Ruby Crystal

Since historical times, the clarity and value of rubies have been praised in works of literature-from the Bible of the metaphysical poets. Today, investors will find a modern version of the same qualities as True North Gems (TSX.V: TGX) between a new chapter in his saga Fiskenaesset Ruby Project in Greenland. According to its press release on September 18, the company announced visible ruby and pink sapphire mineralization in 12 of 25 holes drilled in the drilling program during 5000 m. So far a total of 2,313.5 m were drilled with the depth of individual holes ranging from 50.3 million to 221.9m, with individual crystals ranging from less than 1 mm to 10 mm in size.

The Fiskenaesset Ruby project covers a large 110km2 of land and is located on the southwest coast of Greenland, about 160km south of the capital Nuuk. True North has an option to have a 100% interest on claims. Logistical support for the project is much easier than you imagine. The warming effect of the Gulf Stream keeps the ice on Greenland's west coast year free all year, and facilitates the rapid transport of personnel and equipment on the site Fiskenaesset. The season of exploration at the site Fiskenaesset is longer than the Canadian Arctic and projects of a commercial operation would have a long season of work in a maritime climate.

The Geological Survey of Denmark and Greenland (GEUS) has discovered rubies in outcrop in this area in 1966. True North has worked on the draft since 2004, is the bulk sampling, drilling and mapping, and is now in the authorization and scope stage. The company recently hired Wardrop Engineering, an engineering firms in the world above, to complete a scoping study in preparation for project feasibility. True North also has properties of emerald and sapphire in the Yukon and Baffin Island.

The Aapaluttoq (Greenlandic for 'Big Red') contains Presence sapphire ruby and pink. The rubies and sapphires (both are varieties of corundum) occur in highly altered ultramafic rocks between the shale anothosite. This area alteration has significant potential to provide the tonnage and grade required to support a viable mine. There are many more events on this great property that has yet to penetrate. Another encouraging factor is that the best stones come the bulk of the weathered zone. Overall grade point to a scenario of commercial viability, with concentrations of ruby gem-grade high quality pink sapphire and averaged 1937 g / tonne (9.685 carats per tonne) from ' a sample of 30 tonnes. Rubies are rarer and can be more valuable than diamonds, and large, high quality ruby can sell for about U.S. $ 1.450 - $ 25,000 per carat.

Independent evaluations have a ruby 0.69 carat prices of $ 3.220 to Aapaluttoq / carat, 0.96 carat sapphire and rose to $ 460/carat. The best sample contained a ruby crystal weighing 88g high (440 carats), which was carved into the Kitaa Ruby, weighing 302 carats and display of complex scenes of oceanic legends.

Currently, over 90% of the world's rubies come from Myanmar, a country better known as Burma. We have a trade embargo by the UN against the country because of the man in the junta rights violations, and the country became increasingly unstable after weeks of protests (already known the "Saffron Revolution") led by thousands of Buddhist monks and nuns. The military themselves through the black market enriches ruby sales similar to "trade in blood diamonds" in some African countries. Slave labor is also used in mining and processing Burmese rubies. To date, the economics of processing have encouraged hand-sorting of colored gems in countries with low wages. However, recent developments in exploration improved.