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Lara Exploration receives new drill permits for its Homestead copper-gold discovery in Brazil

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Lara Exploration, which follows the Prospect and Royalty Generator business model, holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile, containing gold, copper, iron, manganese, phosphorus, vanadium and zinc.

Additional Information:

Company: Lara Exploration Ltd.
Website: http://www.LaraExploration.com
Stock Symbol: TSXV: LRA
Date Published: Oct 27, 2021
Transcript: Available

Video Transcript:

I’m Katriina Cotten for Investmentpitch Media
Lara Exploration Ltd. has received new drill permits for its Homestead copper-gold discovery in Brazil.
The company, which follows the Prospect and Royalty Generator business model, holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile, containing gold, copper, iron, manganese, phosphorus, vanadium and zinc.
The new drill permits allow for drilling to test potential extensions to the Homestead deposit that were identified from the Induced Potential geophysical surveys carried out earlier in the year at its Planalto copper property in the Carajás region of northern Brazil.
The survey, together with additional field mapping and surface sampling, indicates potential extensions to the Homestead mineralization within Lara’s existing property and to the north into the newly optioned Zaspir and Tariana properties.
The Planalto Copper Project covers meta-volcano-sedimentary sequences and intrusives of early Proterozoic-age with IOCG-type mineralization, located near Vale's Sossego copper mine and Oz Minerals Antas and Pedra Branca copper mines, in the Carajás Mineral Province of northern Brazil.
Based on drilling to date, copper-gold mineralization is recognized to underlie an area with dimensions of more than 350 metres north-south and 350 metres east-west and is open to the north, to the east and southeast.
Lara owns 100% of the main Planalto Project and the Homestead discovery, subject to a 2% NSR royalty payable on any production, with Lara retaining the right to purchase 50% of this royalty for a cash payment of US$2 million.
The company has a staged earn-in agreement with Capstone Mining Corp., whereby Capstone can earn up to a 70% in the Project by funding exploration, feasibility studies and electing to finance, build and manage a commercial mining operation, with Lara repaying its pro-rata share of the production financing out of cash flow.
Lara has an approved budget from partner Capstone Mining, for 4,350 metres of step-out diamond drilling at Planalto and plans to mobilise drill rigs in the coming weeks.
The shares are trading at $0.55.

For more information, please visit the company’s website, www.LaraExploration.com, contact Chris MacIntyre, VP Corporate Development, at 416-703-0010.

I’m Katriina Cotten for Investmentpitch Media