29th Jun 2015 08:35
LONDON (Alliance News) - Bacanora Minerals Ltd said Monday it has filed a technical report in respect of its Ventana, Fleur and El Sauz concessions, forming part of the Sonara lithium project in northern Mexico.
The report provides detail in relation to the mineral resource estimate for the lithium properties of the concession.
Bacanora sadi the updated MRE for the Sonora project, using a cut-off of 450 parts per million of lithium is comprised of:
- an indicated portion of the MRE at gross 1.14 metric tons lithium carbonate equivalent contained in 95 mt of clay, at a lithium grade of 2,200 ppm; and
- an inferred portion of the MRE at gross 6.30 mt LCE contained in 500 mt of clay at a lithium grade of 2,300 ppm.
Bacanora said the indicated portion of the MRE is up from 0.09 mt of LCE previously.
Rare Earth Minerals PLC has a 16.42% interest in Bacanora, and has a 30% interest in the El Sauz and Fleur concessions. Bacanora has a 100% interest in the Ventana concession.
Shares in Bacanora were down 3.5% at 77.00 pence Monday morning, while Rare Earth Minerals was trading down 0.1% at 0.934p.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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