Lara Exploration Limited has announced results of ongoing mapping and geochemical surveys by partner Avanco Resources Limited that have extended known anomalies and defined new ones on the company's Conceicao Nickel Project, in northern Brazil.

Avanco has to date collected 120 rock and 2,639 soil samples over six target areas, with further work being directed to the VTEM4, Mineiro and Pyroxenite anomalies that are considered the most promising. At the VTEM4 Target a new sulphide occurrence was detected to the SE, which increases the length of the known sulphide mineralization to 700 meters. Eight rock chip samples were collected in this area, and from those, 7 were highly anomalous for Ni, Cu, and Pd, with peak results of 0.26% Ni, 0.12% Cu, 388ppb Pd respectively.

The soil anomaly at Mineiro was extended north and south, confirming a 2.8 kilometers long anomalous trend, remaining open to the south. Mapping shows clearly the existence of fractionation with the elongate magmatic intrusion coincident with the soil anomaly (gabbros overlying pyroxinites, and local peridotites).

At the Pyroxinite Target new soil lines were completed, covering the eastern edge of the prospect where positive results were shown in previous work.

Avanco can earn a 75% interest in any of the licenses comprising the 39,772 hectare Conceicao Nickel Sulphide Project by completing a minimum program of surface sampling, geophysics and 1,500 meters of drilling before August 2012. Avanco must then also complete sufficient exploration work within 36 months to generate a JORC (Australasian Joint Ore Reserves Committee) compliant resource with sufficient drill data and metallurgical test work necessary for the Brazilian Department of Mines to approve the Final Exploration Report.