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True North Gems Rings in the New Year With the Discovery of a 139-carat Sapphire

Investors in True North Gems (TSX.V: TGX) were treated to a rare gift this Christmas past when the company reported the discovery of a new sapphire prospect complete with a 139 carat blue sapphire on its Beluga sapphire property in Nunavut, Canada. The prospect is located on the south shore of Baffin Island, approximately six hundred km west of the company’s Greenland ruby prospects.

The news may have taken some investors off guard, who have been watching closely as the company works toward a positive preliminary assessment of its 110 sq km Fiskenaesset ruby project on the southwest coast of Greenland.

The Beluga sapphire property is actually two mining claims comprising 9.9 square km near the hamlet of Kimmiru. TGX acquired the property in November 2003 through an option agreement with Inuit prospectors who earlier discovered the sapphire occurrences.

The Beluga sapphire occurrence is a metamorphic-type deposit – essentially an ore deposit formed under great pressures and high temperatures, where alteration under these conditions twists, warps and folds the earth and can form gemstones.

To date, twelve gem occurrences, including blue, colourless (sometimes called white), pink and yellow sapphire, have been discovered on the Beluga sapphire property over a 2.7 km strike zone.

The Kikturiaq occurrence is located approximately 1.2 km northeast of the main Beluga occurrence. The samples collected from the surface exposure included several sapphires. The largest is an almost complete crystal weighing 27.85 grams or 139.24 carats.

According to company documents, the large sapphire crystal is a barrel-shaped prism with a colourless core and a bright to dark blue outer rim. The gem occurs in three fragments. The largest of the fragments weighs 18.1 grams (90.6 carats), measures 15 mm in diameter and 20 mm in length.

“Clarity ranges from transparent to translucent,” states the report. “Brittle fracturing, overprinted by recent surface weathering, affects the exposed sapphire crystals.”

This is a most significant discovery for True North Gems. The site had been the focus of some previous exploration activity, but was not mentioned in the 2005 NI 43-101 technical report entitled “2005 Report on Field Activities for the Beluga Sapphire Project.” This new discovery “represents the highlight of the 2007 exploration program now completed on the 18.5 km2 Beluga sapphire property.”

True North Gems’ technical team found nine discrete sapphire showings along the 225 metre, arc-shaped Kikturiaq occurrence. The total sample weight collected in 2007 from Kikturiaq was estimated at 1.3 tonnes.

“We are very encouraged that our specialized exploration expertise continues to yield promising targets, such as the Kikturiaq occurrence, which contain commercial-sized sapphires exhibiting mineralogical characteristics similar to the high quality, colourless and blue gem sapphires previously recovered from the Beluga occurrence”, said Greg Davison, True North Gems’ Vice President Exploration. Davidson is also head of the planning and execution of the sapphire exploration and quality control programs at the Beluga Project.

Davidson and his colleagues have also identified four new sapphire occurrences on the Beluga property, including the Imakkuutuq occurrence, which contained six sapphire showings, located 500 metres southeast of Kikturiaq.

With grab samples and six mini-bulk samples from throughout the Beluga project now in the hands of SGS Minerals Services in Lakefield, Ontario, analysis is ongoing.

TGX Acquires Additional Exploration License in Greenland

Due to a string of major successes, the Fiskenaesset Ruby Project in Greenland has been the primary locus of TGX’s successes to date. True North has hit ruby occurrences in fifty percent of the holes the company has drilled – an admirable accomplishment, to be sure.

Fiskenaesset is located on the southwest coast of Greenland, about 160 kilometres south of the capital Nuuk. The property’s three claim blocks cover 110 square kilometres in which True North stands to earn a 100% interest.

Greg Fekete, President, and VP of Exploration Greg Davison, along with CEO and Chairman Andrew Lee Smith, anxious to expand land holdings in the area, last year applied to the Bureau of Mines and Petroleum (BMP) and the Joint Committee on Mineral Resources for Greenland and Denmark for an expanded mining permit. The company announced in December that it had received a license to explore an additional 713 km2, bringing the total exploration package in Greenland to 823 km2.

