Bacanora Minerals Ltd. (TSXV:BCN) released the final drill results from the last six holes of the ten hole, 1,476 metre drill program on the Fleur and El Sauz concessions in northern Mexico, a joint venture with Rare Earth Minerals PLC (AIM:REM). Significant lithium-bearing intervals were intersected in all of the drill holes.
As quoted in the press release:
Over the 4 kilometre interval drilled, the average length of intercepts for the Upper Clay Unit is 28.10 metres and for the Lower Clay Unit is 30.51 metres. The average true thickness, based on the estimated dip of the units at 20 degrees to the northeast, is 94% of the length of intercepts. Therefore the average true thickness for the Upper Clay Unit is estimated to be 26.42 metres and for the Lower Clay Unit it is estimated to be 28.68 metres. For intervals with significant lithium values (i.e. greater than 1,000 ppm Li) the average length of these intercepts of the Upper Clay Unit is 19.43 metres (True thickness: 18.27 metres). The average drill core sample length for the significantly Li mineralized intervals in the Upper Clay was 1.51 metres and Li values ranged from 41 to 6,200 ppm Li, averaging 1,386 ppm Li for individual samples. For the Lower Clay Unit the average length of significantly Li mineralized intervals is 29.38 metres (true thickness: 27.62 metres) and Li values in individual core samples (1.54 metres average length) range from 38 to greater than 10,000 ppm Li, averaging 2,497 ppm Li.
Bacanora Minerals Ltd. President, Martin Vidal, said:
We are very pleased with the lithium values obtained in the remaining holes. These results continue to demonstrate the persistence of the lithium-bearing clay units on the El Sauz and Fleur concessions and highlight the potential for a significant lithium resource to be developed on the joint venture lands. The results remain consistent with those found at the adjoining La Ventana deposit. Management will now move forward with estimation of an initial lithium resource for the area drilled on the El Sauz – Fleur concessions. The results of the resource estimate will be disseminated as soon as they are available.