22nd Feb 2010 07:10
Gemfields PLC
Discovery of an exceptional 6,225 carat Zambian emerald
7:00 am, 22 February 2010
Gemfields PLC ("Gemfields" or "the Company", AIM:GEM) today announces the discovery of a 6,225 carat rough emerald at its Kagem mine in Zambia
The emerald was recovered during normal mining operations on 5 February 2010 and is being examined by Gemfields' experts to establish a clearer understanding of its value and significance. They will continue to evaluate the gem before any final decision is taken in terms of its future.
The emerald has been named "Insofu" (or "elephant" in the vernacular of the Bemba people indigenous to this region) in consideration of its size and in honour of the World Land Trust's "Wild Lands Elephant Corridor Project", of which Gemfields is a participant.
Ian Harebottle, CEO of Gemfields, commented:
"This is a unique find. The Insofu displays wonderful colour and good translucency. Its sheer size, rich colour and fine protective biotite shell make it difficult to see deep into the gem. However, all indications suggest that the core of the emerald is competent and that it should yield a number of cut gems of significant size."
Photographs of the emerald can be viewed at http://gemfields.co.uk/ image_gallery11.asp
ABOUT GEMFIELDS EMERALDS
Gemfields, one of the world's leading coloured gemstone producers, is positioned at the intersection of exploration, mining and marketing. The Kagem mine lies in the heart of the breathtaking Zambian landscape, a constant reminder of the miracles of our planet and a perfect fit with the beauty of its emeralds.
Unsurprisingly, natural, untreated gems are at the heart of Gemfields business, whose focus is on the consistent supply of ethically-produced emeralds and which sets new standards for fair-trade, environmental, social and safety practices in this industry. Gemfields' unique mine-to-market capabilities support the guaranteed provenance of every gem through a full disclosure and certification program: the keystone of its promise to both the gemstone trade and the consumer.
Enquiries:
Gemfields [email protected]
Dev Shetty, CFO +44 (0)20 7518 3402
Canaccord Adams Limited
Nominated Adviser and Joint Broker to Gemfields
Mike Jones/Tarica Mpinga/Andrew Chubb +44 (0)20 7050 6500
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