North American Gem Inc. Contracts Fugro Airborne Surveys to Explore the Tobin Lake Area, Saskatchewan
May 20 2009 - 12:59PM
Marketwired
North American Gem Inc. (TSX-V: NAG) (the "Company") is pleased to
announce that Fugro Airborne Surveys of Ottawa, Ontario has been
contracted to conduct an airborne geophysical survey on three
selected "Survey Blocks" around the Tobin Lake area for a total of
1,453 line kilometres with traverse line spacing of 600 meters.
This survey will cover a total of 66,347 hectares and is scheduled
to commence in approximately 2-3 weeks and will likely take 3-4
days to complete.
The Company prioritized this particular region surrounding Tobin
Lake based on historic coal occurrences within oil exploration
wells. The interpreted shallow depth to coal of less than 100
metres from the surface was a key point in this decision. As with
the majority of the Company's land holdings, this region is within
the prolific "Durango Trend" as defined by Goldsource Mines Inc.;
which comprises several coal occurrences between Wapawekka Lake and
the Goldsource's "Border Property" northeast of Hudson Bay. The
surveyed region will also provide year round drilling access to
potential targets, and a straight-forward approval process through
private land holders and the Saskatchewan Ministry of Energy and
Resources. The drilling approval process is scheduled to take
approximately 1-2 weeks after targets are generated by the airborne
survey.
North American Gem 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 (The Old Channel Project), have received their exploration
permit. It is expected that exploration and drilling will commence
in early June, depending on weather and ground conditions.
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: 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 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."
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. 430 - 609 Granville Street
Vancouver, BC, Canada V7Y 1G5 Phone 604-683-5445 Facsimile
604-687-9631 info@northamericangem.com www.northamericangem.com
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