Big North Commissions NI 43-101 Technical Report on El Tejon Project
24 January 2014 - 12:29AM
Access Wire
Vancouver, B.C.,
January 23, 2014
- BIG NORTH GRAPHITE CORP. (TSX-V:
NRT) (the "Company"
or "Big North"),
announced today that the Company has
engaged R. Tim Henneberry, P.Geo. (British Columbia) of Mammoth
Geological Ltd. to complete an independent NI 43-101 compliant
technical report on the El Tejon Flake Graphite project (the
"Technical
Report"). A site visit has now
been completed.
Mr. Henneberry is a
geological consultant with 33 years of experience in base and
precious metals and industrial minerals. Through his wholly owned
consulting company, Mammoth Geological Ltd., Mr. Henneberry has
completed contracts throughout western Canada, Ontario, the western
United States, West Africa, Chile and Mexico. Specific to
industrial minerals, Mammoth has completed contracts in dimension
stone, aggregate, garnets, phosphate, graphite and potash.
Big North signed a letter
of intent to acquire the El Tejon property (the
"Acquisition")
on December 19, 2013 (see News Release dated Dec 19, 2013). The El
Tejon property is a 500 hectare property and consists of the El
Tejon flake graphite mine and mill (the "El Tejon
Property"). The El Tejon
Property is located in the state of Oaxaca, approx 38 kilometers
Northwest of the City of Oaxaca, in the town of San Francisco
Telixtlahuaca. The Acquisition is subject to, among other things,
obtaining the approval of the TSX Venture Exchange, including,
review of a title opinion and the review of the Technical Report.
There can be no assurance that the Acquisition will be completed as
proposed or at all.
The El Tejon Property
is the only flake graphite mine to have produced in Mexico.
Operated as an open pit, the mine and mill were originally built
and put into operation in 1980. The mill was used to crush, mill,
float, dry, screen and pack final product. The mine was operated
until 2002, and closed due to low graphite prices. At the time of
closing, approximately 80% of the graphite produced was sold to the
USA. Historically, the mine produced approximately 20% large flake
graphite and 80% medium and fine flake graphite.
About Big North
Graphite Corp.
Big North is a
graphite development and exploration company focused on select
projects in Mexico and Canada. The Company acquired three past
producing amorphous graphite mines in Sonora, Mexico and is working
towards accelerating the restart of the Nuevo San Pedro amorphous
graphite mine. Big North is currently in the Test Mining phase at
Nuevo San Pedro and has completed four sales of amorphous
graphite.
Big North has started the assembly
of a processing plant that will be used for crushing, screening,
sizing and drying of amorphous graphite to the specifications of
future customers. Further, the Company has commenced a strategy of
buying unprocessed amorphous graphite from local miners who do not
possess the ability to process or ship to end users. Recently, Big
North signed an LOI to acquire the El Tejon Flake Graphite Mine and
Mill in Oaxaca, Mexico. Big North also owns high priority, large
flake graphite exploration projects in Ontario and Quebec,
Canada.
For further information please contact Spiro Kletas at
(604) 629-8220.
ON BEHALF OF THE BOARD
(signed)
"Spiro
Kletas"
Spiro
Kletas
President and Chief Executive
Officer
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Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Except for
historical information contained herein, this news release contains
forward-looking statements that involve risks and uncertainties.
Actual results may differ materially. Except as required pursuant
to applicable securities laws, the Company will not update these
forward-looking statements to reflect events or circumstances after
the date hereof. More detailed information about potential factors
that could affect financial results is included in the documents
filed from time to time with the Canadian securities regulatory
authorities by the Company.
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