The Maravaia Copper Mine is being developed within the Company’s Curionópolis Copper-Gold Project, located within the Carajás Mining District of northern Brazil. The Company’s joint venture partner, Tessarema Resources Inc. (“Tessarema”), can earn a 100% interest in the Curionópolis Project, by putting the project into commercial production, making a final cash payment of US$750,000 and paying a 2% NSR royalty on any production to Lara.
Recent Project Milestones:
September 2015 - Final exploration report with resource statement submitted to the Brazilian Department of Mines
January, 2016 - National Instrument 43-101 Technical Report entitled “Maravaia Copper-Gold Deposit, Carajás Mining District, Pará, Brazil”, prepared for Tessarema and Lara by João Batista G. Teixeira, Geologist, PhD, P.Geo. (see link below).
August 2016 - Installation License issued for the Processing Plant.
October 2016 – Pilot Mining License renewed.
October 2016 - Final Exploration Report approved.
November 2016 – Installation License issued for the Tailings Dam.
December 2016 – PAE Feasibility Study filed with the Brazilian Department of Mines.
NI 43-101 Technical Report