Bacanora Announces Staking of New Contiguous Lithium Claims
September 04 2013 - 9:00AM
Marketwired Canada
BACANORA MINERALS LTD. (TSX VENTURE:BCN) ("Bacanora" or the "Company") is
pleased to announce that it has staked an additional concession over an
aggregate of 900 hectares of ground adjacent to its existing La Ventana
concession ("La Ventana 1") and a further three concessions over an aggregate of
2,020 hectares on lands which adjoin the El Sauz and Fleur concessions (the "El
Sauz and Fleur Concessions"). With the addition of the La Ventana 1 concession,
total acreage under concessions owned 100% by Bacanora (being La Ventana, La
Ventana 1 and San Gabriel) now totals 3,290 hectares. With the addition of
additional acreage adjoining the El Sauz and Fleur Concessions (all of which is
subject to the joint venture between the Company and Rare Earth Minerals Plc.
("REM"), pursuant to which REM has an option to earn up to a 49.9% interest)
(such lands are collectively referred to as the "Joint Venture Lands")), the
total acreage under the Joint Venture Lands now totals 5,325 hectares. To date,
REM has earned a 10% interest in the Joint Venture Lands and has provided notice
of its intention to increase its interest in the El Sauz and Fleur Concessions
to 30%.
The staking of these additional concessions was made in order to cover ground to
the east and south of existing concessions where management believes there is
the possibility to find down-dip eastward extensions of the of the
lithium-bearing clay units found on Bacanora's La Ventana concession, as well as
the El Sauz and Fleur Concessions.
About the Sonora Lithium Project:
The Company's interests in the El Sauz and Fleur Concessions cover 5,325
hectares out of a total of 8,615 contiguous hectares that make up the Sonora
Lithium Project. The El Sauz and Fleur Concessions are the subject of the
Company's joint venture with REM, whereby REM has earned an initial interest of
10% in the El Sauz and Fleur Concessions and has provided notice of its
intention to increase its interest in the El Sauz and Fleur Concessions to 30%.
REM has a further option to earn up to a 49.9% interest in the El Sauz and Fleur
Concessions. For further details concerning the Company's agreement with REM and
details of the joint venture, please refer to the Company's press releases dated
May 22, 2013 and August 26, 2013.
Lithium is the lightest of the alkali metals and has unique electrochemical
properties that make it the element of choice for batteries of high energy
storage capacity and other energy applications as well as a host of other
industrial and health applications. Lithium-bearing clays also have strong
demand in the petroleum industry for high temperature - high pressure tolerant
drilling muds.
Carl G. Verley, P.Geo. is the Qualified Person pursuant to NI 43-101 that has
reviewed and approved the technical contents of this news release.
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 the potential for a significant lithium resource
to be developed on its properties, including the Joint Venture Lands, the La
Ventana concession and its newly acquired properties adjacent thereto. 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.
FIGURE 1. CONCESSION MAP is available at the following address:
http://media3.marketwire.com/docs/130904_FIGURE_1-CONCESSION_MAP.pdf.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bacanora Minerals Ltd.
Shane Shircliff
Chief Executive Officer
(306) 649-0602
www.bacanoraminerals.com
Bacanora Minerals Ltd.
Martin Vidal
President
(+52 662) 210-0767
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