Business
Field Work Commences on the Bacanora
Field Work Commences on the Bacanora.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 7161A Rare Earth Minerals PLC 25 March 2013 \n \n\n25 mARCH 2013\nRare Earth minerals plc\n(\"Rare Earth Minerals\" or \"the Company\")\n \nField Work Commences on the Bacanora - Rare Earth Minerals Lithium Joint Venture Property, Mexico\n \nRare Earth Minerals PLC (AIM: REM) is pleased to announce that the Field Work programme has commenced on the El Sauz and Fleur lithium concessions ('the Concessions') that form part of the Sonora Lithium Project in northern Mexico. The Company will earn an initial interest of 10% in the Concessions with an option to earn up to 49.9% interest in the Concessions from Bacanora Minerals Ltd as announced on 14 February 2013.\nListed below are the field work activities planned at the Sonora Lithium Project. \nField Work Programme\n· First phase of exploration funded by the Company consists of geological mapping and surface rock sampling at the El Sauz concession.\n· Previous sampling by Bacanora located lithium-bearing clay units that averaged 5,537 ppm Li (2.9% LCE*) over a true thickness of 4.5 metre sampled interval at one location on El Sauz.\n· Object of the current programme is to fully delineate extent of lithium-bearing sediments and determine lithium contents of exposed clay units.\n· An estimated 230 samples will be collected; the programme is scheduled to be completed by end of March, with analytical results to follow in early April.\n· Results will be used to plan an extensive diamond drilling programme to test down dip potential of lithium surface showings.\n· Drilling is expected to commence in late April or early May in conjunction with geological mapping and rock sampling at the adjacent Fleur concession.\n \nAbout the Sonora Lithium Project:\nThe Concessions cover 3,411 hectares out of a total of 5,786 contiguous hectares that make up the Sonora Lithium Project owned by Bacanora.\nInitial rock sampling and mapping of the Project by Bacanora located the lithium-bearing clay units. Drilling by Bacanora in 2010 and 2011 located two lithium-bearing clay units (upper and lower) that average 41 and 22 m in thickness, respectively, and that are separated by an ignimb...