True North started work at Fiskenaesset in 2004. A 3,000 kg bulk sample from the Siggartartulik occurrence produced 144 grams gem quality ruby per tonne and 3.3 kg near-gem per tonne. Later the company would produce similar gem and near-gem grades from five other occurrences.

The most important ruby occurrence found to date in Greenland is True North’s Aappaluttoq occurrence in the Fiskenaesset Ruby project. It was here at the end of 2005 that the company first discovered hydrothermal rubies, which are clearer, rarer and more valuable than those formed metamorphically or metasomatically.

A 100-kg sample from Aappaluttoq yielded 533 grams of gem material (including 253 grams of gems greater than 8 mm across) and 550 grams of near-gem material. The largest ruby weighed a staggering 88 grams, or 440 carats.

That stone has since been carved into the Kitaa Ruby, a 302 carat ruby depicting detailed scenes of oceanic lore.

Work in 2006, included a 30 tonne sample from Aappaluttoq and proved (once again) better than the previous work. The company reported 1,937 g/t of gem and 2,563 g/t of near-gem stones.

While True North Gems’ management (and investors) wait for gem grade results from Nunavut, it is clear that 2008 holds much in store. After a three years of exploration in which subsequent years have so outpaced each forerunner, this new year may hold the key that investors have long awaited in North America’s only producer of coloured gemstones – namely, sales (and revenue) of gem quality rubies, sapphires and emeralds in profitable quantities.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

About the Author

Resourcex Investor is an internationally distributed newsletter about emerging junior resource companies. Sign up for a free 1-month trial to our newsletter and get instant access to news and investing tips that have helped many of our readers make more money. http://www.resourcex.com

Lavender Jade Carved Elephant Pendant $20 Purple jade carved elephant on an 18" chain.

Pair of Hand Carved Jade Chopsticks $16.49 Feast your eyes on this radiant Pair of Hand Carved Jade Chopsticks.Handcrafted by skilled Chinese artisansTo be used as a decorative ornamentMade from pure Chinese jadeThe Chinese have a rich and deep cultural legacy with jade, and believe that jade has supernatural power. Using jade wares and jade ornaments helps resist the intrusion of evil influences and spiritsWhat is Worldstock?The handcrafted nature of this product will produce minor differences in design and sizing. Subtle variations will occur from piece to piece, adding to its unique qualities. Measurements may vary slightly.

Carved Jade Flower Garnet Beads Necklace 14-26in. $59.98 Chinese-inspired design features a genuine carved-jade flower that blooms among genuine jade and garnet beads. Gift boxed. Flower drop is 2 1/2" long. Woven pull-cord adjusts 14"-26".

Carved Dragon Red Jade and Yellow Jade Bracelet $28.99 Fashionable bracelet features alternating carved dragon red jade and smooth yellow jade beadsDyed jade jewelry adds an exotic touch to your outfitElastic bracelet has a comfortable fit Stretch bracelet easily slides on and offLarge red jade beads each measure 12 mmSmall yellow jade beads each measure 8 mmBracelet measures 12 mm wide x 7 inches longAll carat weights and measurements are approximate and may vary slightly from the listed dimensions. Treatment code TC. See Gemstone Treatments for further information.

Carved Dragon Red Jade and Black Jade Bracelet $33.49 Fashionable bracelet features alternating carved dragon red jade and smooth black jade beadsDyed jade jewelry adds an exotic touch to your outfitElastic bracelet has a comfortable fit Stretch bracelet easily slides on and offLarge red jade beads each measure 12 mmSmall black jade beads each measure 8 mmBracelet measures 12 mm wide x 8 inches longAll carat weights and measurements are approximate and may vary slightly from the listed dimensions. Treatment code TC. See Gemstone Treatments for further information.

