A gyrocompass is designed to find and point to true north, however in this case I think there is too much friction, and not enough rotational inertia for it to work.
I'll run through the theory and build anyway, and maybe somebody will have a suggestion to get it working? or will be able to build one better!
What it does now, is look really cool, spin up to around 12,000 rpm, and maintain its current heading. Because it maintains its heading while the base is moved, the degree markings can be used to obtain the new heading with respect to the original. In this way it can be used as a dead reckoning navigator. It is also very educational, I already knew theoretically how a gyro worked, but this puts it into perspective a lot better.
What you need:
2 hard drives
Assorted materials to create brackets/gimbals, I used brass and aluminium
Depending on your hard drive circuitry, you may also need a BLDC motor controller.
Hand tools for dissasembly/assembly (hard drive take torx head screwdriver bits)
Metal working equipment to make brackets and gimbals