North American Gem Inc. Prepares to Fly an Electromagnetic Survey Over Selected Targets in the Tobin Lake Region
April 21 2009 - 5:22PM
Marketwired
North American Gem Inc. (TSX-V: NAG) (the "Company") is pleased to
confirm that the Company has made plans to fly a Full Spectrum
Time-Domain Airborne Electromagnetic Survey (EM Survey) over
selected targets. The EM Survey will have a focus on the Tobin Lake
area and the area to the south of the Goldsource Mines Inc.
discovery zone. Experts in the field of Airborne Electromagnetic
Surveys have confirmed to North American Gem management the
potential for airborne data in this particular region, that this is
a new viable method for selecting for coal occurrences within the
Manville formation.
The Company anticipates mobilization cost will be reduced in the
region as other Companies have also confirmed their willingness to
conduct airborne surveys in the near future. The Company is also
well into the drill permitting process for several project areas
within the Manville formation, in particular the two project areas
over which the EM survey will be conducted. The Company anticipates
having the drill permits completed before the EM data has been
analyzed which will allow the Company to begin drilling once
targets have been identified.
The Company has been granted 757 Coal Prospecting Permits
covering an area of 1,436,500 acres (581,376 hectares) that have
been approved by Saskatchewan Energy and Resources. The Company
acknowledges that this land package will require a few phases of
airborne study to cover the entire area of interest.
The Company would also like to confirm that Silver Fields
Resources and WestCan Uranium Corp., the Operator on Township
55-07-02, continue the drill permitting process in Saskatchewan.
Township 55-07-02 consists of 12 Coal Prospecting Permits (CPP)
totaling 23,040 acres to the northeast of Tobin Lake.
North American Gem Inc. has engaged Dahrouge Geological
Consulting Ltd. (Dahrouge) of Edmonton, Alberta, to complete the
permitting process on its behalf. Dahrouge has significant
experience in exploring for, and developing deposits of thermal
coal within the Western Canada Sedimentary Basin.
Investors are invited to visit the NAG IR Hub
At http://www.agoracom.com/IR/NorthAmericanGem where they can
post questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to NAG@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
North American Gem Inc. (TSX-V symbol: NAG) is a Junior
Exploration Company based in Western Canada. The Company's primary
goal is to explore for Coal in North America, currently the focus
is in Saskatchewan and West Virginia. In addition to Coal
exploration, the Company also has interests in Uranium, Copper,
Gold, Molybdenum and other base metals in Canada. The Company has
advanced the Louise Lake Copper-Gold-Molybdenum-Silver project,
located in British Columbia and has produced a NI 43-101 compliant
resource estimate (included in its NI 43-101 Technical Report dated
July 14, 2006 and updated February 6, 2009, as filed on SEDAR). The
Uranium projects include the Whiskey Gap and Western Basin in
Alberta, the Mosquito Gulch property in the Northwest Territories
and the Ranger Lake Uranium property in Ontario.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"
Charles Desjardins
President and Director
"Neither TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release."
Cautionary note:
This report contains forward-looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. By their nature,
forward-looking statements involve risk and uncertainties because
they relate to events and depend on factors that will or may occur
in the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing,
currency exchange rates, and, but not limited to, general economic
factors. Cautionary Note to US investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain
terms, such as "reserves" unless such figures are based upon actual
production or formation tests and can be shown to be economically
and legally producible under existing economic and operating
conditions.
Contact: North American Gem Inc. 604-683-5445
info@northamericangem.com
North American Gem Inc. (TSXV:NAG)
Historical Stock Chart
From Jun 2024 to Jul 2024
North American Gem Inc. (TSXV:NAG)
Historical Stock Chart
From Jul 2023 to Jul 2024