Lara Acquires Iron-Vanadium Properties

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.