Big North Graphite Completes Third Consecutive Month of Graphite Sales; Processing Facility Nears Completion
09 Octubre 2013 - 7:30AM
Access Wire
Vancouver, B.C., October 9, 2013 - BIG NORTH GRAPHITE CORP. (TSX-V: NRT)
(the "Company" or
"Big North"), is pleased to
announce that the Company has completed a third consecutive month
of amorphous graphite sales. The month's sales totaled 197 tons,
with the graphite screened to a 3/4 minus product at the Company's
processing facility located in Sonora, Mexico. The finished
graphite product was sold and delivered to a customer within
Mexico. Further, the Company is nearing completion of its
previously announced processing facility (see News Release dated
April 22, 2013).
The equipment, purchased in the
Southwestern US, is currently being tested in Arizona and will soon
be shipped to the Company's processing facility located near La
Colorada, Mexico. With the addition of this crushing circuit, the
Company will be able to crush and size the current stockpile of
oversize material to a 1/4 minus product, giving Big North the
ability to market a variety of sizes of graphite. In addition to
the implementation of equipment at Big North's processing facility,
the Company is continuing test mining at the Nuevo San Pedro Mine
and continues to purchase graphite from local miners to be
processed and sold from the processing facility.
Big North President Spiro Kletas
stated, "This marks our third consecutive month of sales of
amorphous graphite from our projects in Sonora, Mexico. We are
pleased to have made this level of progress in such a short period.
The Company will continue to focus on increasing production,
enhancing processing, growing sales and securing long-term offtake
partners. The completion of the processing facility will be very
beneficial to Big North achieving such goals."
Big North, through its Mexican
subsidiary Grafito la Barranca SA de CV, holds a 100% interest in
the Aki Wiki concession and has a 50/50 joint venture on the Nuevo
San Pedro Project. Both concessions are located in the San Jose de
Moradillas region, a region that has produced graphite for more
than 100 years. San Jose de Moradillas is located approximately 45
kilometers southeast of the city of Hermosillo, Mexico.
Big North Issues
Stock Options
The
Company also announces that its Board of Directors has approved the
grant of 1,050,000 stock options to directors, officers, employees
and consultants of the Company pursuant to the Company's approved
stock option plan. The options are exercisable at a price of $0.10
per share and have a term of five years from the date of
grant.
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. The Company completed its first sale of amorphous
graphite in August of 2013.
Recently, Big North
announced that the Company had started the assembly of a processing
plant that will be used for crushing, screening, sizing and drying
of 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. 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
Facebook: https://www.facebook.com/bignorthgraphite
Twitter: https://twitter.com/NRTgraphite
YouTube: http://www.youtube.com/bignorthgraphite
Flicker: http://www.flickr.com/photos/bignorthgraphite
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.
The
Company has not established mineral resources and has not completed
a valid mining study (as defined by NI 43-101) to support its
production decision at the Nuevo San Pedro Mine. Historically, a
production decision under these circumstances results in much
higher economic or technical risk. Furthermore, without a
pre-feasibility or feasibility study and a graphite reserve, there
can be no assurance that operations at Nuevo San Pedro will be
profitable.
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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