Sapphires worth big money
After studying rock samples from its Beluga Property near Kimmirut, True North Gems of Vancouver has found that digging for sapphires could be worth big money.
Geologist and gemologist Warren Boyd noted that the Blue Sapphires found at the deposit are especially valuable. These naturally blue sapphires could be worth about $570 per tonne of rock. That’s up to three times the value of natural yellow sapphires and about 13 times the value of naturally colourless sapphires also found at the site.
“The quality and spectral intensity of the Blue Sapphires… from the Beluga Property was of world class calibre and comparable to some of the better quality sapphires produced from deposits in Sri Lanka, Thailand, Cambodia, Africa, Australia and China,” Boyd wrote after studying the rocks.
Most sapphires are treated to reach the brilliant sapphire blue colour. Untreated, natural rocks can fetch a big premium.
True North Gems currently has a lease-option on 9.9 square kilometers of land near Kimmirut and must spend at least $390,000 in exploration before 2007 to earn a 100 per cent interest in the property.