Bacanora Minerals Ltd.
TSX VENTURE : BCN

June 27, 2011 13:54 ET

Bacanora Announces Filing of NI 43-101 Report on El Cajon Borate Deposit

CALGARY, ALBERTA--(Marketwire - June 27, 2011) -BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the "Corporation" or "Bacanora") is pleased to announce the completion and filing of a Technical Report in respect of its El Cajon borate deposit in Sonora, Mexico. 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, Preliminary Resource Estimate for the El Cajon Borate Deposit. Magdalena Basin Project, Sonora, Mexico. 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 Corporation. Mr. Rodrigo Calles Montijo, Lic. Eng. of Servicios Geologicos IMEx SC 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 Corporation's website.

El Cajon borate deposit consists of three gently dipping colemanite-bearing horizons (units A, B & C) hosted in Miocene age sediments. Diamond drilling has allowed an initial borate resource to be estimated for Cajon. The estimate includes an inferred resource for unit A of 7.3 million tonnes averaging 9.3% B2O3 and indicated resource for Units B and C totaling 11.1 million tonnes averaging 9.9% B2O3 using a cut off of 8% B2O3. The average thickness for each bed making up the 3 units ranges from 4.2 to 9.8 metres. The foregoing results are consistent with the maiden estimate announced by Bacanora via press release on February 9, 2011. Results of exploration on El Cajon are sufficiently encouraging to warrant further exploration as well as development work.

Recommendations in the Technical Report include:

  1. Completion of preliminary metallurgical testing on borate mineralization from Cajon deposit.
  1. In-fill diamond drilling of the Cajon deposit in order to upgrade and increase the resource estimate.
  1. Bulk sampling and detailed metallurgical testing of borate mineralization from Cajon deposit.

The estimated cost of the recommended program is $US1,000,000. Bacanora is currently in the process of implementing the foregoing recommendations.

El Cajon is one of three main borate zones that have been located in the Magdalena Basin project area; the other two being the Bellota and Pozo Nuevo deposits. Other exploration targets include the recently discovered El Represo colemanite prospect and the Escuadra occurrence. The Represo prospect is a new colemanite discovery that was recently made by Bacanora during its 2010 drilling campaign. Bacanora intends to conduct further exploration work on the other targets during 2011 in order to increase its borate resources in the Magdalena Basin.

Borates are the primary source and feed stock for commercial boron compounds. Boron compounds have a number of unique, highly technical, energy saving uses for which substitution with other compounds is difficult. Some of the applications for borates include:

  • Glasses, heat-resistant (including fiberglass insulation & textile). Boron also reduces the energy used to produce glass.
  • Detergents, soaps & personal care products;
  • Ceramics, glazes;
  • Agricultural micronutrients;
  • Other increasingly important uses include: control rod alloys in nuclear reactors to bleed off excess energy.

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.

Reader Advisory

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Contact Information

  • Bacanora Minerals Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (403) 237-6122
    (403) 237-6144 (FAX)