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Gemfields Plc
Summary
| Project: | Montepuez | |
|---|---|---|
| Deposit: | Montepuez | |
| Location: | Mozambique | |
| Commodities: | Ruby | |
| Date: | 1/21/2019 | |
| Report Code: | SAMREC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-1-2019: Gemfields Plc announces a Resource Estimation report for its Montepuez deposit at the Montepuez project. Updated mineral resource and ore reserve estimate at the project. SRK Consulting (UK) Limited (SRK) is an associate company of the internat | |
| Resources: | (Reserve, Prob.): 21629Kt @ 0.91ct/t Ruby | |
| CP/QP: | [Resources]: Lucy Roberts, James Haythomthwaite (SRK Consulting (UK) Ltd.) | |
| ABSTRACT: | SRK Consulting (UK) Limited (SRK) is an associate company of the international group holding company, SRK Global Limited (the SRK Group). SRK has been commissioned by Pallinghurst Resources Ltd (“Pallinghurst”), later renamed as Gemfields Group Limited (“GGL”), hereinafter also referred to as the “Company” or the “Client”) to undertake an update of the Competent Persons Reports (CPRs) for the assets of Gemfields Plc (“Gemfields”) that SRK authored in 2015. Gemfields is now a 100% subsidiary of GGL, and renamed as Gemfields Ltd. This CPR relates to the Montepuez Ruby Mine (“Montepuez”, “MRM”, or “the Mine”) in Mozambique. Montepuez Ruby Mining Limitada is the mine operator and is 75% owned by Gemfields. SRK has been requested by Pallinghurst to base the CPR on the MRM life of mine plan (LoMp) reviewed and adjusted by SRK where appropriate. This CPR has been prepared to support the reporting of Mineral Resources and Mineral Reserve estimates in accordance with the South African Code for the reporting of exploration results, Mineral Resources and Mineral Reserves (the SAMREC Code or SAMREC), 2016 Edition. The Lead Competent Person (CP) with overall responsibility for this CPR is Mr Mike Beare CEng BEng ACSM MIMMM, a Corporate Consultant (Mining Engineering) with SRK. Mr Beare has 23 years’ experience in the mining industry and has been extensively involved in the reporting of Mineral Reserves on various diamond and gemstone projects during his career to date. The CP confirms that this Executive Summary is a true reflection of the full CPR. 2 PROJECT DESCRIPTION The Montepuez Ruby Mine is located in Cabo Delgado province in north-eastern Mozambique, approximately 170 km west of Pemba. The Montepuez deposits were discovered in 2009 where after there was a large influx of artisanal miners to the area. Gemfields’ involvement commenced in June 2011 when a Joint Venture agreement was signed between Gemfields Plc and Mwiriti Lda, the original title holder | |
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