Last checked at 1 May 2014 07:01
1 May 2014
Rare Earth Minerals Plc.
("Rare Earth Minerals", "REM" or "the Company")
Boric Acid and Drilling Mud Test Results from El Cajon Deposit, Sonora, Mexico
Rare Earth Minerals Plc (LSE AIM: REM) is pleased to announce that Bacanora Minerals Ltd ("Bacanora"), a Company that REM now has a 6.1% shareholding, has reported successful pilot plant testing from borate-bearing sediments at its El Cajon borate deposit within the Magdalena Borate Project, Sonora, Mexico.
Bacanora has successfully produced material grading 99% boric acid from its pilot plant in Hermosillo on samples taken during bulk sampling of the borate-bearing A unit at the El Cajon borate deposit.
In addition, Bacanora concludes that a commercial drilling mud product could be produced from the El Cajon clays, subject to the formulation of a specific process to produce such mud.
The full Bacanora news release is attached.
David Lenigas, the Company's Chairman commented:
"The Magdalena Borate Project in Mexico is one of Bacanora's main assets on their balance sheet and shows significant development potential for boric acid production. REM sees that today's independent verification of the metallurgical test results are a positive development for the projects potential viability."
For further information please contact:
Rare Earth Minerals plc +44 (0) 207 440 0647
David Lenigas
Kiran Morzaria
WH Ireland Limited (NOMAD & Joint Broker) +44 (0) 207 220 1666
James Joyce
Nick Field
Hume Capital plc (Joint Broker) +44 (0) 203 693 1470
Guy Peters
Jon Belliss
Square1 Consulting
David Bick, Mark Longson +44 (0) 207 929 5599
Bacanora Mineral Ltd's News Release date 30 April, 2014:
NEWS Release
Bacanora Announces Boric Acid and Drilling Mud Test Results from El Cajon Deposit, Sonora, Mexico
CALGARY, ALBERTA--(Marketwired - April 30, 2014) - BACANORA MINERALS LTD. (TSX VENTURE:BCN) ("Bacanora" or the "Company") is pleased to announce results of pilot plant testing and testing of clays from borate-bearing sediments at its El Cajon borate deposit within the Magdalena Borate Project, Sonora, Mexico.
The Company has successfully produced material grading 99% boric acid from its pilot plant in Hermosillo on samples taken during bulk sampling of the borate-bearing A unit at the El Cajon borate deposit. The purity of the boric acid has been confirmed by Inspectorate Exploration & Mining Services Ltd. ("Inspectorate") based on x-ray powder diffraction data obtained from samples that Inspectorate submitted to the Department of Earth & Ocean Sciences at the University of British Columbia.
Concurrent with the boric acid testing, the Company submitted clay samples to Grinding Solutions Ltd. ("Grinding Solutions"), a metallurgical and mineral processing consultancy and laboratory services company based in the United Kingdom. Grinding Solutions has performed initial test work on the clays from the Magdalena Borate Project to determine whether the mineral characteristics of the clays contain properties that would allow commercial drilling mud to be produced. Based on such testing, Grinding Solutions concluded that a commercial drilling mud product could be produced from the clays, subject to the formulation of a specific process to produce such mud. Grinding Solutions has recommended that further tests be carried out in order to formulate a process for the production of a marketable drilling mud product.
Martin Vidal, President of Bacanora, commented "We are very pleased to be able to produce a high purity boric acid having a grade of 99%. Boric acid samples will be distributed to potential customers to gauge the demand and pricing for the El Cajon boric acid. The Company plans to continue to move the boric acid project forward towards the pre-feasibility stage with engineering design work for a boric acid plant. In conjunction with this work, the Company will be updating its mine plan and reviewing necessary capital and operating cost data for a pre-feasibility report. We are also very pleased to have determined the potential viability for a second commercial product to be produced from the clays and look forward to working together with Grinding Solutions in order to formulate a process for the production of a marketable drilling mud product"
About the El Cajon Borate Deposit:
The El Cajon deposit is the most advanced of several borate targets within the Magdalena Borate Project. Concessions constituting the Magdalena Borate Project are 100% owned by Bacanora's wholly-owned subsidiary, Minera Sonora Borax S.A. de C.V., subject to royalties totaling 6%. For further information on these properties please refer to the press release and technical report filed January 4, 2013.
Carl G. Verley, P.Geo. is the Qualified Person pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects that has reviewed and approved the technical contents of this news release.
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