Lara Exploration Ltd.: Curionopolis Drilling Intersects High-Grade Iron Formations
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/10/10 -- Lara Exploration Ltd. ('Lara' or the 'Company') (TSX VENTURE: LRA) is pleased to report that it has completed 14 diamond drill holes on behalf of joint venture partner Vertical Mineracao Ltda., ('Vertical') at the Curionopolis Iron Project, Carajas District, Brazil.
The holes were located to test a section of the Serra Morena target, a ridge of folded iron formations. Results have been received for the first seven drill holes (see Table 1. below), all of which intercepted significant intervals and grades of iron mineralization.
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Table 1. - Drill Intercepts - Serra Morena
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Drillhole From (m) To (m) Interval (m) Grade Fe (%)
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FD-0001 0.00 10.00 10.00 58.95
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29.00 59.00 30.00 48.63
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FD-0002 0.00 39.00 39.00 62.16
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FD-0003 0.00 13.50 13.50 65.05
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51.00 86.10 35.10 54.95
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FD-0004 0.00 12.00 12.00 62.51
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32.00 48.00 16.00 41.90
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FD-0005 0.00 3.00 3.00 59.27
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13.00 16.50 3.50 54.27
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FD-0006 Hole abandoned due to drilling problems
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FD-0007 0.00 6.66 6.66 51.76
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FD-0008 0.00 2.50 2.50 63.94
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97.50 110.50 13.00 39.67
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Mapping and surface sampling on the property indicates that the iron formations extend for over 10 kilometres within the property. Vertical plans to purchase its own drilling equipment and resume drilling in the coming months in order to define resources at Serra Morena and to drill test the extensions of the iron formations.
Quality Control
All samples have been prepared and analyzed by independent and accredited analytical laboratories in Brazil and the Company has followed standard industry practices for QAQC procedures.
Michael Bennell, Lara's Vice President Exploration and a member 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.
About Lara
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 in Brazil, Peru, Colombia and China. Lara's common shares trade on the TSX Venture Exchange under the symbol 'LRA'.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Lara Exploration Ltd.
Miles Thompson
CEO
604-669-8777
Lara Exploration Ltd.
Andre Gauthier
President
604-669-8777
Lara Exploration Ltd.
Chris MacIntyre
Investor Relations
416-640-1932
Lara Exploration Ltd.
Julia Maxwell
Investor Relations
604-669-8777
604-688-1157 (FAX)info@laraexploration.comwww.laraexploration.com
