Lara Exploration (CVE:LRA) reported Tuesday encouraging drill results from its Lara project in southern Peru.
The company drilled 11 diamond holes for a total of approximately 2,000 metres, including both infill and step-out holes to expand the existing resource.
Highlights of the results include 108 metres grading 0.9% copper equivalent in hole LA-10-32, including 40 metres with an average grade of 1.46% copper equivalent, establishing a higher grade, east-west corridor, the company said.
Hole LA-10-34 also expanded copper mineralization 225 metres to the east by intersecting 30 metres of 0.71% copper, while hole LA-10-36 extended mineralization to the south, returning 6 metres of 2.14% copper and 94 metres of 0.48% copper equivalent.
"These drill results have demonstrated the potential for not only supergene enriched secondary mineralization, but also for hypogene (sulphide) mineralization and show the Lara copper-molybdenum porphyry system to still be open in all directions," said president Andre Gauthier.
Lara is the operator of the project on behalf of Redzone Resources, which has the right to earn up to a 75% stake in the Peruvian property.
Lara currently holds a portfolio of prospects in Brazil, Peru, Colombia and China, with eight actively funded joint ventures.