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Fura Begins Drilling At Coscuez To Estimate Emerald Resource

Coloured gemstone producer Fura Gems Inc. has begun drilling at its Coscuez emerald mine in Colombia to estimate its mineral resource and also get better control of its output grades.

Company Chief Executive Dev Shetty commented, “Initial results have been very encouraging. This drill program is an important part of the aggressive growth strategy for the Coscuez mine and will help to establish our maiden mineral resource and provide better controls on grade as we move towards production. I am confident that every activity that we undertake in advancing the project to full production will generate value for the company and its shareholders, as well as for the emerald sector in Colombia.

The diamond core drilling program commenced on May 28 in the mine’s La Paz tunnel and a total of 2,500 metres of drilling are expected to be completed in the first phase. The La Paz tunnel has been actively mined for 25 years with 10 levels of development, yet no drilling activity has been recorded to date in Coscuez. The unique drilling program from within the tunnel will drive angular holes upward to the overburden from within the tunnel. Vertical drill holes from above will then be used to sample ore grades along the angular internal drill holes from the tops of their slopes to the bottom.

The program will deliver data on the strike and depth continuity of the emerald hosting rock and help identify new targets for prospective mining.

The first phase is expected to be completed by the end of this year.

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