Calgary, Alberta (FSCwire) - BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX-V: BCN and AIM: BCN), the Canadian and London listed lithium exploration and development company, announces that Martin Vidal, President and a Director of the Company, has resigned the foregoing positions, effective November 30, 2017. Mr. Vidal will remain with the Company in an advisory / consultancy capacity going forward.
Mark Hohnen, Chairman of Bacanora, commented, "On behalf of the Board and shareholders, we express our sincere thanks to Martin for his various contributions to the Company, including the key role that he has played from the time of first discovery and exploration of our lithium assets, through to the development phase that we are presently moving into. His contributions have been substantial and greatly appreciated. We wish him the very best with all of his future endeavours."
BACANORA:
Bacanora is a Canadian and London listed lithium exploration and development company (TSX-V: BCN and AIM: BCN). The Company is exploring for, and developing a pipeline of international lithium projects, with a primary focus on the Sonora Lithium Project. The Company's operations are based in Hermosillo in northern Mexico. The Company is led by a team with lithium expertise and proven mine development, construction and operations experience.
The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares 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 4.5 million tonnes (LCE[1]) and 2.7 million tonnes Inferred[2]. A Pre-Feasibility Study completed in Q1 2016[3] established Probable Mineral Reserve (in accordance with NI 43-101) of 2.1 million tonnes LCE and demonstrated the economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico.
In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project in southern Saxony, Germany. The Zinnwald Lithium Project is located in a granite hosted Sn/W/Li belt that has been mined historically for tin, tungsten and lithium at different times over the past 300 years. The strategic location of the Zinnwald Lithium Project allows immediate access to the German automotive and downstream lithium chemical industries.
