130802 lara corporate
TRANSCRIPT
![Page 1: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/1.jpg)
1
Corporate Review
February, 2013Andre Gauthier
President
![Page 2: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/2.jpg)
2
• Except for statements of historical fact relating to the Company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are frequently characterized by
words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate” and other similar words, or
statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based
on the opinions and estimates of management on the date the statements are made, and are subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements. There can be no assurance that such
forward-looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance
on such statements. The Company does not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable securities laws.
• For a description of material factors that could cause the Company’s actual results to differ materially from
the forward-looking statements, please review the Company’s Prospectus, Annual Information Form, and
MD&A filed on www.sedar.com.
• The Qualified Person (QP) for projects in China and Peru is Andre Gauthier.
• The Qualified Person (QP) for projects in Brazil is Mike Bennell
Forward Looking Statements
![Page 3: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/3.jpg)
3
Lara Exploration – Prospect Generator
What’s a Prospect Generator – our business is about taking geological ideas and performing enough
exploration on them to attract outside capital. In so doing, we leverage our investment and retain an interest
while other people spend their money.
The Business of Discovery – even retaining only minority interests or royalties in our projects we remain
exposed to the outstanding returns possible when a substantial discovery is made.
The Advantages and Disadvantages – this low-risk approach to the exploration business can be unpopular
during bull markets, but makes the company more sustainable and thus limits the downside in more difficult
times.
Peer Group – our strategy follows that of previously successful exploration companies such as Altius, Almaden,
Mirasol, Solitario, Riverside, Azimuth and Virginia, all of which have made substantial discoveries in recent
years.
De-risking – Prospect generator includes the first stage of exploration developing concepts, staking, targets
definition and validation.
![Page 4: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/4.jpg)
People - management has depth (12 geologists), is highly experienced technically, commercially and locally.
Insiders are shareholders too.
Finance – liquid assets (cash and shares) sufficient for 2013-2014 work programs and the company is close to
cash-flow from iron ore royalties. Leveraging capital from our partners, avoiding shares dissolution.
Paper – only 26m shares outstanding, 28m fully diluted.
Partnerships – exploration paid for by joint ventures with companies from Canada, UK, Australia and South
America.
Commodities – diversified portfolio including Au, Ag, Cu, Ni, Fe, Zn, Pb, K, P and C (graphite) exposure.
Politics- multiple jurisdictions – Brazil, Peru and Colombia
Discovery – large diverse portfolio gives multiple chances of exploration success and that elusive “ten-bagger”
return from discovery, with limited downside risk.
Lara’s “DNA” – De-Risking Exploration
![Page 5: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/5.jpg)
5
• Lara Exploration (LRA – TSX.V) is a publicly traded junior exploration company based in Canada.
• Focuses on Precious and Base metals exploration and development in Peru, Brazil, Colombia and China.
• Internationally recognized Management and Exploration Teams.• Large and diverse network of contacts throughout China, Europe, North
and South America.• Can quickly identify new opportunities.• Socially and environmentally responsible.• 3 alliances: Kiwanda Phosphate, Kiwanda Coal and Antofagasta Copper.
– Peru:• 15 properties (13 Maxy Gold, 2 Minas Dixon), 4 JV• Totaling 128,300 hectares
– Brazil:• 14 properties, 6 JV• Totaling 260,300 hectares
– Chile:• 1 property• Totaling 6,000 hectares
Corporate Snapshot
Management & Directors
Miles Thompson, Chairman & CEO
Andre Gauthier, President
Michael Bennell, Vice President Exploration
Chris MacIntyre, Vice President Corporate
David Miles, Chief Financial Office
Kim Casswell, Corporate Secretary
Noel Diaz, Peru General Manager
Helio Ikeda, Manager Brazil
Independent DirectorsMichael WinnByron KingAdrian CalvertChris Jones
![Page 6: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/6.jpg)
6
Projects & Properties Location
Peru15 Properties128,300 has
Brazil14 Properties260,300 has
Chile1 Property6,000 has
![Page 7: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/7.jpg)
7
Share Structure & Price
Share Structure
Issued & Outstanding shares: 30.5 M
Stock Option:2.43 M
Fully Diluted:37.0 M
52 Week High – Low: $1.23/$1.44
Stock Exchange: LRA-V
Trading Symbol:LRA
![Page 8: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/8.jpg)
8
Lara Exploration Organization
![Page 9: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/9.jpg)
9
Mineral Properties, Exploration Stages
Financing
Lara
Part
ner
Lara
& P
artn
er
![Page 10: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/10.jpg)
10
Quality Gold & Copper prospect generator
Lara PropertiesGold Mines
World Gold Deposits
![Page 11: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/11.jpg)
11
Quality Gold & Copper prospect generator
Lara PropertiesCopper Mines
World Copper Deposits
![Page 12: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/12.jpg)
12
a Partner of Choice, diversified Metals, Countries and Nationalities
Partner Project Commodity CountryLara
Residual %Payment
US$mExploration
US$mShares
m Years
JOINT
VENTURES
Aguia Resources Sergipe Potash Brazil 25% 0.10 1.50 10.0 2
Codelco Liberdade Copper Brazil 25% 3.00 4
Avanco Resources Conceicao Nickel, PGE Brazil 25% 1.50 3
Avenue Resources North Brazil Tin Brazil 25% 2.50 4
Focus Graphite Caninde Graphite Brazil 40% 7.00 0.50 5
Redzone Resources Lara + Tingo Este Copper Peru 45% 0.85
Network Exploration Picha Copper, Silver Peru 25%+PFS 1.20 8.00 3.00 3
CJL Resources Atenea Gold Peru 25%+FS 1.50 6.75 7
Totals 6.25 50.75
Partner Commodity CountriesLara
Residual %Payment
US$m Exploration US$m/Year Years
ALLIANCES
Antofagasta Copper Brazil 30% 3 0.6 3
Kiwanda Phosphate Peru, Chile, Colombia 30% 0.5 3
Kiwanda Coal Peru, Colombia 30% 0.6 3
Totals 3.00 1.7
Partner Project Commodity CountryLara Interest Cash US$m Royalty Shares m
INTEREST & ROYALTIES
Vertical Mineração Curionopolis Iron Brazil Royalty 0.80 0.75-1.50/t
Horizonte Minerals Vila Oito Nickel Brazil Shares 8.5
Avenue Resources Sao Lourenco Tin Brazil Royalty 1.00 1.0% 3.0
Hochschild Lampa Gold Peru Royalty 2.0%
CJL Capital Chocos Zinc-Lead Peru Royalty 0.45 2.0%
Raymondi Cusco Candel 23 Copper Peru Royalty 0.30 2.0%
Totals 2.55
Socio Joint VentureResidual Lara
%Inversión en Efectivo
Millones USD$
Inversión en ExploraciónMillones USD$Fase 1 / Fase 2
MillonesAcciones Años Propiedad Metal País
Aguia Resources 25% 0.1 4.0 4.0 Sergipe K
BrazilCodelco
25% 2.5 4.0 North Brazil Ni
25% 3.0 4.0 Liberdade Cu, Au
Avenue Resources
40% 7.0 Caninde NiFocus Graphite
Redzone Resources 25% 1.5 2.50 0.85 3.0 Tingo Este / Lara Cobre
Cu
PeruAntofagasta 25% + FS 6.00 4.0 Sami Cu, Au
Network Exploration Ltd. 25% 1.2 8.00 3.00 3.0 Picha Cu, Ag
CJL Capital Inc. 25% 1.5 6.75 6.0 Chocos Cu
Kiwanda Group LLC 25% + 43 - 101 5.5 3.0 Fosfatos Andes
Western Mining Group. 50% Huangnan Cu China
Total 4.3 45.25 14.35
5.00.5
10
![Page 13: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/13.jpg)
13
Constant Partners Investment
2.7
9.35
0.5
Investment by Countries (Millions)
BrazilPeruChina
2008 2009 2010 2011 2012 2013 2014 2015 20160
0.5
1
1.5
2
2.5
3
3.5
Total Possible Cash Payments (Mi-llions)
2008 2009 2010 2011 2012 2013 2014 2015 20160
2
4
6
8
10
12
14
16
Total Partners Investment (Millions)
![Page 14: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/14.jpg)
14
Quality and Diversified Partners
Country Property Partner Stage
Brazil
Liberdade Copper Codelco * Exploration drilling
Sergipe Potash Aguia Exploration drilling
Caninde Focus Graphite Drill ready
North Brazilian Tin Avanue Resources Grass roots
Ready to generate Antofagasta Minerals Grass roots
Peru
Lara Redzone Res. Resource Drilling
Tingo Este Redzone Res. Grass roots
Chocos CJL Grass roots
Picha Network Exploration drilling
Sami Antofagasta - Anaconda Exploration drilling
Andes Ready to generate Kiwanda Grass roots
* Miners
![Page 15: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/15.jpg)
15
QAQC Procedures – Information Management
- Sampling Cards- Access DB File
Project
Office
Sampling(Rock, Soils, etc.)
Lab.
Assays Results
Andre GauthierNoel Diaz
Lab Assays Reports
Lab & Sampleinformation
Draft Area
Digital AssaysAccess DB &
Report (Excel)
Ensure confidentiality of information
Labinformation
Database Manager
Drafting Area
Digital reports of Assays Excel format
Server
Digital Information from Access DB to drafting area.
New map storage rigid file number.
