Lara Exploration Continues Drilling at Iron Project

Lara Exploration Ltd. (TSXV:LRA) reported its partner, Vertical Mineração Ltda. has 4 diamond drill rigs conducting infill drilling on the Curionópolis iron project in Brazil.

As quoted in the press release:

Under the terms of the agreement with Vertical, an area of 1,348 hectares of the Curionópolis Property was ceded in exchange for cash payments to Lara of US$868,256 (US$589,816 paid to date and the remainder due by August 2012) and royalties of US$1.50/ton on sales of granular iron ore and US$0.75/ton on sales of fine-grained iron ore produced from the Project.

Click here to read the Lara Exploration Ltd. (TSXV:LRA) press release.