20265 releases
Lara Exploration Announces 14,000 Metre Validation Drilling Program Underway at the Planalto Project
Seven diamond drill rigs are operating at the 100%-owned Planalto copper-gold project in the Carajás district of northern Brazil on a 14,000 metre program to validate the geological-mineralization model used in the 2024 MRE and 2025 PEA. Twenty-nine holes totalling 10,186 metres are complete on the Homestead-Cupuzeiro trend and four holes totalling 761 metres on the Silica Cap trend. Infill drilling to at least 100 by 100 metre spacing will follow validation, with assays beginning to arrive.
Drill resultsLara Exploration Completes Brokered Offering and Non-Brokered Offering for Aggregate Proceeds of C$33,750,000
A brokered and concurrent non-brokered private placement closed for aggregate proceeds of C$33,750,000 through the issuance of 11,250,000 common shares at C$3.00 per share. Atalaya Mining Copper S.A. subscribed for 4,500,000 shares for C$13,500,000, representing about 7.3% of Lara's outstanding shares after closing, and insiders took 515,000 shares. Net proceeds will advance the 100%-owned Planalto Copper-Gold Project in Brazil's Carajás province and fund general corporate and working capital. Shares are subject to a hold period to August 2, 2026.
FinancingLara Exploration to Raise up to an Aggregate of C$33,750,000 pursuant to a C$20,250,000 Brokered Private Placement and a Concurrent C$13,500,000 Non-Brokered Private Placement
Up to C$33,750,000 will be raised through two concurrent placements: a best-efforts brokered private placement of up to 6,750,000 common shares at C$3.00 per share for up to C$20,250,000, led by SCP Resource Finance LP, and a non-brokered placement of up to 4,500,000 shares at the same price for up to C$13,500,000. Agents receive a 6% cash fee, reduced to 0% for insider purchasers. Closing is expected on or about March 31, 2026, with proceeds to advance the Planalto Copper-Gold Project in Brazil and for general corporate and working capital purposes.
FinancingDrilling Resumes to Test Potential 3km Extension of the Planalto Deposits
Drilling has resumed on the Silica Cap copper trend at the 100%-owned Planalto Project in the Carajás district of northern Brazil, after new drill permits were received from the Canaã dos Carajás municipal environmental agency. Initial holes will test the strike extension south of the proposed Silica Cap open pit from the 2025 PEA, then the 3km trend into the adjacent Atlantica license once permitted. One rig is operating, with a 3,000m program planned for completion by the end of April 2026.
Drill resultsAtlantica Results Confirm Potential 3km Strike Extension to Planalto Mineralization
Surface work, core relogging and resampling at the Atlantica exploration license, contiguous to the southeast of the Planalto Project in Brazil's Carajás Mineral Province, indicate potential to extend the Planalto resource along strike from the Silica Cap deposit for approximately 3km. Resampling of five historical holes (1,754.20m drilled in 2020–2021) returned oxide intersections of 35.80m at 0.35% Cu from 3.2m in DDATL21-002 and 17.00m at 0.25% Cu from surface in DDATL21-004. A soil survey outlined three copper anomaly zones; Lara plans drilling in late Q1-26.
Drill results
20255 releases
Lara Exploration Announces Filing of the Preliminary Economic Assessment for its Planalto Copper-Gold Project in Brazil
An NI 43-101 technical report supporting the Preliminary Economic Assessment for the 100%-owned Planalto Copper-Gold Project in the Carajás district, Pará State, Brazil, has been filed, dated November 14, 2025 with an effective date of October 15, 2025 and authored by SRK. The PEA outlines an after-tax NPV of US$378 million at an 8% discount rate, a 21% IRR, 3.5-year payback, initial capex of US$546 million and sustaining capital of US$170 million. It envisages 8 Mt annual throughput producing 560 kt copper and 111 koz gold over 18 years, using US$9,500/t copper and US$2,500/oz gold.
Study resultsMinsur Terminates its Option to Acquire the Lara Copper Project in Peru
Minsur S.A. has notified Lara Exploration that it intends to relinquish its option to acquire Lara's 45%-owned Lara Copper Project in the Laramate Province of Peru's Ayacucho Department. The copper-molybdenum porphyry project has seen 9,850 metres of diamond and reverse circulation drilling, outlining a mineralized footprint 2,000 metres east to west and 500 to 800 metres north to south. Past highlights include 108 metres at 0.81% Cu and 0.015% Mo, and 218 metres at 0.57% Cu and 0.042% Mo.
AcquisitionLara Reports Results of Preliminary Economic Assessment for its Planalto Copper-Gold Project
A preliminary economic assessment on the 100%-owned Planalto copper-gold project in the Carajás district, Pará State, Brazil, returned an after-tax NPV of US$378 million at an 8% discount rate, a 21% IRR and a 3.5-year post-tax payback, using US$9,500/t copper and US$2,500/oz gold. Initial capital is US$546 million with US$170 million sustaining, and LoM AISC of US$5,920/t Cu payable. Open-pit mining and an 8 Mt/year flotation plant would produce 560 kt copper and 111 koz gold over 18 years.