1
2
3Maps
Office Process Draft Process
General Process
![Page 16: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/16.jpg)
16
Professional Database System
ChineseVersion
EnglishVersion
![Page 17: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/17.jpg)
17
Peru - Community Procedures
![Page 18: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/18.jpg)
18
Partners agressive drilling plan
• Planned 2012– Picha (Cu)– Lara (Cu, Mo)– Grace (Au)– Sergipe (K)– Condoroma (Cu, Au)– Coporaque (Cu)– Curionópolis (Cu, Au)– Curionópolis (Fe)– Conceição (Ni)– Vila Oito (Ni)– São Lourenço (Sn)
• Planned 2013– Picha (Cu)– Lara (Cu, Mo)– Grace (Au)– Sergipe (K)– Condoroma (Cu, Au)– Coporaque (Cu)– Curionópolis (Cu, Au)– Curionópolis (Fe)– Corina (Au)– Conceição (Ni)– Vila Oito (Ni)– São Lourenço (Sn)– Bayovar East (P)– Ocucaje (P)
5 out of 6 drill programs in 2011 were successful in intercepting significant
mineralization. The 4 programs completed so far in 2012 have all been similarly
successful.
![Page 19: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/19.jpg)
19
BRAZIL ACTIVITIES
![Page 20: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/20.jpg)
20
Brazil Exploration Highlights
• Codelco follow-up drilling at
Liberdade copper.
• Curionopolis high-grade copper target,
>1% Cu breccias.
• High-grade tin veins intercepted at São
Lourenço.
• Potash JV with Aguia Resources
• Growing pipeline of iron, copper and
graphite prospects.
• New copper Alliance with Antofagasta
• 14 projects, 7 funded by JV
![Page 21: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/21.jpg)
21
• The Canabrava VMS (volcanogenic massive sulphide) Project comprises 28,500 hectares of exploration
claims and licenses that covers strike extensions of the Palmeirópolis Deposits, which are a series of zinc,
lead, copper and silver sulphide ore bodies discovered by the CPRM (Brazilian Geological Survey) in the
1970's. Lara has been gradually acquiring mineral rights along this trend over the last two years as it sees
considerable potential to discover additional mineralization using modern geophysical methods and that
the base metal focused exploration work of the 1970's may have under-estimated the gold and silver
potential of the district.
• The region lies within the Brasiliano Fold belt, a Proterozoic-age mobile belt that extends up through
central Brazil. The Palmeirópolis deposits are hosted by a Mid-Proterozoic greenstone belt of the same
name, comprising a meta-volcano-sedimentary sequence of bimodal volcanics (basalt-rhyolite), overlain
by cherts, banded iron formations and pelitic and volcanoclastic sediments. Metamorphic grade is
amphibolites facies and the sequence is also intruded by granites. Massive sulphide mineralization is
stratabound, hosted by the basal volcanics and has been interpreted as volcanic massive sulphide type
(VMS) due to the well-developed alteration zones underneath the ore bodies. The ore bodies are highly
deformed.
Canabrava Project – VMS
![Page 22: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/22.jpg)
22
• The Araguaia Nickel Project comprises 45,000 hectares
of 100%-owned exploration licenses near the important
emerging nickel Carajás District, in Pará State, Northern
Brazil. Lara holds a significant property position in the
Araguaia belt, which has already generated two
significant discoveries at Serra da Tapa and Vale dos
Sonhos owned by Xstrata.
• The target geology is mafic and ultramafic intrusions
that are part of the Araguaía Ophiolite Sequence, host
to several large nickel deposits in this region. To date 66
diamond drill holes (47 in 2008) and 96 auger drill
holes (mostly in 2008) have been completed on the
project, defining significant nickel mineralization on
two targets, Vila Oito and Floresta. The Vila Oita
deposit is 1km by 1.14Km in size and has been diamond
drilled on a minimum 200x200m grid spacing (54
holes). The Floresta deposit is 1.2x0.5km in size defined
by soil geochem and auger drilling.
Araguaia Project – Nickel
![Page 23: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/23.jpg)
23
• The São Lourenço Tin Project comprises an option to acquire a 100% interest in approximately 3,500 hectares of Mining Licenses in Rondônia State, Northwest Brazil. The Company has completed surface exploration work that outlined a significant body of primary tin mineralization on the adjacent Isaac and Irene targets, with an average grade of 0.61 % tin. An agreement was also reached with the underlying owners of the mining rights to extend the Company’s purchase option until 2012.
• The Isaac target comprises multiple greisen zones ranging up to 500 metres in length and up to 50 metres in thickness, with an average grade of 0.54 % tin. The Irene target includes multiple zones of mineralization, with individual zones of up to 300 metres in length and up to 66 metres in thickness, with an average grade of 0.71 % tin. In outlining zones of mineralization a cut-off grade of 0.14 % tin and a minimum width of 4 metres (2 metres where the grade is over 1 % tin) was applied.
São Lourenço Project – Tin
![Page 24: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/24.jpg)
24
• The Company’s Curionópolis IOCG Project covers 16,452 hectares and is located in the prolific Carajás District, approximately 10 kilometres south of the Serra Pelada gold project being developed by Colossus Minerals Ltd.
• The Company is currently conducting exploration programs for iron ore (Vertical JV), copper and gold on the property. The mineralization identified at Curionópolis is IOCG-type (Iron Oxide Copper Gold), typical of the Carajás District. Gold and copper values are accompanied by geochemically anomalous arsenic, silver, bismuth, tungsten, molybdenum and uranium. Geology of the target areas are metamorphosed volcano-sedimentary sequences with wide-spread magnetite and actinolite veining, as well as pervasive actinolite, albite and scapolite alteration that also typical of IOCG systems.
Curionópolis Project – Copper, Gold
![Page 25: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/25.jpg)
25
• The Curionópolis Iron Project is 1,365 hectares in area, covering a ridge of iron formations to the northwest of the town of Curionópolis in the Carajás District, Pará State. Mineralization is similar to the iron formations in other parts of the Carajás District that are the main source of high-grade iron ore production for Vale S.A. the Brazilian mining giant. The iron formations have been mapped over a strike length of approximately ten kilometres within Lara’s property and surface sampling and drilling during the 2010 field season have already confirmed the presence of high iron grades typical of this District.
• Mapping and surface rock chip sampling on the property indicate that the iron formations extend for over 10 kilometres within the ceded property. To date 17 diamond drillholes have been completed, testing an approximately one kilometre section of iron formations denominated the Serra Morena Target. All the holes have reported significant iron mineralization from x-ray fluorescence analysis with drillhole intervals ranging from 53.81 to 168.4 metres in length returning average iron grades of between 36.41% and 65.51% Fe. The best intercept from hole FD-0011 is 166.5 metres at an average grade of 62.62% iron with low impurities (silica, aluminum and phosphorous).
Curionópolis Project – Iron
![Page 26: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/26.jpg)
26
• The Sergipe Potash Project comprises two separate license blocks, with a total area of 14,114 hectares, which are contiguous with Talon’s Capela and Panqueca potash prospects and cover the strike extension trend of the known potash deposits in Vale’s Taquari-Vassouras Mine. A significant amount of exploration data is available on the Project from the oil and gas industry, which includes geological and geophysical data from 11 oil wells. Two of these wells intersected a cumulative 37 and 5 metres of potash mineralization respectively, in ten and two individual potash-bearing horizons, at depths between 1,300 and 1,800 metres. Furthermore, data is available for at least 30 2-D seismic lines over the Project.
• In November 2008, the Company and Sprott Resource Corp., (“Sprott”) agreed to form a strategic alliance (the “Alliance”), owned 50% each, to acquire phosphate, potash and other resource opportunities. Sprott has contributed starting capital of US$500,000 to the new company, which has been used to acquire and evaluate phosphate and potash exploration properties in Brazil to evaluate acquisition opportunities. During the period the Company undertook field reconnaissance work to complete a preliminary evaluation of the Alliance phosphate and potash properties.
• Lara is in the process of acquiring the 50% owned by Sprott, and has entered into an Agreement with Talon Metals Corp. (TSX: TLO), whereby Talon has been granted an option to earn 75% interest in the project. To earn the interest, Talon must pay US$500,000 cash, and spend US$4.0 on exploration, both over the next four years. Talon will be the operator of the work programs.
Sergipe Project – Potash
![Page 27: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/27.jpg)
27
• The Liberdade Copper Project comprises a single exploration license covering 6,969 hectares in área, located
in the Municipality of São Felix do Xingu, Pará State, at the western end of the Carajás District.
• Geology comprises Proterozoic-age volcano-sedimentary sequences of the Aquiri Group and related calc-
alkaline intrusives, with evidence of iron-oxide-copper-gold (“IOCG”) alteration and mineralization seen in
small-scale “garimpeiro” surface workings. Exploration work to date has comprised reconnaissance level
mapping and sampling that has identified extensive alteration and anomalous copper values.
• In October 2010 the signed an Agreement whereby Codelco do Brasil Mineração Ltda., (“Codelco”) can earn
up to a 75% interest in the Liberdade property. Under the terms of the Agreement, Codelco may earn an
initial 51% interest by investing US$3 million in exploration over a four-year period, with a minimum
expenditure of US$400,000 in year one, of which US$300,000 is a work commitment. Codelco may then
elect to earn a further 24% interest in the property by sole-funding such additional exploration works as are
necessary to define a minimum resource of at least 500,000 tons of copper equivalent, independently
reported under National Instrument 43-101 guidelines.
Liberdade Project – Copper
![Page 28: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/28.jpg)
28
PERU ACTIVITIES
![Page 29: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/29.jpg)
29
• Drilling substantially expanded footprint of the Lara Cu porphyry.
• World class epithermal district
outlined at Sami.
• Grace and Corina gold
targets drill ready.
