Ammolite is only found in the Bearpaw Formation. This formation extends from Alberta to Saskatchewan in Canada and south to Montana in the US. It is the fossilized shell of ammonites. Ammonites lived in the Bearpaw Sea during the Late Cretaceous period. Although fossilized ammonites can be found in various locations around the world, ammolite comes solely from this location. For Ammonite to become an ammolite gemstone it has to be buried quickly, be deprived of oxygen, protected from heat and excessive weight, and not be scavenged.
Ammolite is fairly new to the market. It has only been introduced within the past 70 years. It can come in a variety of colors. Red and green are the most common. Blue and violet are the rarest colors.