, which has already generated two significant discoveries at Serra da Tapa and Vale dos Sonhos owned by Xstrata.
The regional geology comprises north-south to northwest-southeast oriented Proterozoic mobile belts with metasediments, mafic-ultramafic volcanics and intrusive lithologies. The exploration claims cover a range of targets defined from remote sensing using satellite imagery, airborne geophysics and fieldwork. Nickel mineralization associated with the mafic-ultramafic lithologies of the Quatipuru and Serra da Tapa ophiolites that comprise a package of basalts, talc-schists and serpentinites. The country rocks are predominantly metasedimentary phyllites and slates of the Couto Magalhães Formation, also of Proterozoic age. Both these units are part covered by Cenozoic detritic-lateritic cover.
The target geology is mafic and ultramafic intrusions that are part of the Araguaía Ophiolite Sequence, host to several large nickel deposits in this region. To date 66 diamond drill holes (47 in 2008) and 96 auger drill holes (mostly in 2008) have been completed on the project, defining significant nickel mineralization on two targets, Vila Oito and Floresta. The Vila Oita deposit is 1km by 1.14Km in size and has been diamond drilled on a minimum 200x200m grid spacing (54 holes). The Floresta deposit is 1.2x0.5km in size defined by soil geochem and auger drilling.
Results of the Vila Oito drilling are summarized in Table 1. Nickel intersections are reported with a minimum of 2 meters width and with a lower cut-off grade of 0.9% nickel.
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Table 1 – Vila Oito Diamond Drilling Results |
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|
Drill Hole |
Target |
From (m) |
To (m) |
Interval (m) |
Nickel % |
|
PCA-DD-0419 |
Vila Oito |
8.5 |
16.5 |
8.0 |
1.375 |
|
PCA-DD-0420 |
Vila Oito |
7.3 |
12.43 |
5.13 |
1.375 |
|
PCA-DD-0421 |
Vila Oito |
No significant results |
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|
PCA-DD-0422 |
Vila Oito |
10.50 |
17.0 |
6.5 |
1.894 |
|
PCA-DD-0423 |
Vila Oito |
16.00 |
27.9 |
11.9 |
1.069 |
|
PCA-DD-0424 |
Vila Oito |
1.00 |
8.4 |
7.4 |
1.378 |
|
|
|
13.4 |
19.0 |
5.6 |
1.176 |
|
PCA-DD-0425 |
Vila Oito |
No significant results |
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|
PCA-DD-0426 |
Vila Oito |
No significant results |
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|
PCA-DD-0427 |
Vila Oito |
No significant results |
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|
PCA-DD-0428 |
Vila Oito |
1.90 |
9.77 |
7.87 |
1.217 |
|
PCA-DD-0429 |
Vila Oito |
4.00 |
26.3 |
22.3 |
1.343 |
|
PCA-DD-0430 |
Vila Oito |
21.00 |
23.2 |
2.2 |
1.344 |
|
PCA-DD-0434 |
Vila Oito |
No significant results |
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|
PCA-DD-0436 |
Vila Oito |
No significant results |
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|
PCA-DD-0438 |
Vila Oito |
3.10 |
11.6 |
8.5 |
1.474 |
|
PCA-DD-0440 |
Vila Oito |
4.10 |
11.2 |
7.1 |
1.375 |
|
PCA-DD-0442 |
Vila Oito |
22.00 |
28.0 |
8.0 |
1.118 |
|
PCA-DD-0444 |
Vila Oito |
No significant results |
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|
PCA-DD-0446 |
Vila Oito |
0 |
8.80 |
8.8 |
1.25 |
|
PCA-DD-0448 |
Vila Oito |
No significant results |
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|
PCA-DD-0449 |
Vila Oito |
3.20 |
6.20 |
3.0 |
1.27 |
|
PCA-DD-0450 |
Vila Oito |
No significant results |
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|
PCA-DD-0451 |
Vila Oito |
14.20 |
18.40 |
4.2 |
0.958 |
|
PCA-DD-0452 |
Vila Oito |
No significant results |
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|
PCA-DD-0453 |
Vila Oito |
10.0 |
17.0 |
7.0 |
0.944 |
|
PCA-DD-0460 |
Vila Oito |
12.05 |
15.0 |
2.95 |
1.281 |
|
PCA-DD-0461 |
Vila Oito |
1.11 |
4.41 |
3.3 |
0.948 |
|
PCA-DD-0462 |
Vila Oito |
No significant results |
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|
PCA-DD-0463 |
Vila Oito |
No significant results |
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|
PCA-DD-0464 |
Vila Oito |
No significant results |
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|
PCA-DD-0465 |
Vila Oito |
1.6 |
5.2 |
3.6 |
1.07 |
|
PCA-DD-0466 |
Vila Oito |
4.1 |
16.1 |
12.0 |
1.25 |
|
PCA-DD-0467 |
Vila Oito |
No significant results |
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|
PCA-DD-0468 |
Vila Oito |
No significant results |
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|
PCA-DD-0469 |
Vila Oito |
No significant results |
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|
PCA-DD-0471 |
Vila Oito |
No significant results |
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|
PCA-DD-0472 |
Vila Oito |
Hole abandoned and re-drilled |
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|
PCA-DD-0472A |
Vila Oito |
0.00 |
24.3 |
24.3 |
1.241 |
|
PCA-DD-0473 |
Vila Oito |
1.00 |
4.5 |
3.5 |
1.192 |
|
PCA-DD-0474 |
Vila Oito |
4.10 |
13.79 |
9.59 |
1.227 |
|
PCA-DD-0475 |
Vila Oito |
0.00 |
2.17 |
2.17 |
1.006 |
|
PCA-DD-0477 |
Vila Oito |
1.7 |
5.2 |
3.5 |
1.192 |
|
|
|
7.7 |
11.0 |
3.3 |
1.01 |
|
PCA-DD-0445 |
N. Vila Oito |
No significant results |
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|
PCA-DD-0447 |
N. Vila Oito |
No significant results |
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|
PCA-DD-0485 |
N. Vila Oito |
No significant results |
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|
PCA-DD-0486 |
N. Vila Oito |
No significant results |
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