• Condoroma, Coporaque and
Picha copper targets
drill ready
Peru Exploration Highlights
• 15 projects, 7 already covered by partnership agreements
• Pipeline new Cu-Au discoveries at Sami, still 100%-owned by Lara
• 4 new properties stacked in 2012, 100%-owned by Lara
• 2 new properties stacked under Kiwanda Alliance (Lara 50%)
![Page 30: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/30.jpg)
30
Peru: A Leading Mining Country
Petroleum8.5
Mining59.5
Fishing5.7
Agriculture2.2
Others24.1
Mining Participation in ExportingMolib.
6%Hierro
2%
Estaño4%
Plomo6%
Plata3%
Zinc8%
Oro30%
Cobre41%
Otros0%
Mining Export Structure
CopperGoldZincSilverLeadIronTinMolibdenum
![Page 31: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/31.jpg)
31
Peru: A country of Investment
Refinería
CajamarquillaVotarantim Metais
(Brasil)
CuajoneGrupo Mexico
(Mexico)
ToquepalaGrupo Mexico
(Mexico)
MarconaShougang
Corporation(China)
Fundición yRefinería de IloGrupo Mexico
(Mexico)
ToromochoAluminium
Corp.of China
Tía MaríaGrupo Mexico
(Mexico)
InmaculadaHochschild
Mining Plc (USA)
BayovarCompañía Vale
Do Rio Doce(Brasil)
QuellavecoAnglo American
Quellaveco S.A. (UK)
Río BlancoZijin Mining Group
Co. Ltd (China)
La GranjaRio Tinto
(Uk-Australia)
CañariacoCandente Resources
(Canada)
Las BambasXstrata Copper
(Suiza)
MagistralMilpo
(Canada)
GalenoJiangxi Copper
(China)
Minas CongaNewmont,
Buenaventura (Peru)
CrespoCia. Minera Area
(Perú)
HilariónGrupo Milpo
(Perú)
MichiquillayAnglo American
Michiquillay S.A.(UK)
QuechuaMitsui Mining
(Japón)
PucamarcaGrupo Brecia
(Perú)
ConstanciaHudson Bay Mining
(Canada)
Hierro ApurimacStrike Resources Peru S.A.C.
(Australia)
Cerro Ccopane-HuillqueCuervo Resources Inc
Canada)
Los ChancasGrupo Mexico
(Mexico)
AntapaccayXstrata Tintaya S.A.
(Suiza)
Marcobre(Mina Justa)
Chariot (Canada)
PukaqaqaGrupo Milpo
(Perú)
TantahuatayNewmont, Buenaventura
(USA, Perú)
ChaquicochaNewmont, Buenaventura
(USA, Perú)
Cerro VerdeFreeport Mac
Mooran Copper (USA)
Lagunas NorteBarrick Gold
(USA)
AntaminaBHP Billiton, Xtrata-
Teck-Mitsubishi(Canada)
ColquijircaBuenaventura
(Peru)
La ArenaRio Alto Mining
(Canada)
InvictaAndean American
Mining Corp (Canada)
Pampa de PongoNanjinzhao Group Co.
(China)
HaquiraAntares Minerals
(Canada)
ChucapacaCanteras del Hallazgo
(Perú)
CercanaJunefield Group S.A.
(China)
Salmueras de SechuraAmericas Potash Peru S.A.C.
(Canada)
Los CalatosMetminco Ltd
(Australia)
ShahuindoSulliden Explor.
(Canada)
San LuisRelian Ventures S.A.C.
(Canada)
Extensions
Confirmed investment
Feasibility studies
Exploration
EX
PL
OR
AT
ION
S
TA
GE
S
![Page 32: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/32.jpg)
32
Northern VMS Belt (eg. Tambo Grande, >42 MT @ 2% Cu, 1.5% Zn)
Northern Porphyry-Epithermal Cu-Au belt (eg. Yanacocha 22 M ozs. Au, La Granja 2.3 BT @0.59% Cu + Mo)
CRD - Skarn belt (eg. Cerro de Pasco 120 MT @ 7.35% Zn, 2.5% Pb, San Gregorio 70 MT @ 8% Zn Antamina, 494 MT @ 1% Zn, 1.2% Cu)
MVT belt (eg. San Vicente, 16 MT @ 12% Zn)
Southeast Skarn-Porphyry belt (eg. Tintaya - Antapaccay, 383 MT @ 0.89% Cu)
Southern Porphyry Epithermal belt Cu-Au-Ag (eg. Quellaveco, 966 MT @ 0.63% Cu, Cuajone, 1.3 BT @ 0.63 % Cu)
Peru Mineral Belts
TertiaryVolcanics
MesozoicSediments
PaleozoicSediments
![Page 33: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/33.jpg)
33
0 500250Km
!(!( !(!(!(!( !(!(!(!(!(!(
!(!(
!(!(
!(
!(
!(!(!(!(
!(
!(
!(!(!(!(!(
!(!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(
!(!(!(!(!(!(
!(!( !(!(!(!(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!(!(!(!(!(!(!(!(
!(!(!(!(
!(!(!(!(!(!(!(!(!(!(!(
!(
!(!(!(
!(!(!(!( !(!(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(!(!(!( !(!(
!(!(
!(!(!(
!(
!(!(
!(
!(!(!(!( !(!(
!(
!(
!(!(
!(!(!(!(!(!(
!(
!(!(!(!(!(!(
!(
!(
!(
!(!( !(!(
!(
!(!(!(!(!(!(
!(!(!(!(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!(!(!(!(!(!(!(
!(!(!(!(!(!(!(
!(!(!(!(!(
!(!(!(!(!(
!(
!(!(!(!(!(!(!( !(!(
!(!(
!(!(!(
!(!(!( !(!(!(!(
!(!(!(!(
!( !(!( !(!(
!(!(
!( !(!(!(
!(!(!(!(
!(!(!(!(!(!(!(!(
!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!( !(!(!(!(!(!(!( !(!( !(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!(!(!(
!(
!(
!(!(
!(
!(!(!(!(!(!( !(!(!(!(
!(
!( !(!( !(!(!(!(!(
!(!(!(!(!(
!(!(
!(!(!(
!(
!(
!(!(
!(!(!(!(!(!(!(!(!(!(!(!(
!(
!(!(
!(
!(!(!(!(!(!(!(!(
!(!(!(
!(
!(!(
!(
!(!(!(
!(
!(
!(
!(
!(
!(!(
!(!(!(!(!(!(!(!(!(!( !(!(
!(!(!(!(!(
!( !(
!(!(!(!(
!(
!(!(
!(!(!(!(!(!(!(!( !(!(
!(
!(
!(!(!(!(!(
!(
!(!(!(!(!(
!( !(
!(!(!(
!(!(!(!(!(!(
!( !(!(!(!(!(!(!( !(!( !(
!(!(!(!(!(
!(!(!( !(!(!(!(!(!(!(!(!( !(!(
!(!(
!(
!(!(!(!(!(!(
!(!( !(!(!(!(!(!(!(!( !(!(!(
!(!(
!(!(!(
!(!(
!(!( !(!(!(!(!(!(!( !(!(
!(
!(!(!(
!(!(
!(
!(
!(
!(!(!(!(
!(!(
!(!(!(!( !(
!(
!(!(
!(
!(!(
!(!(!(
!(
!(!(
!(!(
!(!(!(!(
!(
!(
!(!(!(!(!(!(!(!(!(!(!(
!( !(!(!(
!( !(!(
!(
!(!(
!(
!(!(
!(!(!(
!(
!(!(
!(
!( !(
!(!(!(!(!(!(
!( !(!(!(!(!(
!(!(
!(
!(!(!(!(!(!(!(
!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(
!( !(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!(!( !( !(!(!( !(!(!(!(
!(!(!(!(!(!(!(!(!(!(
!(
!(!(!(!(!(
!(
!(
!(
!(
!(!(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!( !(!(!(
!(!(!(!(!(
!(
!(!(!(!(!(
!(
!(
!(!(
!(
!(
!(!(!(!(!(!(!(!(
!(!(!(!(
!(!(
!(!(
!(
!(!(!(!(
!(!(!(
!(!(!(!(
!( !(!(
!(
!(
!(!(
!(
!(!(
!(!(!(!(
!(!(!(
!(!(!(!(
!(!(!(!(!(!(!(
!(!(
!(
!(
!(!(!(!( !(!(
!(
!(!(!(
!(!(!(
!(
!(
!(
!(!(!(!(
!(!(
!(
!(
!(
!(!(!(
!(!(!(
!(
!(
!(!(!(!(!(!(
!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!(!(
!(
!(
!(
!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(!(
!( !(!(!(!(!(!(
!(
!(
!(!(
!(!(!(!(!(
!(!(!(
!(
!(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!(!(!(!( !(!(
!(!(!(!(!(!( !(
!(!(
!(!(!( !(!(
!(!(
!(!(
!(!(!(!(!(
!(
!(
!(!(
!(
!(!(!(
!(!(
!(!(
!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!( !(
!(!(!(!(!( !(!(!( !(
!(
!( !(!(!(
!( !(!(
!(
!(!(
!(
!(!(
!(!(!(
!(
!(
!( !(!(!(
!(!(
!(
!(!(
!(!(!(!(!(!(!(
!(
!(
!(
!(!(!(!(!(
!(!(
!( !(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !( !(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!( !(!( !(!(!(!(!(!(!(!(!(!(!(!( !(!(
!(!(!(
!(
!(!(!(!(!(!(!(!(!(!(!(!(!(
!(!(
!(
!(
!(!(!( !(
!(
!(
!(!(
!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!(
!(
!(!(
!(!(
!(!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(
!( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!(!(!( !(!(!(!( !(!( !(!(!( !(!(!(!(!(!(
!(
!(!(!(!(!(
!(
!(!(!(!(
!(!(!(
!(!(
!(!(!( !(!(!(!(!(!(!(!(!(!(!(!(!(
!(
!( !(!(!(!(!(!(!(!(!(!(!(!(!(
!( !(!(!(
!( !(!(
!(
!(!(
!(
!(!(
!(!(!(
LARA Peru Properties, Operations & Mines
Copper Operation & Mines
Polymetallic Operation & Mines
GoldOperation & Mines
Au occurrences
Lara properties
Cu occurrences
Lara properties
Polymetallic occurrences
Lara properties
EcuadorColombia
Brazil
Chile
Bolivia
EcuadorColombia
Brazil
Chile
Bolivia
EcuadorColombia
Brazil
Chile
Bolivia
![Page 34: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/34.jpg)
34
Lara Peru J/V Properties
![Page 35: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/35.jpg)
35
Geology Copper Belts and Trends
![Page 36: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/36.jpg)
36
Peru South: Structures, Mines
![Page 37: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/37.jpg)
37
Peru South: Structures, Mines & LARA Properties
![Page 38: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/38.jpg)
38
Lara Properties, Copper Porphyry - Volcanic Belt
![Page 39: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/39.jpg)
39
Lara Properties, Porphyry Au-Cu Model
Sami
Coporaque
Picha
ChocosCondoroma
GoldCopperPolymetallic
Lara
![Page 40: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/40.jpg)
40
Lara – Properties Location
![Page 42: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/42.jpg)
42
• 1,800 hectares, property
is located about 40 km
east of the Pan
American Highway. 400
km southeast from
Lima, in Peru.
