25 Jan 2016 07:01
Bacanora Minerals Ltd
("Bacanora" or the "Company")
Appointment of Joint Broker
BACANORA MINERALS LTD. ("Bacanora" or the "Company"), the London and Canadian listed (AIM: BCN and TSX-V: BCN) lithium and borates company focussed on Mexico, is pleased to announce the appointment of Stifel Nicolaus Europe Ltd as its joint broker with immediate effect. HD Capital Partners Ltd will remain as joint broker to the Company.
**ENDS**
For further information please visit www.bacanoraminerals.com or contact:
Bacanora Minerals Ltd | Colin Orr-Ewing - Non Executive Chairman Peter Secker - CEO | info@bacanoraminerals.com
|
Cairn Financial Advisers LLP, Nomad | Sandy Jamieson / Liam Murray
| +44 (0) 20 7148 7900 |
HD Capital Partners Ltd, Joint Broker | Philip Haydn-Slater / Paul Dudley
| +44 (0) 20 3551 4870 |
Stifel Nicolaus Europe Ltd, Joint Broker | Michael Shaw / Alex Wood | +44 (0) 20 77107600 |
St Brides Partners, Financial PR Adviser | Hugo de Salis / Frank Buhagiar / Elisabeth Cowell | +44 (0) 20 7236 1177 |
ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer (TSX-V: BCN and AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company's operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are:
· The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 5.0 Mt LCE(1) contained in 364 Mt of clay at a Li grade of 2,600 ppm and an Inferred Mineral Resource of 3.9 Mt LCE contained in 355 Mt of clay at a Li grade of 2,000 ppm.
· The Magdalena Borate Project, covering 16,503 hectares in Sonora state, Mexico, where the Company's main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 Mt of B2O3, at an eight per cent. cut-off grade. The Company has completed a number of measures to determine the geological and commercial potential of the project and is undertaking a prefeasibility exercise to determine the economic benefit of developing the mine and constructing a processing plant on site in order to become a supplier of boric acid.
(1) LCE = lithium carbonate (Li2CO3) equivalent; determined by multiplying Li value in percent by 5.324 to get an equivalent Li2CO3 value in per cent. Use of LCE is to provide data comparable with industry reports and assumes complete conversion of lithium in clays with no recovery or process losses.