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Share Name | Share Symbol | Market | Type |
---|---|---|---|
North American Gem Inc. | TSXV:NAG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
NAG US continues to explore its current leases by stepping out beyond what the company already considers its minable coal and evaluating the quality of newly discovered coal. In particular, the exploration is ongoing at the 470 acre Brian Jones lease and the 560 acre Gilliam Hill South lease. Once exploration has completed a comprehensive engineering report will be compiled for evaluation.
NAG US has already received an access road permit for the Swan Pond lease; however the company needed to evaluate another option. An alternate access road was evaluated and it was determined to be a more cost efficient transportation route from the mine site. NAG US is currently waiting for the approval of this new access road permit in order to proceed with the establishment of mining operations at the Swan Pond leases (Mine #3).
NAG US is continuing to work on improving the production numbers at NAG Mine #2. Over the last 12 months, NAG US has experienced production inconsistencies at NAG Mine #2. Currently, NAG Mine #2 is being mined intermittently and the company is working to alleviate the legal issues which have been contributing to the production inconsistencies. An update will be provided when the company learns of any new developments.
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. Charles Desjardins President and Director 604-683-5445 604-687-9631 (FAX) info@northamericangem.com www.northamericangem.com
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