• The claims are 100%
owned by Minas Dixon
S.A., a wholly owned
Peruvian subsidiary of
Lara Exploration Ltd.
Lara Project, Location Map
LARA PROPERTIES
![Page 43: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/43.jpg)
43
Lara Project, Regional Map – Geology review
The report detailed the
Lara property, including an
inferred mineral resource
estimate of 18.6 million
tonnes grading 0.53%
copper using a 0.2% copper
cut-off. Within this
inventory are higher-grade
blocks estimated at 6.5
million tonnes grading
0.91% copper using a 0.5%
cut-off and 4.8 million
tonnes grading 1.04%
copper using a 0.6% copper
cut off. The resource
remains open to the east
and to the west.
![Page 44: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/44.jpg)
44
• A highly altered intrusive body lies beneath what appears to be the leached cap of a porphyry copper
deposit situated on the Lara 2A and 4 mineral claims, measuring over 1 km north-south by 1.5 km east-west.
• An induced polarization (IP) survey conducted in 1997 yielded very encouraging results, extending the target
area eastward to include a system named Mina de Socos.
• The deposit is a Chalcocite blanket with an inferred resource of [email protected]% Cu with a higher- grade core.
• The property is shallow, and agreeable to open pit mining with a SX-EW recovery.
• The expanded target area covers about 6 km2.
• Twenty-five drill holes totaling 2,876 meters have been drilled in three programs since May 1997 comprising
2,742 meters of reverse circulation and 134 meters of diamond drilling.
• Eleven DDHs totaling 1997.80 meters were completed from Nov. 2010 to Jan 2011.
• Assays results of 4 short holes in the central part reported 3.60 to 35.00 of Supergene enriched
mineralization with 2774 to 8117 ppm Cu and from 20 to 88.7@ppm Mo.
• DDH 35 to the East reported 230.30 meters with 0.55% Cu and 373 ppm Mo of this, 45.50 meters
Supergene with 0.64% Cu and 145 ppm Mo, 184.80 meters were Hypogene with 0.53% Cu and 429 ppm Mo.
Lara Project, Highlights
![Page 49: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/49.jpg)
49
Lara Project, Vertical Section, DDH 38 To DDH 35, Cu ppm
![Page 50: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/50.jpg)
50
Lara Project, Vertical Section, DDH 38 To DDH 35, Mo ppm
![Page 59: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/59.jpg)
59
Picha Property (J/V Lara – Network Exploration)
PICHA
![Page 60: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/60.jpg)
60
Picha, General Overview
General • Moquegua department , 6,000 hectares.• Tertiary volcanic overlain by lacustrine
sediments.• Cu stockwork, hydrothermal breccia, veins and
conceptual Cu-Pb, Zn-Ag Manto targets.• Soils and grass are covering most part of the
property.• Mineralogy: Malachite, chrysocolla, azurite
minor galena, sphalerite, Fe-Mn-Oxides.• Soils and grass are covering most part of the
property.
Exploration works:• 156 chip/rock samples (or 231 chip/rock
samples, ?) and 12 soil and 13 stream. • Exploration potential large epigenetic,
polymetallic (Cu-Ag-Pb-Zn) bulk tonnage deposit.• Additional 100 hectares staked
• Six zones, located in the northern part of the property were identified; Cobremani, Maricate, Fundicion, Timillo, Huancune and Cumbre Coya zones
• Mineralization; Cu ore grade values at Cobremani and Maricate (1.5Km N-S by 1.0Km E-W) exhibing breccia pipe or hydrothermal breccia; Fe-Ox stockwork and Cu-Ox and veinlets.
• This zone needs IP/MAG geophysics survey.• Cu-Pb-Zn stratabound mineralized manto at
Cumbre Coya structurally controlled, have not been evaluated.
• Erratic Mineralization.
![Page 61: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/61.jpg)
61
Picha, Results
• Cobremani – Maricate sector• Cobremani, 5 samples
₋ 150 x 150m old mine, Hydrothermal breccia and stockwork.
₋ Ag (1), 48.8g/t₋ Cu (3), 0.6 up 3.24%₋ Pb (2), 219 – 589 ppm₋ Zn (3), 107 up to 199 ppm
• Maricate, 3 samples₋ Ag (2), 5 – 33.5g/t₋ Cu (3), 0.3 up 1.89%₋ Pb (3), 142 up 251 ppm₋ Zn (3), 94 – 165 ppm
• Fundicion, 6 samples₋ Cu-Ox and Fe-Ox in thin short veins₋ Ag (1), 46.6 g/t₋ Cu (1), 1,140 ppm₋ Pb (1), 2.43%₋ Zn (1), 317 ppm₋ U (1), 21.26 ppm
• Huancune₋ Quartz veinlets, Cu-Ox, Fe-Ox
• Timillo₋ Quartz veinlets, Cu-Ox, galena, sphalerite,
tetrahedrite (?)• Cumbre Coya – Ventilla Sector• Cumbre Coya, 15 samples.
₋ 40m long, 7m wide stratabound mineralised manto outcrop.
₋ Ag (4), 2.5 up 127 g/t.₋ Cu (3), 2080 up 6510 ppm₋ Pb (4), 1047 ppm up 26.76%₋ Zn (4), 858 ppm up 1.08%₋ U (3), 10.33 up 26.3 ppm
• Ventilla, 6 samples₋ Thin veinlets showing quartz-galena, Fe-Ox
(Jarosite-Goethite)₋ Ag (3), 4.8 – 10.2 g/t₋ Cu (1), 0.15%₋ Pb (4), 0.9 up 22.97%₋ Zn (6), 220 up 375 ppm
![Page 62: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/62.jpg)
62
Picha, Regional Map
The Picha property is located in Southern Peru, in the NW part of the Pichacane quadrangle (33-v), near to the Jesus Maria settlement in the San Antonio de Esquilache district, Sanchez Cerro province and Moquegua department.
The access from Lima is by commercial flight to Juliaca city with stop-over in Arequipa (about 2 hours). Then, Juliaca to Puno, through a paved road of 44 km (50 min) and from Puno to Jesus Maria in a gravelled road with 89 km (3.5 hours). Access from Arequipa is via a paved road to Juliaca and Puno and then by graveled road to Jesus Maria.
PICHA
![Page 63: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/63.jpg)
63
Picha project close to new discoveries
![Page 64: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/64.jpg)
64
Picha, Cu PPM Geochemistry
Outcrop of clay sands of Maure group. Jancojahuira canyon, Looking to the NE
7 Zones identified
A1
A1’
![Page 65: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/65.jpg)
65
Picha, A – A’ and B – B’ Section
Stratified VolcanoHydrothermal Breccia
Argilic Alteration
Faults & Fracturing
(Filled of SiO2)
Sericitic alteration
Intrusive
Potasic alteration
Pre-Volcanic rocks
Faults & Fracturing
(Silicified bx)
Cobremani, Geological Model
![Page 66: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/66.jpg)
66
Picha, Geophisycs Resistivity 100
![Page 67: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/67.jpg)
67
Picha, Mineralization at Cobremani
Oxidized, sulfided copper mineralization. Brecciated, stockwork and disseminated
![Page 68: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/68.jpg)
68
Condoroma Property – Cu, Au (J/V Lara – GBU)
CONDOROMA
![Page 69: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/69.jpg)
69
Condoroma-Picha – Geological Section Model
A
A’
![Page 70: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/70.jpg)
70
Condoroma, Summary
General• Cuzco department 9,817 hectares.• Same metallogenic belt Tintaya copper porphyry
- skarn mine.
Geology and Exploration WorksTertiary volcanic rocks; • Former small-scale producer, Condoroma Pb-Zn-
Ag mine, 1970’s. • Manto-style disseminated “Cu” mineralization,
structurally controlled • Possible “conceptual” porphyry copper
mineralization and High Sulfidation Precious Metals mineralization.
• Total 1068 samples collected to be Au 50g and ICP analyzed.
• PIMA analysis : 76 samples.• Microscopic studies : 8 samples.• MAG : 24 lines @ 60.955
Km.• IP : 13 lines @ 34.2 Km.• Digital Ortophotos : 10,000 Has.• Trenching : 90 m.• NI, 43_101 was completed on Condoroma along
with Chocos properties. It was carried out by Paul Dunbar of Watts, Griffis and McOuat.
