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Bacanora Minerals in hurry to prove worth of lithium deposit

Bacanora will move straight onto a definitive feasibility study following a PFS
Bacanora Minerals in hurry to prove worth of lithium deposit
Bacanora has one of the world's largest lithium deposits

Bacanora Minerals (LON:BCN CVE:BCN) will move to prove the commerciality of its huge lithium deposit at Sonora in Mexico as fast as possible, it said today.

A pre-feasibility study got underway during the latest half year to establish the viability of a 35,000 tonnes per annum (tpa) lithium carbonate operation in a two phase process.  

Once this is complete, Bacanora will move straight on to a definitive feasibility study said Peter Secker, the group’s new chief executive.

Results from PFS are due this quarter and, subject to the results, work on the more detailed DFS will follow on immediately.

Secker added that after an £8.8mln placing it is not only fully funded to carry out the DFS but will be able to upgrade its lithium pilot plant in Hermosillo, Mexico.  

“This will allow us to produce battery grade lithium carbonate marketing samples for distribution to potential off-take partners in Europe and Asia later this year.” 

Sonora is one the world’s largest untapped lithium (Li) deposits with an indicated resource of 5Mt contained in 364Mt of clay at a Li grade of 2,600 ppm.

Due to its lightweight nature and effectiveness in energy storage, lithium is an essential element in the manufacture of smart phones and tablets, electric cars and smart grids. 

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May 31 2016

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