Sign up Australia
Proactive Investors - Run By Investors For Investors

Cluff Resources Pacific NL confirms 224 carat ruby crystal from Madagascar

Cluff Resources Pacific NL confirms 224 carat ruby crystal from Madagascar

Cluff Resources Pacific NL (ASX: CFR) has discovered a 224 carat ruby crystal excavated by hand from a shaft up to 50 metres deep, in Madagascar.

An independent gemmological consultant confirmed the discovery.

The stone was excavated from a prospect in which Cluff will have a 35% interest after the conclusion of the current expenditure commitment.

This new discovery presents the joint venture with a potential opportunity to secure existing infrastructure and local labour expertise.

Cluff said it is proceeding after the wet season to a program to expose the sapphire bearing rock and to map its extent on the licence.

Around half of the world's known sapphire reserves are contained in Madagascar, although production has been falling for the past two years.

 

View full XST profile View Profile

Xstate Resources Ltd Timeline

Newswire
February 15 2017
Newswire
August 31 2015

Related Articles

page of words with the word acquisition highlighted in yellow
October 05 2018
A comprehensive exploration program will commence upon transaction completion.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use