True North Gems Inc.

True North Gems Inc.

November 21, 2006 16:41 ET

True North Gems Discovers Polymetallic Geochemical Targets at Bandito Nickel

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 21, 2006) - True North Gems (TSX VENTURE:TGX) is pleased to announce the identification of several polymetallic geochemical anomalies from the recently completed 2006 ground and airborne geological exploration program for its wholly owned Bandito (formerly known as Corundum Dome) nickel property in the Watson Lake Mining District, Yukon Territory, Canada.

The geochemical surveys have confirmed the presence of a strong Ni-As-Cu-Pb anomaly spatially associated with nickel and copper oxides (annabergite and malachite) identified within brecciated outcrop and scree material. The principal Ni-rich anomaly coincides with intense hematite and manganese oxide alteration envelopes over a strike length of more than 750 metres by 600 metres. Additionally, the regional stream silt geochemistry has identified at least six separate new targets associated with one or more of Ni, Cu, Pb, Zn, Co, Bi and As covering a six kilometre N-S strike length. The 2006 silt and soil sampling program yielded values up to 2860 ppm Ni, 4740 ppm Cu, 4670 ppm Pb, 2150 ppm Zn, 346 ppm Co, 277 ppm Bi and 736 ppm As.

A total of 34 soil and 229 silt geochemical samples represent seasonal drainages covering an area of 25 square kilometres. In addition, a total of 163 samples were collected from a 650 metre by 300 metre grid utilizing a 50 metre line spacing with 25 metre sampling interval. In aggregate, 426 samples were submitted to ALS Chemex in Vancouver for 47 element ICP-MS multi-element analysis using a four acid, near total digestion. ALS Chemex employs its own ISO certified testing procedures for quality assurance. Duplicate samples will be submitted to a second commercial laboratory according to True North Gems' in-house QA/QC protocols.

Integration of the geological, geochemical and the airborne geophysical survey data will focus on the identification of coincident structural elements and geological controls associated with the base metal mineralization. The final results from the low altitude airborne, THEM time domain EM and magnetometer geophysical survey completed by McPhar Geosurveys Ltd. are pending. Compilation of historical exploration data from the recently acquired MGM claim (see press release, June 30, 2006) is underway.

"To date, the 2006 ground exploration program has enhanced the discovery of an excellent base metal target and, with polymetallic values identified from several new geochemical anomalies, the Company will design an aggressive 2007 summer exploration program to investigate the source of the metals," said Greg Davison, VP Exploration.

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
    True North Gems Inc.
    Greg Fekete
    (604) 687-8055 or 1-800-399-8055