20th Aug 2007 07:00
20 August 2007 Gemfields Resources PLC ("Gemfields" or "the Company") 10,050 Carat Emerald Discovered
Gemfields Resources PLC (AIM: GEM), the AIM-listed Zambian gemstone mining and exploration company, today announces that a 10,050 carat emerald was discovered last week at the Company's 100% owned Mbuva-Chibolele emerald mine.
The stone was part of a pocket that was mined in the M3 area from the reaction zone of the hanging wall pegmatite approximately 40m from the surface. It is a 10cm long hexagonal crystal. Photographs of this stone and others found recently can be viewed on the Company's website at www.gemfields.co.uk.
The Mbuva-Chibolele project is one of two producing mines in the Company's portfolio. Trial mining commenced at Mbuva-Chibolele in July last year and has so far produced nearly $2 million of revenue.
Commenting from Zambia, Peter Kitchen, CEO of Gemfields said: "We are very encouraged by finding such a large stone at the Mbuva-Chibolele mine. As previously expected, the quality of the emeralds has improved with depth. We are hopeful that we will find further such pockets of emeralds as production continues
For more information:
Peter Kitchen, CEO [email protected]
Richard James, CFO [email protected]
Gemfields Resources Plc Tel: +44 (0)20 7016 9416
Robin Birchall/Ryan Gaffney +44 (0)20 7050 6500
Canaccord Adams Limited
Jos Simson/Ed Portman Tel: +44 (0)20 7429 6666
Conduit PR
GEMFIELDS RESOURCES PLCRelated Shares:
Gemfields Grou.