10,050 carat emerald discovered in Zambia

Gemfields Resources PLC (AIM: GEM), the London AIM-listed Zambian gemstone mining and exploration company, announced 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.

“As previously expected, the quality of the emeralds at the Mbuva-Chibolele mine has improved with depth. We are hopeful that we will find further such pockets of emeralds as production continues,” said Peter Kitchen, CEO of Gemfields, commenting from Zambia.