• Five indentified targets: Oro y Paloma (NW_SE), Oro y Paloma east, Blanquilla south, Blanquilla west and Cerro Crucero.
• Good relationships maintained with local communities people and authorities.
• Drilling program permits approved by the community but needs the proceedings under the mining minister for the approval.
![Page 71: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/71.jpg)
71
• At Oro y Paloma (NW_SE) 1,700m x 800m
• Cu (Au_Ag) mineralization in veinlets and disseminations, as well as within the matrix of hydrothermal
breccias hosted in felsic dome.
• Chalcopyrite, partially replaced by Chalcocite, Bornite, Covellite, Goethite, Jarosite and Erythrite.
• From 469 geochem samples, 13 returned greater than 1% Cu and up 6.94%; 3 samples returned > 1g/t Au
and up to 3.17 g/t Au and up to 398 g/t Ag.
• MAG/IP Geophysics Survey defines 4 moderate chargeability anomalies. IP1 covers the Oro y Paloma
(NW_SE) target.
• Anomalous values of Barium and Cobalt are evident.
Condoroma, Results
![Page 72: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/72.jpg)
72
Condoroma, Property location
![Page 73: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/73.jpg)
73
Condoroma, Alteration
![Page 74: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/74.jpg)
74
Condoroma, Rocks Cu PPM - Iso Contours
![Page 75: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/75.jpg)
75
Condoroma, Blanquilla and Oro y Paloma Sector
![Page 76: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/76.jpg)
76
Condoroma, Cu PPM
![Page 77: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/77.jpg)
77
Condoroma, Geology details
![Page 78: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/78.jpg)
78
Condoroma, Oro y Paloma Target
Geophysics:Resistivity (Depth 350m)Geochemistry: Cu ppm
![Page 79: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/79.jpg)
79
Condoroma, Oro y Paloma Chargeability
Geophysics:Chargeability (Depth 350m)Geochemistry: Cu ppm
![Page 80: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/80.jpg)
80
Condoroma, Oro y Paloma, Cu PPM
![Page 81: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/81.jpg)
81
Condoroma, Section 1-1’ Model
Maxy Gold occur.
Maxy Gold property
1:15,000
Other properties
LITHOLOGYQ-al_Alluvial DepositsQ-m_Morrenic DepositsTMa_Maure GroupTPa_Palca GroupTSi_Sillapaca GroupTTa_Tacaza Group
STRUCTURE
Major LineamentsMinor Lineaments
SECTIONS
OroyPaloma SectionsCondoroma Sections
GEOCHEMISTRYCu ppm10001 - 1000001001 - 10000501 - 1000101 - 50061 - 10031 - 605 - 30
Co ppm1001 - 10000501 - 1000101 - 50051 - 10031 - 5011 - 302 - 10
Au ppm1.001 - 100.501 - 10.101 - 0.50.051 - 0.10.011 - 0.050.006 - 0.010.005
Ag ppm10.1 - 505.1 - 100.1 - 5
LEGEND
Section Location
![Page 82: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/82.jpg)
82
Condoroma, Oro y Paloma, Looking SW
Note whole area of Oro y Paloma outlined in blue. Also note the Oro y Paloma SE intrusive dome and the Oro y Paloma NW dome.
Oro y Paloma SE
Oro y Paloma NW
800 m
1200 m
![Page 83: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/83.jpg)
83
Condoroma, Oro y Paloma, looking SE
Oro y Paloma SE
200m
![Page 84: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/84.jpg)
84
Condoroma, Rocks Samples
0 5 10cm
Fine quartz veinlets associated to chalcopyrite partially replaced by chalcocite and limonites. Also fine disseminated sulfides and limonites. Rock is a strongly argillized
and kaolinized rhyolite tuff.
Thick veinlets and blebs of chalcopyrite partially replaced by chalcocite, bornite and green copper oxides hosted in strongly argillized and silicified rhyolite tuff of the Oro
Paloma dome.
Oxidized & leached rock. Oxides and sulfides. Thin and thick chalcopyrite veinlets replaced by chalcocite, bornite and green Cu oxides. Rock is a rhyolitic tuff strongly argillized and silicified. Oro y Paloma SE area.
![Page 85: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/85.jpg)
85
Condoroma, Rock Sample
Veinlets and disseminated oxydized mineralization
![Page 86: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/86.jpg)
86
Coporaque Property – Au (J/V Lara – GBU)
COPORAQUE
![Page 87: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/87.jpg)
87
• Cuzco department, totaling 7,949 hectares.
• 28Km NW from Cu-Au Skarn-porphyry Tintaya district.
• Lower Cretaceous clastics rocks, upper Cretaceous intrussions and, tertiary volcanics.
• Alteration:
– A) Silicification and waek limonite
– B) Fe-Ox halous associated to small vein-structures
– C) Pervasive phyllic alteration associated to porphyry Cu-Mo systems
• Mineralization:
– A) Short vein-type structures showing anomalous values in Au, Cu, Pb and Zn. Low potential.
– B) Vein-Type structures showing anomalous values in Au, As, Cu, Fe and Mn in 700m x 400m. Target of second order.
– C) Porphyry Cu-Mo (Au) mineralization type, wich outcrops over 3Km long 6-50m wide, associated to Silica-Ox
Stockwork.
• Anomalous values in Au, Cu, Bi, As, Fe, Mn, Mo, Pb and Zn.
Coporaque, General Overview
![Page 88: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/88.jpg)
88
Coporaque, Regional lithology
![Page 89: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/89.jpg)
89
Coporaque, Local geology
![Page 90: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/90.jpg)
90
Coporaque, Geochemistry Cu PPM
![Page 91: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/91.jpg)
91
Atenea Property – JV Lara / Alta Res.ALTARESOURCES
ATENEA
![Page 92: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/92.jpg)
92
The property consists of three
concessions totaling 3,000
hectares located in Coporaque
and Livitaca districts of Espinar
and Chumbivilcas provinces,
Cusco department, along of the
Huaylla-Apacheta Cordillera of the
southern Peru, at 16km southeast
from HudBay Minerals’
Constancia Cu-Porphyry deposit
(400Mt@ 0.43% Cu, 0.011% Mo)
and other targets. The property is
reached driven from Arequipa city
through 378 km in 4x4 wheel
drive.
Atenea, General overviewALTARESOURCES
![Page 93: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/93.jpg)
93
Atenea, LithologyALTARESOURCES
![Page 94: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/94.jpg)
94
Atenea, Mineralization and TectonicALTARESOURCES
![Page 95: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/95.jpg)
95
Atenea, Photos
White granular silice zone, inferior edge brecciated and oxidized
Detail of the granular silice brecciated and oxidized
ALTARESOURCES
![Page 96: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/96.jpg)
96
Sami Property
SAMI
![Page 97: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/97.jpg)
97
Sami, General Overview
General
• Ayacucho dept., Sami 47,000 Has., previously Barrick drilled in the surrounding.
• Tertiary volcanic rocks belt; High sulphidation gold – silver and possible low sulphidation targets.
• Copper – Vein structures probable related to porphyry type mineralization at depth.
Previous Exploration Works by Minera del Suroeste and Minera Peñoles
• Sami, 1:5,000 geological mapping and litho geochemical sampling.
• Sami, IP ground geophysical surveying; not in possession of the IP data.
![Page 98: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/98.jpg)
98
Sami, Previous Results
Results
• 647 samples on Sami were collected by Minera del Suroeste grades of 0.2 to 8.89 g/t Au and 1.6 to 28.8 g/t Ag were obtained.
• First pass was done on the property in approx. 40 Km by 60 Km with Andean orientation. Cluster of Silica-Alunite-Kaolinite altered areas.
• Two regional fault lineaments, striking NW-SE, and subsidiaries NNE, E-W and N-S systems, favorable ground for mineralization.
• Block faulting due to structures intersections generate eroded and preserved mineralized blocks.
• Relevant presence of domes.• Probable precious metals high sulfidation and
buried porphyry-type mineralization.• East sector of the property shows more altered-
mineralized outcrops, some of them previously drilled.
• Alunite-Dickite-Kaolinite-Prophyry_Diaspore assemblage and punctual silicification.
• Goethite_Hematite (after pyrite) filling breccia structures with massive and sometimes veggie silica. Also opaline.
• Best assays from MAXY’s sampling₋ Sami Este: 121 ppb Au, 211 ppm Cu, 298 ppm
Mo, 4373 Ba.₋ Loclocsa: 163 ppb Au, 805 ppm Cu, 40 ppm
Mo, 488 ppm Pb, 472 ppm Zu, 2086 ppm Ba₋ Lerjona South: 147 ppb Au, 56 ppm Cu, 3 ppm
Mo, 837 ppm Ba.• 17 anomalous areas have been outlined:
₋ Ñañate (Probable porphyry_style); Sami Este, Loclocsa, Yanasora (High sulfidation) and Pitusaja.
₋ Others: CcelloCruz, Lerjona, Lerjona South, Ñuños, Pirca, Sami Oeste, Sami Norte and Atochujana.
![Page 99: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/99.jpg)
99
Sami, Exploration Works done
• Intensive rock geochemical sampling on Sami property in 3 campaigns .
• 259 rock chips, 23 duplicates and 9 stream sediments.
