American Gem expands resource

Infill drilling and trenching on American Gem’s (TSE) land holdings in Montana have led to a 24.5% increase in sapphire resources.

The work, supervised by Toronto-based Watts Griffis & McOuat, outlined an additional 12.3 million carats, bringing the total resource to 62.9 million carats.

In addition to substantial increases in the resource base, the quality of the resource was enhanced.

Of the total reserves defined to date, 47.7 million carats occur on the Gem Mountain property near Philipsburg. Furthermore, these sapphires occur at very shallow levels, just underneath the grass cover.

In addition, testing at Dry Cottonwood Creek uncovered a previously unknown sapphire resource in the upper drainage areas.

American Gem has so far tested less than 5% of its holdings in Montana.