The legend of Ammolite goes back to the Blackfeet tribe of North America. Blackfeet Indian legend has it that the Ammolite sacred stone was a gift received from the gods. It’s powers saved the tribe amidst a severely harsh winter with a blizzard wiping out all the Blackfeet Indian's food reserves. . Through the aid of Ammolite, a gift from the gods, the Blackfeet were able to survive that particularly harsh winter. And ever since, Ammolite has been commonly referred to as the “buffalo stone”, as it signifies wealth and abundance.

In 1908 a member of the National Geological Survey team found mineralized fossils of ammonite along the St. Mary's River in Alberta. It was not until 1981 that enough high quality Ammolite was discovered to make mining commercially viable. KORITE continues to operate the world's largest Ammolite mine at this site.