Gems Carved
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 Charming Handmade Carved Rose Quartz Healing HeartGem  US $5.99
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 Rare Red Jade Skull Skeleton Carving Crystal Gem 4 Sets US $24.99
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 371LB Unique Natural Lifesized Lapis Lazuli Skull Carving Gem US $389.90
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 Painting Jasper Crystal Carving Healing Love Heart Gem US $12.90
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 2 Rare Bamboo Stone Carved Crystal Healing Gem Sphere STAND US $2.99
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 Charming CARVED Mini Green Opal Healing HeartGemH031 US $.99
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 Charming CARVED Picture Jasper Healing HeartGemH060 US $.99
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 Charming CARVED Green Jade Healing HeartGemH045 US $.99
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 Polished Carved Bamboo Stone Healing Egg Gem US $.99
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 Polished Carved Rainbow Obsidian Healing Sphere Gem US $.99
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 3 Charming CARVED Rose Quartz Healing Hearts Gem US $8.99
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 Charming CARVED India Agate Healing HeartGemH063 US $.99
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 Polished Carved Fluorite stone Healing SphereGemS047 US $8.99
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 Polished Carved Imperial Japer Healing Sphere Gem US $.99
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 Amazing Carved Turquoise Healing SphereGemS081 US $.99
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 Carved clear quartz Crystal Gem Stone turtle healing US $3.99
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 Handmade Carved Leopard Skin Healing WandGem US $8.99
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 Handmade Carved Bamboo stone Healing EggGem US $.99
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 HANDMADE CARVED PICTURE JASPER SKULL STATUEGEM006 US $.99
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 Polished Carved Yellow Iceland Spar SphereGemS029 US $.99
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 Handmade Carved Rainbow Obsidian Healing SphereGem US $.99
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 Flawless Carved Moonstone 6pc Healing EggsGemS165 US $.99
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 Colorful CARVED FLUORITE STONE HEALING HEARTGemS206 US $.99
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 Colorful CARVED FLUORITE STONE Healing SPHEREGemS121 US $8.99
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 Colorful CARVED FLUORITE STONE Healing SPHEREGemS124 US $.99
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 Colorful CARVED GOLD SAND STONE HEALING HEARTGemS171 US $.99
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 Colorful CARVED GOLD SAND STONE Healing SPHEREGemS138 US $.99
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 Colorful CARVED GREEN CATEYE HEALING HEARTGemS210 US $.99
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 Colorful CARVED GOLD SWAN Healing SPHEREGemS113 US $.99
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 Colorful CARVED GOLD SWAN HEALING HEARTGemS183 US $.99
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 Colorful CARVED GREEN SPOT STONE HEALING HEARTGem177 US $.99
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 Colorful CARVED GREEN JADE HEALING EGGGemS151 US $.99
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 Handmade Carved Afghanistan Jade Healing SphereGem US $6.99
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 Handmade Carved Red Jade Lions Healing SphereGem US $9.99
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 Polished Carved Fluorite stone Healing EggGemS055 US $.99
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 Crystal Chinese Jade Gem Stone Flower carved Extend cord Bracelet Luvky¼ŒHealing US $9.82
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 Crystal Chinese Jade Gem Stone carved Flower cord Bracelet Extend Luvky¼ŒHealing US $9.82
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 Rare Turquoise Carved Crystal Healing Gem Ball Sphere 53mm 02 US $9.99
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 Charming colorful Cat Eye Gem Sphere Carving Ball US $8.99
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 Rare Bamboo Stone Carved Crystal Healing Gem Ball Sphere 49mm 024 US $8.99
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 Rare Opal Cat Eye Gem Carved Pendulum Crystal Healing US $5.99
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 Rare Red Jasper Carved Crystal Healing Gem Ball Sphere 45mm 020 US $9.99
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 Rare Jade Hand Carved Crystal Healing Gem Ball 35mm US $.99
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 Rare Red Jasper Carved Crystal Healing Gem Ball Sphere 45mm 06 US $9.99
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 Rare Andalusite Carved Crystal Healing Gem Ball 25mm 3 Sets US $9.99
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 Beautiful Marble Carving Egg Gem Stone US $.99
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 Rare Tiger Eye gem Carved Skull Skeleton US $9.99
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 Mini Cat Eye Gem Carved Heart Shape US $7.99
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 45g dolphin NATURAL AMETHYST QUARTZ CARVING GEM US $3.99
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 Rare Turquoise Carved Crystal Healing Gem Ball Sphere 52mm 07 US $9.99
