SME Guide For Reporting Exploration Information, Mineral Resources and Mineral Reserves

The 2017 SME Guide for Reporting Exploration Results, Mineral Resources, and Mineral Reserves has been adopted by the Society for Mining, Metallurgy, and Exploration, Inc. (SME) and is therefore strongly recommended to be used by members of this organization.

The Guide is recommended as a minimum standard for reporting Exploration Results, Mineral Resources and Mineral Reserves for public and private purposes. In terms of the Guide, Public Reports are reports prepared for the purpose of informing investors or potential investors and their advisers on Exploration Results, Mineral Resources or Mineral Reserves.

Montepuez’ GEMFIELDS rubi mine – newest updates on the world’s single largest ruby and corundum deposit

Discovered in 2009, Montepuez (Mozambique) is the world’s single largest ruby and corundum deposit. GEMFIELDS acquired a 75% interest in the concession in June 2011 from Mwiriti Lda. Montepuez Ruby Mining Lda (“MRM”) is the project operator and a joint venture between Gemfields and Mwiriti Lda. GEMFIEDLS released two documents on Montepuez by SRK Consulting.

According to the Reserves and Resources presentation:

  • 16 million carats (“mct”) produced to date.
  • To date a total of USD55 million has been invested , generating current total revenue of USD122 million.