Fura Gems Inc. on Dec. 12 published the maiden mineral resource for its 76%-owned Coscuez emerald mine in Colombia, which is also the first mineral resource estimate in the country for emeralds.

The company reported an inferred mineral resource estimate of 3 million tonnes at 2.0 carats per tonne containing 6 million carats of emeralds, at a conservative price of US$200 per carat. The mine is also estimated to have a 30-year life.

Fura Gems mapped more than 20 kilometers of existing underground tunnels, completed more than 1,600 meters of core drilling, and recovered nearly 16,000 carats of emeralds from bulk sampling activities to deliver the maiden mineral resource estimate of Coscuez.

The company acquired its stake in Coscuez in January through the acquisition of 76% of Esmeracol SA for US$10.2 million.