NAG.V is getting more active- they are trenching on their property in B.C. called the Bonaparte property-
-here is their latest news release:
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NORTH AMERICAN GEM INC.
tsx-v - NAG
Suite 1788 - 650 West Georgia St., Vancouver, B.C. V6B 4N8
Tel: (604) 683-5445 Fax: (604) 687-9631 Toll Free: 1-866-683-5445
North American Gem Inc. trenching continues at Bonaparte,
New parallel vein system discovered
October 22, 2003 North American Gem Inc. is pleased to announce that the work
program on the Bonaparte Gold Property, located approximately 35 kms north of
Kamloops, British Columbia is proceeding.
The work program entails extensive trenching, totalling close to 400 meters.
The initial focus of trench work has been on extending the existing high grade
pit, which encompasses the Grey Jay and Crow vein system, as well as further
exploratory work on the additional known vein systems with the aim to provide
drill targets. Over one-half of the trenched exposure will be blasted to
provide additional material for assaying to assist in determining consistency of
grade throughout the vein system. To date, the trench work has now extended
the Grey Jay/Crow vein system approximately 90 meters south, with the vein
system still open in all directions. In combination with the existing pit,
approximately 175 meters of this vein system has now been exposed at surface.
In other news, a new vein system, named the "Eagle", has been uncovered
approximately 200 meters East of the Grey Jay/Crow vein system. Trenching on
this new discovery is ongoing, and in work completed so far, approximately 50
meters has been fully exposed, and an additional 30 - 40 meters has been
partially exposed at surface, with observed widths of up to 3 meters. Initial
sampling of this new vein system is being prepared for assaying by Egil Livgard,
P. Eng., the qualified person on the project, and a more extensive sampling
program is planned to commence shortly.
Results of this sampling are anticipated in the next few weeks, with previous
sample assays from the Grey Jay/Crow vein system extension expected within the
next week.
The trenching program is approximately one-half completed and has yet to
commence work on some of the other additional known veins, the Raven and
Flicker.
Previous historical trenching at surface on the Grey Jay and Crow system has
produced the following results:
Central Crow: 19.54 g (0.57 opt) over a length of 19 m, and a width of 1.06 m
Grey Jay: 51.49 g (1.50 opt) over a length of 29 m, and a width of 0.76 m
The Bonaparte Property is the subject of a recently prepared report in
accordance with NI 43-101, for Clan Resources, by Wayne M. Ash, P. Eng. of Ash &
Associates Consulting Ltd., Vancouver. The following is an extract from the
report:
"The Bonaparte Property is considered by the report's author to be one of the
premier gold prospects in the province. The Discovery Area encompasses an
abundance of well-mineralized, parallel gold-bearing quartz veins within a
tested area measuring just 300 m by 200 m. The shear structures which embrace
the veins are open along strike to the north and south…".
About North American Gem:
North American Gem is a junior exploration Company based in Western Canada. The
Company's primary goal is to explore for Gold and Platinum Group Metals. The
Company is actively pursuing several opportunities, including the company's
newly acquired option to earn up to 70% interest in the Bonaparte Mine Property,
and the Company's 100% owned Crayfish Property.
The Bonaparte Mine Property comprises 2100 acres located approximately 35 km
north of Kamloops, British Columbia and is easily accessible via good quality
all weather roads. Previous production and exploration on the property has
yielded assayed results up to 3.366 opt Au over 1.07 m, 9.369 opt Au over 0.56
m, and 0.938 opt Au over 2.73 m in previous shallow drilling programs, and
surface sampling results to 19.54 g (0.57 opt) over a length of 19 m and a width
of 1.06 m, 51.49 g (1.50 opt) over a length of 29 m and a width of 0.76 m, and
66.50 g (1.94 opt) over a length of 15 m and a width of 0.58 m.
The Crayfish Property consists of 65 contiguous claim units located in the Upper
Shebandowan Lake area some 80 km west of Thunder Bay, Ontario, located 10.4 km
northwest of the Inco Shebandowan Mine. Past production from the mine was 8.6
million tonnes of ore grading 2.0% nickel, 1.0% copper and 2.68 grams per tonne
of Platinum and Palladium. Previous work on the property has shown drill
results of over 3% Copper and 0.27% Nickel over 9.5 feet (Platinum and Palladium
were not assayed). Recent work includes for the first time, assaying for
Platinum Group Metals. Surface grab samples have assayed up to 13.01 g/t
Palladium and 3.76 g/t Platinum.
For further information, please contact Charles Desjardins, at 1-866-683-5445.
On behalf of the Board of
North American Gem Inc.
Charles Desjardins,
President
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