Lara Exploration Ltd.: Hochschild Intercepts 31.55m averaging 4.9g/t Gold and 43g/t Silver at the Lara s Corina Gold Project in Peru
The reported intercepts are close to, but do not necessarily represent true widths.
Hochschild has the option to purchase the Corina Project from Lara by making staged cash payments totalling US$4,150,000 of which US$650,000 has been paid to date, with the next installment of US$1,000,000 due in July 2021. Hochschild also has the obligation to pay a 2% net smelter return royalty on any production (see Company news release of June 23, 2014 for details).
The Corina Gold Project covers part of a belt of Tertiary-age volcanic rocks in southern Peru that also host Hochschild s Pallancata and Immaculada mining operations and past producer Selene, with Lara s project located approximately 15km north (approximately 25km by road) of the mill at Selene, which currently processes ore from the Pallancata mine.
Lara Exploration Ltd.: Lara Exploration Ltd: Production Update for the Celesta Copper Mine in Brazil
Vancouver, British Columbia (Newsfile Corp. - January 26, 2021) - Lara Exploration Ltd. (TSXV: LRA) ( Lara or the Company ), is pleased to report that during the ramp-up phase between July and December 2020 the Celesta Copper Mine shipped 1,195 dry metric tonnes of concentrate, containing 457 tonnes of copper metal and 1,286 ounces of gold.
The plant has so far achieved a maximum processing rate of 350 tonnes per day, below the targeted 500 tonnes per day commercial production as defined in the contract with Lara. Concentrate production has also been impacted by lower than projected recoveries from the part-oxidised transition material from the Osmar deposit. These production issues are being addressed with the addition of a second and larger ball mill, ordered in late 2020, along with additional flotation cells, which are scheduled to be delivered and installed in Q2-2021. The p