CALGARY, ALBERTA–(Marketwire – Sept. 5, 2012) – BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the “Company” or “Bacanora”) is pleased to announce the completion and filing of an NI 43-101 Technical Report in respect of its Sonora Lithium Project in Sonora, Mexico with a total inferred resource of 43,324,000 tonnes bearing an average grade of 3,005 Li ppm or 1.6% Lithium Carbonate Equivalent (“LCE”) for 712,000 tonnes of LCE(1).

Paul Conroy, President and CEO of Bacanora, states: “We are extremely pleased with the initial lithium resource estimate and look forward to continuing work in the coming months to further upgrade the resource with a view towards demonstrating the commercial viability of the deposit.”

The Technical Report has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is entitled, “Report on the 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. Mrs. Ellen MacNeill, P. Geo., and Mr. Martin F. Vidal, Lic. Geo., are co-authors. The Technical Report has been filed on SEDAR and is also available for download on the Company’s website.

The Sonora Lithium Project (the “Project”) consists of 4 separate mineral concessions covering 4,049 ha in central Sonora State, Mexico. The concessions are held by Bacanora’s wholly-owned Mexican subsidiary: Minera Sonora Borax S.A. de C.V. The Project is situated 120 km northeast of Hermosillo and approximately 170 km south of the USA – Mexico border and is road accessible (Figure 1).

As previously reported, drilling by Bacanora in 2010 and 2011 on the La Ventana concession in the Project area located two lithium-bearing clay units (upper and lower) that average 41 and 22 m in thickness, respectively, and that are separated by an ignimbrite unit varying from 1 to 45 m in thickness. The sedimentary-volcanic sequence dips at approximately 20° to the east and crops out along 3.5 km of strike length. The exposures are in erosional windows looking through overlying basalt that covers much of the area. Rock sampling on the El Sauz concession by Bacanora has also resulted in the location of lithium-bearing clay units with strike length of up to 2.2 km.

The drilling results from La Ventana have been used to estimate an inferred resource for lithium. The estimate of inferred resources for the upper clay unit is 22,642,000 tonnes averaging 2,632 ppm Li (1.3% LCE). For the lower clay unit the inferred resource is estimated at 20,682,000 tonnes averaging 4,103 ppm Li (2.0% LCE). The inferred resource for both the upper and lower clay units is estimated to total 43,324,000 tonnes averaging 3,005 ppm Li (1.6% LCE) or 712,000 tonnes LCE (see footnote 1 and Table 1). Both the upper and lower clay units are open down-dip; the lower clay unit has untested resource potential up-dip.

(1) LCE is calculated by multiplying the Li value, expressed in percent, by 5.324 to get LCE in percent, then multiplying the total estimated tonnage by LCE % to get tonnes of LCE.

Investors are cautioned that the resource estimate does not mean or imply that an economic lithium deposit exists at the La Ventana concession. Further testing will need to be undertaken to confirm economic feasibility.

Table 1. Inferred Lithium Resource Estimate Summary – La Ventana Concession

Average Grade
UnitTonnesLi ppmLCE %LCE tonnes(1)
Upper Clay22,642,0002,6321.3292,000
Lower Clay20,682,0004,1032.0420,000
Upper & Lower Clay43,324,0003,0051.6712,000


  1. LCE is calculated by multiplying the Li value, expressed in percent, by 5.324 to get LCE in percent, then multiplying the total estimated tonnage by LCE % to get tonnes of LCE

Based on the drill results and the lithium showings on the other concessions in the Project area, the Qualified Person has concluded that a significant lithium resource exists in the Project area and that an exploration program designed to upgrade the resource category and to demonstrate that the clay units are amenable to a commercial lithium recovery process is recommended. The Qualified Person recommends that work should include detailed topographic control surveys, detailed geological mapping, bulk sampling of clay exposures on La Ventana in order to obtain sufficient material for beneficiation and recovery process tests, as well as in-fill drilling to up-grade the resource. The estimated cost of this work is US800,000.

Carl G. Verley, P.Geo. is the Qualified Person pursuant to NI 43-101 who was responsible for the Technical Report and review of the technical contents of this news release.

Figure 1.Sonora Lithium Project Location Map: http://media3.marketwire.com/docs/bcn_map1.jpg

Reader Advisory

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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 use of the net proceeds of the offering. 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: general economic conditions in Canada, the United States 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.

Contact Information

  • Bacanora Minerals Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (306) 649-0600
    (306) 649-0601 (FAX)


Our company BYLSA DRILLING provides drilling services in a variety of environments, ranging from typical exploration sites to extreme topographic conditions, always with the highest quality and safety standards.