North American Gem Inc. Announces the Mobilization of Drill Rigs to the Saffle and Dalton Tracts in West Virginia
VANCOUVER, BC, Mar 12, 2009 (MARKET WIRE via COMTEX News Network) --
North American Gem Inc. (TSX-V: NAG) (the "Company") announces it will be mobilizing drill rigs to its 37 acre potential surface mining prospect, the Saffle tract, and its 130 acre potential surface mining prospect, the Dalton tract, both in West Virginia.
Triad Engineering Inc., of West Virginia, will be overseeing the operation and providing the equipment, such as water trucks, bulldozer and drill rigs as well as drilling the holes on both properties. Drilling will consist of limited drill holes on each property in order to take sufficient coal and soil samples needed to satisfy the prospect permitting requirements of the Department of Environmental Protection (DEP). The Saffle property will be drilled to an estimated depth of 115 feet and the Dalton property will be drilled to an estimated depth of 125 feet. There will not be sufficient holes drilled to provide for an adequate reserve estimate on the properties at this time due as the Company is focused on moving the projects forward in a timely and diligent manner towards full permitting status and eventual proposed production.
The Company anticipates drilling to commence no later than March 30, 2009. The core samples will then be analyzed at the laboratory and recorded along with several periodic water samples taken at specifically spaced intervals. Once all sampling and data logs are completed the Company will be able to file with the DEP for full permitting status.
About Triad Engineering Inc.
As a multi-disciplinary consulting firm, Triad Engineering Inc. provides geotechnical and civil engineering, environmental services, land surveying, construction testing and monitoring, drilling and construction materials laboratory services to a wide range of clients. Established in 1975, Triad prides itself in being an employee-owned firm with over 250 employees throughout West Virginia, Virginia, Maryland and Pennsylvania.
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 Saskatchewan and West Virginia. In addition to Coal exploration, the Company also has interest in Uranium, Copper, Gold, Molybdenum and other base metals in Canada. The Company has advanced the Louise Lake copper-gold-molybdenum-silver project, located in British Columbia and has produced a NI 43-101 compliant Resource estimate. In Alberta, the Whiskey Gap, Charles Lake, Western Basin, and Bonny Fault, Uranium potential projects. The Mosquito Gulch Uranium property located in the Northwest Territories and the Ranger Lake Uranium property located in Ontario.
On Behalf of the Board of Directors NORTH AMERICAN GEM INC. "Charles Desjardins" Charles Desjardins President and Director
THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary note:
This report contains forward looking statements, particularly those regarding cash flow, capital expenditures, and investment plans. Resource estimates, unless specifically noted, are considered speculative. The Company has filed a National Instrument 43-101 resource estimate on the Louise Lake property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. 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.
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
SOURCE: North American Gem Inc.
mailto:info@northamericangem.com https://www.northamericangem.com
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