VANCOUVER, Dec. 5 /CNW/ - North American Gem Inc. (TSX-V symbol: NAG) is
pleased to announce that an eight hole 2000 meter NQ diamond drill program
will commence approximately on December 12, 2007 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.
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.
The eight holes will be drilled to test Uranium and heavy metals
anomalies, located during the Alberta Geological Survey assessment of the
region. "We are very pleased with the work conducted by the Alberta Geological
Survey," said Charles Desjardins, President of North American Gem Inc., "their
expertise in exploration has provided our Company with first class uranium
targets on our upcoming diamond drill program."
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. 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.
North American Gem Inc. would also like to announce that a joint venture
on the Company's total potential interest may occur before the upcoming drill
program is completed.
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,