Latest News
- The Quiet Summer of 2011, and Honest Work
- Respectable Showing For the Diamond Sector at PDAC 2011
- PDAC 2011 – this March
- Promising Diamond Find by Metalex in Northern Ontario, Plus Grades from Chidliak and Movement at Renard
- Peregrine Finds 1.15 Carat Diamond at Chidliak
- Stornoway Diamond Corp. Works to Expand Resources at Renard Project
- 2010 Toronto Resource Investment Conference
- Newsworthy Week For Canadian Diamond Companies
- Different Types of Diamonds at Fort à la Corne
- Kimberlites and Diamonds of Western Canada
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GeoCanada 2010
Posted by David
Hi all,
Sorry for the lack of a recent post. I’ve been at GeoCanada 2010 in Calgary, Alberta until this week. Although dominated -unsurprisingly, by the petroleum industry, the talks, posters, and courses on hard-rock geology at the conference were well-attended. The kimberlites, cratons, and diamonds session was standing room only for the entire day. Other factors of economic geology that were visbile included uranium and hydrothermal ore deposits.
Both industry and academia were well-represented. Although nowhere near the scale of the PDAC conference, GeoCanada had a more technical, and less economic bent, with individuals from universities, mining corporations, and service providers rubbing shoulders.
A new posting on diamonds relating to the conference is on its way. Being that the conference was in Alberta, the kimberlite clusters of Fort a la Corne and the Buffalo Head Hills were much discussed and will be mentioned in the upcoming post.
Canadian Sapphire for Sale
Posted by David
After years of exploration and deposit evaluation. True North Gems Inc. has announced that they will sell a limited inventory of gem-quality sapphire from their Beluga property on Baffin Island, Nunavut. This inventory comprises polished gems (1.17 c example pictured below with an example of the ore material) accumulated from numerous sampling and processing programs.
The gems will be exclusively sold through a small Canadian company: Alpine Gems (http://alpinegems.ca/) and will be available for sale to the general public soon.
True North Gems -while a unique and promising Canadian junior, has been previously characterized by slow progress and an undedicated management team. Hopefully, the recent changes in leadership (see an earlier KIM Report article) have catalyzed progress of the company in obtaining some cash influx in the form of gemstone sales.
If TGX can pull off the same with stockpiles of rough and polished gems (corundum and beryl) from their Fiskenaesset (ruby) and Tsa Da Glisza (emerald) properties, then shareholders will be reassured that management is dedicated to the advancement of the company and its projects. The most important of these is the Greenland ruby project at Fiskenaesset.
From the information available TGX management has made the right decision in choosing only to sell gems from the Beluga property at this time as Tsa Da Glisza -although the company’s first gem project, has been on the back burner for some time and the Greenland project, although having much more potential than the other two projects, has encountered problems with a native group and delays in obtaining permits from the government that would allow them to sell their considerable stockpiles of pink sapphire and ruby from there.
Disclaimer: The author holds shares of TGX. This article is based on the opinions and experience of the author. Please conduct due diligence when investing. ©KIM Report 2010 www.kimreport.com