North American Gem snags more permits

CANADIAN junior exploration company North American Gem said Monday it has obtained 137 more coal prospecting permits from Saskatchewan Energy and Resources, giving it a new total of 757 permits approved by SER.
North American Gem snags more permits North American Gem snags more permits North American Gem snags more permits North American Gem snags more permits North American Gem snags more permits

 

Donna Schmidt

The company’s permits now encompass an area more than 1.43 acres north of Hudson Bay, Saskatchewan. The new property is near the most recent coal discovery by Goldsource Mines.

Late last month, NAG made another acquisition of 187 permits from SER, also near the Goldsource discovery.

The junior has uranium, gold and base metal exploration interests but says its primary goal is to hunt for coal in North America, especially in Saskatchewan and West Virginia.

In Saskatchewan, NAG’s most advanced project is the Adamas Property, with earlier exploration discovering a coal seam in the Cretaceous rock.

In October, the company announced it had secured the acquisition of Appalachia Coal Corporation in a cash and share purchase.

Under the deal, NAG now has a 100% interest in the British Columbia-based ACC and its 20,000 acres of coal leases in Preston County, West Virginia. The 20,000 acres of West Virginia leases are in various stages of permitting, according to NAG officials.

“Several different coal seams run on ACC's properties, including the well-known Kittanning seam currently being mined at Cleveland-Cliffs’ White Tail mine six miles from ACC's project,” said officials at the time.

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