North American Gem Inc. Signs Its First Coal Purchase Contract for the North American Gem Mine #1
October 21 2009 - 8:30AM
Marketwired
North American Gem Inc. (TSX-V: NAG) (NAG) is pleased to announce
Blue Star Energy LTD. (Blue Star) intends to purchase up to 15,000
clean tons of coal per month produced at the North American Gem
Mine #1, Whitley County, Kentucky. Blue Star is a coal production
and brokerage company that caters mostly to specialty industrial
coal users but also supplies coal to various electricity generators
in the Appalachian region since 1996.
Blue Star, located in Hazard, Kentucky, has completed its
analysis of the Jellico coal seam at the North American Gem Mine #1
and now expects delivery of coal immediately upon the commencement
of production, which is still on schedule to begin within the
week.
The coal sample taken by Blue Star from the North American Gem
Mine #1 resulted in analysis of 8% ash, < 1% sulphur and 12,800
Btu.
Production is Expected to Begin Shortly on North American Gem #1
Mine
Production is expected to begin shortly (See NAG October 7th
2009 release) on the leases known as the North American Gem #1 Mine
Permit located in Whitley County, Kentucky.
NAG plans to have the coal from the Jellico seam extracted from
the North American Gem #1 Mine, under Kentucky State Mining Permit
#918-0396, to be the first coal to run through the Cobra Tippling
Production Plant (See NAG September 15th 2009 release).
Mr. Dean Schafer is acting as operations manager of all the
Company's Kentucky coal leases and is currently implementing an
overall mine plan.
Mike Magrum, PEng, a qualified person under National Instrument
43-101, has approved the technical content of this news
release.
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
Kentucky, 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.
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. The production rate and
mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations
will be economically viable. 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: 430 - 609 Granville Street Vancouver, BC, Canada V7Y
1G5 Phone 604-683-5445 Facsimile 604-687-9631
info@northamericangem.com www.northamericangem.com TSX-Venture:
NAG
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