17 Aug 2016 07:00
Bacanora Minerals Ltd
("Bacanora" or the "Company")
Appointment of Broker and Corporate Adviser
Bacanora, the London and Canadian listed (AIM: BCN and TSX-V: BCN) lithium and borates company focused on Mexico, is pleased to announce the appointment of Numis Securities Limited as its sole broker, with immediate effect. In addition, the Company has appointed Macquarie Capital (Europe) Limited as Corporate Adviser.
For further information, please contact:
Bacanora Minerals Ltd. | Peter Secker, CEO | info@bacanoraminerals.com |
Cairn Financial Advisers LLP, Nomad | Sandy Jamieson/Liam Murray
| +44 (0) 20 7148 7900 |
Numis Securities Ltd, Broker | John Prior/James Black/Paul Gillam | +44 (0) 20 7260 1000 |
St Brides Partners, Financial PR Adviser | Frank Buhagiar/ Elisabeth Cowell | +44 (0) 20 7236 1177 |
ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer (TSX-V: BCN and AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company's operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are:
· The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with NI 43-101) of 4.5 million tonnes (LCE) and 2.7 million tonnes Inferred. A PFS completed in Q1 2016 demonstrated the robust economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico.
· The Magdalena Borate Project, covering 16,503 hectares in Sonora state, Mexico, where the Company's main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 Mt of B2O3, at an eight per cent. cut-off grade. The Company has completed a number of measures to determine the geological and commercial potential of the project and is undertaking a pre-feasibility exercise to determine the economic benefit of developing the mine and constructing a processing plant on site in order to become a supplier of boric acid.