Characteristics: Ammolite is an organic gemstone consisting of intensely hued bits of rare, mineralized fossil shell called aragonite. Similar to today's chambered nautilus, the mollusk "ammonite" became extinct more than 70 million years ago. Gem quality Ammolite is iridescent and will show different color combinations when viewed from different angles. It is usually a mix of red, green, orange and gold which is considered good Feng Shui but can also be found in shades of blue and purple. Ammolite is recognized as a gemstone in 1981 by the international colored gemstone commission. Ammolite has a hardness of 4 on the Mohs scale and is only found in Southern Alberta Canada.