Modern Mining August 2015

RUBIES

Maiden resource a milestone for

Gemfields, whose shares trade on London’s AIM, has announced the publication of a Competent Persons Report (CPR) produced by SRK Consulting (UK) Limited on the Montepuez ruby mine in Mozambique, which is 75 %-owned by Gemfields and 25 % by local partner Mwiriti Limitada. The CPR includes Montepuez’s maiden mineral resource and ore reserve estimates, prepared in accordance with JORC Code (2012), and also details a planned significant expansion of operations at Montepuez which will see a new process plant being constructed and the mining fleet expanded. Ian Harebottle, CEO of Gemfields, describes the resource statement as a “milestone event” for the mine.

T he resource statement estimates Montepuez’s indicated and in- ferred mineral resources at 467 million carats of ruby and corun- dum at an in-situ grade of 62,3 carats per tonne (ct/t). This consists of an in- dicated resource of primary mineralisation of 2,1 Mt or 245 million carats at a grade of 115,4 ct/t; an inferred resource of primary mineralisation of 0,4 Mt or 44 million carats at a grade of 115,4 ct/t; and an indicated mineral resource of secondary mineralisation of 5,0 Mt or 178 million carats at a grade of 35,7 ct/t. Probable ore reserves are put at 432 million carats of ruby and corundum at a diluted ore

grade of 15,7 ct/t. These reserves comprise a probable primary ore reserve of 2,2 Mt or 253 million carats at a grade of 114,9 ct/t; and a probable secondary ore reserve of 25,3 Mt or 179 million carats at a grade of 7,07 ct/t. “As the first recorded mineral resource and ore reserve statement for Montepuez, the significance of this report is not only a mile- stone event that bears testament to the quality of work carried out by SRK and the expertise from within the Gemfields team, but provides further evidence to the continued growth, positive momentum and opportunity inher- ent within the coloured gemstone sector,” comments Gemfields’ Harebottle.

The 100 t/h wash plant. Gemfields is planning to expand capacity at Montepuez to 320 t/h by upgrading this plant and building a new permanent process plant.

24  MODERN MINING  August 2015