Lara Exploration Ltd. (TSXV:LRA) announced results from drilling at the Liberdade Copper Project in Brazil.
As quoted in the press release:
Drill holes FTCD-01, LBCD-01 and LBCD-02 were drilled at approximately 200 metre intervals along on a north-south section on the Fortuna target; all intercepted mineralization from surface in both oxidized saprolite and in fresh rock associated with sulphides. Hole LBCD-06, a step-out hole drilled approximately 650 metres to the northeast of hole LBCD-02, on the same geophysical and geochemical anomaly, also intercepted wide zones of mineralization. Hole LBCD-06 was terminated at 200 metres for technical reasons, in mineralized material grading over 1% copper. LBCD-04 and -05 were scout holes, testing geophysical and geochemical targets to the southeast of Fortuna, both holes returned encouraging values. Mineralization at Liberdade is considered to be IOCG-type typical of the known copper deposits in region.
Lara’s Chairman and CEO, Miles Thompson, said:
The Company believes these drill results represent the possible discovery of a large IOCG mineralized system, consistent with the style and average grades of mineralization from known deposits in the Carajás District.