True North’s strategy is to become one of the World’s leading coloured gemstone production and exploration companies. Our sustainable operations will produce ethically sourced, conflict-free and fully certified coloured gemstones for the World’s most prestigious jewellers.
True North has developed a strategic growth plan aimed at utilizing the significant technical expertise within the Company to create value and ensure a steady supply of rough gemstones reaches the market. This plan has five independent aims:
1. Achieve full production at Aappaluttoq
The Aappaluttoq Mine will be the cornerstone of future True North Operations; providing both cash-flow and stability. Aappaluttoq contains an indicated resource of 296 million carats of corundum within the current pit and a initial mine life of 9 years.
2. Expansion of Near Mine Resources
The deposit hosts a further 109 million carats as an inferred resource, something that is unable to be added to the current mine plan without additional exploration work. Additional ruby bearing rock is known to occur down-dip, below the current mine-pit design, and possibly along strike. Near-pit exploration will be initiated once construction of the mine has been started; and any additional resources will be built into the updated mine-plan.
3. Greenland Regional Exploration
Over the last 10 years the Company have completed extensive regional exploration within the Fiskenaesset District of SW Greenland. In addition to Aappaluttoq the Company have identified a further 68 localities where corundum mineralization exists at surface. Very few of these sites have received advanced geological exploration to date, and none have been drilled. These sites all currently lie within the bounds of the Company’s 100% owned exploration licences and represent significant exploration upside.
4. Worldwide Exploration
The Company continues to evaluate the gemstone projects within its current worldwide exploration portfolio. The majority of these lie within Canada and have the potential to discover new gemstone districts similar to those owned by the Company on SW Greenland.
There are currently numerous small gem producing mines around the world. The majority of these mines are run by small private companies that would benefit from the Company’s exploration and development expertise. Acquiring these producing mines would bring new assets into the Company’s portfolio, create value for shareholders, and expand the Company’s exposure to the Market.