Lara Completes Sale of the Curionópolis Iron Project
Lara Exploration (TSXV: LRA) has completed the sale of its Curionópolis Iron Project to Ferrous Technology Mineração Limitada (Fertec) for approximately US$2 million. Lara retains a 3% gross sales royalty on any production, with minimum advance royalties of US$150,000 per year if production hasn't started within three years.
The Curionópolis Iron Project covers 1,226 hectares in the Carajás Mining Province of northern Brazil. It has undergone 8,727 meters of diamond drilling across 96 holes, with resource estimates and a preliminary economic assessment completed to Brazilian standards. Fertec is currently advancing environmental studies and has applied for a pilot mining license.
Lara Exploration (TSXV: LRA) ha completato la vendita del suo Progetto Ferro Curionópolis a Ferrous Technology Mineração Limitada (Fertec) per circa 2 milioni di dollari USA. Lara mantiene un royalty sulle vendite lorde del 3% su qualsiasi produzione, con royalty minime anticipate di 150.000 dollari USA all'anno se la produzione non è iniziata entro tre anni.
Il Progetto Ferro Curionópolis si estende su 1.226 ettari nella Provincia Mineraria di Carajás, nel nord del Brasile. Ha subito 8.727 metri di perforazione a diamante su 96 fori, con stime delle risorse e una valutazione economica preliminare completata secondo gli standard brasiliani. Fertec sta attualmente portando avanti studi ambientali e ha richiesto una licenza mineraria per un progetto pilota.
Lara Exploration (TSXV: LRA) ha completado la venta de su Proyecto de Hierro Curionópolis a Ferrous Technology Mineração Limitada (Fertec) por aproximadamente 2 millones de dólares estadounidenses. Lara retiene un royalty del 3% sobre las ventas brutas de cualquier producción, con royalties mínimos anticipados de 150.000 dólares estadounidenses al año si la producción no ha comenzado dentro de tres años.
El Proyecto de Hierro Curionópolis abarca 1.226 hectáreas en la Provincia Minera de Carajás, en el norte de Brasil. Se han realizado 8.727 metros de perforación con diamante en 96 pozos, con estimaciones de recursos y una evaluación económica preliminar completada según los estándares brasileños. Fertec está avanzando con estudios ambientales y ha solicitado una licencia de minería piloto.
Lara Exploration (TSXV: LRA)은 Curionópolis 철광산의 매각을 완료했습니다, Ferrous Technology Mineração Limitada (Fertec)에 약 200만 달러에 판매되었습니다. Lara는 생산 시 발생하는 총 매출의 3% 로열티를 보유하며, 생산이 시작되지 않을 경우 매년 15만 달러의 최소 사전 로열티를 제공합니다.
Curionópolis 철광산 프로젝트는 북부 브라질의 카라자스 광산 지역에서 1,226 헥타르에 이릅니다. 96개의 구멍에서 8,727미터의 다이아몬드 드릴링이 완료되었으며, 자원 추정 및 브라질 기준으로 완료된 초기 경제 평가가 진행되었습니다. 현재 Fertec은 환경 연구를 진행 중이며, 파일럿 채굴 라이선스를 신청했습니다.
Lara Exploration (TSXV: LRA) a achevé la vente de son projet de fer Curionópolis à Ferrous Technology Mineração Limitada (Fertec) pour environ 2 millions de dollars américains. Lara conserve une redevance de 3% sur les ventes brutes sur toute production, avec des redevances minimales anticipées de 150 000 dollars américains par an si la production n'a pas commencé dans les trois ans.
Le projet de fer Curionópolis couvre 1 226 hectares dans la province minière de Carajás, dans le nord du Brésil. Il a subi 8 727 mètres de forage diamant à travers 96 trous, avec des estimations de ressources et une évaluation économique préliminaire réalisées selon les normes brésiliennes. Fertec avance actuellement dans des études environnementales et a demandé une licence de minage pilote.
Lara Exploration (TSXV: LRA) hat den Verkauf seines Eisenprojekts Curionópolis an Ferrous Technology Mineração Limitada (Fertec) für ungefähr 2 Millionen US-Dollar abgeschlossen. Lara behält eine 3%ige Bruttoumsatzbeteiligung an jeder Produktion, mit mindestens 150.000 US-Dollar an Vorauszahlungen pro Jahr, falls die Produktion in drei Jahren nicht begonnen hat.
Das Eisenprojekt Curionópolis umfasst 1.226 Hektar in der Bergbauprovinz Carajás im Norden Brasiliens. Es wurden 8.727 Meter Diamantbohrungen in 96 Löchern durchgeführt, mit Ressourcenabschätzungen und einer vorläufigen wirtschaftlichen Bewertung, die nach brasilianischen Standards abgeschlossen wurde. Fertec führt derzeit Umweltstudien durch und hat einen Antrag auf eine Pilot-Bergbaulizenz gestellt.
- Sale of Curionópolis Iron Project for approximately US$2 million
- Retention of 3% gross sales royalty on future production
- Minimum advance royalties of US$150,000 per year if production doesn't start within three years
- Extensive exploration work already completed on the project
- Potential for future revenue through royalties
- Divestment of a potentially valuable asset
- Uncertainty of future production and royalty payments
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Lara Exploration Ltd. (TSXV: LRA) ("Lara") is pleased to announce that it has completed the sale of its Curionópolis Iron Project to Ferrous Technology Mineração Limitada ("Fertec"), for approximately US
The Curionópolis Iron Project comprises a 1,226-hectare license area, covering iron formations located in the Carajás Mining Province of northern Brazil. To date 8,727 meters of diamond drilling, in 96 holes, have been completed, along with resource estimates and a preliminary economic assessment to Brazilian standards. Fertec is advancing environmental studies and has filed an application for a pilot mining license.
About Lara Exploration
Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225247
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