North American Gem Inc. Acquires Additional Land for the Del Bonita Property and Provides Update for the Whiskey Gap Project
Dec 6, 2005: North American Gem Inc. (NAG:TSX-v) (the “Company”) is pleased to announce additional staking of approximately 3,100 acres along the Del Bonita property located in southern Alberta. This acquisition incurs staking cost only and falls under the area of mutual interest in the agreement with the joint venture partner, International Ranger. The Del Bonita property consists of four major formations comprising more than 200,000 acres of prospective roll-front uranium land. The four target formations are known as Willow Creek, Milk River, St. Mary River and Ravenscrag.
There is easy access across the Southern Alberta rangeland, which consists of upper-Cretaceous to lower-Tertiary sandstones and silty limestones that occur near surface. Roll-front uranium has been observed in the Willow Creek formation along drainages that contain naturally high concentrations of uranium. Reconnaissance sampling programs carried out in 1981 and 1982, including samples taken from a roll-front exposed in a river bank, returned up to 2,000 parts per million uranium or 0.2 per cent U3O8. The technique used to analyze the reconnaissance samples had an upper detection limit of 2,000 parts per million uranium (historical estimates should not be relied upon). Normally, samples running at upper detection limits are reanalyzed with different laboratory techniques, but in this case there is no record of such overlimit analyses having been performed. The area is easily accessible for resampling.
This roll-front uranium found in the Willow Creek, Milk River, St. Mary River and Ravenscrag formations is similar to the deposits in Wyoming, South Dakota, Colorado, Utah and New Mexico. The major uranium deposits of Wyoming have produced over 200 million pounds of uranium.
In the event that an economic deposit is developed, the Southern Alberta roll-front uranium appears to occur in a form that can be processed by in situ leaching (ISL). That is, the uranium can be solution-mined using injection and production wells rather than being excavated with open pits or underground mining. The ISL process is simple, it uses local groundwater that is naturally enriched in uranium and returns purified, less-radioactive water to the environment. There is virtually no land disturbance and the process does not require waste or tailings facilities.
Whiskey Gap Update At the time of this press release the Company has begun to drill its 12th hole on the Whiskey Gap project located in southern Alberta. Also at this time the Company is awaiting the preliminary assay results from the Saskatchewan Research Council (SRC).
The Whiskey Gap and Del Bonita projects are 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. (NAG:TSX-v) 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. The Company is actively pursuing several opportunities, including the company's Louise Lake Property located in British Columbia, Canada and its Uranium and Multi-mineral deposit Properties which are the Del Bonita, the Western Basin, the Bonny Fault, and the Whiskey Gap, all located in Alberta, Canada.
On Behalf of the Board of Directors NORTH AMERICAN GEM INC. "Charles Desjardins"
Charles Desjardins President and Director
The TSX Venture Exchange has not reviewed and 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. 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.
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