GEM STUDY: True North files PFS for Aappaluttoq deposit

GREENLAND - Vancouver's True North Gems has filed the pre-feasibility study on its Aappaluttoq ruby and pink sapphire project in the southwest part of the country. The report was prepared by EBA Engineering.

The project will involve the development of an open pit mine having a life of nine years and a processing facility along with associated infrastructure at Aappaluttoq. A single 47-t excavator and four 35-t articulated trucks will handle the ore. Processing will consist of a crushing, screening and jigging circuit. Operators will hand pick the visible gems. Overall site recovery is anticipated at 95%.

True North will also build a corporate office and ruby sorting house in the Greenland capital of Nuuk.

The total preproduction capital expenditure will be $37.4 million, and another $3.3 million is expected for sustaining capital.

The PFS is posted on the SEDAR website, www.SEDAR.com.