Drilling results announced for Bacanora's Sonora lithium project

PUBLISHED: 24 May 2015 @ 00:53 | Comments (0) |

La Ventana Drilling Results, Sonora Lithium Project Mexico

Bacanora, the Canadian and London listed (TSX-V:BCN) and (LSE:BCN) lithium and borates company focussed on Mexico,is very pleased to announce assay results from a total of 2,946 metres of drilling in 22 holes recently completed on its wholly-owned La Ventana concession, as well as one hole drilled on the Fleur concession.

Both concessions are held as part of the Company’s Sonora Lithium Project in Mexico. The lithology from these drill results were included in the updated Mineral Resource Estimate announced on 14 May 2015.

Highlights:

· Intercepts of the Upper Clay range from 26.10 to 50.83 metres in length and those for the Lower Clay range from 12.98 to 23.57 metres on La Ventana
· Analyses received for 18 of 22 holes indicate that the lithium content of both Upper and Lower clays increases to the south on La Ventana, as well as maintaining grade and thickness down dip at depth. In particular:

o Weighted averages for lithium content in the Upper Clay Unit varies from 955 ppm Li (0.5% LCE) over 41.6 metres (hole LV-19) to 3,215 ppm Li (1.7% LCE) over 17.48 metres (hole LV-27)
o For the Lower Clay Unit, lithium content varies from 1,143 ppm Li (0.6% LCE) over 19.20 metres (hole LV-18) to 5,830 ppm Li (3.1% LCE) over 20.42 metres (LV-27)
o Individual 1.5 metre long samples of clay range up to 10,000 ppm Li (5.32% LCE)

· The single hole drilled on the Fleur concession intersected 7.16 metres of the Upper Clay unit, which averaged 3,107 ppm Li (1.7% LCE) and 25.30 metres of the Lower Clay, which averaged 4,242 ppm Li (2.3% LCE).

Peter Secker, CEO of Bacanora, commented, “These assay results have confirmed the recently published MRE for the project, with an estimated 1.12 million tonnes LCE contained in 95 Mt of clay, at Li grade of 2,200 ppm within indicated resource and a further 6.3 Mt LCE contained in 500 Mt of clay at a Li grade of 2,300 ppm within inferred resource. The assays are consistent with our understanding that the Sonora Lithium Project is a high grade and scalable asset which we hope to be able to service increasing global demand for lithium. Over the coming months, we will continue to progress the pre-feasibility study for this exciting asset and look forward to further informing the market as additional updates become available.”

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