Bacanora Announces Filing of Technical Report on New Alakli Metal & Alkali Earth Metal Inferred Resource Declared for El Sauz...
09 Enero 2014 - 4:31PM
Marketwired
Bacanora Announces Filing of Technical Report on New Alakli Metal
and Alkali Earth Metal Inferred Resource Declared for El Sauz and
Fleur Concessions
CALGARY, ALBERTA--(Marketwired - Jan 9, 2014) - BACANORA
MINERALS LTD. (TSX-VENTURE:BCN) ("Bacanora" or the "Company") is
announcing the filing of a Technical Report ("Report") in respect
of its El Sauz and Fleur concessions ("Concessions") under joint
venture with Rare Earth Minerals PLC ("REM") that form part of the
Sonora Lithium Project in northern Mexico. The Report has been
prepared in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101")
and is entitled, Initial Estimate of Inferred Resources for
Alkali Metals and Alkali Earth Metals - El Sauz & Fleur
Concesions - Sonora Lithium Project. The lead author of the
Technical Report is Carl G. Verley, P.Geo., who is a "qualified
person" within the meaning of NI 43-101 and is independent of the
Company. The Report has been filed on SEDAR and is also available
for download on the Company's website.
The Report summarizes a new alkali metal and alkali earth metal
inferred resource (as initially announced by the Company by press
release on November 25, 2013) based on analytical results obtained
from pulps of core samples previously analysed in connection with
the Company's lithium (Li) drilling programs, which were
re-analysed by ALS Global, an internationally recognized and ISO
accredited laboratory, using method ME-MS81(1), in order to achieve
better definition of alkali values above detection limits of the
previous analytical method that was used in connection with Li
analyses (ME-MS41(2)).
The ranges of values across the clay units for selected
elements, magnesium (Mg), potassium (K), rubidium (Rb), strontium
(Sr) and cesium (Cs) are summarized in Table 1 below.
Table 1. Ranges of analyses for selected alkalis on the
Concessions |
|
Li ppm |
K % |
Rb ppm |
Cs ppm |
Mg % |
Sr ppm |
Upper Clay |
41 - 6,200 |
0.12 - 1.75 |
23 - 480 |
34 - 1,805 |
0.13 - 5.21 |
128 - 8,380 |
Lower Clay |
38 - Greater Than 10,000 |
0.12 - 4.45 |
14 - 880 |
68 - 3,000 |
0.16 - 5.52 |
31 - 6,820 |
The lower clay unit shows significant enrichment in alkali
metals in comparison to the upper clay unit.
Based on the intervals used to estimate inferred lithium
resources for the Concessions (which have been declared in
accordance with NI 43-101 (for a discussion of such resources,
please refer to the Company's news release dated August 28, 2013))
at varying Li cutoffs, new inferred resources for selected alkalis
have been estimated for those same intervals based on the Li
cut-offs. These new inferred resources for selected alkalis are
tabulated below (Table 2). Further testing will be necessary to
confirm economic feasibility of recovering these elements as either
co-products or by-products in a potential future mining and
processing operation. The Company plans to initiate further
metallurgical testing to determine if these elements are
recoverable.). Investors are cautioned that the resource estimate
does not mean or imply that an economic lithium deposit exists on
the Concessions. Mineral resources are not mineral reserves as they
do not have demonstrated economic viability. Further testing will
need to be undertaken to confirm economic feasibility.
