CALGARY, ALBERTA, Oct 21, 2014 (Marketwired via COMTEX) — BACANORA MINERALS LTD. ("Bacanora" or the "Company") (BCN)(aim:BCN) is pleased to announce that it has appointed Hatch Pty Ltd ("Hatch") as its engineering consultant for both the Sonora Lithium Project and the Magdalena Borate Project in northern Mexico. In this capacity, Hatch will assist with and advise upon the design of a lithium carbonate plant capable of producing up to 50,000 tonnes per annum, and the design of boric acid plant capable of producing up to 25,000 tonnes per annum (as previously announced by the Company in its press releases dated September 30 and October 14 2014, respectively).
Hatch is a multi-disciplinary engineering company and is known internationally for its capabilities in the provision of studies, engineering design and construction management services for lithium and boron chemical plants. Hatch has project experience in more than 150 countries and has more than US$35 billion in projects currently under management. Hatch has been working with some of the largest producers and projects of lithium and boron compounds in the world. Notable experience includes Hatch recently designing, constructing and commissioning Galaxy Resources' 17,000 tonnes per annum battery grade lithium carbonate plant in Jiangsu. Hatch will work alongside Bacanora's current metallurgical and plant design consultant to rapidly advance both projects.
Colin Orr-Ewing, Chairman of Bacanora, commented:
"We are very pleased with this appointment, as Hatch has extensive experience in the lithium and boron sectors, working with some of the largest producers in the world. This experience will be invaluable as we continue to progress both of our projects."
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:
-- The Sonora Lithium Project, which covers ten mining concession areas in
North East Sonora State. The Company, through drilling work to date, has
established a National Instrument 43-101 - Standards of Disclosure for
Mineral Projects ("NI 43-101") compliant Indicated Resource of 3.26
million tonnes of lithium carbonate equivalent at a 2,000 ppm cut-off
grade; and
-- The Magdalena Borate Project in Sonora State, Mexico, where the
Company's main borate zone, El Cajon, has a NI 43-101 compliant
Indicated Resource of 1.17 million tonnes of B2O3, at an eight per cent.
cut-off grade. The Company has completed a number of measures to
determine the geological and commercial potential of the project and is
undertaking a pre-feasibility exercise to determine the economic benefit
of developing the mine and constructing a processing plant on site in
order to become a supplier of boric acid.
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 size of potential plant designs. 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.
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Contacts:
Bacanora Minerals Ltd.
Colin Orr-Ewing
Non-Executive Chairman
+44 (0) 20 3696 2410
Bacanora Minerals Ltd.
Shane Shircliff
Chief Executive Officer
(403) 237 6122
Bacanora Minerals Ltd.
Martin Vidal
President
(+52 662) 210-0767
SOURCE: Bacanora Minerals Ltd.
