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Fura Gems files maiden resource estimate for Coscuez mine, a first for Colombian emerald sector

In December last year, the precious stones miner said the project contained around 3 million tonnes of inferred

Pictured are emeralds
The Coscuez project is an emerald mine in Colombia

Fura Gems Inc (CVE:FURA) told investors it had now filed the previously announced maiden resource estimate for the Coscuez emerald mine in Colombia, in which it holds a 76% stake.

In December last year, the precious stones miner said the project contained around 3 million tonnes of inferred mineral resources.

READ: Fura Gems unveils maiden resource estimate for Coscuez Emerald Mine

That was at a grade of 2 carats per tonne for a total of 6 million carats at a conservative value of US$200 per carat.

The NI 43 101 report was the first of its kind at an emerald deposit in Colombia.

Dev Shetty, the 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 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," he had said.


Contact Giles at [email protected]

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Price: 0.17 CAD

Market: TSX-V
Market Cap: $46.25 m

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