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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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More Nickel Intercepts from the Araguaia Nickel Project in Brazil
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June 17, 2008
Lara Exploration ("Lara" or the "Company") (LRA-TSX.V) is pleased to
report that Teck Cominco Brasil S.A. ("Teck Cominco"), a wholly-owned
subsidiary of Teck Cominco Limited, has delivered the remaining
analytical results from their diamond drilling program on the Vila Oito
target on Lara's Araguaia ("Araguaia") nickel project in Pará State,
northern Brazil. The program comprised 42 vertical holes drilled on a
200 meter spaced grid testing a lateritic nickel target area of
approximately 1.4 by 1.0 kilometers.
Vila Oito Drill Program
Analytical results have now been received for all 42 holes drilled at
Vila Oito. The Company reported results for 33 of the holes earlier in
the year (see Lara press release dated January 28, 2008), the new
results from the remaining holes 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 Infill Diamond Drilling Program (Partial)
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Drill Hole Target From (m) To (m) Interval (m) Nickel %
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PCA-DD-0446 Vila Oito 0 8.80 8.8 1.25
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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
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PCA-DD-0451 Vila Oito 14.20 18.40 4.2 0.958
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PCA-DD-0453 Vila Oito 10.0 17.0 7.0 0.944
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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
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PCA-DD-0466 Vila Oito 4.1 16.1 12.0 1.25
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PCA-DD-0473 Vila Oito 1.7 5.2 3.5 1.192
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7.7 11.0 3.3 1.01
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The Vila Oito mineralization is adjacent to, and contiguous with,
mineralization already being explored by Teck Cominco.
Regional Exploration
Lara's Araguaia project comprises a total of 310,000 hectares of
mineral rights, with Vila Oito one of several targets selected from
airborne geophysical surveys and regional prospecting. In addition to
the drilling at Vila Oito, Teck Cominco has field checked 17 other
targets, conducting follow-up soil sampling and mapping on 7 of them.
The best of these targets,"Floresta", comprises a 1200 by 500 metre
soil anomaly with a maximum value of 3850 parts per million ("ppm")
nickel. Auger drilling is being employed to better understand the soil
anomalies and has been completed on two targets and is on-going on a
third.
Quality Control
Michael Bennell, Lara's Vice President Exploration and a member of the
Australasian Institute of Mining and Metallurgy, 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.
Teck Cominco, who holds the project under option from Lara, is the
operator of the Project and employs a rigorous QA/QC protocol including
the use of standards and blanks and insertion of duplicate samples at
regular intervals. Samples are taken at nominal one meter intervals
with breaks occurring at geological contacts. Sample preparation is
made locally in a dedicated sample preparation facility operated by
Teck Cominco near Conceição de Araguaia and samples are assayed using
X-Ray Fluorescence methods at the commercial SGS-Geosol Laboratory in
Belo Horizonte, Minas Gerais State.
About Lara
Lara is a well-funded junior exploration company with projects 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.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this 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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