• Anomalous areas:₋ Pitusaja₋ Sami Norte₋ Ñañate₋ Titiminas₋ Ñuños Norte₋ Pirca₋ Yanasora Sur₋ Sami Oeste
Pitusaja target:• Newly discovered area of 300 x 300 m possible
lateral extension covered by quaternary material.• Tuffs strongly silicified with dissemination of fine
pyrite and also in vein lets.• It is highly mineralized Epithermal system with
Au-Ag high sulfidation that reported:₋ Au: 22 samples from 93 up to 1450 ppb.₋ Ag: 18 samples from 1 up to 25.4 ppm.₋ Hg: 35 samples from 1.1 up to 152 ppm.₋ As: 30 samples from 293 up to 2298 ppm.₋ Sb: 28 samples from 101 up to 3541 ppm.
• Anomalous in Bi, Ba, Mo and Pb.
![Page 100: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/100.jpg)
100
Tertiary Volcanic Belt
Significant deposits of gold hosted un High Sulphidation Systems
Sami, Location at Volcanic Belt
Sami location
N
![Page 101: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/101.jpg)
101
Sami, Regional Map
![Page 102: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/102.jpg)
102
Sami, Geological Section
![Page 103: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/103.jpg)
103
Sami, Aster Alteration
![Page 104: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/104.jpg)
104
Sami – Au PPB & Ag PPM Geochemical Iso-Values
![Page 105: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/105.jpg)
105
Sami, Pitusaja Target, Au ppb
![Page 106: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/106.jpg)
106
Sami, Loclocsa Target – Previous Drilling “Peñoles”
BDL – 01-60°
190.50 m.Au g/t
00.3 – 0.05
0.05 – 0.07
0.07 – 0.10
ALTERATIONSilicification
Advanced Argilic
Argilic (Kaolinite – Diquite)
Illite
Esmectite
BDL – 03-60°
137.10 m.
BDL – 04-50°
176.20 m.
BDL-03137.1 m
BDL-04176.2 m
BDL-01190.5 m
BDL-02170.9 m
![Page 107: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/107.jpg)
107
Comparison with: Anabi, Yanacocha and La Colosa
![Page 108: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/108.jpg)
108
Sami, Pitusaja Target, Panoramic view
50m. Q-col
ArgilizationSilicification
44394: 1.45 g/t Au; 16.7 ppm Ag.44393: 0.54 g/t Au; 25.4 ppm Ag.
45375: 0.46 g/t Au; 0.3 ppm Ag.
45379: 0.60 g/t Au; 19.9 ppm Ag.
Q-colQ-colDome (?)
Q-col
Agglutinate
NE to SW view, Pitusaja anomaly, bordered by Quaternary (Q-col) covertures, to the right one isolated outcrop which apparently belongs to the main anomaly. Pitusaja, for a total of 28 samples, the weighted average reports 0.32 g/t of Au and 6.24 g7t of Ag.
Pitusaja Anomally45375: 0.46 g/t Au45376: 0.23 g/t Au45377: 0.26 g/t Au
Q-col
Q-colQ-col
Agglutinate
? ??
50m.
Argilization
West to East view of Pitusaja anomaly, samples from 45375 to 45377 are shown and apparently correspond to the main anomaly.45375 (Au 463ppb); 45376 (Au 228ppb); 45377 (Au 256ppb)
![Page 109: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/109.jpg)
109
0.2 g/t Au0.4 g/t Au
0.3 g/t Au
0.2 g/t Au1.4 g/t Au
0.2 g/t Au0.2 g/t Au 0.2 g/t Au
? ?
Q-col
Q-colQ-col
Q-col
Q-al
Sami, Pitusaja Target
Pitusaja River
Q-al
Q-al
PITUSAJA ANOMALY, sample44394 of 10 m width, hydrothermal breccia: siliceous fragments (< 1 cm),
in gray matrix with plenty disseminated piryte, reports: 1.45 ppm Au, 16.7 ppm Ag, 50 ppm Hg, 399 ppm As, 170 ppm Bi, 240 ppm Sb and 26 ppm Mo.
PITUSAJA ANOMALY, looking to the North-East; showing the widest part (40 m), the weighted average of this section reports 0.21 g/t Au and 5.44
g/t Ag.
![Page 110: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/110.jpg)
110
Sami, Panoramic View
View 140° SE (Sami 24) View 250° SW (Sami 21,22)
View 260° SW (Sami 23,24)
View 310° NW (Sami 28,29)
![Page 111: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/111.jpg)
111
Sami, Breccia and Silicification
Hydrothermal Breccia, strong silicification
Sami Este: Area looking east from base
![Page 112: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/112.jpg)
112
Sami, Pitusaja Target
Very strong silicification
Hydrothermal Breccia
Hydrothermal Breccia
Mineralization – Alteration details
![Page 113: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/113.jpg)
113
Isy Target
![Page 114: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/114.jpg)
114
Isy – Zone 1
Look to SW
S W
Hydrothermal breccia
Andesite
Andesite and brecciated tuffs
![Page 115: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/115.jpg)
115
Isy samples
Tectonic hydrothermal breccia, FeOx matrix, granulated white silicaSubangular clasts of gay silica, silicified andesite
![Page 116: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/116.jpg)
116
Isy samples
Abundant limonite and limonite Boxwork with filling fractures and cavities
![Page 117: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/117.jpg)
117
Examples: Puren Discovery Facts
• Puren is a blind deposit, covered by colluviums/soils and steam-heated altered volcanic.
• Property optioned in 1995 by Placer Dome from Codelco. Several geophysically defined targets were
drilled (19 holes) without significant success; option was dropped.
• MDO negotiated a deal with Codelco in 2002 (US$1.75M to earn 65%). Two targets were defined by
geological mapping: the southern target failed to produce economic mineralization, the northern target
delivered a M&I resource of 1.53 Moz Aueq from 17 Mt of ore at 2.8 g/t Aueq.
• Puren JV begins Phase 1 pre-stripping later in 2005, Puren Phase I will extend La Coipa mine life by >2 yr.
• Current reserve (Puren Phase 1 pit) is ~500,000oz Aueq.
• Estimated mineral reserves and mineral resources as at December 31. Full details and important related
information are contained in Placer Dome’s press release dated February 26, 2004 and February 23, 2005
and available on our website at www.placerdome.com
![Page 118: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/118.jpg)
118
Sami, Geological Model
Sami
![Page 119: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/119.jpg)
119
Sami, Alterations & Mineralization Model
![Page 120: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/120.jpg)
120
Comparison with similar deposits - View of Puren
![Page 121: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/121.jpg)
121
Crofoot – Lewis Hot Spring Gold – Silver Deposit
Steam Heated Zone
![Page 122: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/122.jpg)
122
Grace Property
GRACE
![Page 123: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/123.jpg)
123
Grace, Location
• Ayacucho department,
totaling 4800 hectares.
• Hydrothermal breccias
outcropping in E_W and
N5OE directions made up
by granular silica matrix
cementing angular tuff
and alunite in cavities as
alteration.
![Page 124: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/124.jpg)
124
Grace, Geochemical Au PPB
![Page 125: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/125.jpg)
125
Grace - Photos
Zone 3 view, N-S anomaly by Ag-As-Sb-Pb-Bi, brown at the right associated to fault N 10° E, bx with abundant presence of hematite and jarosite powder, 45529 to 45531 samples reports values of Ag 4.5 to 13.4 ppm, sample 45534 reports 18.8 ppm.
Bx: silicon fragments in siliceous sandstone matrix, abundant jarosite powder.
Allunite Quartz alteration
45534
45529/45530/45531
45440/45441/45442/45443
45445/45446/45447/45448/45449
Zone 2 view, N-S anomaly by Au-Hg-Sb/As, bx: fragments and silica matrix, abundant granular silica (bx phreatomagmatic?) Abundant hematite; samples 45440 to 45443 reports values of Au 238 y 391 ppb, in a sampling, transversal line to the photo; samples 45445 to 45449 in other sampling line reports: 34 to
64 ppb of Au.
![Page 126: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/126.jpg)
126
CORINA
Corina PropertyJ/V Lara – Consorcio Minero Horizonte
![Page 127: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/127.jpg)
127
Corina, General Overview
Low Sulphidation Mineralization
• Apurimac dept., 13,369 hectares.
• 4.5 Km long Low Sulfidation Gold structure hosted in Tertiary and domes rocks.
• Previous 90 samples returned up to 6.67 g/t Au.
• Due to isolated location, no old or artisan working have been detected.
• The main mineralized structure shares the same structural corridor NE_SW which controls the gold-silver deposits of Selene, Explorador and Pallacanta mines, also the Cuello Cuello prospect. A fine work must be carried out with the local community to get the permit for the exploration workings
• Possibility to find gold mineralization within Mesozoic quartzites.
• Currently optioned to Consorcio Minero Horizonte.
![Page 128: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/128.jpg)
128
Corina, Lithology & Promesa Vein
![Page 129: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/129.jpg)
129
Corina, Promesa Fault
Quartzites -Yura Group
Inferred fault
Ryolitic - DomeVein - Structure
PROMESA
750 mZone looking west, note E-W faulting add the quartzite to the south of the ryolitic dome.
![Page 130: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/130.jpg)
130
Corina, Promesa Vein
Hyaline silice
Light-brown siliceHyaline Light-brown siliceGray-black silice
Hyaline Light-brown silice
Promesa vein with banded silica texture (Hyaline Light-brown silice). At the borders coloform silica, average width 80cm.
Tipical Low Sulfidation Vein
Gray silice structure
Gray silice structure striking E-W. Average width 80cm. 6 mt. In length.
![Page 131: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/131.jpg)
131
Corina, Promesa Vein
RUNTUCOCHAHill
Maxy GoldClaims
PROMESA VEINDOME
0 2 41Km
Satellite image showing the Maxy Gold Corina claims location at the morphologic context.
