North American Gem Inc. Applies for Multiple Coal Exploration Permits in Knox County, Kentucky
September 13 2010 - 8:00AM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) has applied for
multiple Coal Exploration Permits to the Kentucky Department of
Natural Resources. These permits applications are for the North
American Gem #2 Mine, North American Gem #3 Mine (Swan Pond Lease),
Gilliam Hill South Lease, and the Arkle Hollow Lease. A Coal
Exploration Permit will allow for surface disturbances and the
drilling and extraction of coal for the purpose of sampling and
analysis.
The exploration permit on the North American Gem #2 Mine will
allow for enhanced efficiency of operations currently under way at
the site as well as the evaluation of the surrounding area for
possible expansion. The exploration permit for North American Gem
#3 Mine is for the purpose of evaluating adjacent properties being
considered for expanded or additional mining permits.
Gilliam Hill South Lease is comprised of approximately 500 acres
and located just south of the North American Gem #2 Mine. Coal
Seams that are known to exist on the lease are the Blue Gem,
Jellico, Dean, and the Moss. Both the Dean and Moss seams have
historically proven to be low sulfur, high quality coal seams that
are ideal for the utility (electricity generation) market.
The Arkle Hollow Lease is comprised of approximately 562 acres
and is located less than 1 km south of the Gilliam Hill South Lease
and is known to contain the same coal seams. The longer term goal
is to secure leases on parcels of land that will physically tie
together the Gilliam Hill South and Arkle Hollow Leases. Both
Leases are located within 3 km of The North American Gem Processing
Facility.
The decision of North American Gem to acquire and develop all of
these coal leases were 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.
Mr. Dean Schafer is acting as general manager of 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 resource
company in Western Canada. The company's major focus is expanding
its coal mining operations at its flagship properties in Kentucky.
In addition, the company has interests in coal, copper, 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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