Explore The World of Ammolite Jewelry Ammolite is an iridescent, multi-colored gemstone found mainly in Canada. Although ammolite appears opal-like, it is an organic gemstone that is the fossilized shell of ammonite, an extinct mollusk. Ammolite is one of the rarest gemstones because the current supply of ammolite is limited and it's estimated that only 5% of the world's ammolite is gem-grade and usable. In this blog, we will discuss the properties of ammolite, along with its healing attributes, and legends related to this gem which make it a great treasure.