VANCOUVER, Dec. 3 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG) is
pleased to announce further developments on its 44,400 acres Whiskey Gap
Uranium project located in Southern Alberta along the Canada/U.S.A border.
North American Gem Inc. entered into a Joint Venture Agreement with
International Ranger Corp. (OTC pink sheets: IRNG) on November 1, 2005 and has
completed two drill programs in which anomalous radioactivity was intersected
in 31 of 37 drill holes totaling 4005 meters.
With the discovery of strongly reducing, radioactive sandstones,
containing anomalous heavy metals and associated radon in water, Management
remains confident that the Whiskey Gap lands could contain significant
Sandstone Hosted Uranium mineralization.
Most recently a Water Sampling Program had been conducted on the Whiskey
Gap project lands by the Alberta Geological Survey. The survey data is
released as Earth Sciences Report 2007-08 by R. Olsen and S. Anderson of the
AGS. The AGS study confirmed the Anomalous Radon and Uranium in water values
first located during the original International Ranger and North American Gem
AGS sample number 06USA017 collected from a location not previously
sampled, returned values of 160 ppb Uranium, 420 ppb Molybdenum and 140 ppb
Arsenic. These sample values are approximately 4 times higher than any
previous water samples taken on the property and are located up "flow
direction" of a strongly reducing zone of anomalous mineralization and
radioactivity defined late in the 2006 drill program.
Sandstone hosted Uranium mineralization typically is localized at the
boundary between oxidation and reducing conditions, these zones typically
contain high levels of heavy metals in addition to Uranium. The Whiskey Gap
property is underlain by a series of fluvial sandstones of Cretaceous age,
thought to be analogous to sandstones in parts of Wyoming that host
significant Roll front Uranium deposits.
The Whiskey Gap Project is a Joint Venture between North American Gem
Inc. and International Ranger Corp., whereby the Company can earn a 70%
interest by spending $1,250,000 over 3 years. An additional 10% can be earned
by taking the project to feasibility.
The project is under the direction of Glenn. S. Hartley P. Geol. in
accordance with the regulations of National Instrument 43-101.
About North American Gem Inc. North American Gem Inc. (TSX-V symbol: NAG)
is a junior exploration Company based in Western Canada. The Company's primary
goal is to explore for Uranium, Molybdenum, Gold, Copper and other base metals
in Canada. The Company is actively pursuing several opportunities, including
the Louise Lake copper-gold-molybdenum-silver project located in British
Columbia. The Company is also pursuing its uranium projects, consisting of the
Whiskey Gap, Del Bonita, Western Basin, and Bonny Fault projects, all located
in Alberta. In addition the Company is also pursuing its Mosquito Gulch
uranium property located in the North West Territories and the Ranger Lake
Uranium property located in Ontario.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
President and Director
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. Statements in this press release other than
purely historical information, historical estimates should not be relied upon,
including statements relating to the Company's future plans and objectives or
expected results, are forward-looking statements. News release contains
certain "Forward-Looking Statements" within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended. Forward-looking
statements are based on numerous assumptions and are subject to all of the
risks and uncertainties inherent in the Company's business, including risks
inherent in resource exploration and development. As a result, actual results
may vary materially from those described in the forward-looking statements.
For further information:
For further information: 430 - 609 Granville Street, Vancouver, BC,
Canada, V7Y 1G5, Phone (604) 683-5445, Facsimile (604) 687-9631,