The 25.97-carat rough "ÄRE Emerald" is among 850 carats of "high quality gemstones" recovered in 214 tons of material extracted to date. That material yielded 1,831 carats of rough emeralds in total, according to Fura, which wants to sample 30,000t over the balance of the year.

"Work has also already commenced on the maiden mineral resource at Coscuez, and we are hoping to have this completed by Q4 of this year," Fura president and CEO Dev Shetty said this week. He said the early bulk sampling results were not indicative of the "mineral resource" to follow.

"We are thrilled with the discovery of this exceptional emerald in these very early stages of our bulk sampling program," he said.

"The quality of the ÄRE Emerald truly represents the opportunity and prestige of the Colombian Emerald, which are the most sought-after emeralds in the world."

Fura is also exploring for and mining rubies in Mozambique.

The company is currently trading at less than half the price levels of late January this year (C$1.04 high). It had a market capitalisation Monday of C$42.27 million.