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bacanora minerals ltd (BCN) Details

Bacanora Minerals Ltd., a development stage company, engages in the identification, acquisition, exploration, and development of industrial mineral properties in Mexico. It has 100% interests in the Magdalena Borate Project that consists of 2 concession blocks covering a total of 15,508 hectares and is located in Sonora State; and the Sonora Lithium project, which comprises four separate concession blocks covering an area of 4,050 hectares and is located in Sonora State. The company is headquartered in Calgary, Canada.

bacanora minerals ltd (BCN) Top Compensated Officers

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Compensation as of Fiscal Year 2013.

bacanora minerals ltd (BCN) Key Developments

Bacanora Minerals Ltd. Provides an Update on General Exploration Activities on the Sonora Lithium Project in Northern Mexico

Bacanora Minerals Ltd. announced that it has received USD 1,000,000 from its joint venture partner, Rare Earth Minerals plc in connection with the exercise by REM of its second stage option in respect of REM Agreement 2 and provides an update on general exploration activities on the Sonora Lithium Project in northern Mexico. Results of the first four drill holes from the Megalit concession have been received. The drilling tested exposures of clay units 10 kilometers to the south of the lithium resource on El Sauz. The drill holes intersected faulted intervals of the sandstone and clay altered tuffaceous sediments that ranged from 0.91 to 5.79 meters in length. Samples from the clay intervals range from 352 to 1,470 ppm Li. The intercepts are interpreted to be proximal to the edge of a basin hosting lithium-bearing clay. Further work is required to determine if clay horizons intercepted in the holes are part of the basin containing the El Sauz - Fleur - La Ventana lithium deposit or are part of a separate basin and if there are thicker intervals of lithium-bearing clays within that basin. Surface sampling on the Buenavista concession, which is part of the Megalit holdings, have returned lithium values up to 1,700 ppm in clay units there. The lithium-bearing sediments on Buenavista strike north-south and are exposed for a length of 6 kilometers across the concession. The sediments dip, in general, gently to the east and crop out over 1.25 kilometers in an east-west direction. In addition, results from the last hole drilled on the Fleur concession have been received. The drill hole was collared 1.7 kilometers to the west of the La Ventana lithium deposit. The hole intersected 29.06 meters of the tuffaceous, clay-rich sediments. Samples of the sediments ranged up to 438 ppm Li. The sequence is interpreted to be proximal to the basin edge and to correlate with the Upper Clay Unit of the lithium deposit.

Bacanora Minerals Ltd. Announces Management Changes

Bacanora Minerals Ltd. announced the appointment of Mr. Colin Orr-Ewing as the Chairman of the Board of the company. Mr. Orr-Ewing has acted as a consultant to a fund management company on its natural resources portfolios for the last 20 years, and, until 2013, was Executive Chairman of Vatukoula Gold Mines Plc. The company announced the resignation of Mr. Paul Conroy from the position of Vice President Special Projects and as a Director of the Company. Mr. Conroy was the founder of Bacanora and has served as an officer and Director since its inception. It is expected that Mr. Conroy will remain with the company in a consultancy capacity.

Bacanora Minerals Ltd. Updates Exploration Work for the Sonora Lithium Project in Mexico

Bacanora Minerals Ltd. provided update of completed operational activities, ongoing exploration work and future plans for the Sonora Lithium Project in Mexico. Drilling and exploration of Joint Venture #1 with Rare Earth Minerals PLC, Stage 3 drill program was recently completed on the El Sauz - Fleur concessions; and Mapping and prospecting have discovered new clay exposures on the Fleur concession. Joint Venture #2 with REM: Diamond drilling has commenced on the Penasco lithium clay prospect on the Megalit concession, mapping and prospecting have discovered new clay exposures on the Megalit concession, and Trenching of lithium clay surface showings on the Buenavista concession will be initiated shortly as a part of the drilling program on Megalit. Engineering and Pilot Plant: After achieving lithium carbonate product with over 99.5% purity, contact with engineering groups concerning the potential design of a lithium carbonate plant has been initiated with the aim of scoping a 35,000 to 50,000 tonne per year lithium carbonate plant, Pilot plant continues to produce lithium carbonate samples for potential buyers, and test work on the clay units from Ventana and Sauz-Fleur areas was conducted in order to determine suitability for use in drilling mud.


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