|
RAPAPORT... True North Gems Inc. engaged TetraTech EBA of Vancouver, Canada to update the pre-feasibility study for its Aappaluttoq ruby and pink sapphire project in southwest Greenland. TetraTech is expected to release a revised technical report during the first quarter of 2015. True North's existing pre-feasibility study dates back to 2011, but since that time, the company prepared additional engineering and market analysis studies.
True North anticipates that the new pre-feasibility report will incorporate an updated mine plan, schedule, permit requirements and civil and flow-sheet engineering, along with a new economic assessment with a complete market analysis of ruby and sapphire demand across the luxury goods sector.
Nicholas Houghton, the CEO of True North, said, "The project has progressed since the completion of the 2011 study with the required permitting in place, commencement of site construction, corporate structural changes and a deeper understanding of the upcoming mining operation with the input from our joint venture partner. Recently, there has been a strengthening of the gemstone and luxury goods sector and the updated study will take these factors into consideration, while also providing a current representation of the project for shareholders. We look forward to working again with TetraTech in this update of their original 2011 technical report."
|