The Conversation (0)
Lara Exploration Ltd. (CVE:LRA) announces that the company has signed an Agreement whereby Codelco do Brasil Mineração Ltd.
Lara Exploration Ltd. (TSXV:LRA) announces that the company has signed an Agreement whereby Codelco do Brasil Mineração Ltd.
The press release is quoted as saying:
Under the terms of the Agreement, Codelco may earn an initial 51% interest in the Liberdade property by investing US$3 million in exploration over a four-year period, with a minimum expenditure of US$400,000 in year one, of which US$300,000 is a work commitment. Codelco may then elect to earn a further 24% interest in the property by sole-funding such additional exploration works as are necessary to define a minimum resource of at least 500,000 tons of copper equivalent, independently reported under National Instrument 43-101 guidelines.
Click here to access the entire press release