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Directorate Change

21 Dec 2015 07:00

RNS Number : 6571J
Bacanora Minerals Ltd
21 December 2015
 

21 December 2015

Bacanora Minerals Ltd.

 

("Bacanora" or the "Company")

 

Director Change

 

 

Bacanora, the Canadian and London listed company (TSX-V: BCN and AIM: BCN), announces that David Lenigas has retired from the Board with immediate effect.

 

Colin Orr-Ewing, Bacanora's Chairman, commented: "David has made many positive contributions to the Bacanora Board since he joined the Company as a non-executive director earlier in the year and I wish him well with his new ventures. His enthusiasm and foresight in recognising the value of the Sonora Project at an early stage has helped drive the whole project forward."

 

David Lenigas further stated; "The Sonora Lithium Project has advanced a long way down the path to international recognition as a potential major new lithium supplier on the global scene. The world will need a lot more lithium that is currently being produced with the rapid development of electric/hybrid vehicle and energy storage markets in general ensures Bacanora is well placed to capitalise on this for the benefit of its partners and shareholders."

 

End

 

 

Enquiries 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

HD Capital Partners Ltd, Broker

 

Philip Haydn-Slater / Paul Dudley

 

+44 (0) 20 3551 4870

St Brides Partners, Financial PR Adviser

 

Hugo de Salis / 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 National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 5.0 Mt LCE1 contained in 364 Mt of clay at a Li grade of 2,600 ppm and an Inferred Mineral Resource of 3.9 Mt LCE contained in 355 Mt of clay at a Li grade of 2,000 ppm; and 

· 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.

 

1LCE = lithium carbonate (Li2CO3) equivalent; determined by multiplying Li value in percent by 5.324 to get an equivalent Li2CO3 value in per cent. Use of LCE is to provide data comparable with industry reports and assumes complete conversion of lithium in clays with no recovery or process losses.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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