North American Gem Inc. Has Reached Regulatory Milestone in the Permitting Process for North American Gem #2 Mine
June 23 2010 - 8:00AM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) through its
subsidiary, North American Gem US, Inc. is pleased to announced
that the application for the transfer of Mine permit #816-0443 in
the name of Jamieson Construction, Inc. to North American Gem US,
Inc. has been administratively accepted by the Kentucky Department
of Natural Resources (KDNR) in a letter dated June 17th 2010. The
new Mine permit number #816-0513 has been assigned to North
American Gem US, Inc., (NAG US) and has been recorded as North
American Gem #2 Mine in Knox County, Kentucky.
North American Gem US, Inc. has completed the required public
advertisement of the Notice of Intention to Mine and has submitted
proof of the advertisement to the KDNR. A 30 day public comment
period has now commenced and must elapse before the KDNR will issue
the final mining permit. At this time, NAG US will have met all the
requirements for final approval of the permit transfer and be
eligible to begin mining.
Kentucky Mine Partners LLC (KMP) has all of the equipment needed
to perform the mining operations prepared and staged at the North
American Gem #2 Mine. Initial production of the Blue Gem and
Jellico coal is planned for a production rate of 8,000 - 10,000
tons per month. The North American Gem #2 Mine will be a surface
mining and augering operation.
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.
The North American Tipple Facility will serve as the central
operation and distribution point for coal produced by NAG's mining
operations. The facility has equipment in place that is capable of
crushing, screening, and washing coal. This gives North American
Gem Inc. the added dimension to service a variety of customers by
preparing coal to meet their specific requirements. North American
Gem Inc. will also have the ability to purchase outside coal to
produce custom blended products which will increase market
potential. Specifically, plans are to service the industrial stoker
markets, silicon metal producers, and electricity generators.
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) 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
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