Genuine Carved Jade Bunny in a Basket Pendant 24in $39.98 Resembling sweet Easter candy, our bunny nestled in a cozy basket is skillfully carved of genuine jade and has a sterling silver bail. Comes with a 24" chain.

Carved Green Jade Slip-On Bangle Bracelet. 8 $206.25 Crafted with intricate detailing, our our carved green jade slip-on bangle bracelet is sure to add a a dash of the exotic to any look you choose, year-round. With its unique styling, this green jade bracelet will certainly get lots of attention.

A Rare Painted and Carved Carousel Deer, American, 19th Century $49.99 A Rare Painted and Carved Carousel Deer, American, 19th Century - Giclee Print

A Very Rare Finely-Carved White Marble Head of a Lokapala $49.99 A Very Rare Finely-Carved White Marble Head of a Lokapala - Giclee Print

A Rare and Important Carved Hardstone Figure of a Merchant, Circa 1890 $39.99 A Rare and Important Carved Hardstone Figure of a Merchant, Circa 1890 - Giclee Print

Carved Green Jade Bead Necklace. 20 $150 Convey the look of a far-off land without leaving the comfort of home with this carved green jade bead necklace! Graduated styling adds impact. Necklace is presented with gold-plated fishhook clasp.

Carved Green Jade Buddha Face Pendant 18in $79.98 A symbol of enlightenment brought to life in a gemstone that opens the mind to all that is possible. Our buddha has a peaceful, smiling face and is carved in genuine jade. Includes an 18" sterling silver chain.

Green Mountain Jade Carved Clover Necklace 18-20in $59.98 Four-leaf clovers are handcarved of genuine green mountain jade and interspersed with jade beads to create this gorgeous "lucky" necklace. Adjusts 18"-20".

Hand Carved Jade Scroll Pendant Necklace $25 The hand carved pendant measures approximately 1.6x0.5 inches and attached on a jade bead adjustable necklace. This adjustable necklace can be worn from 12" to 26" which makes it very versatile for wearer. Due to the hand carve work and natural jade use each pieces may vary slightly by size and color. Brand: Dahlia Design: Animals Style: Y Necklaces Occasion: Anniversary Resizable: No Adjustable: No Stone: Jade Stone Shape: Radiant

Hand Carved Jadeite Jade Phoenix Pendant Necklace $39 The phoenix is considered the "king of birds" in Chinese tradition and symbolizes the five female virtues of benevolence, righteousness, propriety, wisdom, and sincerity. This hand carved phoenix jade pendant measures 1.7x1.1 inches attached on a jade bead adjustable necklace. This adjustable necklace can be worn from 12" to 26" which makes it very versatile for wearer. This pendant is made of Grade A jadeite jade which is all natural and not treated at all with any chemical, much more valueable than jade and its price increases every year. Due to the hand carve work and natural jadeite jade use each pieces may vary slightly by design, size and color. Brand: Dahlia Design: Animals Style: Y Necklaces Occasion: Anniversary Resizable: No Adjustable: No Stone: Jade Stone Shape: Radiant

Hand Carved Jadeite Jade Dragon Pendant Necklace $39 The dragon in ancient Chinese represents the man of all men: the toughest, the strongest and most the handsome. This hand carved dragon jade pendant measures 1.7x1.1 inches attached on a jade bead adjustable necklace. This adjustable necklace can be worn from 12" to 26" which makes it very versatile for wearer. This pendant is made of Grade A jadeite jade which is all natural and not treated at all with any chemical, much more valueable than jade and its price increases every year. Due to the hand carve work and natural jadeite jade use each pieces may vary slightly by design, size and color. Brand: Dahlia Design: Animals Style: Y Necklaces Occasion: Anniversary Resizable: No Adjustable: No Stone: Jade Stone Shape: Radiant

Carved Black Jade Pendant With Diamonds In 18kt White Gold $281.25 Our carved black jade pendant is crowned by a crisscross of diamond accents! Pendant is presented in 18kt white gold.

