True North to Update Aappaluttoq Pre-Feasibility Study
January 07, 15
(IDEX Online News) – True North Gems Inc. is to update the pre-feasibility study (PFS) for the Aappaluttoq ruby and pink sapphire project in southwest Greenland. TetraTech EBA of Vancouver has begun work and expects to issue an updated technical report during the first quarter of the year.
|
|
The current PFS was completed in 2011 and has been augmented by additional engineering and market analysis studies. These studies will be incorporated in the new PFS, which will also include an update of the existing mine plan and a new economic assessment incorporating a complete market analysis to assess the positioning of Greenland gemstones in the luxury goods sector.
True North CEO and president Nicholas Houghton said the Aappaluttoq project has progressed since the completion of the 2011 PFS with the required permitting in-place, commencement of site construction, corporate structural changes, and a deeper understanding of the upcoming mining operation.
“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,” he added.