Big North Graphite Commissions NI 43-101 Technical Report on El Tejon Project
23.01.2014 | The Newswire
Vancouver, 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.