Source - RNS
RNS Number : 3108J
Bacanora Minerals Ltd
08 September 2016

Bacanora Minerals Ltd.


("Bacanora" or the "Company")


Holding in Company


The Board of Bacanora, the Canadian and London listed (TSX-V: BCN and AIM: BCN)  listed lithium and borates company focussed on Mexico, was informed on 5 September 2016 that Saorse Limited  no longer holds a notifiable interest in the share capital of the Company.



Enquiries please contact:


Bacanora Minerals Ltd.


Peter Secker, CEO

[email protected]


Cairn Financial Advisers LLP, Nomad


Sandy Jamieson / Liam Murray


+44 (0) 20 7148 7900

Numis Securities Ltd,



John Prior/James Black/Paul Gillam

+44 (0) 20 7260 1000

St Brides Partners, Financial PR Adviser

Frank Buhagiar / Elisabeth Cowell

+44 (0) 20 7236 1177



Bacanora is a Canadian and London listed minerals explorer (TSX-V: BCN and 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 consists of ten mining concession areas in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with NI 43-101) of 4.46 Mt LCE contained in 259 Mt of clay at a Li grade of 3,200 ppm and an Inferred Mineral Resource of 2.74 Mt LCE contained in 160 Mt of clay at a Li grade of 3,200 ppm.


·    The Magdalena Borate Project in Sonora state, Mexico, where the Company's main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 Mt 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.


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