November 30, 2010 09:30 ET

Bacanora Announces Initiation of Drilling Program on Lithium Properties

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2010) - BACANORA MINERALS LTD. (the "Corporation" or "Bacanora") (TSX VENTURE:BCN) is pleased to announce the initiation of a drilling campaign in the recently acquired lithium project of "La Ventana", located in eastern Sonora, Mexico. This target has been divided into three easily handled segments of 1,000 x 300 metres and the drilling campaign is designed to evaluate at depth the southernmost block, which from our previous results reported values ranging between 1,700 to 5,500 ppm of Li. The conversion into Li2CO3 (lithium carbonate) is under study and requires additional testing. The economics of the required process has not been established. The lithium bearing clays are contained in beds in excess of 20 metres thick and have been traced for over 3,000 metres. Other elements such as cesium and boron occurring within the clays have returned anomalous values. This initial drilling campaign consists of roughly 1,500 metres in 18 NQ-core drillholes (200 by 100 centres).

Along with the drilling, exploration activities (mapping and systematic sampling) continue in other lithium target areas such as El Sauz, Buenavista and San Gabriel, which are owned 100% by Bacanora. Results of the drilling and the exploration activities will be presented upon completion of this drilling program.

Paul Conroy, President and CEO, states: "We are very pleased to move directly into the initial drilling campaign on the Ventana target, where samples collected to date have indicated very encouraging prospects."

Martin Vidal, Professional Geoscientist, is the Qualified Person for this news release and has reviewed and approved its contents.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are 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 projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither 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 the release.

Contact Information

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