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TGX True North Gems Inc

0.065
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
True North Gems Inc TSXV:TGX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.065 0.04 0.065 0 12:01:04

True North Gems Files Pre-Feasibility Study Technical Report for Aappaluttoq Ruby Deposit

16/06/2011 12:13am

Marketwired Canada


True North Gems Inc. (TSX VENTURE:TGX) (the "Company") is pleased to announce
that it has filed a technical report as required under National Instrument
43-101 that summarizes the pre-feasibility study prepared by EBA Engineering on
the Aappaluttoq Ruby and Pink Sapphire Project in Southwest Greenland. This
report details the results of the pre-feasibility study first reported by the
Company in a news release dated June 1, 2011.


The report is available on SEDAR (http://www.sedar.com) and is also posted on
the Company's website (http://www.truenorthgems.com).


True North Gems Inc. is listed on the TSX Venture Exchange and is engaged in the
exploration and development of Greenlandic and North American coloured gemstone
prospects. The Company is a pioneer in coloured gemstone exploration and,
currently in Greenland, has the rights to earn 100% interest in the Aappaluttoq
ruby and pink sapphire project, holds a 100% interest in the Tsa da Glisza
emerald property, Yukon, and the Beluga sapphire property located on Baffin
Island, Nunavut. True North's prime focus remains the commercial advancement of
the Aappaluttoq Ruby Project in Greenland.


This document contains "forward-looking information" and "forward-looking
statements" (together, "forward-looking statements") within the meaning of
applicable securities legislation, which are made as of the date of this
document or the document(s) referred to herein. Statements that express
predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words or phrases
such as "expects", "anticipates", "plans", "projects", "estimates", "intends",
"strategy", "goals", "objectives" or variations thereof or stating that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be forward-looking
statements. Forward-looking statements include, without limitation, statements
with respect to: the amount of mineral reserves and mineral resources; the
amount of future production over any period; net present value and internal
rates of return of the proposed mining operation; capital costs; operating
costs; strip ratios and mining rates; and mine life. The forward-looking
statements are made based upon certain assumptions which, if untrue, could cause
the actual results, performances or achievements of the Company to be materially
different from future results, performances or achievements expressed or implied
by the forward-looking statements.

These assumptions include, without limitation: the price of gemstone products
produced; anticipated costs; the presence of and continuity of gemstones at
modeled grades and values; the capacities of various machinery and equipment;
the availability of personnel, machinery and equipment at estimated prices;
exchange rates; appropriate discount rates; tax rates applicable to the proposed
mining operation; financing structure and costs; anticipated mining losses and
dilution; gemstone recovery rates; reasonable contingency requirements; and
receipt of regulatory approvals on acceptable terms. By their very nature,
forward-looking statements involve inherent risks and uncertainties that could
cause actual results, performances or achievements to differ materially from
those in the forward-looking statements. These include, without limitation:
price volatility, discrepancies between actual and estimated production, mineral
reserves and resources and metallurgical recoveries, mining operational and
development risks, regulatory restrictions (including environmental regulatory
restrictions and liability), activities by governmental authorities (including
changes in taxation), currency fluctuations, the speculative nature of gemstone
exploration, the global economic climate, dilution, share price volatility,
competition, loss of key employees; additional funding requirements and
defective title to mineral claims or property). This list is not exhaustive. See
also, for example, the risks disclosed in the Company's other disclosure
documents filed at www.sedar.com, including, without limitation, those disclosed
in the Company's management's discussion & analysis. The Company expressly
disclaims any intention or obligation to update or revise any forward-looking
statements, except as otherwise required by applicable securities legislation.


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