Lara Exploration Ltd. (TSX-V: LRA), junior miner exploring the Grace gold project (Ayacucho), in joint venture (JV) with Minera Apumayo S.A.C. (Aruntani Group), informed that it is looking for another JV partner because the Peruvian company has not formalized its wish to remain in the project
“The option of Apumayo to acquire Grace, from Lara, expired in December 2017 and, despite its expressed desire to extend the contract, it has not made any financial commitment and still owes 2017 payments”, it said.
Apumayo completed 88 holes of which 34 found anomalous gold mineralization associated with high-sulphidation epithermal alteration. Grace borders the Apumayo mine, which has produced over 150,000 ounces of gold.