Lara Exploration Ltd. provided an update on work at the Picha Copper-Silver Project, located in the Moquegua and Puno Departments of southern Peru, where Lara holds a 2% NSR on any precious metals produced and a 1% NSR on base metals on the core licenses totalling 3,800 hectares. The Picha mineral rights are held by Australian-listed explorer Valor Resources which has been actively exploring the property since 2021, completing detailed geological mapping, geophysics (IP/Resistivity and Magnetics) and geochemical sampling program over the core properties acquired from Lara. Valor has applied for a 40 platform, 120-hole (three per platform) drilling permit and expects to be able to begin drill testing the main targets in 2023, with a 5,000m maiden program planned to test the Cobremani, Cumbre Coya, Maricate and Fundicion targets.

The core of the Picha project lies approximately 17km ENE of the Buenaventura San Gabriel Au- Cu-Ag development project, which reports proven and probable reserves of 1.94Moz of gold. Other significant copper and precious metal projects in the district include Berenguela, Trapiche, Antilla and Pinaya.