Carved Jade Flower Gemstone Chip Necklace 15 24in $79.98 Garden of Jade. It's a gemstone garden! A flower of carved, genuine lavender jade blooms in a garland of genuine carnelian, peridot, rose quartz, and amethyst on a graceful, vine-woven cord. Adjusts 15"-24" long.

Hand Carved Buddha Jadeite Jade Pendant Necklace $34.95 Maitreya (Mi Le Buddha) is a future Buddha of this world in Buddhist eschatology, symbolizes happiness, good luck, and plenitude. This hand carved Maitreya pendant measures 1.125" x 1.125". This pendant necklace suits both male and female, and also a great gift for your friends and loved ones. The jade bead adjustable necklace can be worn from 18" to 24" which makes it very versatile for wearer. This pendant is made of Grade A jadeite jade which is all natural and not treated at all with any chemical so the jade retains or increase its value since natural jadeite price increases every year. Due to the hand carve work and natural jade use each pieces may vary slightly by design, size and color. Brand: Dahlia Size/Dimensions: 1.00 Design: Religious Style: Y Necklaces Occasion: Anniversary Resizable: No Adjustable: No Material: Polymer

Genuine Red Jade Carved Braid Ring $59.98 Our genuine red jade ring is handcrafted into a gorgeous braid with no visible beginning or end. Whole sizes 6 - 10 only.

20 Inch Genuine Hand Carved Green Agate and Jade Necklace $159.99 20 Inch Genuine Hand Carved Green Agate and Jade Necklace Dimensions: Length: 20.00 Inches. 30 Pieces genuine Green Agate Color: Green, 9 Pieces Genuine Hand Carved Green Jade Color: Green Clarity: Clean Hand Knotted on Double Silk Thread

Carved Green Jade and Diamond Pendant In 18kt White Gold $235 Our carved green jade pendant is dressed with traditional Asian carvings and finished with a diamond-accented X bale. 18kt white gold pendant.

17 Inch Long 5-6mm Genuine Pearl and Carved Jade Flower Necklace $199.99 17 Inch Long 5-6mm Genuine Pearl and Carved Jade Flower Necklace Dimensions: Length: 17.00 Inches. 215 Genuine Fresh Water Pearls Color: Black Dyed, 1 Large 2 inch Hand Carved Orange Jade Color: Orange Dyed, 18 Pieces of Multi color hand carved Jade Hand Knotted on Double Silk Thread

Sterling Silver Carved Natural Green Jade Pendant $41.99 Capture the symbolic representation of the Orient with this .925 sterling silver green jade rectangle pendant. Intricately carved silver symbols for a blessed, prosperous and long life adorn this outstanding, timeless, classic jewelry. Size/Dimensions: Material: .925 Sterling Silver / Gram Weight: 3.5 / Stone: Green Jade / Stone Shape: Rectangle / Gemstone: / Gemstone Shape: / Width: / Chain Length: / Top to Bottom: 1 9/16 inches with bail / Side to Side: 9/16 inch / Thickness: 2.22 mm / Diameter: Design: Themed Style: Pendants Material: Sterling Silver Gender: Women

Hand-carved Marble Brown Jade Decorative Bowl $18.49 Embellish your home interior with this beautiful Asian bowlDecorative piece is hand-carved from marbled brown jadePolished jade bowl is handmade by highly skilled craftsmen from the Chinese city of HotanJade has long been revered for its aesthetic qualitiesDecorative Hotan bowl can be used as a stand-alone accent piece or to display shells, flowers and decorative itemsMeasures 4.25 inches in diameter x 2 inches highThis creation has been entirely handmade by skilled Chinese artisans using only the finest materials. The handcrafted nature of this item will produce minor differences in design, color and sizing. Subtle variations will occur from piece to piece, adding to the unique quality of individual creations. Measurements may vary slightly.

罕見五彩及綠田黃石Rare Multicolored & green Tian Huang Stone