Fossil a rare and unusual substance that is a fossilized form of the mineral aragonite. Ammolite comes from the ammonite fossil. Ammonite fossils are ancient shells that inhabited a shallow sea that covered southern Alberta, Canada between 70 and 135 million years ago. It is a multi-color organic gemstone that comes in green, red, yellow, orange and more rarely in blue and purple. The best ammolite stone will have very bright colors. The brighter and more lively a stone, the better. More description in last photo.