11 Feb 2015 15:30
Bacanora Minerals Ltd.
("Bacanora" or the "Company")
Bacanora Announces Selection as a TSX Venture 50 Company
Bacanora is pleased to announce that it has achieved a ranking in the TSX Venture 50®. The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange ("TSX-V"), in each of five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as at 31 December 2014.
Colin Orr-Ewing, Chairman of Bacanora, commented: "the Company is very pleased to have achieved this ranking within the TSX Venture 50®. This unsolicited recognition is a testament to the substantial progress that the Company has made over the past year, both operationally and in terms of increasing its market recognition. On behalf of the Company, we express our thanks to the TSX-V for this recognition and its continued support of our endeavours."
TSX Venture 50® is a trade-mark of TSX Inc. and is used under license.
Enquiries please contact:
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Bacanora Minerals Colin Orr-Ewing, Non-Executive Chairman Shane Shircliff, CEO
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+44 (0) 20 3696 2410 +1 (403) 237 6122 |
Cairn Financial Advisers LLP, Nomad Sandy Jamieson / Liam Murray
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+44 (0) 20 7148 7900 |
HD Capital Partners LLP, Broker Philip Haydn-Slater / Paul Dudley
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+44 (0) 20 3551 4870 |
Buchanan, Financial PR Adviser Bobby Morse / Gordon Poole / Jason Day |
+44 (0) 20 7466 5000 |
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 104,064 hectares in the north east of Sonora state. The Company, through drilling work to date, has established an NI 43-101 compliant indicated resource of 3.28 million tonnes ("mt") of lithium carbonate equivalent ("LCE") at a 2,000 ppm cut-off grade. The Company's 100 per cent. owned La Ventana deposit, which lies within the Sonora Lithium Project, hosts an NI 43-101 compliant drill Indicated lithium resource of 1.27 mt of LCE; and
· The Magdalena borate project, covering 16,503 hectares in Sonora state, Mexico, where the Company's main borate zone, El Cajon, has an NI 43-101 compliant indicated resource 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.