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Fura Gems Inc.
Summary
| Project: | Montepuez-Ancuabe | |
|---|---|---|
| Deposit: | Montepuez-Ancuabe | |
| Location: | Mozambique | |
| Commodities: | Ruby | |
| Date: | 11/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-11-2017: Fura Gems Inc. announces a Supporting Acquisition report for its Montepuez-Ancuabe deposit at the Montepuez-Ancuabe project. Summary of properties in support of acquisition. Northern Mozambique has gained attention for its rubies since a major | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ricardo Valls (Valls Geoconsultant) | |
| ABSTRACT: | Northern Mozambique has gained attention for its rubies since a major discovery near Montepuez in 2009 (http://ow.ly/EmCS30fbPak). Until the arrival of Gemfields Plc (“Gemfields”) in 2012, nearly all the production from this deposit came from unlicensed miners, known as garimpeiros. Between 2012 and 2016, Gemfields began to control the ruby trade, supplying the market through regular auctions in Singapore and Jaipur. In 2016, two new players acquired ruby mining licenses around Montepuez: Mustang Resources and Metals of Africa, followed by Redstone Resources and Reigis Resources. This technical report documents a summary of scientific and technical information concerning gemstone potential with emphasis on ruby mineralisation, its development, and production activities status of exploration licenses 4392L, 6811L, 3868L and 3869L (the “Licenses”) in Montepuez, for Fura Gems Inc. (“Fura Gems”, the “Client” or the “Company”). The study area is well known for commercial as well as artisanal production of rubies and there is a potential for emeralds mineralisation as they occur in similar geological environment. Rubies have historically been artisanal mined from the the Property (as defined below). A ruby is a pink to blood-red colored gemstone (Al2O3:Cr), a variety of the mineral corundum (aluminum oxide). Other varieties of gem-quality corundum are known as sapphires. A ruby is one of the traditional cardinal gems, together with amethyst, sapphire, emerald, and diamond. The color of a ruby is due to the element chromium. | |
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