Study resultsLara Signs Agreement to Acquire License Adjacent to its Planalto Project
A purchase and sale agreement has been signed with Atlantica do Brasil Mineração to acquire a 345-hectare exploration license adjacent to and along strike from Lara's Planalto Copper-Gold Project in Brazil's Carajás Mineral Province. Lara will pay CAD$375,000 in shares on TSX Venture acceptance, plus success fees of US$0.06/lb of copper in Measured and Indicated Resources by December 2027 and 2028, and US$0.08/lb thereafter, capped at US$1.25 million annually with a US$500,000 minimum due end-2027. Lara must drill at least 2,000 metres and file an NI 43-101 Technical Report by end-2027; Atlantica and an underlying vendor each retain a 1% NSR.
AcquisitionLara Signs Binding Letter of Intent for Its Itaituba Vanadium Project
A binding letter of intent has been signed with a non-reporting Ontario company to fund exploration and development of the Itaituba Vanadium Project in the Tapajos Mineral Province, northern Brazil, with staged payments or minimum expenditures of US$500,000 in 2025 (US$150,000 received to date), US$600,000 in 2026 and US$900,000 in 2027. Lara will receive equity in a listing vehicle valued at not less than CAD$1,000,000 and 9.9% fully diluted ownership for 90% of the project, plus US$1,000,000 within 90 days of a first Feasibility Study and a 2% NSR royalty. Lara remains operator and has mobilized for about 1,200 metres of diamond and reverse circulation drilling.
Acquisition
202414 releases
Lara Raises $3.085 Million From Accelerated Exercise of 2022 Warrants
A total of 3,085,943 warrants, including 9,000 broker warrants, were exercised for gross proceeds of C$3,085,943, with the remaining 760 broker warrants expiring at 3:00 p.m. Vancouver time on November 26, 2024. Proceeds will primarily fund development of the Planalto Copper-Gold Project in Brazil, plus general corporate and working capital purposes. Lara Exploration now has 49,434,772 shares outstanding, 53,494,772 fully diluted, and approximately C$5.6 million in treasury.
FinancingOperational Restart at the Celesta Copper Project in Brazil
Mining and processing has resumed at the Celesta Copper Project in the Carajás, Brazil, with operator Tessarema Resources restarting ore processing from stockpiles and the Osmar pit in October and a gradual ramp-up expected in coming months. Tessarema completed an additional 3,545m of resource definition drilling on the Osmar and Galpão targets while permits were reinstated and the plant was brought out of care and maintenance. Lara holds a 5% net profits interest via preferred shares of Celesta, with no obligation to fund restart costs, plus a 2% NSR royalty.
CorporateLara Exploration Announces Warrant Expiry Acceleration
The expiry of outstanding common share purchase warrants and broker warrants exercisable at C$1.00 per common share, issued under a non-brokered private placement that closed on June 17, 2022, has been accelerated to 3:00 p.m. PST on November 26, 2024, following a 10-trading-day acceleration period ended October 25, 2024. As of October 24, 2024, 2,650,933 warrants (including 9,760 broker warrants) remained unexercised, representing gross proceeds of approximately C$2,650,933, to be used mainly for the Planalto Copper-Gold Project in Brazil.
CorporateLara Exploration Announces Filing of Technical Report for Previously Announced Maiden Copper-Gold Resource for the Planalto Project, Brazil
An NI 43-101 technical report supporting the maiden mineral resource at the 100%-owned Planalto copper-gold project in the Carajás Mineral Province, Pará, Brazil has been filed on SEDAR+, dated September 5, 2024 with an effective date of July 3, 2024. Indicated Resources total 47.7 Mt at 0.53% Cu and 0.06 g/t Au (0.56% CuEq), with Inferred Resources of 154 Mt at 0.36% Cu and 0.04 g/t Au (0.38% CuEq). No material differences from the October 9, 2024 release.
NewsExercise of Warrants and Acquisition of Further Shares of Lara Exploration Ltd.
Miles Thompson acquired 230,770 common shares of Lara Exploration Ltd. (TSX-V: LRA), representing 0.5% of outstanding shares, through the exercise of share purchase warrants at $1.00 each. His holdings increase from 4,544,373 shares (9.84%) to 4,775,143 shares (10.14%), plus stock options for a further 700,000 shares, equal to 5,475,143 shares or 11.63% on a partially diluted basis. An Early Warning Report will be filed in British Columbia, Alberta and Ontario.
