Lara Exploration Ltd.: Independent Review and Technical Report Completed on the Sao Lourenco Tin Projectadmin
Lara Exploration Ltd. to report that Anglo Latina Consultores S.A.C., of Lima, Peru (“Anglo Latina”) has completed a positive and independent review of the Company’s Sao Lourenco tin project in Rondonia State, northwest Brazil. Anglo Latina has also prepared a Technical Report on the project to NI 43-101 standards, entitled “THE SAO LOURENCO TIN PROJECT, RONDONIA STATE, BRAZIL”, in which it concluded that the Project definitely merits further exploration and recommended diamond-drilling to assess both low-grade, high tonnage open pit potential and low tonnage, high-grade underground potential at Sao Lourenco.
“Tin mining in Brazil has declined in recent years as placer resources become exhausted or unviable due to environmental constraints. We see hardrock projects as the future and believe we have a potentially significant deposit at Sao Lourenco” commented Miles Thompson, President and CEO.
Sao Lourenco was established as a tin mining operation in the 1970-80′s, with modular dredging operations working most of the larger river courses for alluvial or placer tin. The operations closed in the late 1980′s after the tin price collapsed in 1985 making most of the operations of this type uneconomic. Since then, mining has continued sporadically on a small-scale by artisanal miners, known locally as garimpeiros. Today, there are various small garimpeiro operations around the project, legally organized as a miner’s cooperative, and working the alluvial, colluvial and eluvial deposits in the area.
Lara signed an option to acquire all the Sao Lourenco rights in January 2007 to explore for the primary source tin mineralization of the superficial deposits currently being exploited. Lara has focused its exploration on two hills, Serra Irene and Serra Isaac, which comprise two partly exposed cupolas of medium-grained, equigranular granite representing the SW limits of the Sao Lourenco-Caripuna intrusive complex. Tin mineralization sampled on the top and flanks of both hills comprises sheeted veins, parallel stringers and alteration associated with a late differentiate or fine-grained dyke activity and greisen bordered veins within the granites. These veins also cross the contact and pass out into the metamorphic aureole. It is likely that the mineralization is wider spread than currently delineated, because there is vegetation and deep colluvial cover over more than 50% of these occurrences.
A total of 2,241 channel samples have been taken to date, from hand-dug surface trenching over three separate exploration phases carried out between March 2007 and December 2008. Of these 1,257 samples reported values greater than 0.05%Sn and 146 reported values greater than 0.5%Sn. High grade values range between 0.73% Sn and 7.88% Sn, which are derived from the main vein structures cutting through the exposed granites. Details of the project and the work completed to date are outlined in the Technical Report prepared by Anglo Latina, which is available on the Lara website: www.laraexploration.com.