North American Gem Inc. Has Submitted the Granny Rose Mining Permit Application to the Kentucky Department of Natural Resources
May 25 2010 - 12:54PM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) has officially
submitted the Granny Rose Mining Permit Application to the Kentucky
Department of Natural Resources. The Granny Rose lease is located
in Knox County, Kentucky and contains the highly marketable Blue
Gem coal throughout the entire lease with an average seam thickness
of 2 feet. Potential mining costs are expected to be relatively low
on this particular lease due to favorable strip ratios and mining
conditions.
The decision of North American Gem to acquire and develop this
coal lease was made with consideration of the situation regarding
the "mountaintop removal" and "valley fill" issues under scrutiny
by the US Environmental Protection Agency. None of the leases
currently held or being considered by NAG will be affected by this
issue.
The method of mining to be used is known as contour mining. All
of the mining permits currently being pursued by NAG have been
mined prior to the enactment of the Surface Mine Control and
Reclamation act of 1977. This law requires that after any surface
mining, the land must be restored to the approximate original
contour unless otherwise specified in the permit application and
approved by the Kentucky Department of Natural Resources (KDNR).
When "pre-law" mining was done, the general practice was to mine
along the contour of a slope to the maximum profitable ratio and
leave the resulting highwall and a wide, flat bench where the
material covering the coal was removed and then graded somewhat
flat as opposed to restoring the original slope. NAG will at the
very least return the mining permit locations to their current
state, and in some instances return the mining permit location to a
better environmental state due to the Surface Mine Control and
Reclamation act of 1977.
All of NAG'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.
Ms. Deborah Moses, PEng, PLS, REM, of Engineering Consulting
Services Inc. (ECSI) has approved the technical content of this
release. Ms. Deborah Moses is the qualified person for the
Company's coal operations in Kentucky.
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
North American Gem Inc. (TSXV:NAG)
Historical Stock Chart
From Sep 2024 to Oct 2024
North American Gem Inc. (TSXV:NAG)
Historical Stock Chart
From Oct 2023 to Oct 2024