Avanco Mobilizes Drilling On The Conceição Nickel Sulphide Project
September 10, 2012 (TSX Venture: LRA) - Lara Exploration Ltd., (“Lara” or the “Company”) is pleased to report that Avanco Resources Ltd. (“Avanco”) has mobilized a drill rig to the Company’s Conceição Nickel Sulphide Project, in northern Brazil and plans to begin a 1,500 metre program in the coming weeks.
Drilling will test four priority targets outlined by geophysical surveys, auger drilling and surface sampling with anomalous nickel, copper and platinum group metal values (see Company news releases of February 14 and December 7, 2011 for details), associated with weathered and fresh mafic intrusive rocks.
Avanco can earn a 75% interest in the project by completing 1,500 metres of drilling by November 2012 and then sufficient exploration work by January 10, 2014 to generate a JORC (Australasian Joint Ore Reserves Committee) compliant resource with sufficient drill data and metallurgical test work for the Brazilian Department of Mines to approve the Final Exploration Report.
Michael Bennell, Lara’s Vice President Exploration and a Fellow 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.
Lara is an exploration company following the Prospect Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects and deposits primarily in Brazil and Peru, where it has signed agreements for fifteen Joint Ventures and two Strategic Alliances. 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 Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.