North American Gem Inc. Mobilizes Second Auger Into Position to Increase Coal Production on the North American Gem #1 Mine in Wh
December 03 2009 - 9:00AM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) is currently
mobilizing a second auger to the North American Gem #1 Mine in
Whitley County, Kentucky. Preparation of the second "mine face"
site has been completed and production from the second auger is
expected shortly. Auger #1 continues to produce coal as announced
on November 23rd 2009.
Blue Star Energy LTD. (Blue Star) located in Hazard, Kentucky
has agreed to purchase up to 15,000 clean tons of coal per month
produced at the North American Gem Mine #1, Whitley County,
Kentucky (as announced previously on October 21st 2009). Blue Star
is a coal production and brokerage company that caters mostly to
specialty industrial coal users but also supplies coal to various
electricity generators in the Appalachian region since 1996.
Blue Star has completed its analysis of the Jellico coal seam at
the North American Gem Mine #1 and now expects delivery of coal
immediately upon the commencement of production. The coal sample
taken by Blue Star from the North American Gem Mine #1 resulted in
analysis of 8% ash, less than 1% sulphur and 12,800 Btu.
The North American Gem #1 Mine is permitted for the use of
augers to enter the coal seam from the exposed wall with minimal
additional excavation and maximum cost effectiveness. This type of
mining dramatically reduces the amount of surface disturbance and
allows for the recovery of any potential reserves that were
previously believed not to be economically viable.
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, North American Gem Inc. 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.
North American Gem Inc. plans to have any coal requiring
processing from the North American Gem #1 Mine, to be the first
coal to run through the North American Tipple Facility which is
located centrally to the area being developed by NAG (as announced
previously on October 28th, 2009). Most of the coal produced, based
on laboratory and exploration data gathered during the evaluation
period is expected to be of high enough quality to ship directly to
the buyer.
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 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. 604-683-5445 604-687-9631
(FAX) info@northamericangem.com www.northamericangem.com
North American Gem Inc. (TSXV:NAG)
Historical Stock Chart
From Jun 2024 to Jul 2024
North American Gem Inc. (TSXV:NAG)
Historical Stock Chart
From Jul 2023 to Jul 2024