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  • Lara Exploration (LRA) has completed a reappraisal of the diamond drilling and ground magnetometer survey results at its Itaituba project in Brazil
  • Additional work has demonstrated that the host gabbros also contains  disseminated vanadium-bearing magnetite 
  • This can be concentrated in order to enrich the vanadium grade
  • Half core samples from four of the scout holes were subjected to Davis Tube Recovery testing
  • The company anticipates completing further geophysical surveys and follow-up drilling later in 2021
  • Shares of Lara Exploration remained unchanged at C$0.73 as of 10:51 a.m. EDT

Lara Exploration (LRA) has finished a reappraisal of the diamond drilling and ground magnetometer survey results for its Itaítuba vanadium project in Brazil.

Although work on the project initially focused on vanadium-bearing magnetite bodies, the updated work has indicated host gabbros also contain disseminated vanadium-bearing magnetite. This means it can be concentrated to enrich toe vanadium grade. 

Moving forward, the company anticipates completing additional geophysical surveys and drilling later in 2021.

Half core samples from four of the scout holes were required for Davis Tube Recovery testing and resulting magnetic concentrates assayed for vanadium pentoxide.

Three of the holes located in the fresh rock sections identified significant intervals where magnetite concentrate recovery values are in the order of 10 per cent to 20 per cent of the original core sample mass.

Additional work is planned, including extensions to the existing ground magnetic survey, geological mapping aiming to identify more magnetite-rich ferro-gabbro phases within the complex, and drill testing of the priority target.

Lara Exploration is a company focused on building its portfolio through the growth and acquisition of new projects. The company is primarily focused on South America with projects in Chile, Peru and Brazil.

Shares of Lara Exploration remained unchanged at C$0.73 as of 10:51 a.m. EDT.

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