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 Rare Bamboo Stone Carved Crystal Healing Gem Ball Sphere 49mm 016 US $8.99
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 Pearl Carved Crystal Skull Gem US $69.95
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 Rare Turquoise Carved Crystal Healing Gem Ball Sphere 53mm 01 US $9.99
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 Rare Red Jasper Carved Crystal Healing Gem Ball Sphere 45mm 023 US $9.99
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 Chatoyant Tiger Eye Gem Carved Crystal Healing Gem Ball Sphere 42mm 07 US $8.99
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 48mm Rare Natural Agate Carving Ball Gem Stone US $8.99
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 Chatoyant Tiger Eye Gem Carved Crystal Healing Gem Ball Sphere 41mm 011 US $9.99
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 Rare Red Jasper Carved Crystal Healing Gem Ball Sphere 45mm 04 US $9.99
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 Rare Red Jasper Carved Crystal Healing Gem Ball Sphere 45mm 024 US $9.99
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 Rare Tiger Eye Gem Carved Massage Wand US $9.99
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 Rare Red Jasper Carved Crystal Healing Gem Ball Sphere 45mm 019 US $9.99
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 Rare Crystal Healing Gem Ball Carving 50mm US $9.99
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 Rare Opal Cat Eye Gem Carved Heart Shape US $8.99
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 Charming 3 Color Cat Eye Gem Sphere Carving Ball US $9.99
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 7 Rare Bamboo Stone Carved Crystal Healing Gem Sphere US $8.00
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 Rare Jade Carved Healing Gem Ball US $6.99
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 20 Rare Bamboo Stone Carved Crystal Healing Gem Egg STAND US $32.77
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 12 Rare Bamboo Stone Carved Crystal Healing Gem Egg STAND US $21.77
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 8 Rare Bamboo Stone Carved Crystal Healing Gem Egg STAND US $12.77
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 6 Rare Bamboo Stone Carved Crystal Healing Gem Egg STAND US $9.77
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 4 Rare Bamboo Stone Carved Crystal Healing Gem Egg STAND US $7.77
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 Beautiful Natural Picture Jasper Carved Skull Gem Stone Rock US $9.99
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 XTRA FINE GEM Tourmalinated Quartz Carved Crystal Skull US $396.00
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 Blue Pietersite Gem carvedSkull SkeletonChatoyant US $12.99
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 AA Beautiful ¼¼¼Rare NATURAL GREEN GHOST QUARTZ Crystal Pendant CARVING GEM US $48.77
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 12 Rare Bamboo Stone Carved Crystal Healing Gem Egg US $11.77
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 BeautifulTigereye gem carved Happiness goddess US $12.99
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 ADULT LIFESIZE Ravens GEM GRADE 15 lb Blue LAPIS LAZULI Carved Crystal Skull US $1,485.00
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 Beautiful Gold blue Tigers Eye LOVE HEART Carving Healing Gem US $24.90
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 73mm Big Chatoyant Labradorite Carving Ball GEM STONE US $998.00
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 Tigereye gem Obelisk Point Carving 132 US $11.99
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 DOG NATURAL TRANSPARENT QUARTZ CRYSTAL CARVING GEM US $77.77
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 45g 8 gourd Amethyst carved GEM US $9.77
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 35g 10 gourd Citrine carved GEM US $9.77
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 Goldfish NATURAL LOVELY QUARTZ CRYSTAL CARVING GEM US $24.99
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 Pair Tigereye gemBottle gourdShape carving US $12.99
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 FINEST NATURAL GEM Ravens Classic Style Citrine Carved Crystal Skull RAINBOWS US $360.00
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 BRILLIANT RUSSIAN GEM AAA Classic Carved Clear Quartz Crystal Skull w RAINBOWS US $369.00
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 EXCEPTIONAL GEM Rutilated Clear Quartz Carved Crystal Skull from RAVEN YOUNGMAN US $72.00
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 39mm15Tigereye Gem Sphere ball carvingCrystal US $15.99
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 Natural 58mm golden swan gems carved ball healing crystals 1211 US $58.99
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 STUNNING 40 Rhodochrosite Carved Crystal Skull Simplified II Gem US $1,139.00
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 Tigereye gem Obelisk Point Carving US $9.99
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True North Gems’ ‘big Red’ Greenland Ruby Occurrence Keeps on Getting Bigger
For many people, the words ‘Big Red’ conjure up fresh breath, but to True North Gems’ (TSX.V:TGX) investors, the phrase itself is a breath of fresh air. The company’s bold flavour is finding favour among investors with its focus on ruby and sapphire exploration and development in Greenland. As per its December 4 news release, the company has wrapped up its 2007 drilling program with the completion of the final four drill holes on the Sarfaq and Ridgetop ruby prospects at its Fiskenaesset Ruby Project. Sarfaq and Ridgetop are on trend from the Aappaluttoq (‘Big Red’) occurrence.
