True North Gems Inc. is pleased to announce that, further to its news release dated February 25, 2015, it has filed an independent National Instrument 43-101 compliant technical report on the Aappaluttoq Ruby and Pink Sapphire Project in Southwest Greenland.
True North contracted Tetra Tech of Vancouver as independent engineers to review the project and complete the NI 43-101 technical report. This report has been filed on the SEDAR website at www.sedar.com and on the Company's website at www.truenorthgems.com. The report includes details on the mine economics, production scheduling, engineering, permitting, and gemstone valuations.
"This independent report illustrates the robust economics of the Aappaluttoq Project, and validates the time and effort everyone has contributed to date," stated Nicholas Houghton, President and CEO of True North. "The filing of this pre-feasibility study enables our shareholders and future investors to assess the updated information, better understand the project's cost structure, and see the growth potential of the gemstone sector."
The construction teams continue to make excellent progress at the Aappaluttoq Mine Site. Work of note since the last construction update of January 29, 2015, includes:
- Approximately 1000m of additional work track has been constructed; this runs from the mine camp uphill towards the explosive storage depot and site of the future processing plant.
- The siting and installation of camp accommodation and office modules and completion of all foundation work for the mine camp. Sub-floor work including insulation, plumbing and electrical installation will progress over the coming weeks.
- Workshop and process plant construction and other long lead construction materials have been ordered and the delivery timelines inserted into the project workflow.
- 17 Greenlandic staff are currently on-site.