FinancingLara Reports Maiden Copper-Gold Resource for the Planalto Project, Brazil
An initial mineral resource estimate for the 100%-owned Planalto copper-gold project in the Carajás Mineral Province, northern Brazil, prepared by GE21, reports Indicated Resources of 47.7 Mt at 0.53% Cu and 0.06 g/t Au (0.56% CuEq), containing 253 thousand tonnes Cu, and Inferred Resources of 154 Mt at 0.36% Cu and 0.04 g/t Au (0.38% CuEq), containing 549 thousand tonnes Cu. Resources are reported above a 0.16% CuEq cut-off within a pit shell, with an effective date of July 3, 2024. GE21 recommends infill drilling and a Preliminary Economic Assessment.
Resource updateLara Completes Sale of the Curionópolis Iron Project
The sale of the Curionópolis Iron Project to Ferrous Technology Mineração Limitada has closed for approximately US$2m, with Lara retaining a 3% gross sales royalty and minimum advance royalties of US$150,000 per year if production has not started within three years. The 1,226-hectare license area covers iron formations in the Carajás Mining Province of northern Brazil, where 8,727 meters of diamond drilling in 96 holes, resource estimates and a preliminary economic assessment to Brazilian standards have been completed.
AcquisitionLara Completes Earn-in to 70% of the Mantaro Phosphate Project in Peru
Lara Exploration has completed the expenditures required to increase its interest in the Mantaro Phosphate Project, in Peru's Junín Region, from 33% to 70%. A new subsidiary, Fosfatos Alli Allpa, has been established to advance exploration, technical studies and eventual development, aiming to produce and concentrate phosphate rock for the Junín Region, the Peruvian market and eventually export. Lara is also working under a Research Collaboration Agreement with Peru's National Institute of Agrarian Innovation on soil test plots.
AcquisitionLara Agrees Sale of the Curionopolis Iron Project
The Curionopolis Iron Project in the Carajás District of northern Brazil has been agreed for sale to Ferrous Technology Mineração Limitada for staged payments totaling approximately US$2m. Lara received R$6.85 million at closing, including R$1.5 million in advanced royalties, with R$3 million due on publication of the license transfer, plus a 3% gross sales royalty and minimum advance royalties of US$150,000 from year three. The 1,226.53-hectare license has 8,727 meters of diamond drilling in 96 holes.
AcquisitionLara Agrees to Settle Lawsuit and Recover the Curionopolis Iron Project
A settlement with Vertical Mineração Limitada returns the Curionópolis Iron Project to Lara's Brazilian subsidiary, ending the lawsuit. The project covers a 1,348-hectare license area over iron formations in the Carajás District of northern Brazil, optioned to Vertical in 2009 for staged cash payments and production royalties. Vertical completed exploration drilling, resource estimates, economic and environmental studies but defaulted on payments; Lara filed for arbitration in 2016 and legal action in 2022.
CorporateLara Provides a Project Portfolio Update
At the Planalto Copper Project in Brazil, the final purchase option payment to Anglo American Niquel Ltda. for the Tariana license was made, giving Lara 100% of the project's mineral rights, and GE-21 Consultoria Mineral has been engaged to prepare a mineral resource estimate and PEA, with the NI 43-101 resource report expected in Q2 and PEA studies in Q3. Celesta Mineração S.A. was restructured, with Tessarema holding an option to buy out North's 55% interest and having lent Celesta US$5m toward a downpayment and a minimum 5,000-metre drill program; Lara retains a 5% net profits interest and a 2% NSR.
CorporateLara Appoints Anthony Polglase as a Technical Advisor
Anthony (Tony) Polglase has been appointed Technical Advisor to Lara Exploration, supporting management on development of the Planalto Copper Project in the Carajás Mineral Province of northern Brazil. Polglase founded and led Avanco Resources Ltd into production at the Antas Copper Mine, about 12km from Planalto, and is a founder and lead director of Bravo Mining. He was granted 100,000 incentive stock options exercisable at $0.64 per share for five years. Planalto has seen 26,016m of diamond drilling to date.
ManagementLara Provides an Update on its Planalto Copper Project in Brazil
The 2023 drill program of 9,100m at the Planalto Copper Project in Brazil's Carajás Mineral Province has been completed, linking the Homestead and Cupuzeiro discoveries into a single body of mineralization, with Final Exploration Reports filed with the National Mining Agency on the two northern licenses. Preliminary metallurgical testwork on Cupuzeiro composites grading 0.34% to 0.85% Cu returned copper recoveries of 88-92% depending on grind size. Acquisition of the Zaspir license is complete, subject to a 2% NSR royalty.
CorporateLara Announces Board and Management Changes
Simon Ingram has been appointed President, CEO and a Director of Lara Exploration, with Miles Thompson remaining as Chairman. Ingram was a co-founder of Reservoir Capital and Reservoir Minerals and holds a B.Sc. and Ph.D. from Cardiff University. He was granted 400,000 incentive stock options exercisable at $0.54 per share for five years. Lara stated the Planalto Copper-Gold discovery in the Carajás of Brazil is now back 100%-owned.
Management