Bacanora Minerals Limited (LON:BCN) (TSXV:BCN) told shareholders today that it has secured access and surface rights for its flagship Sonora lithium project in Mexico.
In a statement, the AIM traded exploration and development company said the move is in line with its strategy to construct an open-pit mine and large-scale beneficiation processing facility at Sonora, which is one of the world's larger lithium deposits.
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The London and Canada listed firm added that a Feasibility Study (FS) for a 35,000 tonnes per annum lithium carbonate operation at Sonora is on course for completion in late 2017.
Bacanora said the access and surface rights mainly relate to the land area covering mineral resources contained within the La Ventana, Fleur and El Sauz areas.
The group has entered into binding agreements to acquire the freehold to two parcels of land which, following completion of the FS, will provide the company with unrestricted access to develop the project and operate it for the initial life of mine.
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It added that significant progress has been made towards the completion of the FS by the end of 2017.
Bacanora CEO Peter Secker said, "Securing access and surface rights for the large and scalable Sonora Project represents another major milestone towards delivering on our objective to develop a world class lithium mining operation at Sonora.
He noted: “Today's news closely follows the recent Sonora Government Environmental Approval for the Sonora Lithium Project."