Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum North American Gem Inc V.NAG

TSXV:NAG - Post Discussion

North American Gem Inc > Here is full NR. There are many
View:
Post by HHAPPY on Apr 06, 2009 5:40pm

Here is full NR. There are many

mines in West Virginia who have been very economic with less than 3 feet seams of coal over more than 15 years of continuous production!!! especially the strip mines. These are excellent results-better than geologist contemplated. And these zones are expected to be less than the other zones to be tested later.
"

North American Gem Inc. Intersects Coal and CompletesDrilling on the Saffle and Dalton Tracts in WestVirginia

April 6,2009: North AmericanGem Inc. (TSX-V symbol: NAG) (the “Company”) announces that drilling has beencompleted on its 37 acre potential surface mining prospect known to the Companyas the Saffle Tract, and its 130 acre potential surface mining prospect, theDalton Tract, both in West Virginia.

Triad Engineering Inc. has completed 230feet in drilling on two holes on the Dalton Tract and an additional 53 feet indrilling on one hole on the Saffle Tract. The drill core has been logged, inaddition, soil and coal samples have been sent for analysis to StandardLaboratories Inc. in Belington, West Virginia. The test results from theoverburden analysis will determine what precautions are necessary to potentiallymine the coal and in the reclamation of theproperty.

Coal was intersected on Hole 1 of the Dalton Tract at 65feet 2 inches to a bottom depth of 68 feet 8 inches giving a coal thickness of 3feet 6 inches. Coal was intersected on Hole 2 of the Dalton Tract at a depth of10 feet 6 inches to a bottom depth of 13 feet giving a coal thickness of 2 feet6 inches. Further coal was intersected at a depth of 143 feet 3 inches to adepth of 146 feet 6 inches for a thickness 3 feet 3 inches. On the Saffle Tractcoal was intersected at a depth of 41 feet 5 inches to a bottom depth of 44 feet5 inches giving a seam thickness of 3 feet.

The Company is very pleasedand encouraged to have intersected the coal seams on each hole that was drilledin line with the anticipated historical estimates from previous data and workdone in the surrounding areas. Theseseams have historically been mined in the region utilizing surface miningoperations.

Once the Company receives the results from the water andsoil sample analysis they will be forwarded to the Department of EnvironmentalProtection (DEP) to satisfy the requirements towards full mining permit status.The process towards a full mining permit on the Saffle Tract will be expeditedby the fact there has been historical water and soil testing work done on theproperty.

StandardLaboratories Inc. currently operates over forty laboratories in the U.S.specializing in coal sampling and analysis, with additional analyticalcapability in soil, water, environmental and geochemical matrices. StandardLaboratories Inc. is proficient to perform virtually all routine and specialtytest procedures required by the United States coal industry and its markets.These methods have been subjected to rigorous validation studies andinterlaboratory collaborative testing and can thus be consideredreliable.

Allcurrent work on the West Virginia properties is being supervised by Mike Greenof Green Engineering, Inc., who is a registered professional engineer inPhilippi, West Virginia, and will be operating as the Company's qualified personunder National Instrument 43-101. Mr. Green has reviewed the technical contentof this news release and confirms its accuracy. Mr. Green is independent of theCompany.

North American Gem Inc. (TSX-Vsymbol: NAG) is a Junior Exploration Companybased in Western Canada. The Company's primary goal is to explore for Coal inNorth America, currently the focus is in Saskatchewan and West Virginia. Inaddition to Coal exploration, the Company also has interests in Uranium, Copper,Gold, Molybdenum and other base metals in Canada. The Company has advanced theLouise Lake Copper-Gold-Molybdenum-Silver project, located in British Columbiaand has produced a NI 43-101 compliant resource estimate (included in its NI43-101 Technical Report dated July 14, 2006 and updated February 6, 2009, asfiled on SEDAR). The Uranium projects include the Whiskey Gap and Western Basinin Alberta, the Mosquito Gulch p

https://northamericangem.com

On Behalf of theBoard of Directors

NORTH AMERICAN GEMINC.

"Charles Desjardins"

Charles Desjardins

President andDirector

Neither TSX VentureExchange nor its Regulation Services Provider accepts responsibility for theadequacy or accuracy of this release.

Cautionarynote:

This reportcontains forward looking statements, particularly those regarding cash flow,capital expenditures, and investment plans.Resource estimates, unless specifically noted, are consideredspeculative. The Company

Comment by Saturn4 on Apr 06, 2009 5:45pm
From the September 10, 2008 NR, in part it says:"ACC currently controls approximately 20,000 acres of coal leases inWest Virginia that are in various stages of permitting. Severaldifferent coal seams run on ACC’s properties including the well knownKittanning seam currently being mined at Cleveland-Cliff's White Tailmine 6 miles from ACC's project. Initial strip mining is anticipated ...more  
Comment by Invesking on Apr 06, 2009 5:53pm
Ok thanks HHAPPY. Like I said, i had no idea. I was actually doing a little DD to find some comparisons.do you know of any specific companies?Why would they drill certain zones when they expected other zones to be thicker elsewhere, to be tested later? Maybe I missed something in the translation..Anyway, I retract.You know, if these types of seams are economical and highly profitable, then what ...more  
Comment by HHAPPY on Apr 06, 2009 7:43pm
Saturn ,my understanding from past PRs from Nag and talking with IR and geologists was that NAG WILL NOT produce a 43-101 .at this stage. They are applying for an Enviromental permit and the Drilling permit at the same time. They are convinced they have an economic viable coal deposit and will begin production as soon as permits received. Will use revenue to produce a 43-101 on all the seams they ...more  
Comment by Saturn4 on Apr 06, 2009 8:04pm
Thanks HHappy, that's what I was told by IR as well.  I'm just saying that it would be nice to get a reserve estimate and a feasibility study done ASAP.  Skipping those steps has hurt the s/p IMO.  I guess its just a matter of time before it is done and it would be nice to be in production making $$$$$$$$.  But how much and for how long, that's the question.  ...more  
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities