Fura Finds First Drilling Results Encouraging, At Coscuez Emerald Mine
Fura Finds First Drilling Results Encouraging, At Coscuez Emerald Mine.Mining company Fura Gems Inc. has begun a unique diamond core drilling program since May 28, 2018. The program is being undertaken in Columbia, at the Coscuez Emerald Mine in Boyacá. The first 150 m of subsurface core drilling finished on June 2, 2018.
Describing the first results as ‘very encouraging’, Dev Shetty, President & CEO of Fura further said, “This drill program is an important part of the aggressive growth strategy for the Coscuez Emerald Mine and will help to establish our maiden mineral resource and provide better controls on grade as we move toward production.”
The Phase 1 target is set at drilling 2,500 metres before the year end. The uniqueness of the program is the drill collars are located from inside the ore body and plans are to intersect the overburden with angular holes. Also, vertical holes are being considered to study the subsurface continuity of the ore body below -120m level.
The drilling data and bulk sampling results will form part of the maiden mineral resource estimate in the fourth quarter of 2018.
“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,” Dev Shetty noted.
The diamond core drilling program is taking place in the La Paz tunnel within the Coscuez project. Mining at the tunnel has been continuing for over 25 years with 10 levels of development, without any record of a drilling activity in Coscuez, so far. Fura has begun underground drilling at the project, for the first time.
The company also looks forward to drilling from levels: -88, -110, and -120, after geological mapping and tachometric survey of the tunnels.