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Global Battery Metals Announces Minsur's Termination of its Option to Acquire the Lara Copper Project, Peru
GBML · Price
Executive Summary
- Minsur S.A. has notified Global Battery Metals Ltd. that it will relinquish its option to acquire the Company’s 55%‑owned Lara Copper Project in southern Peru.
- The Lara Copper Project remains under GBML’s control; management is evaluating next steps with partners.
- To date, approximately 9,850 m of diamond and reverse‑circulation drilling have delineated a mineralized footprint of ~2 km × 0.5–0.8 km.
Key Details
- Option Relinquishment: Minsur S.A. will not exercise its option under the July 2020 Option and Royalty Agreement with Lara Exploration Ltd. (LRA) for the Lara Copper Project.
- Project Description: The Lara Copper Project hosts a partially defined copper‑molybdenum porphyry system in the Laramate Province, Ayacucho Department, Peru (~40 km inland from Palpa on the Pan‑American Highway).
- Exploration Status: 9,850 m of drilling completed (diamond and reverse‑circulation), outlining a mineralized zone ~2,000 m E‑W by 500–800 m N‑S.
- Company Interest: GBML retains its 55% ownership stake in the Lara Copper Project; the remaining 45% is held by partners.
- Next Steps: Management is working with project partners to determine future development plans for the Lara property.
- Additional Information: Further details on the Lara Project are available at https://gbml.ca/projects/lara-property.
Notable Quotes
(No direct quotes were provided in the release.)