Fura Gems collects ruby samples in Mozambique, expects mining in 2H
Source - SMW
Fura Gems said a drilling program at four ruby licenses in Mozambique was expected to be completed on or before June 30, with the bulk of mining expected to commence in the second half of 2018.
A total of 399 non-core bore holes had so far been drilled and 627 wash samples completed. Out of the 399 bore holes, 49 positive bore holes of gravel bed, or secondary ruby mineralisation, had been intersected.
Out of 627 wash samples, a total of 316 samples were processed and sorted. The wash results generated 926.1 carats of ruby, corundum and garnets.
'Within four months of acquiring our Mozambican ruby licenses, we have managed to recruit the key management team, set up infrastructure facilities and deliver 50% of the drilling results from phase 1 of our drilling program,' chief executive Dev Shetty said.
'The initial findings from our drilling program have been encouraging with both secondary gravel bed and primary amphibolite reported. The finding of rubies and corundum from the samples further confirms our understanding of the geology.'