Author: Josue Gomez

“This marks another important milestone in the development of the La Yaqui project. With ongoing exploration success, La Yaqui is growing into one of the most important deposits within the Mulatos District. Combined with its higher grades and recoveries, we expect La Yaqui will be a significant source of low cost production at Mulatos for many years to come,” said John A. McCluskey, President and Chief Executive Officer.

· Battery grade lithium carbonate samples from pilot plant have been distributed to Japan for preliminary appraisal and testing by end-users

· Completion of 4,000-metre infill drilling programme on the Sonora project to upgrade a portion of the current Indicated Mineral Resource to a Measured category

· Updated resource model anticipated to be completed in Q4 2016 after which mine planning and open pit design will commence

· BFS on track to be delivered in late Q1 2017

Bacanora CEO Peter Secker said, “The Sonora Lithium Project has demonstrated its potential to deliver high grade lithium carbonate to the market with operating costs which could position it very favorably in comparison to its peers. The team continues to prove that it has the lithium operations and mine development expertise to attain key milestones and incrementally build project and shareholder value, something recognised by the Company’s institutional backing.”

“The level of project detail required for the permits is not dissimilar from what will be ultimately utilized in our Pre-Feasibility Study,” said Darren Koningen, President at Minera Alamos. “Once these applications are submitted, we can turn our attention to the final plan optimization and completion of that study. In tandem, we will initiate the refurbishment and staging of the plant in Mexico and begin an exploration program focused on expanding our existing resource base”.

Managing Director Will Dix commented “Expanding the platform for drilling has given us the ability to drill further down dip and obtain better intersection angles into the mineralisation. Continuing to intersect massive sulphides down dip and now identifying new mineralisation up-dip above level 7 re-enforces the potential for accumulating resource tonnes in the mine area. We will continue to drill aggressively to build as much of a mineral inventory during the remainder of 2016.”