This is a fragmented market, with undeveloped licences (some with historic production) held mostly by private individuals, and is ripe for consolidation.
The overall area currently and historically in production is relatively small compared to the prospective areas of the two recognised Emerald Belts. We believe that further large finds are very likely and so have focused on building an exploration portfolio.
Typically the large new emerald finds in the region have been accidental. Very little traditional exploration has been done in the area, due to the variability of the quality emerald formations.
There is the potential to use latest technology: soil sampling, electromagnetic surveys, existing historical data re-interpretation to substantially improve the probability of discovery of a new emerald mine area or district.
Our strategy will be to select key areas with similar geological character to the major marque mines, and carry out geochemical and geophysical exploration to support traditional discovery by prospecting.
Our preferred exploration area is located in the Muzo-Coscuez Western Emerald belt that includes the mines of Muzo, Penas Blancas, Coscuez, La Pita, Cunas and Las Pavas. This belt holds an unparalleled reputation in the emerald business and is the most productive region within Colombia for emerald production.