Sep 1 2015
Lara Exploration Ltd., ("Lara" or the "Company") is pleased to report that joint venture partner, Kiwanda Group LLC ("Kiwanda"), is commencing a trenching and sampling program at the Ki Phosphate Rock Project ("Ki Project"). The Ki Project comprises 21,390 hectares of exploration licenses at Bahia Inglesa in Northern Chile, owned 100% by the Phosphate Alliance between Kiwanda and Lara. The Ki Project is adjacent to and covers extensions of the phosphate-bearing basins currently being mined by Bifox Ltda., where the Phosphate Alliance also has a purchase option.
The program at the Ki Project will be based on data from exploration work by the Chilean government in the 1980's, along with remote sensing and more recent fieldwork undertaken by the Phosphate Alliance. Exploration will target phosphate-bearing sediments in different parts of the Ki licenses, by excavating and systematically sampling pits and trenches. MEC Mining Pty Ltd ("MEC"), a global mining consultancy, has been retained to conduct an initial engineering survey of the completed pits.
A Preliminary Environmental Impact Assessment has been completed on 6,200 hectares of the Ki licenses and environmental permits secured from the local authority - SEA (Servicio de Evaluacion Ambiental) to execute up to 39 exploration drill holes.
Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and is responsible for the preparation and verification of the technical information in this release.
Lara is an exploration company following the Prospect Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects and deposits in Brazil, Peru, Colombia and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA."