North American Gem Inc. Prepares to Drill North American Gem #3 Mine, Kentucky
December 08 2009 - 9:27AM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) will begin
construction of road access to the determined drill locations on
December 10th on the leases that will be mined under the North
American Gem #3 Mine. The purpose of the drill program is to gain
additional information on the Jellico and Blue Gem seams as well as
provide a 43-101 compliant report on all of the coal seams known to
exist on the leased property. Additional coal seams have been
encountered through historical drilling of natural gas and oil
wells. In particular one coal seam, below the Blue Gem seam, has
been measured in thickness from 1.5-2 metres and is believed to be
a low sulfur, high btu seam.
The drill program will provide the means to obtain a laboratory
analysis which will determine the actual quality and
characteristics of all coal seams known to exist on the leases that
will be mined under North American Gem #3 Mine. The analysis of the
data will also help NAG develop the most efficient mining plan for
North American Gem Mining Permit #3.
In total, North American Gem Inc. has leased approximately 5,000
acres of coal reserves in Knox and Whitley Counties in Kentucky.
NAG is actively developing a total of 7 leases for mining permits,
the first of which, North American Gem #1 Mine is currently
producing marketable coal.
All of North American Gem Inc.'s potential mining operations
will incorporate sediment control methods that will keep ahead of
the increased regulations and restrictions. Furthermore, in
anticipation of increased regulations, NAG has, in all of its
permitting applications, begun the sampling of receiving streams
and groundwater wells utilizing the most stringent and extensive
sampling parameters. This will allow NAG to comply with the
regulatory requirements and will also result in a much shorter and
smoother permitting application process.
Mr. Dean Schafer is acting as operations manager of all the
Company's Kentucky coal leases and is currently implementing an
overall mine plan.
Robert Taylor, PEng, a qualified person under National
Instrument 43-101, has approved the technical content of this news
release and will oversee the agreement with Durabo Drilling of
Corbin, Kentucky for the drilling of the leases known as the North
American Gem Mining Permit #3.
North American Gem Inc. (TSX VENTURE: 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, President and Director
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.
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.
Contacts: North American Gem Inc. Charles Desjardins President
and Director 604-683-5445 604-687-9631 (FAX)
info@northamericangem.com www.northamericangem.com
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