CALGARY, ALBERTA, Mar 16, 2015 (Marketwired via COMTEX) — BACANORA MINERALS LTD. (BCN)(aim:BCN) ("Bacanora" or the "Company") is pleased to announce that it has appointed SRK Consulting (UK) Limited ("SRK"), as part of the engineering team to review and prepare an updated resource statement on the Sonora Lithium Project in northern Mexico, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and the Joint Ore Reserve Committee ("JORC") guidelines.
This resource statement will form the basis for detailed mine design work required for the completion of the Sonora Project's pre-feasibility study and will be used in negotiations with potential Project partners and potential lithium off-take partners.
Colin Orr-Ewing, Chairman of Bacanora, commented:
"Bacanora looks forward to working with SRK to update our mineral resources on the Sonora Lithium Project. SRK has wide experience in the lithium sector working on resource modelling and mineral processing at some of the largest developing projects in the world. This experience will be invaluable as we continue to progress the Project."
"It is anticipated that recent drilling successes on the Sonora Lithium Project should result in further increases to the previously declared lithium resources that have been published by the Company for the Sonora Lithium Project. It is anticipated that this work could be completed as early as the end of April."
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 addition of more resources and production of a NI 43-101 report. 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) 210-0767Original Article: http://www.bacanoraminerals.com/news/TSX-V/pdf/tsxv_news20150316.pdf
