Business
Expansion Plans for the Sonora Lithium Project
Expansion Plans for the Sonora Lithium Project.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0906T Rare Earth Minerals PLC 01 October 2014 \n\n1 October 2014\n \nRare Earth Minerals Plc.\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nExpansion Plans for the Sonora Lithium Project\nRare Earth Minerals (AIM: REM) advises that our joint venture partner in the Sonora Lithium Project in Mexico (the \"Project\"), Bacanora Minerals Ltd (\"Bacanora\"), have announced that it will commence a significant drilling and exploration programme in early November and is working with several key industry consultants to design a full scale lithium plant and mining operation, capable of up to 50,000 tonnes per annum of lithium carbonate equivalent (\"LCE\") to complement the already defined indicated mineral resource of 3.26 million tonnes of LCE on the Project.\nREM has a 12% shareholding in Bacanora. This interest, when aggregated with REM's 30% direct interest in the Fleur - El Sauz Lithium Joint Venture and the 30% direct interest in the Megalit Joint Venture, results in a total economic interest in each of these joint ventures of approximately 38.40%.\nThe full news release from Bacanora, dated 30 September 2014, is shown below.\nHighlights from the Bacanora release include:\n· Drilling programme to commence in November, with up to 5,000 metres to be drilled, to provide detailed open-pit design for mine planning purposes, expand current mineral resource and drill test targets generated from the mapping and prospecting programme on the Megalit concession.\n· Bacanora have retained Process Engineering LLC to design a plant capable of 50,000 tonnes per annum of lithium carbonate.\n· Testing has begun for the recovery of lithium hydroxide to meet potential new industry requirements from the electric vehicle markets.\n· Trenching and metallurgical testing to commence on the Buenavista area (part of the Megalit Joint Venture). The Buenavista clay deposits are exposed at surface for 6 km along strike and outcrop over 1.25 km across dip and have returned surface samples of up 1,700 ppm Lithium.\n· Bacanora is actively working with a number of potential off-take customers for its potential lithium compound production.\nDavid Lenigas, the Compa...