The Fiskenaesset Ruby Project consists of 110km2 of land on the southwest coast of Greenland, about 160km south of the capital Nuuk. True North has an option to own a 100% interest on the claims. The company has actively explored the property since acquiring it in 2004. A mini-bulk sample at the Siggartartulik occurrence taken in 2004 returned 9.73 kg/t total corundum (rubies and sapphires are varieties of corundum), with 1.5% gem and 33.5% near-gem. The gem-grade is 143.76 g/t (718.8 rough ct/t). The company’s final hand and machine sorting of the material from the sample have recently increased the overall grade. A 30-tonne sample contained concentrations of gem-grade ruby and pink sapphire averaging 1,937 g/t (9,685 ct/t).
The objective of the 2007 drilling program, comprising 50 holes on three ruby prospects with a total length of more than 5,000 m, was to deliver a preliminary assessment on the Aappaluttoq ruby and pink sapphire occurrence. One of the positive outcomes of the program was that the company was able to confirm both extensions to the favourable Aappaluttoq Host Zone geology, as well as additional ruby mineralization on surface. Three drill holes at Sarfaq have confirmed distinctive sapphirine-gedrite-phlogopite-pargasite alteration, similar to the Host Zone of the Aappaluttoq occurrence– which is known to contain rubies and pink sapphires.
Independent valuations have priced a 0.69 ct ruby from Aappaluttoq at $3,220/ct, and a 0.96 ct pink sapphire at $460/ct. The best sample contained a large ruby crystal weighing 88g (440 ct), which was carved into the Kitaa Ruby, weighing 302 ct and displaying intricate scenes of Norse oceanic legends.
The company’s 43-101 report suggests that this is just a taste of things to come. It states, “Given the fact that 18 ruby and pink sapphire occurrences are known in the district after only two seasons of reinvigorated exploration, and that the Company has obtained excellent sampling results from three of the six occurrences tested by mini-bulk sample thus far, it is incumbent upon True North to continue the exploration of the Fiskenaesset district”.
This report was released last year and, since then, nine more ruby occurrences have been found at Fiskenaesset, for a total of 29. Over the past three years, 78 tonnes of material have been removed for processing, with 48 tonnes processed to date. Over 65,000 grams of gem and over 129,700 grams of near-gem ruby and pink sapphire have been recovered from the property.
In the wake of tough new sanctions on Burma– the supplier of 90% of the world’s rubies– along with boycotts of Burmese rubies by gemstone manufacturers and prominent jewellery retailers such as Tiffany’s– demand for ethical sources of coloured gemstones has skyrocketed. Nowadays, consumers are willing to pay top-dollar for high-quality, ethically sourced gemstones– as has been proven with the marketing success enjoyed by Canadian ‘Polar Diamonds’. True North plans to apply that same logic to the coloured gem business.
The company has a major advantage in that demand for rubies has been steadily rising while demand for diamonds has been decreasing. According to the company’s Ruby-Diamond fact sheet, in 1988 a top quality ruby weighing 15.97 ct fetched $3.65 million ($228,252 per ct) at auction, while a similarly classed diamond weighing 52.59 ct sold for $7,479,981 ($142,232 per ct). In 2006, however, a ruby weighing 8.62 ct went for $3.6 million ($425,000 per ct)– while a 33.04 ct diamond sold for $1.8 million ($ 54,000 per ct). Keep in mind that the diamonds were on average 3-4 times larger than the rubies in this comparison. As gem-quality stones get larger, their price per carat rises exponentially– even more so in the case of top-quality rubies.
In early November, the company reached an important milestone when it opened its facility in Bangkok where rough gems from the Fiskenaesset will be sort and graded. Bangkok is one of the coloured gemstone industry’s major centres. “With its proximity to the established markets of Europe and the Arab countries, and the new growth areas of China and India, Bangkok is the international marketplace for purchasers of rough as well as polished gems,” noted Nick Houghton, Director and VP Product Development and Marketing in the company’s November 6 news release. “An office in Bangkok allows True North to access the knowledge and opportunities that exist there.”
True North also has the technological advantage– given recent developments in exploration methods and in optic sorting technology. It used to be that the economics of processing favoured hand-sorting of coloured gems in low-wage countries, but these new developments make it possible for the company’s operation to be both ethical and profitable.
These latest developments at Fiskenaesset should give the company’s investors something to chew on in the coming months. To take a line from the ‘Big Red’ jingle– this is definitely one stock to “hold tight a little longer”.
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
