In a partnership with Kiwanda Group and Dr. Carlos Caceres, Lara Exploration has declared that it will begin operations developing phosphate rock projects in Columbia.
Almost 16,000 hectares of ground in the Boyacá District are expected to be focused on, with exploration licenses having already been filed. Working together with Caceres, a new company will be formed under the name Fosfatos de Iza S.A.S. This subsidiary firm will hold the mineral rights and more importantly, manage activities for Lara Exploration in the country. The firm expects to hire a team of technical, legal, financial and community relations personnel to handle the reviewing, acquiring and exploring of suitable phosphate projects and prospects.
According to samples collected by Lara Exploration, three different formations in the Boyacá District have a phosphate thickness ranging from 2.5 to 10 feet. The basal unit of the Arenisca Dura Formation had phosphate grades ranging from 0.94-percent to 34.1-percent P2O5, while the upper phosphorite unit of the Arenisca Dura Formation had phosphate grades ranging from 1.025-percent to 15.4-percent P2O5. Similarly, the basal unit of the Labor Tierna Formation had a phosphate grade of 9.46-percent and 15.05-percent P2O5, while the upper unit of the formation ranged from 1.35-percent and 28.9-percent P2O5.
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