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Last C$1.69 CAD
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As of 4:00 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

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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 2014.

bacanora minerals ltd (BCN) Key Developments

Bacanora Minerals Ltd. Reports Drilling Results for La Ventana, Sonora Lithium Project

BACANORA MINERALS LTD. announced assay results from a total of 2,946 metres of drilling in 22 holes recently completed on its wholly-owned La Ventana concession, as well as one hole drilled on the Fleur concession. Both concessions are held as part of the company's Sonora Lithium Project in Mexico. Highlights include: intercepts of the Upper Clay range from 26.10 to 50.83 metres in length and those for the Lower Clay range from 12.98 to 23.57 metres on La Ventana; analyses received for 18 of the 22 holes indicate that the lithium content of both Upper and Lower clays increases to the south on La Ventana, as well as maintaining grade and thickness down dip at depth; the single hole drilled on the Fleur concession intersected 7.16 metres of the Upper Clay unit, which averaged 3,107 ppm Li (1.7% LCE) and 25.30 metres of the Lower Clay, which averaged 4,242 ppm Li (2.3% LCE).

Bacanora Minerals Ltd. Announces Executive Changes

Bacanora Minerals Ltd. announced the appointment of Mr. Peter Secker as the new Chief Executive Officer of the Company. Mr. Secker has over 30 years' experience in developing, constructing and operating mines, and most recently, has direct experience of working with lithium projects. His appointment as CEO is in line with the Company's strategy to continue to advance its pre-feasibility studies and to continue to evaluate and progress its path towards production for both the Sonora Lithium Project and the Magdalena Borate Project in Mexico. As CEO, Mr. Secker will report directly to the board of directors of the Company (the "Board"). Mr. Secker takes over the role of CEO from Shane Shircliff, who will remain on the Board as a director of the Company.

Bacanora Announces Update in Lithium Resources for the Sonora Lithium Project, Mexico

Bacanora Minerals Ltd. announced that it has updated the Mineral Resource Estimate (MRE) for its lithium properties, consisting of its 100% owned La Ventana lithium concessions, El Sauz and Fleur concessions which are held by Mexilit S.A. de C.V. and the Megalit concession, which is held by Megalit S. A de C.V. The MRE was carried out by SRK Consulting (UK) Limited (SRK), an independent consultant. The Sonora Lithium Project has been explored and sampled using appropriate methods and is sufficiently well understood to support the estimation of Indicated and Inferred Mineral Resources. The statement has been classified in accordance with the terminology, definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and has been reported in accordance with NI 43-101, by the Qualified Person, Mr. Martin Pittuck (MSc., C.Eng., MIMMM). Mr. Pittuck is an engineering consultant who is independent of Bacanora. The updated MRE of the Sonora Lithium Project, using a cut off of 450 ppm lithium is comprised of an Indicated portion estimated at 95 Mt, averaging 2,200 ppm Li, for 1.12 Mt of LCE, in addition to an Inferred portion estimated at 500 Mt averaging 2,300 ppm Li, for 6.30 Mt of LCE. In addition to the MRE, a further conceptual target of 300 to 350 Mt, at a grade of Li of approximately 1,500 to 2,500 ppm within the current pit shell is considered worthy of further exploration. If these figures were converted to a Mineral Resource via successful drilling and exploration, it is estimated that this could represent an additional 2.4 to 4.6 Mt of LCE at the Sonora Lithium Project. It must be noted however, that the potential quantity and grade of this target is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. Although the first stage of drilling has been completed on the Buenavista concessions, further metallurgical test work is required in order to determine the processing methodology of the ore and refinement of LCE. The updated MRE is based on assay results from drilling and trenching made available to SRK on 16 April 2015 including geological information but not assay results from the 9 holes that were announced on 24 March 2015.


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