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Lara Exploration Ltd. (TSXV:LRA) reported it has acquired 19,240 hectares of claims and exploration licenses covering intrusive areas of iron magnetite containing vanadium.
Lara Exploration Ltd. (TSXV:LRA) reported it has acquired 19,240 hectares of claims and exploration licenses covering intrusive areas of iron magnetite containing vanadium.
As quoted in the press release:
The properties are located close to paved roads, 55 kilometres from the Miritituba Port on the Tapajós River, from where the iron ore could be barged to a ship terminal on the Amazon River.
The target comprises multiple sub-vertical and sub-parallel bodies of magnetite up to 50 metres thick and up to 150 metres long. The Company has completed a geophysical survey (Magnetic) over part of the target and collected a number of surface grab samples. The high average grades of the surface samples analyzed: 48% metallic iron (69% magnetite Fe2O3), 22% titanium dioxide (TiO2) and 0.45% vanadium, indicate potential for the mining of a direct shipping ore product.
Click here to read the Lara Exploration Ltd. (TSXV:LRA) press release.
