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Bacanora Minerals Ltd.
Summary
| Project: | Zinnwald | |
|---|---|---|
| Deposit: | Zinnwald | |
| Location: | Germany | |
| Commodities: | Lithium | |
| Date: | 10/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 9-10-2018: Bacanora Minerals Ltd. announces a Resource Estimation report for its Zinnwald deposit at the Zinnwald project. Initial NI43-101 resource estimate for Zinnwald. Bacanora Lithium plc (AIM: BCN), the London listed lithium company, is pleased to a | |
| Resources: | (Resource, Total): 40.375Mt @ 3523ppm Li | |
| CP/QP: | [Resources]: Kersten Kuhn, Matthias Helbig (G.E.O.S. Ingenieurgesellschaft mbH) | |
| ABSTRACT: | Bacanora Lithium plc (AIM: BCN), the London listed lithium company, is pleased to announce NI 43-101 compliant Measured + Indicated resources of 124,974 tonnes of contained lithium ('Li') at its 50% owned Zinnwald lithium project ('Zinnwald' or 'the Project') in southern Saxony, Germany, representing a 30% increase from the previous PERC resource estimate of 96,200 tonnes. The total resource estimate for the Project (Measure + Indicated + Inferred) is 142,240 tonnes of contained Li. The mineral resource estimate forms part of the Feasibility Study ('FS') for a high value lithium product operation at Zinnwald that will supply the fast-growing European battery and automotive sectors. The FS remains on course to be completed in Q2 2019. Peter Secker, CEO of Bacanora, commented, "The NI 43-101 compliant resource upgrade to 142,240 tonnes confirms Zinnwald's status as one of the most advanced lithium projects in Europe. With a strategic location in the heart of the important German battery and automotive sectors, Zinnwald is ideally situated to become a major supplier of high-value lithium products to Europe's rapidly emerging electric vehicle and energy storage industries. We are keen to realise Zinnwald's potential and, with this in mind, we are looking forward to the completion of the FS in Q2 2019. "Meanwhile work continues at our lithium project in Sonora, Mexico where a FS confirmed the highly attractive economics and industry-leading low-cost profile of a Stage 1 17,500tpa battery grade lithium carbonate operation. Here, we are in advanced discussions with several potential partners both at the corporate and project level to secure, on attractive terms, the remaining funds that are required to commence the 18-month construction phase. With Zinnwald targeting key European markets and Sonora, the large and important Asian market, Bacanora is on track to become the international lithium production company we set out to build." | |
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