![Page 132: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/132.jpg)
132
Corina, Panoramic View
132
1.1 KmE W
Main vein trace
Vein 1
Silica veinlet zone, high grades
Outcrop100m x 15m altered tuffrhyodacite, Anomaly Au,Ag,
RS 70201: MaxyGold 6.7gptAu, Horizon1gpt [email protected]
Pinch & Swell N65°E/50S. Anomaly Au, Ag
E W
3 Km
![Page 133: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/133.jpg)
133
Corina, Vein trace
Vein Trace
Sample 70201, resampling Zone of Maxy Gold in a width of 0.20m reported values of 6.7 gr/t Au, returned a law of 0.98 gr/t Au in a width of 1.50 m; brecciated zone of opaline gray silice.
![Page 134: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/134.jpg)
134
Corina, Vein view
West side of the Corina vein (sigmoide lace), note a fault follows N65°E/50°SE. Samples 76999 and 77000.
![Page 135: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/135.jpg)
135
Corina, Sample
Vein at the west side of Corina (Pinch & Swell); only Au and Ag anomalous values were obtained.Note the opaline gray silice due to sulphides presence.
![Page 136: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/136.jpg)
136
Corina, Lithology formation
Quartzites brecciated, weakly mineralized
Altered volcanics and weakly mineralized
Quartzites folded
![Page 137: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/137.jpg)
137
Corina, East view
Corina East: Brecciated quartzites, near of the contact zone with the volcanics. 70204 sample was taken reporting values of 249 ppm of barium. Possible extension of the Promesa vein to the east.
![Page 138: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/138.jpg)
138
Corina, Geochemistry - Au PPB
Promesa Vein
![Page 139: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/139.jpg)
139
Corina – Geochemical - Au PPB & Ag PPM
Probable high zone of the system,high anomalous values of
Sb (>1%) and Hg reachs 8.4 ppmSilica vein, hialine with sulphures
900 m with erratic valuesof Au until 6.7 g/t in 1.9 m
anomalies of Hg and Sb. Silica opaline banded
High laws of Au until 31 g/t,veins of white silica with "dog tooth"
in porous volcanics zone with 2 values of Hg in the higher zones
![Page 140: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/140.jpg)
140
CHOCOS
Chocos Property – Cu, Au
![Page 141: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/141.jpg)
141
Chocos, Summary
General • Arequipa Department, 34,448.15 hectares.• Tertiary mafic volcanics rocks and lacustrine
limestones intruded by andesitic domes.• Explore 5,000 hect / 34,400 hct
Exploration works• Multiple Zn-Pb-Ag-Cu vein systems.• Related to radial structures.• Miocene Age porphyritic andesitic dome.• 8 Zinc-Lead-Silver-Copper vein systems.• Trenching NE in area 2Km by 300-800m.• Geochemistry: 1,606 samples.• Trenching: 2,198.3m.• Microscopic studies: 13 samples.• Digital Aerophoto: 22,600 Ha. (Includes south
sector)
Assessment of the North Sector (14% of the property)
• 8 Polymetallic Zn_Pb_Ag_Cu_Cd veins in an area of 2Km by 300-800m.
• Dimensions: 200-800m long; 0.5-2.5m widths• Strike N20°E, N-S; dips: 55°80° NW and SE
![Page 142: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/142.jpg)
142
Chocos, Results
Zone “A”, 6 veins 1.2 Kmx0.6Km, 400m SE of Cerro Chocos• Brecciated veins containing mainly dissemintaed
galena, sphalerite, cerusite, anglesite, Fe-Ox, sporadic Cu-Ox in fractures.₋ Zn: 1-5%, exceptional highs 7-13%₋ Pb: 1-7%, exceptional highs 9-17%₋ Ag: 20-66 g/t₋ Cu: 300-4090 ppm, exceptional highs 1.2-4.8%₋ Cd: 30-1858 ppm
Zone “B”, 600m x 500m, near Cerro Chaupiloma• Brecciated structure 100-300m long with parallel
branches, Galena-spahlerite in chalcedonic silica matrix.₋ Zn: 0.11-2.8%, some highs up 4.55%. Wall
rocks up 900 ppm.₋ Pb: 0.11-2.9%, excepcional highs of 8.2-16.9%.
Wall rock up 900 ppm
₋ Ag: 18-85 g/t in Chaupiloma vein. 0.5-10 g/t Ag in wall rocks.
₋ Cu: 20-259 ppm, 1 value of 0.13% Cu.₋ Cd: 10-60 ppm in four samples
Milagros• Arequipa department, 2,800 hectares.• Covers west and north areas of Chocos property.• Crosta image altered area at the contact of Tertiary
intrusive with Tertiary Belt volcanics rocks.• Targets: Au-Cu veint systems associated with high
Pb-Zn-Ag grades.
OTHER TARGETS (Need more prospection)• Yanajaja, 3Km SE of Cerro Chocos, Two
geochemical Pb-Zn-Cu anomalies in 185m x 75m, 250 x 105m.
• Collpa Capilla, 5 Km NE of Cerro Chocos. Chalcedonic silica structures (pyrite, arsenopyrite, Fe-Mn-Ox) in an anomalous area of 350m x 250m.
![Page 143: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/143.jpg)
143
Chocos, Regional Trend - LARA Properties
![Page 144: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/144.jpg)
144
Chocos, Panoramic View
Panoramic view of Chocos vein system hosted in kaolinized volcanic andesitic. Note strong oxidation and leached zones.
![Page 145: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/145.jpg)
145
Chocos, North View
W EDome Andesitic
2.2 Km. aprox
Veinlets and veins Silica –sulfuros in limestone
Veins and old workings en
andesites
Veins 1 a 5 m. andesites
North View, mineralization Area
![Page 146: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/146.jpg)
146
Chocos, Vein Outcrops
Note small pit a long “C” vein and trenches to check vein lateral extension.
Sample N◦ 40775 reported 4.1 ppm Ag, 637 ppm Cu, 15.5 % Pb and 12.9 % Zn.
Sample N◦ 40925 reported 3.7 ppm Ag, 9 % Pb, 9 % Zn and 0.22 % Cu.
Trenches
Pit
![Page 147: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/147.jpg)
147
Chocos, Mineralyzed Sample, Vein Type
Brecciated vein structure strongly leached. Only relicts of galena and sphalerite sulfates andcarbonates of Pb and Zn associated to limonites.
Sample N◦ 40758 reported 7.7 ppm Ag, 315 ppm Cu, 1.79 % Pb and 0.39 % Zn.Sample N◦ 40759 reported 2.3 ppm Ag, 711 ppm Cu, 0.39 % Pb and 0.47 % Zn.
![Page 148: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/148.jpg)
148
Early Properties
Corimire
![Page 149: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/149.jpg)
149
Early Stage Properties
Indio
• Ica department; 3,100 hectares.
Corimire
• Ica department; 3,100 hectares.
![Page 150: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/150.jpg)
KIWANDA ALLIANCEPHOSPHATES
150
![Page 151: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/151.jpg)
151
PERU ACTIVITIES
![Page 152: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/152.jpg)
152
Prospective areas in Peru
Mantaro Project
Bayovar Mine
Bayovar East
SierraCentral
OcucajeThree prospectiveareas in Peru
![Page 153: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/153.jpg)
153
Bayovar East - Sedimentary belts
Calcareous Sediment
Continental Sediment Indifferentiated
Marine Sediment Indifferentiated
Not Defined Sediment
Silicoclastic Sediment
BAYOVARPeru
EcuadorProspectivearea
Guayaquil
![Page 154: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/154.jpg)
154
Bayovar Extensions - High Potential Target
• Remote sensing shows the Bayovar host sediments extend beyond existing exploration and mining licenses.
• The Kiwanda Allaince has filed 4300 hectares of exploration claims.
• Potential for large-scale strip mining operation like Vale SA has at Bayovar.
• Close to infrastructure, including the port of Guayaquil.
![Page 155: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/155.jpg)
155
Bayovar Next Step
• Environmental studies for Exploration Permits.
• Surface reconnaissance of Kiwanda´s claims.
• Elaborate a Drilling program to be executed early 2013.
![Page 156: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/156.jpg)
Ica Phosphate Exploration• The Ica phosphates are hosted in massive
(850m thick) marine sedimentary unit.
• Target was multiple, extensive, flat-lying
phosphate-rich beds in the upper part of the
Pisco Formation that might be suitable for
large-scale strip mining like at Bayovar.
![Page 157: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/157.jpg)
157
Protected Areas
Most of the prospective areas
lie within environmentally
protected areas, but there is a
central zone and some buffer
areas where claims were
taken.
