Bacanora Minerals Ltd.
TSX VENTURE : BCN

September 20, 2011 11:00 ET

Bacanora Completes Second Round of Drilling on Cajon Borate Deposit and Begins Second Round of Drilling at Ventana Lithium Target

CALGARY, ALBERTA--(Marketwire - Sept. 20, 2011) - BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the "Company" or "Bacanora") is pleased to announce the completion of the second round of in-fill drilling at the Cajon Borate Deposit in Sonora, Mexico, which is being completed with the objective of providing sufficient drilling data to support an increase in the deposit's tonnage and to convert existing colemanite resources into reserve classifications.

Colemanite is a boron mineral that has industrial applications in glass, ceramics and agriculture and is also used to produce boric acid, a compound used in a number of industrial applications. In general, borate prices have been increasing, with some prices up 20% this year in some grades, and forecasted increases of 7-10% more for the remainder of the year.

Bacanora has received numerous inquiries from potential customers seeking colemanite and boric acid for their plants. The Company maintains permanent contact with these customers, informing them on a regular basis of our progress and approximate timing for the start of mining operations.

Drilling at the Cajon Borate deposit has consisted of 28,421 ft (8,662.7 metres) in 57 NQ-HQ-core diamond drill holes, along with a total of 2,616 samples.

All drill holes in this target were surveyed with an error of +/- 0.008 metres, using a total station GPS, double-frequency trimble R6. This data, along with all information generated from the drilling, logging, sampling and assays, will be sent to IMEX S.C. for database cleaning and to GeoDesign Exploration LLC, who will perform the reserve calculation and 3D block modeling and preliminary pit design.

Samples from the present campaign were shipped to Chemex lab in Hermosillo, Mexico. The samples are being analyzed by ICP and those containing over 10,000 ppm boron will be assayed by titration. Complete assay results are expected by roughly the end of September.

Metallurgical tests are being performed on the foregoing samples at LTM laboratory in Hermosillo, Mexico. A series of preliminary tests have been conducted with very promising results to date. In a grain size analysis it was found that Colemanite remains in the coarse fractions, reducing substantially the grinding process. Also, during desliming tests (two-hour agitated washing) a 10% B2O3 head has been concentrated up to 27-30% B2O3. The fine fractions are being tested to produce boric acid. Flotation tests are underway and results are expected soon. Preliminary processing flowcharts and pilot plant designs are being generated by AIISA Automation SA de CV in Hermosillo.

Bacanora is also pleased to announce the initiation of its second drilling campaign in its Ventana lithium project in eastern Sonora, Mexico. This campaign contemplates approximately 3,000 metres of drilling in 18 NQ-Core drill holes, with the objective of proving the continuity of the encountered hectorite clay mineralization for the purposes of generating a resource of Lithium Carbonate Equivalent (LCE). This target is about 3,000 x 300 metres and the drilling campaign is designed to evaluate the target in a grid of roughly 400 x 300 metre centres.

Field crews are currently working on road repairing, drill pad construction and road access to water supply, and are expecting to start drilling by the third week of September.

Other elements such as cesium, potassium and boron occurring within the clays have returned anomalous values.

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 these activities will be announced by Bacanora in subsequent news releases in accordance with applicable disclosure rules and timing provisions.

Paul Conroy, President and CEO, states: "We are very pleased with the results obtained thus far on our El Cajon deposit and we are confidently working forward with a view toward the commercial development of this exciting deposit. We are also looking forward to further developing the Ventana lithium project in upcoming months, with preliminary calculations of both potential size and grade being very encouraging to date."

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

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Contact Information

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