Northern Graphite Announces Filing of Expansion Case NI 43-101 PEA
December 9, 2013 (Source: Marketwired) — Northern Graphite Corporation (TSX VENTURE:NGC:)(OTCQX:NGPHF) announces that a technical report prepared in accordance with National Instrument 43-101 with respect to a Preliminary Economic Assessment (the “PEA”) on an expansion case for its 100% owned Bissett Creek graphite project has been filed on SEDAR at www.sedar.com. The technical report is dated December 6, 2013 and was prepared by Marc Leduc, P.Eng., and Gordon Zurowski, P.Eng. and Pierre Desautels, P.Geo. of AGP Mining Consultants Inc. (“AGP”). There are no material differences between the results of the technical report filed and the disclosure provided in the Company’s press release dated October 23, 2013 announcing the PEA results.
Gregory Bowes, CEO, commented that: “The PEA builds on the Feasibility Study completed by G Mining in August, 2012, the expanded resource model and updated FS economics completed by AGP and announced September 23, 2013, and the extensive body of work done in the 1980s, all of which have substantially de-risked the project in terms of resources, metallurgy and engineering. The PEA was undertaken to demonstrate the ability to meet expected future growth in graphite demand by doubling mill throughput after three years of operation based on measured and indicated resources only.”
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Northern Graphite Corporation
Northern Graphite Corporation is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in eastern Ontario. Graphite demand is expected to rapidly increase in the future due to strengthening economies and the growth in new technologies such as lithium ion batteries, particularly due to their use in hybrid and all electric vehicles. Graphite production is dominated by China which is modernizing and consolidating its industry and emphasizing value added domestic manufacturing rather than the export of cheap raw materials. Both the EU and USA have named graphite a supply critical mineral. Northern Graphite is well positioned to build the first new greenfields graphite development project in the west in over 20 years. The Company’s Bissett Creek project is a high purity, large flake, scalable deposit that is located close to infrastructure and has very competitive capital and operating costs. It is the only graphite project to have completed a full Feasibility Study and to have its major environmental permit. Additional information on Northern can be found at www.sedar.com and www.northerngraphite.com.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither 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.
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