Shefa Yamim (A.T.M.) Ltd Permo-Triassic-Jurassic rocks under Mount Carmel (1985F)
19 February 2018 - 6:00PM
UK Regulatory
TIDMSEFA
RNS Number : 1985F
Shefa Yamim (A.T.M.) Ltd
19 February 2018
B"H
19 February 2018
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
Macquarie University results find Permo-Triassic-Jurassic rocks
deep beneath Mount Carmel
Ancient volcanic rocks refine the geological history of the
region
and identify expanded exploration potential
Shefa Yamim (LSE: SEFA), a precious stone exploration company in
Northern Israel, is pleased to announce the results of studies
recently conducted by Macquarie University that provide a clearer
understanding of why Shefa Yamim has been able to find a suite of
gemstones in its exploration area, including natural moissanite and
Carmel Sapphire(TM).
Natural moissanite is incredibly rare and requires extreme heat
and unusually reducing (low-oxygen) conditions to form. Small
quantities have been found as very small grains in rocks from the
upper mantle, and in meteorites. Shefa Yamim has found the largest
known moissanite crystal (4.14 mm) in the Kishon Mid Reach placers.
Carmel Sapphire(TM) is a unique titanium-rich corundum first
recognized in the Mount Carmel volcanic rocks.
Commenting on the findings, Professor William Griffin, Professor
of Geochemistry at Macquarie University, said:
"The existence of large quantities of moissanite, coupled with
the titanium-rich corundum - Carmel Sapphire(TM), makes this one of
the most scientifically exciting projects I have worked on. Shefa
Yamim's exploration samples host some of the rarest and most
unusual minerals on earth. Our recent findings add to the
geological history of the region and provide incentives and
directions for further exploration."
Professor William Griffin of the ARC Centre of Excellence for
Core to Crust Fluid Systems at Macquarie University in Sydney,
Australia, has used isotopic analyses of the mineral zircon to
recognize the presence of deep-seated basaltic rocks, dated to the
geological age of Permo-Triassic-Jurassic times. Zircon analysis is
a widely-used tool in mineral exploration. Professor William
Griffin and his team analysed 260 individual zircons from the vent
rocks and tuffs of Mount Carmel and compared them with nearly 200
zircons in alluvial samples from the Kishon Mid-Reach placers
discovered by Shefa Yamim. The analysis revealed that besides
zircons from the known volcanoes on Mount Carmel, the alluvial
samples also contain zircons from other Cretaceous eruptions.
The depth of formation and sequence of cooling of these
older-than-Cretaceous intrusions may be responsible for the
creation of the gemstones found on the Shefa Yamim licenses.
The research implies that there are other primary sources of
gemstones yet to be found in the area surrounding Mount Carmel and
the Kishon River, and that further exploration is necessary to
uncover the geological structure of the Israeli landscape and all
the sources of the Kishon River gemstone placers.
Avi Taub, CEO of Shefa Yamim, added:
"Thank you to Macquarie University for devoting the time and
money on our project. The findings give us context on why we have
been able to find precious stones in the Kishon Mid-Reach area and
are an affirmation of our continued efforts to enable the rapid
opening of our first mine."
Enquiries
Shefa Yamim (A.T. M.) Ltd
--------------------------------- -----------------
Avi Taub, Chief Executive
Officer
www.shefayamim.com +44 20 7618 9100
--------------------------------- -----------------
VSA Capital Limited - Financial
Adviser and Broker
--------------------------------- -----------------
Andrew Raca, Stephanie Jury +44 20 3005 5000
--------------------------------- -----------------
Luther Pendragon
--------------------------------- -----------------
Harry Chathli, Ana Ribeiro,
Alexis Gore +44 20 7618 9100
--------------------------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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