Finally the 43-101 filed. Showing very significant EMERALDS
deposits which promise high revenue for years to come. The assays don't lie.
Next step-begin Production??
“Fura” or the “Company”) is pleased to announce the filing of its National Instrument 43-101 (“NI 43-101”) compliant technical report (the “Technical Report”). This follows the Company’s press release issued on December 12, 2018 announcing the maiden Mineral Resource estimate for its 76% owned Coscuez emerald mine in Colombia (the “Coscuez Emerald Mine”, or “Coscuez”). The Technical Report supports the scientific and technical disclosure in the Company’s news release dated December 12, 2018, the highlights of which are below.
Highlights
Maiden Inferred Mineral Resource estimate at Coscuez Mine is in accordance with the NI 43-101 and the first of its kind at an emerald deposit in Colombia.
Activities to deliver the Mineral Resource estimate included:
Mapping of more than 20 km of existing underground tunnels;
Completion of more than 1,700 m of core drilling; and
Recovery of nearly 16,000 carats of emeralds from bulk sampling activities.
Inferred Mineral Resource estimate:
3 million tonnes of Inferred Mineral Resources;
Grade of 2.0 carats per tonne;
6 million carats contained;
Estimated life of mine for Coscuez of 30 years;
Conservative case price of USD$200/carat; and
Estimate prepared and classified by WGM, an independent group of consulting geologists and engineers based in Toronto, Canada.
The Technical Report entitled “Technical Report on the Coscuez Emerald Mine, Boyaca Department, Colombia for Fura Gems Inc.”, dated January 23, 2019, was prepared for Fura by Harrison Cookenboo, Ph.D., P.Geo., APEGBC, NAPEG, APEGS, OGQ, Warren F. Boyd, B.Sc, FGA, FCGmA, FGAC, Gemmologist – Geologist and Ross MacFarlane, P.Eng., Senior Associate Mining and Metallurgical Engineer, each from the independent group Watts, Griffis and McOuat Limited (“WGM”), and is available under the Company’s profile on SEDAR at www.sedar.com and on the Company's website atwww.furagems.com.
Qualified Person
Dr. Harrison Cookenboo, Ph.D., P.Geo., is a Qualified Person as defined by NI 43-101 and is independent of Fura. Dr. Cookenboo is responsible for reviewing and approving this Mineral Resource estimate. He has verified, reviewed and approved the technical data contained in this news release.
