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Banca I.F.I.S Spa BNCIF

Banca Ifis is an independent banking group specializing in the collection of trade receivables, non-performing loans, and tax receivables. The group's credit is exposed mostly to Italy and other European nations. Its trade receivables segment focuses on growing trade finance loans and providing liquidity to Italian small and medium-sized enterprises. Approximately one-third of its loan portfolio is from government and public administration, whereas two-thirds are from the private sector. The gro


GREY:BNCIF - Post by User

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Post by coffintraderon Feb 12, 2013 11:43am
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Post# 20974776

NRT samples 66.98% graphite at Nuevo San Pedro

NRT samples 66.98% graphite at Nuevo San Pedro

 

 

Big North samples 66.98% graphite at Nuevo San Pedro

2013-02-12 08:28 ET - News Release

 

Mr. Spiro Kletas reports

BIG NORTH GRAPHITE SAMPLES FROM 40.23% TO 66.98% GRAPHITE IN PREPARATION FOR THE RE-START OF THE NUEVO SAN PEDRO PROJECT, SONORA MEXICO

Big North Graphite Corp. released today the sample results from the Nuevo San Pedro property, the company's principal property within its Mexican graphite project. The samples were taken in preparation for the restarting of the Nuevo San Pedro mine and included a sample of 66.98 per cent graphite. An announcement on the restart of the Nuevo San Pedro mine will be made once final preparations are concluded.

The samples were taken during the due-diligence property visit by Tim Henneberry, PGeo, Big North's independent qualified person. Three grab rock samples were taken. A grab sample from an active subdrift face returned 66.98 per cent graphite. A grab sample of the coarse fraction from a surface stockpile returned 40.23 per cent graphite and a grab sample of the fine fraction from the same surface stockpile returned 49.48 per cent graphite.

In November of 2012, the company reported that phase 1 of the development of the Nuevo San Pedro mine had been completed, including the delivery of heavy equipment, and repair and construction of haul ways and existing access roads to the mine site were completed. Site prep and clearing at the mine site along with enlargement of stockpiling areas allow for immediate sorting and shipping of mined graphite. The underground workings have been cleared and stabilized for safety and will allow for mining to begin immediately. Two new drills, support equipment and a compressor have been delivered and are ready for use. An electric generator power and a cable winch have been installed for extracting graphite from the lower levels. The company has obtained approval and permits for the use of explosives, and the first holes were drilled and ready to blast.

The Nuevo San Pedro mine is 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 kilometres southwest of the city of Hermosillo, Mexico. The Nuevo San Pedro amorphous graphite mine previously produced graphite until 2002.

The samples were analyzed at Acme Analytical Laboratories Ltd. in Vancouver, B.C., an ISO 9001 certified lab. Acme employed the Group 2A-09 by Leco procedure, where graphite carbon is determined by preigniting a prepared sample split at 600 C for one hour, leaching with HCl, then analyzing the residue by Leco.

Big North Graphite president Spiro Kletas commented, "We are very encouraged by these results, and the company continues to aggressively pursue the stated goal of restarting the Nuevo San Pedro mine."

Tim Henneberry, PGeo, a consultant to Big North, is the qualified person as defined in National Instrument 43-101 who has reviewed and approved the technical content of this news release.

We seek Safe Harbor.

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