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Vancouver, British Columbia–(Newsfile Corp. – January 30, 2024) – Lara Exploration Ltd. (TSXV: LRA) (“Lara”) is pleased to announce the appointment of Mr. Anthony (Tony) Polglase as Technical Advisor, for supply to the control equipment in the progression of the Company’s Planalto copper allocation in the Mineral Province of Carajás in northern Brazil.
Mr. Polglase has a Bachelor of Engineering First Class Honours degree in Metallurgy from the Camborne School of Mines and Higher National Certificates in both Mechanical Engineering and Electrical Engineering. He began his career at the South Crofty Tin Mine in Cornwall and since then, has accumulated over 40 years’ international experience working in multiple mining disciplines for companies including AngloGold Ashanti Ltd., Rio Tinto Ltd., TVX Gold Inc., and Ivernia Inc., in Africa, Europe, the Former Soviet Union, Australia, and, for the last decade, in Brazil. Mr. Polglase has significant experience in the development, execution, and operation of new mining projects, having been responsible for, or closely involved with, the commissioning of over seven mines, both open-pit and underground inclusive of plant and maintenance management.
Mr. Polglase is the founder and lead CEO of ASX-listed Avanco Resources Ltd, which he led from pre-IPO to production at the Antas copper mine (located approximately 12 km from the Planalto project) in the mineral province of Carajás. Avanco acquired through OZ Minerals for A$418 million in 2018. He then became the founder and director of TSX-listed Bravo Mining, which aims to promote Luanga Platinum Group’s multi-billion dollar metals, gold and nickel ounces project, which is also located near in Brazil’s Carajás mining province.
In accordance with the Company’s stock option plan, Mr. Polglase has been granted 100,000 incentive stock features exercisable at $0. 64 for a constant percentage over a consistent five-year period.
About the Planalto Project:
The Planalto Copper Project covers volcano-sedimentary sequences and intrusives of early Proterozoic-age, located between Vale’s Sossego mine and Cristalino deposit, and BHP’s Pedra Branca mine and Antas mill, in the Carajás Mineral Province of northern Brazil. Lara owns 100% of the Homestead discovery, subject to a 2% NSR royalty payable on any production (Lara retains the right to purchase 50% of this royalty for a cash payment of US$2 million). Lara has further options to acquire outright two adjacent licenses, covering northward strike extensions to the Homestead mineralization; and containing the new Cupuzeiro discovery, from Mineração Tariana and Mineração Zaspir (see news releases of January 11 and March 15, 2021, for details). To date 26,016m of diamond drilling has been completed on the Planalto Copper Project, with the latest holes reported Q4-2023 linking Homestead and Cupuzeiro into a single body of mineralization.
About Lara Exploration
Lara is an exploration company that follows the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and monetary risk by generating leads and exploring them in partner-funded joint ventures, retaining a minority stake and/or royalties. Diversified portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara’s not unusual stock industry on the TSX Venture Exchange under the ticker 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 the adequacy or accuracy of this release.
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