True North Gems Inc.
TSX VENTURE : TGX

True North Gems Inc.

August 24, 2006 09:15 ET

True North Gems Commences Airborne Geophysics on Bandito Nickel Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 24, 2006) - True North Gems (TSX VENTURE:TGX) is pleased to announce the completion of the 2006 ground geological exploration and the commencement of the airborne program for its wholly owned Bandito (formerly known as Corundum Dome) nickel property in the Watson Lake Mining District, Yukon Territory, Canada.

McPhar Geosurveys Ltd. has commenced a low altitude airborne, THEM time domain EM and magnetometer geophysical survey over the Bandito property (see press release June 23, 2006). The survey will evaluate an area of 38 square kilometres at a planned line spacing of 100 metres. The daily project data will be assessed from its forward base of operations in Coal River, British Columbia.

The ground exploration program, conducted by True North Gems' geologists, comprised geological and structural mapping, rock, soil and silt geochemistry, and hand trenching. Soil and silt geochemical samples represent seasonal drainages covering an area of 25 square kilometres. In addition, a total of 163 samples were collected from a detailed grid over the known areas of base metal mineralization. The 650 metre by 300 metre grid utilized a 50 metre line spacing with 25 metre sampling interval. In aggregate, 427 samples, including 34 regional soil samples and 229 stream silt samples were submitted to ALS Chemex in Vancouver for 47 element ICP-MS multi-element analysis using a four acid, near total digestion. Twenty rock samples were collected for petrographic analysis of the mineralization and alteration suite.

Additional specimens of high grade nickel oxide, as Ni arsenate, were identified within brecciated outcrop and scree material within and adjacent to the known anomalous areas. The mineralization exhibited massive aggregates of nickel arsenate with fine wallrock fragments, coarse breccias with fragments to several centimetres, and in veinlets, to 1 centimetre in thickness, within Fe-Mn altered sediments. Copper typically occurred as malachite, copper carbonate oxide, and minor relict chalcopyrite, CuFeS2, in fractures and surface coatings.

"The geological program has confirmed the presence of Ni and Cu mineralization within moderate to intense hematite and manganese oxide alteration envelopes over a strike length of more than 400 metres," said Greg Davison, True North Gems' VP Exploration. "Integration of the pending geochemical and airborne geophysical survey results will focus on the identification of structural elements and geological controls associated with the base metal mineralization, and in particular, the source of the high grade nickel oxide."

The Company is seeking joint venture partners to advance the project.

The planning and execution of the base and precious metal exploration programs at the Company's Canadian properties, including Bandito, are under the supervision of Greg Davison, P.Geo., who is a qualified person as defined by National Instrument 43-101.

True North Gems is a public company listed on the TSX Venture exchange and is engaged primarily in the exploration and development of coloured gemstone deposits in North America and Greenland.

The Company relies on litigation protection for "forward-looking" statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.

Contact Information

  • True North Gems Inc.
    Greg Davison, P.Geo.
    Vice President Exploration
    (604) 687-8055 or 1-800-399-8055
    greg@truenorthgems.com
    or
    True North Gems Inc.
    Greg Fekete
    President
    (604) 687-8055 or 1-800-399-8055
    www.truenorthgems.com