9 Mar 2016 07:00
9 March 2016
Bacanora Minerals Ltd.
Company Update
BACANORA MINERALS LTD. ("Bacanora" or the "Company"), the London and Canadian listed (AIM and TSX-V: BCN) lithium development company focused on Mexico, is pleased to announce that it has updated its Corporate Presentation, based on the recently announced Sonora Lithium Project Pre-Feasibility Study. The presentation is now available to be downloaded from the Company's website: www.bacanoraminerals.com
In addition, the Company announces that Stifel Nicolaus Europe Ltd has now been appointed as sole broker to the Company.
For further information, please 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 |
Stifel Nicolaus Europe Ltd, 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 and AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on the development of 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 NI 43-101) of 5.0 Mt LCE1 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 Company has recently completed an NI-43-101 Pre-Feasibility Study for the development of a 2 stage 35,000tpa battery grade lithium carbonate operation that has an estimated Stage 1 capital cost of US$240M and projected operating costs of US$2,700/t Li2CO3. The Company is currently undertaking product sample development at its Pilot Plant in Hermosillo and is scheduling to complete an NI-43-101 Feasibility Study during Q1, 2017.
1LCE = 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.