April 3, 2012< BACK TO INDEX
Bacanora Achieves Commercial Colemanite Grades and Provides Update on Its Borate Program
BACANORA MINERALS LTD. (the "Company" or "Bacanora") is pleased to announce that it has successfully achieved marketable grades of colemanite concentrate after extensive laboratory testing of borates from its El Cajon deposit. Bench scale testing has yielded product with grades upwards of 40% B2O3, which is considered as the industry benchmark grade for commercial production of colemanite concentrate. Based on management's review of published price indicators 40-42% colemanite concentrate is currently selling for approximately $500 per tonne. Both the glass and textile fibre glass industries have been identified as potential markets for Bacanora's colemanite products.
Testing conducted to date has consisted of metallurgical and process testing that has been ongoing since September 2011 and has included grinding, desliming, reagent and flotation analyses. The testing procedures were developed by internal Company experts and consultants, with actual laboratory work performed by ALS-Chemex, an independent lab based in Hermosillo, Mexico.
Now that the Company has successfully achieved a colemanite concentrate grade of 40% B2O3, further testing will be required in order to refine the flow sheet for the Company's proposed pilot plant. Upon the conclusion of testing the equipment list detailing the components required for pilot plant operation will be finalized and components will be ordered. A siting study for the pilot plant and Company laboratory has been concluded, with several possible locations identified within acceptable proximity to the El Cajon property. Upon completion of testing, focus will return to completing an updated National Instrument 43-101 compliant report targeted for release in the third quarter of 2012.
The consulting group Servicios Geologicos IMEX SC have been engaged for the generation of 3D block model, mine plan and pit design. Mining permit applications have been finalized and all applicable documents are ready for filing with the Secretary of Environment. In addition, long term lease contracts for surface rights are being negotiated. Infrastructure access, including water availability is being arranged concurrently.
Paul Conroy, President and CEO, states: "We are extremely pleased with the progress that our team has made by achieving the milestone of commercial grade colemanite from our El Cajon borate deposit. We look forward to further scaling up this process to the pilot scale level in the coming months and continue to take positive steps forward toward our goal of commercial production."
Martin Vidal, Professional Geoscientist, is the Qualified Person for this news release and has reviewed and approved its contents.
FOR FURTHER INFORMATION PLEASE CONTACT:
President and Chief Executive Officer
Phone: (306) 649-0600
Fax: (306) 649-0601
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