Table 2. Summary of New Resources for selected alkalis
on the Concessions. |
|
Grade |
Cut-off (ppm Li) |
True1 Thickness (m) |
Tonnage2 |
Li ppm |
K % |
Rb ppm |
Cs ppm |
Mg % |
Sr ppm |
Upper Clay |
1,000 |
18.30 |
57,700,000 |
1,381 |
0.59 |
157 |
473 |
1.67 |
1,274 |
2,000 |
6.80 |
20,060,000 |
2,748 |
1.07 |
267 |
537 |
2.16 |
1,136 |
3,000 |
8.10 |
9,846,000 |
3,398 |
1.17 |
301 |
560 |
2.06 |
1,375 |
Lower Clay |
1,000 |
27.60 |
96,103,000 |
2,526 |
1.10 |
263 |
702 |
1.77 |
983 |
2,000 |
14.70 |
68,211,000 |
3,278 |
1.34 |
331 |
807 |
2.22 |
1,007 |
3,000 |
24.00 |
44,083,000 |
4,030 |
1.65 |
379 |
886 |
2.18 |
1,092 |
Combined Clay Units |
1,000 |
45.90 |
153,806,000 |
2,052 |
0.91 |
224 |
617 |
1.73 |
1,092 |
2,000 |
21.50 |
88,271,000 |
3,163 |
1.28 |
317 |
749 |
2.21 |
1,036 |
3,000 |
32.10 |
53,929,000 |
3,922 |
1.56 |
364 |
822 |
2.16 |
1,148 |
1 True thickness
is estimated to be 94% of drill intercepts. |
2 It should be
noted that figures expressed above are gross figures. The
Concessions are the subject of a joint venture between the Company
and REM, pursuant to which REM has an option to earn up to a 49.9%
interest. To date, REM has earned a 30% interest. |
About the Sonora Lithium
Project:
The Sonora Lithium Project
consists of the La Ventana, La Ventana 1 and the San Gabriel
concessions, which are owned 100% by Bacanora, along with the
contiguous El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1
concessions, which are owned 70% by Bacanora and 30% by REM. The
Company has declared inferred resources on each of the La Ventana
concessions and the Bacanora / REM Joint Venture Lands, in respect
of which reports have been prepared in accordance with NI 43-101
(please refer to the Company's SEDAR filings for copies of these
reports and related press releases). Inferred resources have been
estimated for the La Ventana Lithium Deposit totaling 60 million
tonnes averaging 3,000 ppm Li (equivalent to 1.6% lithium carbonate
equivalent(3) assuming 100% recovery and no process losses).
Inferred resources for the El Sauz and Fleur concessions total
88,271,000 tonnes averaging 3,163 ppm Li at a 2,000 ppm cut-off
(1.68% lithium carbonate equivalent assuming 100% recovery and no
process losses). The resource on the Bacanora/REM Joint Venture
Lands is open down dip to the east and to the south. For further
details concerning the Company's agreement with REM and details of
the joint venture pertaining to the Concessions, please refer to
the Company's press release dated May 22, 2013.
Carl G. Verley, P.Geo. is the Qualified Person pursuant to NI
43-101 with responsibility for the Report and has reviewed and
approved the technical contents of this news release.
Reader
Advisory
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. In particular, forward-looking information
in this press release includes, but is not limited to, the
potential for economic alkali resources to be developed on the
Concessions. Although we believe that the expectations reflected in
the forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. We
cannot guarantee future results, performance or achievements.
Consequently, there is no representation that the actual results
achieved will be the same, in whole or in part, as those set out in
the forward-looking information.
Forward-looking information is based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
commodity price volatility; general economic conditions in Canada,
the United States, Mexico and globally; industry conditions,
governmental regulation, including environmental regulation;
unanticipated operating events or performance; failure to obtain
industry partner and other third party consents and approvals, if
and when required; the availability of capital on acceptable terms;
the need to obtain required approvals from regulatory authorities;
stock market volatility; competition for, among other things,
capital, skilled personnel and supplies; changes in tax laws; and
the other risk factors disclosed under our profile on SEDAR at
www.sedar.com. Readers are cautioned that this list of risk factors
should not be construed as exhaustive.
The forward-looking information contained in this news
release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward-looking information
to conform such information to actual results or to changes in our
expectations except as otherwise required by applicable securities
legislation. Readers are cautioned not to place undue reliance on
forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
(1) ME-MS81: analytical method
consists of aqua regia digestion of a 1 gram aliquot of prepared
sample pulp. The resulting solution is analysed using a combination
of ICP-AES and ICP-MS instruments.
(2) ME-MS41: analytical method
consisting of lithium borate fusion of a 1 gram aliquot of prepared
sample pulp followed by acid digestion. The resulting solution is
analysed by ICP-MS instrumentation.
(3) LCE = lithium carbonate equivalent (Li2CO3): determined by
multiplying Li value in percent by 5.324 to get an equivalent
Li2CO3value in percent. Use of LCE is to provide data comparable
with industry standards.
Bacanora Minerals Ltd.Shane ShircliffChief Executive
Officer(306) 649-0602Bacanora Minerals Ltd.Martin
VidalPresident(+52 662) 210-0767www.bacanoraminerals.com
Bacanora Minerals Ltd. (TSXV:BCN)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Bacanora Minerals Ltd. (TSXV:BCN)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024