Metallic claims
Non Metallic claims
Exploration area
![Page 158: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/158.jpg)
158
KIWANDA ALLIANCE SAMPLES
WGS84 Elevat. SampleType ofsample Bed
Sampled thicknes
(cm)
P2O5 Al2O3 Fe2O3 K2O Na2O MgO CaO
East North m a.s.l. # %
424,210 8,412,950 341 50901 Selected nodules Hs. debris ? 13.0 2.6 2.1 0.6 1.4 1.0 20.7
424,031 8,412,875 373 50902 Selected nodules Hs. Debris ? 16.6 1.3 1.2 0.4 1.6 0.7 27.4
424,012 8,412,850 380 50903 Selected nodules Hs. Debris ? 16.2 1.4 1.5 0.6 1.6 0.7 25.7
424,006 8,412,813 392 50904 Matrix + nodules Sd-stone 30 6.1 1.8 1.8 0.5 1.6 4.4 17.7
424,006 8,412,813 400 50905 Matrix + nodules Sd-stone 40 0.8 1.6 1.5 0.3 0.5 12.7 23.2
423,633 8,414,028 369 50906 Nodules Sd-stone 60 0.2 2.0 2.0 0.4 0.4 0.7 3.2
422,944 8,414,870 394 50907 Single nodule 15 1.7 2.7 10.5 0.4 0.7 2.0 4.6
423,713 8,413,826 36850908 Matrix Sd-stone 100 0.6 2.2 1.6 0.4 0.4 0.8 1.2
50909 Selected nodules Sd-stone ? 17.1 1.5 1.4 0.4 1.4 0.8 26.1
428,741 8,394,084 35550910 Selected nodules Sd-stone ? 0.5 3.1 8.1 0.3 0.5 3.9 13.5
50911 Matrix Sd-stone 80 0.2 3.8 3.5 0.4 0.7 1.3 5.6
428,708 8,394,072 36750912 Selected nodules Sd-stone ? 0.5 2.2 2.7 0.2 0.6 2.7 11.5
50913 Matrix Sd-stone 80 0.4 3.0 3.5 0.3 0.6 1.3 6.1
424,471 8,400,997 531 50914 Limonitic crust Sd-stone 20 0.2 0.9 0.9 0.2 0.2 13.7 19.6
424,499 8,400,942 548 50915 Matrix Sd-stone 60 1.5 2.5 2.8 0.4 2.1 1.8 4.8
424,477 8,400,975 536 50916 Single nodule 15 0.4 5.0 8.6 1.8 0.9 0.9 7.4
380,693 8,455,259 190 50917 Yellow nodules Sd-stone ? 3.4 2.0 3.0 0.3 0.4 12.6 24.5
380,890 8,455,855 168 50918 Surface sand S. debris ? 0.2 1.6 2.2 0.3 0.3 0.7 3.7
50919 Dupli. of: 50909 15.8 1.5 1.4 0.5 1.3 0.8 24.8
50920 Dupli. of: 50913 0.5 2.9 4.3 0.2 0.7 1.2 5.0
50921 Dupli. of: 50905 1.1 1.0 1.4 0.2 0.4 13.0 25.5
Field reconnaissance
reported good grades
![Page 159: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/159.jpg)
159
Kiwanda New Ica Properties
• Phosphates concentrated in crusts and nodule horizons of
<30cm, within a stratigraphic section that is >120m thick.
• The nodules and crusts are the only “hard” rock in the
sequence and the matrix is friable sandstones that are easy
to break down and separate.
• Kiwanda Alliance is taking some new exploration claims
(2300 has) over areas where paleo-channels have been
identified by remote sensing, where the gravels should
comprise just phosphate nodules.
• Target area also benefits from being at low elevation, with
minimal agricultural activity and good community relations.
![Page 160: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/160.jpg)
160
Ica – Next Spet
• Environmental studies for Exploration Permits.
• Surface reconnaissance of Kiwanda´s claims.
• Elaborate a Drilling program to be executed may - june 2013.
![Page 161: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/161.jpg)
Sierra Central - Peru
• Geology and mineralization analogous to
Stonegate Agricom’s Mantaro deposit located
60km west
• Kiwanda has the posibility to stak claims
covering phosphate–bearing Aramachay
Formation.
• Potential for Low-cost strip mining
• High elevation, minimal agricultural activity and
good community relations.
Mantaro
![Page 162: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/162.jpg)
162
Peru
• Environmental permits for exploration program for all Peruvian properties.
• Drilling programs for Bayovar East Property.
• Drilling programs for Ocucaje Property.
• Exploration Program for Sierra Central Target.
![Page 163: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/163.jpg)
163
KIWANDA CHILE S.A.
CHILE ACTIVITIESBAHIA INGLESA – DUE DILIGENCE
![Page 164: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/164.jpg)
• Drilling campaign in 80’s outlined ~87 Mt @ 8% P2O5.
• Exploited on a small scale (up to 10,000 tpa), sold as
milled phosphorite, @ 18% P2O5.
• Considered as a natural “green” fertilizer and not a
“dirty chemical” WPPA fertilizer.
• Pilot plant scale tests can be upgraded to 25% P2O5
by conventional flotation.
• Excellent road, energy and port infrastructure
encourages further exploration work at this area.
From where it starts: Chile - Bahía Inglesa
![Page 165: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/165.jpg)
The Kiwanda Alliance:
• 6,200 has. all over the Bahia Inglesa deposit
extension.
• Compañía Minera de Fosfatos Naturales Ltda.
(BIFOX) and SCM Bahía Inglesa , exploits a near-
surface bed ~1m in thickness, which contains
several discontinous horizons of hard phosphate
crust and nodules, grading 15 – 20% P2O5.
• The strip ratio is ~2:1, with the overburden
comprising unconsolidated sand and gravels.
• Current plant capacity ~10,000 tpa of milled
(95% < 100 # mesh), maxi-bagged, natural
phosphate rock.
Chile: Bahía Inglesa
![Page 166: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/166.jpg)
Mining area
Chile: Bahía Inglesa
![Page 167: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/167.jpg)
167
Introduction
A LOI between Kiwanda (Buyer)
and the Chilean companies
Compañía Minera de Fosfatos
Naturales Ltda. (BIFOX) + SCM
Bahía Inglesa (Sellers) was signed
on November 5, 2012. Said
document set up the starting point
to perform a due diligence on the
phosphate bearing mining
properties of Selaqueos 1/2000 at
“Bahía Inglesa”, near Copiapó, III
Region, Chile.
![Page 168: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/168.jpg)
168
Introduction
• Compañía Minera de Fosfatos Naturales Ltda. (BIFOX) + SCM Bahía Inglesa initiated
exploitation and marketing of natural ground phosphate rock in the early 90’. Current
capacity is of some 15 Ktpa of -100 # mesh, 16-18% P2O5, maxi bagged product.
• Product is traded under the brand name BIFOX in southern Chile.
• A phosphoric acid pilot plant was also set up in the 90’ but somehow it never worked
properly. No detailed information about this venture could be obtained yet from the
Sellers.
Current milling plant
![Page 169: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/169.jpg)
169
Phosphate deposit contained in the “Selaqueos 1/2000” tenements is owned by two
related companies: Compañía Minera de Fosfatos Naturales Ltda. (BIFOX) and
Sociedad Contractual Minera Bahía Inglesa (SCM B. Inglesa). Although there is no
intention to buy both companies it is necessary to be sure that the company exists and
that there are no major issues with it.
Due Diligence Process – General Corporate
![Page 170: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/170.jpg)
170
Compañía Minera de Fosfatos Naturales Ltda. (BIFOX)• It is a standard “Limited Liability Company” where owners are:
– Víctor Petermann F. (60%); – María Petermann F. (20%); – Patricio Campos P. (10%) – Tehmco (10%).
Sociedad Contractual Minera Bahía Inglesa (SCMBI)• It is a “Conventional Mining Company”, similar to a stock company, but
ruled by the mining code and targeting exploration and exploitation of mining properties. This type of company has some tax advantages.
• Owners are:– Victor Petermann (90)– Patricio Campos (10%).
Bahía Iglesa: Stakeholders
![Page 171: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/171.jpg)
171
Compañía Minera de Fosfatos Naturales Ltda. (BIFOX):• No accounting registry of environmental liabilities was found. Its accumulated debts with related companies
is of US$ 8.6 M. which will be difficult to draw back as the company shows a negative cash flow of some US$ 1 M. since the last 4 years.
Sociedad Contractual Minera Bahía Inglesa(SCMBI): • Neither financial activities nor incomes are registered since the last 4 years. Its accumulated debts with
related companies is of US$ 715,000.- The ownership of 280 mining tenements is not stated or considered in accounting books. No registry of environmental liabilities was found.
• The above statements rely on partial information as not all requests were answered.
• Both companies don’t publish Annual Balances which would allow a better understanding which in turn could command decisions.
• The Seller’s submitted partial information doesn’t allow a complete and reasonable analysis of the financial situation of both companies.
• However, it is hard to believe that the owners (mainly Mr. Petermann) are still injecting money in a company that after so many years it still produces losses.
• Further details are stated in Victor Sandovals’s accounting report, Annex 1.
Corporate Finance and Indebtedness
![Page 172: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/172.jpg)
172
• The tenements “Selaqueos 1/2000” were initially filed in 1984 by the Chilean state agencies CORFO and CChEN (Atomic Energy Commission). Selaqueos 1/2000 comprised originally 10,000 hectares.
• After several transcription between related companies, currently the ownership of Selaqueos tenements is:
– 1,385 has Sociedad Contractual Minera Bahía Inglesa
– 4,705 has Compañía Minera de Fosfatos Naturales Ltda. (BIFOX)
– 3,900 has Rejected and nowadays owned by 3d. parties
Mining Properties
![Page 173: 130802 Lara Corporate](https://reader038.vdocuments.site/reader038/viewer/2022102808/55cf9cb8550346d033aace75/html5/thumbnails/173.jpg)
Lara – De-Risking Exploration
People - management has depth (12 geologists), is highly experienced technically, commercially and locally.
Insiders are significant shareholders.
Finance – liquid assets (cash and shares) sufficient for 2012 work program and the company expects
additional cash from portfolio share sales and iron ore royalties.
Paper – only 26m shares outstanding, 28m fully diluted.
Partnerships – $73m potentially spent by partners over 4 to 5 years.
$2m potentially paid to Lara on the next 3 to 4 years.
Equity in some investment partners.
Commodities – diversified portfolio including Au, Ag, Cu, Ni, Fe, Zn, Pb, K, P and C (graphite) exposure.
Politics – active in multiple jurisdictions – Brazil, Peru, Chile and Colombia
Discovery – large diverse portfolio gives multiple chances of exploration success with limited downside risk.