Investors in True North Gems (TSX.V: TGX) were treated to a rare gift this Christmas past when the company reported the discovery of a new sapphire prospect complete with a 139 carat blue sapphire on its Beluga sapphire property in Nunavut, Canada.

As per its December 4 news release, True North Gems has wrapped up its 2007 drilling program with the completion of the final four drill holes on the Sarfaq and Ridgetop ruby prospects at its Fiskenaesset Ruby Project.

True North Gems (TSX.V: TGX), being the only publicly traded company in North America and one of only a handful in the world trading in coloured gemstones, is finding some of the most precious gems in the world.