Bacanora Minerals Releases Positive Preliminary Economic Assessment Results

 Bacanora Minerals Ltd. (TSXV:BCN) released the results of a positive Preliminary Economic Assessment on the La Ventana Lithium Deposit in Mexico: a mine life of 20 years, annual revenue of $US210 million for an Internal Rate of Return of 138% with a 1.9 year pay back, and capital costs of $US114 million with average operating costs at $US1,958/tonne. The Company also disclosed new inferred lithium resources that are estimated at 16,829,000 tonnes averaging 2,557 ppm Li, which brings the total estimated inferred resources for this project to 60 million tonnes averaging 3,000 ppm Li.

As quoted in the press release:

Highlights of the PEA (Table 1, below) for a potential lithium mining and production operation with an output of 35,000 tonnes battery grade lithium carbonate per annum over a 20 year open pit mine life suggest annual revenue of $US210 million for an Internal Rate of Return (“IRR”) of 138%, with a 1.9 year pay back. Capital costs are estimated at $US114 million and average operating costs at $US1,958/tonne. Net present value (“NPV”) of the Project, discounted at 8%, is $US848 million, assuming an average lithium carbonate price of $US6,000/tonne.

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