GEM RIVER BRANCHES OUT Gem River Corp., Grand Rapids, Mich., and Emkay International Inc., New York, N.Y., have agreed to jointly develop a consumer awareness program focusing on multicolored sapphires from the U.S. The agreement also calls for Emkay to market on a national level the sapphires that Gem River mines in southwestern Montana. (Gem River will continue to sell to exclusive overseas accounts.) The agreement establishes a two-tiered brand system: Gem River Sapphire(tm), for the highest value, premium grade sapphires. Montana Sapphire(tm), for fine and very good quality sapphires. Tom Lee, president and chief executive officer of Gem River, has developed the project over several years. Several hundred thousand carats of fine material have been cut already or will be cut soon, he says. "We have a very rigid culling view because we want