Location

Rare Earth Minerals said Bacanora Minerals Ltd has issued an update on the Sonora Lithium Project. REM has an 11.90% shareholding in Bacanora, its JV partner in the Sonora Lithium Project in Mexico.

This interest, when aggregated with REM's 30% direct interest in the Fleur El-Sauz Lithium Joint Venture and the 30% direct interest in the Megalit Joint Venture, results in a total economic interest in the Fleur El-Sauz and Megalit Joint Ventures of approximately 38.3%.

David Lenigas, the Company's Chairman commented:

"This update on the Sonora Lithium project further shows the excellent progress that is being made toward the commercialisation of these assets.

"The true extent and size of this Lithium province is becoming more apparent, which along with the metallurgy, which confirmed that better than battery grade can be achieved, and the progression of the plant design for up to a 50,000 tonnes per annum Lithium Carbonate, underpins our belief that the Sonora Lithium Project has the potential to be the a globally significant Lithium producer."

Highlights from the Bacanora release include:

· Plant design is progressing well for a production facility with a capacity of up to 50,000 tonne per annum of Lithium Carbonate.

· Lithium bearing clay units on the Buenavista Concession (part of the Megalit joint venture) have been confirmed to be exposed at surface for 6 km along strike and outcrop over 1.25 km across dip and have returned surface samples of up 1,700 ppm Lithium.

· Detailed drill programme being planned for the Sonora Lithium Project to delineate the open pit design.

· Drilling results from the Megalit Joint Venture have intersected lithium bearing clay units 10 km south of the 2.01 million tonne indicated lithium mineral resource on the Fleur El-Sauz joint venture.

· A drill programme is being designed to expand to expand the current Lithium resources in to the Megalit Joint Venture.

SHARE THIS POST?

Facebook
Twitter
LinkedIn
WhatsApp
Telegram
Email

• Fast. PhotoSat solutions are ideal for large, inaccessible, or remote sites. With no permits needed, we can efficiently produce engineering-grade surveys and alteration mineral maps over hundreds or even thousands of square kilometers. No site access is required, and all data processing is completed without involvement from ground crews.
• Global. Satellites are not restricted by borders, permits, or ground logistics. We have completed more than 1,300 projects in over 75 countries, with exacting standards of accuracy and consistency.
• Reliable. Each PhotoSat project is produced from satellite photos, with each photo covering hundreds of square kilometers. As a result, our data sets are consistent, time-stamped and robust, with high data point density.
• Innovative. PhotoSat is a leader in satellite-based surveying technology and alteration mineral mapping. We use proprietary deep learning algorithms in our data processing. Our unique technology produces outstanding results that are trusted by mining companies and engineering consultants around the world.