Bacanora Minerals Ltd.

December 16, 2011 09:15 ET

Bacanora Completes Second Round of Drilling on Ventana Lithium Deposit, the Reconnaissance of El Sauz Lithium Prospect and Provides Operational Update on the Borate Programme

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2011) - BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the "Company" or "Bacanora") is pleased to announce it has successfully met its objective of proving the lateral continuity of the hectorite-polylithionite clay mineralization on the Ventana Lithium deposit. Bacanora intends to generate a National Instrument 43-101 compliant Lithium Carbonate Equivalent with an initial resource estimate on Ventana in Q1 2012. This round of drilling follows up on the impressive results from the first drill program which included drillhole LV-04 which returned a thick section of 54.25 metres averaging 2,713 ppm Li (1.45% Li2CO3) over the entire sample width. (see Bacanora's news release dated Jan 21, 2011).

This campaign, which consisted of a total 1,465 metres of 8 NQ-Core drill holes, has confirmed the deposit to be approximately 3,000 x 300 metres wide, to a depth of 200 metres. The deposit is open on strike at both ends and contains two mineralized zones of 30 and 40 metre sections respectively, for a composite thickness of 70 metres. Samples from the drilling are being prepared for shipment to be assayed.

Reconnaissance of El Sauz Lithium Prospect

The Company would also like to announce exploration activities including mapping and sampling, were finalized at its 100% owned El Sauz property. A continuous 120+ metre thick volcano-sedimentary section was exposed in a semi mountainous area that covers 1,200 X 400 metres in several outcrops. This section is composed of altered tuffs, white and green clays and silica layers similar in mineralization to Bacanora's Ventana lithium deposit. The section is gently dipping to the NE in the northern outcrops and to the SE in the southern portion and has a minimum stripping ratio since the clay section is exposed on the surface.

A total of 125 samples were collected with a general average of 1,000 ppm Li (with samples up to 7,220 ppm) and Potassium average of 0.5% (min 0.26%, max 3.07%). There were 36 samples that contained cesium with over 500 ppm and one sample with over 10,000 ppm Boron (3.22% B2O3). Additional results of these activities will be announced by Bacanora in subsequent news releases in accordance with applicable disclosure rules and timing provisions.

Operational Borates Update

Finally, Bacanora is pleased to report on progress being made on its El Cajon borates deposit. Senior Bacanora management has been personally overseeing metallurgy and assaying progress on the pilot scale production of colemanite from its El Cajon borate deposit. The Hermosillo region has been experiencing delays in testing due to a large backlog of samples and in response the Company has expedited the assay process by engaging the services of 3 separate laboratories. Once assay results are assimilated, the Company expects to complete an updated National Instrument 43-101 compliant report within the first quarter of 2012, which it hopes will result in its current "resources" being upgraded into "reserves" categorizations.

Paul Conroy, President and CEO, states: "We continue to be pleased with the results obtained from the activities taking place on our Lithium targets and the progress that our team in Mexico is making on commercializing the borates project. We feel that the refining of the metallurgical process is reaching a conclusion and we look forward to further results from the labs and the pilot plant planning in upcoming months."

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
    (306) 649-0600
    (306) 237-0601 (FAX)