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REM Avarone Metals, Inc.

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Share Name Share Symbol Market Type
Avarone Metals, Inc. TSXV:REM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Bacanora Provides Stage 2 Drilling Update for Fleur And El Sauz and Announces Construction of a Pilot Plant for Sonora Lithiu...

29/01/2014 10:30pm

Marketwired Canada


BACANORA MINERALS LTD. (TSX VENTURE:BCN) ("Bacanora" or the "Company") is
pleased to announce that its Stage 2 drilling program on the Fleur and El Sauz
concessions (the "Concessions") in northern Mexico continues and is nearing
completion. The Company has received analytical results from an additional 7
holes, in addition to the 6 holes previously announced, of the Stage 2 drill
program. Furthermore, Bacanora has commenced construction of a pilot plant to
refine the metallurgical treatment process for the overall Sonora Deposit.


Highlights:



--  Results of additional 7 new holes show lithium values averaging 1,683
    ppm (0.90% LCE)over 20.88 metres in the upper clay and 4,821 ppm Li
    (2.57% LCE) over 28.80 metres in Lower Clay, which are in line with
    expectations. 
--  An additional 5 holes drilled further along strike to the south-east
    have extended the deposit by 3 kilometres further than previously
    drilled, with analytical results pending. 
--  Surface grades have now been recorded up to 16,410 ppm (1.64 % Li or
    8.7% LCE). 
--  Construction of new bulk testing pilot plant has commenced. 
--  Drilling to be initiated on the new 94,815 hectare Megalit concession
    (Joint Venture #2 Lands).



The Concessions form the lands under Bacanora's first joint venture ("Joint
Venture #1") with Rare Earth Minerals PLC ("REM") (AIM:REM), pursuant to which
REM has a 30% interest (with Bacanora holding the remaining 70%).


The first 6 holes (ES-11 to ES-18) of the Stage 2 drilling program (the results
of which have been previously outlined in Bacanora's news release dated December
10, 2013), tested a strike length of 2,100 metres of the clay units by way of
infill and step out holes between the first 5 holes of Stage 1. Within the area
drilled, the average intercept length for the Upper Clay Unit was
33.69(1)metres(2) averaging 1,600 ppm Li (0.85% LCE(3)) and 25.73(4) metres(2)
averaging 4,375 ppm Li (2.33% LCE) for the Lower Clay Unit.


The additional 7 assayed holes (ES-17 to ES-23) and the 5 additional un-assayed
holes (ES-24 to ES-28) were drilled as infill and step-out holes to the south of
the first 6 Stage 2 holes (refer to Figure 1 herein). the strike length of the
clay units tested by drilling on the Joint Venture #1 Lands (as hereinafter
defined) is now 6.3 kilometres, for a total of approximately 10 km of drilled
continuous clay beds from the northern Ventana deposit to the southern portion
of the Sauz concession with both ends open to increase the potential strike
length. the last assayed 7 holes reported (ES-17 to ES-23) an average intercept
length for the Upper Clay Unit of 23.74 metres(2), with weighted average Li
content of intercepts averaging 1,031 ppm (0.55% LCE); for the Lower Clay Unit
the intercept length average was 15.7 metres(2), with weighted average Li
content of intercepts of 2,448 ppm (1.3%LCE).


The 5 un-assayed holes (ES-24 to ES-28) drilled southwards to the boundary of
the Megalit Concession have been completed and the Company is currently waiting
for assay results. for these holes the intercept length for the Upper Clay Unit
averages 18.3 metres(2); and for the Lower Clay Unit the intercept length
averages 21.54 metres(2).


In addition, several samples from drilling on the Fleur and El Sauz Concessions
have reported lithium values in excess of 10,000 ppm and surface samples on the
Ventana concession (which is 100% owned by Bacanora) have reported lithium
values of up to 16,410 ppm (1.64 % Li or 8.7% LCE). Several XRD analyses have
reported a variety of clays minerals, including polylithionite, hectorite,
montmorillonite, virgilite and lepidolite in various amounts.


Drilling will continue testing the southern extension of the clays onto the
Megalit claim, which is the subject of Bacanora's Joint Venture #2 (as
hereinafter defined) with REM (for further details, please refer to the
Company's press release dated December 5, 2013), and drilling of six shallow
holes is planned for the Ventana claim area in order to test the Lower Clay Unit
with the objective of upgrading the resource category. After completion of
drilling on Ventana, the drill rig will move back onto the Megalit claim and
continue drilling to the south.


Analysis of the drill core was performed by ALS Chemex, in Vancouver, B.C., a
member of ALS Global, an internationally recognized assay service provider. the
Company followed industry standard procedures for the work carried out during
the drill program, with a quality assurance/quality control (QA/QC) program.
Internal standard samples were inserted into each drill core sample sequence
sent to the laboratory for analysis. Bacanora detected no significant QA/QC
issues during review of the data.


One tonne bulk samples have been collected from the different clay units at both
Ventana and Sauz-Fleur areas and shipped to Bacanora's laboratory in Hermosillo
where a bulk testing pilot plant is under construction to produce lithium
carbonate from the roast-leach process. Prior to the roast-leaching process, the
clays are going to be upgraded by standard washing and screening processes.


Martin Vidal, President of Bacanora, commented;

"We are very pleased with the progress made in testing of what is now 6.3
kilometres of the clay units in the joint venture concessions and look forward
to further results from the balance of the Stage 2 drilling, as well as
additional positive metallurgical results regarding lithium recovery and lithium
carbonate precipitation from all of our Sonora Lithium Project."


The Company will continue to keep investors informed of drilling progress with
periodic announcements of results as they become available.


About the Sonora Lithium Project:

The Sonora Lithium Project consists of the La Ventana, La Ventana 1 and the San
Gabriel, Buenavista and Megalit concessions, which are owned 100% by Bacanora,
along with the contiguous El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1
concessions (the "Joint Venture #1 Lands") which are owned 70% by Bacanora and
30% by REM under Joint Venture #1. the Company has declared inferred resources
on each of the La Ventana concessions and the Joint Venture #1 Lands, in respect
of which reports have been prepared in accordance with National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("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 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 Joint Venture #1 Lands is open down dip to the east and to the south. for
further details concerning the Company's first agreement with REM and details of
Joint Venture #1, please refer to the Company's press release dated May 22,
2013. the Buenavista, Megalit and San Gabriel concessions are subject to a
Memorandum of Understanding ("Joint Venture #2") between Bacanora and REM - for
details on this agreement please refer the Company's press release dated
December 5, 2013.


Carl G. Verley, P.Geo. is the Qualified Person pursuant to NI 43-101 that has
reviewed and approved the technical contents of this news release.




( 1) Excludes ES-15 in which the Upper Clay Unit was cut off erosion.       
(2) True thickness is estimated to be 94% of intercept length based on      
assumed dip of the clay units of 20 degrees.                               
(3) LCE = lithium carbonate (Li2CO3) Equivalent: determined by multiplying  
Li value in percent by 5.324 to get an equivalent Li2CO3 value in percent.  
Use of LCE assumes 100% recovery and no process losses in conversion of Li  
to Li2CO3.                                                                  
(4) Excludes ES-12 where the Lower Clay Unit was faulted off.               



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 periodic updates of results and anticipated
completion date of Stage 2 drilling. 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.


To view the map accompanying this press release please click the following link:
http://media3.marketwire.com/docs/BacMap129.pdf


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bacanora Minerals Ltd.
Shane Shircliff
Chief Executive Officer
(306) 649-0602


Bacanora Minerals Ltd.
Martin Vidal
President
(+52 662) 210-0767
www.bacanoraminerals.com

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