Lithium project developer Bacanora Minerals Limited (LON:BCN, CVE:BCN) has completed its 4,000 metre infill drilling programme at its Sonora project in Mexico.
The programme is designed to enable a portion of the current resource to be upgraded from the indicated category to the higher confidence measured category.
Consultant SRK Exploration has started to update the resource model and, all being well, an updated resource should be published before the year is out, sequential with the commencement of mine planning and open pit designs for the feasibility study, scheduled for delivery in the first quarter of next year.
Sonora holds one of the world’s largest lithium resources and benefits from being both high grade and scalable.
At its lithium carbonate pilot plant in Hermosillo, near the Sonora project, refinement and optimisation of the lithium carbonate flow sheet continues, and is expected to do so for a further 18 months or so.
Battery grade lithium carbonate samples from the pilot plant have been distributed to Japan for preliminary appraisal and testing by potential end-users, Bacanora revealed.
“The Sonora Lithium Project has demonstrated its potential to deliver high grade lithium carbonate to the market with operating costs which could position it very favourably in comparison to its peers. The team continues to prove that it has the lithium operations and mine development expertise to attain key milestones and incrementally build project and shareholder value, something recognised by the company’s institutional backing,” said Peter Secker, chief executive of Bacanora.
“We have demonstrated our ability to produce battery grade lithium carbonate at our wholly-owned pilot plant in Hermosillo, Mexico and also confirmed that the deposit is both long life and scalable, positioning it to supply the rapidly growing market for lithium carbonate, at a comparatively low cost, for over 20 years.
“The continued growth of the electric vehicle, combined with the commercial developments being made in delivering large-scale renewable energy storage capacity makes the lithium carbonate market a compelling place to do business. Accordingly, our in-house operations, both current and future, are dedicated to ensuring that we secure the right development path to deliver the best possible product at the lowest possible price,” Secker added.
Story by ProactiveInvestors