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FURA Gems

Fura Gems unveils maiden resource estimate for Coscuez Emerald Mine

The precious stones miner said the resource estimated that the Coscuez mine contained around 3mln tonnes of inferred mineral resources at a grade of 2 carats per tonne

Emeralds
The Coscuez estimate is the first in the Colombian emerald sector

Fura Gems Inc (CVE:FURA) has unveiled a maiden mineral resource estimate for the Coscuez emerald mine in Colombia, in which it holds a 76% stake.

The precious stones miner said the resource estimated that the Coscuez mine contained around 3mln tonnes of inferred mineral resources at a grade of 2 carats per tonne for a total of 6mln carats at a conservative value of US$200 per carat.

READ: Fura Gems Inc raises $5.2mln in private placement to fund development of assets in Colombia and Mozambique

Dev Shetty, president and chief executive of Fura, said the group had already recovered nearly 16,000 carats of emeralds from bulk sampling activities, with the resources estimate providing “additional confidence to the geological understanding, emerald distribution and the potential value of the stones we have recovered”.

“This historic mine's maiden Mineral Resource estimate is a significant milestone for the Company. We look forward to upgrading the resource estimate to a higher category in the upcoming year.”

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Price: $0.19

Market: TSX-V
Market Cap: $25.68 m
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