Lara to Acquire a 70% Interest in the Mantaro Phosphate Project in Peru
The Mantaro Project hosts a sedimentary phosphate deposit, where previous exploration, including trenching, drilling and technical studies, identified an extensive zone of phosphate mineralization that is amenable to beneficiation and production of phosphate rock concentrate.
- The Mantaro Project hosts a sedimentary phosphate deposit, where previous exploration, including trenching, drilling and technical studies, identified an extensive zone of phosphate mineralization that is amenable to beneficiation and production of phosphate rock concentrate.
- Lara intermediated the sale of the project to Sprott Resource Corp., in 2008 and, along with the vendors, retained a royalty interest.
- Stonegate failed to adequately communicate the benefits of the project and was blocked from conducting any further work by the local communities.
- Stonegate was itself acquired by Itafos Inc. in 2017, which elected to return the project to Lara and its two co-owners in June 2021, with each holding an initial interest of 33.33%.