Big North Files NI43-101 Technical Report on El Tejon Property
February 28 2014 - 9:00AM
Access Wire
Vancouver, B.C., February 28, 2014 - BIG NORTH GRAPHITE CORP. (TSX-V: NRT) (OTC:
BNCIF)(the "Company"
or "Big North"),
announced today that a National
Instrument 43-101 technical report dated effective February 14,
2014, has been filed by the Company and is available on SEDAR under
the Company's profile. The technical report is entitled "El Tejon
Graphite Project" and was prepared by R. Tim Henneberry, P. Eng.,
an independent "qualified person" as defined by National Instrument
43-101.
As
previously disclosed in the Company's news release dated February
5, 2014, the Company entered into a share purchase agreement
(the "Agreement") with MAG Exploration Services Inc. and Cesar
Javier Guajardo Villareal (together, the "Vendors"). Pursuant to
the terms of the Agreement, Big North will acquire all of the
shares of Grafito de Mexico, S.A. de C.V. ("Grafito"), held by the Vendors (which shares represent
97.5% of the issued and outstanding share capital of Grafito.
Grafito is the registered and beneficial owner of the El Tejon
property.
The El
Tejon property is 500 hectares and is comprised of both, the El
Tejon flake graphite mine and an existing 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 El
Tejon Property is the only flake graphite mine to have produced in
Mexico. The mine and mill were originally built in 1980. In 1989, a
second processing line was installed to increase the capacity. El
Tejon was an open pit mine, and 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.
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 sales of amorphous graphite
totaling 760 tons to date.
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 acquired 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.