CALGARY, ALBERTA--(Marketwired - March 24, 2015) - BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX VENTURE:BCN)(AIM:BCN) is pleased to provide an update of activities on its wholly owned La Ventana concession as well as on concessions held by Mexilit S.A. de C.V. ("Mexilit") and Megalit S.A. de C.V. ("Megalit"), companies owned 70% by Bacanora and 30% by Rare Earth Minerals PLC ("REM") in Sonora, Mexico.
Highlights of programs are as follows:
Exploration and Resource Development:
La Ventana concession:
Mexilit S.A. de C.V. (El Sauz and Fleur concessions):
Minera Megalit S.A. de C.V.(Megalit, Buenavista and San Gabriel concessions):
Lithium Plant and Process Design Work:
Colin Orr-Ewing, Chairman of Bacanora, commented:
"We are very pleased by the intercept of clay units in hole ES-42 on the Fleur concession as this clearly opens up the area to expansion of the lithium resource on both La Ventana and Fleur, an exciting discovery for a step-out hole, as the resource potential in this area could be developed by open pit mining methods. . It demonstrates that faulted blocks exist on other parts of the property and the bounding faults have the potential to bring the clay units into an economic envelope. Progress on mine and plant design and process certification is advancing quickly."
Carl G. Verley, P.Geo. is the Qualified Person pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the AIM Note for Mining and Oil and Gas Companies that has reviewed and approved the technical contents of this news release.
ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer (TSX VENTURE:BCN)(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:
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to potential increase in existing resources at La Ventana and. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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