North American Gem Inc. Commences Operation of Coal Preparation and Rail Loading Facility in Knox County, Kentucky
October 28 2009 - 9:00AM
Marketwired
North American Gem Inc. (NAG) (TSX-V: NAG) is pleased to announce
the commencement of operations at the coal preparation and rail
loading facility in Knox County, Kentucky effective immediately.
The 19-acre facility was formerly known as the Cobra Facility
(Cobra Tippling Production Plant) and is permitted by Safeco, Inc.
under KDNR permit #861-8012. Recently, the 19-acre facility has
been officially designated the North American Tipple Facility which
is located centrally to the area being developed by North American
Gem Inc.
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.
The North American Tipple Facility is serviced by the CSX
railroad and currently has enough rail capacity to accommodate the
loading of unit trains (110 railcars) which will allow for more
favourable rail transportation rates.
Production from the North American Gem #1 Mine operation
establishes North American Gem Inc. as a coal producer with the
ability to enter into supply contracts. The supply contracts
established by production from the North American Gem #1 Mine
Permit are expected to be expanded upon as the Company increases
operations in the area. The performance and capabilities of
production from the North American Gem #1 Mine Permit will
determine the point at which further production from additional
leases is commenced.
Mr. Dean Schafer is acting as operations manager of all the
Company's Kentucky coal leases and is currently implementing an
overall mine plan.
Mike Magrum, PEng, a qualified person under National Instrument
43-101, has approved the technical content of this news
release.
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
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"
Charles Desjardins
President and Director
"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."
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.
North American Gem Inc. 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
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