TIDMSEFA
RNS Number : 4468S
Shefa Gems Ltd
09 July 2020
B"H
9 July 2020
Shefa Gems Ltd.
("Shefa Gems" or the "Company")
Bulk Sampling Completed on the Kishon Mid-Reach Zone 2
Highlights
-- 1,466 carats recovered from 2,254 tons of palaeo gravels from final five bulk samples.
-- 8,319 carats recovered from a total of 30 bulk samples and 6,094 tons of palaeo gravels giving a raw sampling
grade of 136.5 carats per hundred tons.
-- The largest stones recovered were a 6.9 carat spinel, 5.72
carat sapphire, 5.26 carat Carmel Sapphire(TM) and a 4.1mm of
natural moissanite, the largest natural moissanite ever found.
Shefa Gems (LSE: SEFA), a company focused on advanced
exploration and development of multi-gemstone projects in Northern
Israel, is pleased to announce that it has completed the processing
of bulk samples from the Kishon Mid-Reach Zone 2 project at its
fit-for-purpose sample processing facility at Akko in Northern
Israel.
Tali Shalem, Chief Executive Officer of Shefa Gems, said: "I am
pleased to report that processing work has resumed at our Akko
facility following a nationwide lockdown as a result of the
Covid-19 pandemic and that our bulk sampling programme on Zone 2 of
the Kishon Mid-Reach project has been completed. The results from
this programme provide further confidence in the combined Zone 1
and 2 Inferred Resource. In parallel to completing this important
bulk sampling programme, the company has been working hard on
progressing the Mining License application, following the recent
award of the Certificate of Discovery for Zones 1 and 2 of the
Kishon Mid-Reach whilst evaluating a global multi-channel marketing
strategy."
A total of thirty bulk samples from the Kishon Mid-Reach Zone 2
were taken from short trenches excavated approximately
perpendicular to the palaeo-flow direction of the ancient Kishon
River course preserved in low terraces flanking the modern river
course. This is the last set of five bulk samples taken in June
2019 from the southernmost area of Zone 2 as part of a pattern to
systematically investigate the heavy mineral content of the palaeo
Kishon River basal placer gravels.
The final bulk sampling campaign (BS1252 - BS1256) recovered
1,466 carats of minerals from the 'Gem Box' suite from 2,254 tons
of basal gravels giving a raw sampling grade of 65.01 carats per
hundred tons. The dominant minerals in this samples consist of
spinel (56%), garnet (26%), ilmenite (9%), Carmel Sapphire(TM)
(5%), sapphire (2%) and hibonite, natural moissanite and ruby at
lower percentages . The largest gemstones recovered were a 6.9
carat spinel, 3.77 carat ilmenite, 2.36 carat garnet and a 2.15
carat Carmel Sapphire(TM) .
A total of 8,319.19 carats were recovered from thirty bulk and
mini bulk samples taken in Zone 2 weighing 6,094.53 tons, with
individual sample grades ranging from 38 to 2,735 carats per
hundred tons giving a raw sampling grade for the entire Zone 2 of
136.5 carats per hundred tons. The dominant minerals in the Zone 2
bulk samples consist of spinel (56%), garnet (20%), ilmenite (13%)
sapphire (4.5%), Carmel Sapphire(TM) (3.5%) and zircon (1%). Ruby,
moissanite, hibonite and rutile were also recovered. The largest
stones recovered in Zone 2 were a 6.9 carat spinel, 5.72 carat
sapphire, 5.26 carat Carmel Sapphire(TM) and 4.1mm of natural
moissanite one of the largest natural moissanite crystals ever
found.
The raw sampling grade of Zone 2 of 136.5 carats per hundred
tons is consistent with that of Zone 1 of 152.4 carats per hundred
tons illustrating both geological and mineralogical continuity
between the two contiguous zones on the Kishon Mid-Reach and
further support the Inferred Resource classification for the
combined Zones 1 and 2.
Total Gem Carat in the Company's inventory (Zone 1 + 2) to
date:
Following the financial statements of the year 2019, published
by the Company on 25 June 2020 (RNS 9695Q) and the Company's gem
inventory published was 15,573 carats - The updated gem inventory,
after adding the last 5 bulk samples as stated in this RNS (1,466
Carat) is 17,039 carats.
Competent Person:
This release has been approved by James Campbell, a qualified
geologist (Pr.Sci.Nat), a Member of the Geological Society of South
Africa, a Fellow of the Southern African Institute of Mining and
Metallurgy, a Fellow of the Institute of Materials, Metals and
Mining (UK) and with over 34-years' experience in the diamond and
precious stones sector.
Enquiries
Shefa Gems Ltd
Michael Rosenberg, OBE - Chairman
Tali Shalem - Chief Executive Officer +44 7785 727595
www.shefayamim.com +972 50 447 5770
-----------------------
VSA Capital Limited - Financial
Adviser
-----------------------
Andrew Raca +44 20 3005 5000
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SI Capital Limited - Broker and
Strategic Adviser
-----------------------
+44 20 3871 4038 / +44
Nick Emerson and Jon Levinson 1483 413500
-----------------------
Notes to Editors
About Shefa Gems Ltd
Shefa Gems Ltd (LSE: SEFA) is an explorer and developer of
precious gems deposits operating in Northern Israel. Exploration
activity is managed by professionally skilled and technically
competent personnel and is accompanied by an international team of
geological experts. All exploration activities are conducted under
international standards and the internationally recognized SAMREC
2016 Code.
The Company holds three permits, granted to it by the
Commissioner of Mines at the Ministry of Energy, Natural Resources
Administration, Israel, extend over an area of approximately
488,366 Dunams (48,836 hectares) that includes the Kishon River,
the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el
valleys and their margins.
Shefa Gems has established a "Source to Sink" geological model
and the presence of a Target Mineral Assemblage of gemstones ("TMA
Suite") in both primary volcanic sources and in secondary alluvial
deposits lying within the Kishon catchment, on Mount Carmel and in
the Zevulun and Yizre'el valleys and their margins. The TMA suite
comprises Precious Stones (Diamond, rare natural moissanite,
sapphire, ruby, Carmel Sapphire(TM), garnet, hibonite, spinel,
ilmenite) and heavy minerals including zircon and rutile.
On March 2020, the Quarries and Mines Branch of the Ministry of
National Infrastructures of the State of Israel has awarded a
Certificate of Discovery to the Company covering the projected
gemstone mine development in the Kishon Mid Reach, Zones 1 and 2.
The Certificate of Discovery is the culmination of the Company's
successful exploration activities and market analysis; and signals
the beginning of the process towards future commercial mining. 20
years of exploration in the Kishon valley have brought the Company
one step closer in the establishing Israel's first and only future
precious gemstone mine, originally identified and progressed by the
founder of the company, the late and much missed Abraham (Avi)
Taub.
Alongside its exploration activities, the Company is developing
a "Mine to Market" strategy to promote unique jewellery collections
utilising Shefa Gems' suite of precious gemstones.
The Company upholds environmental values and protects the nature
in the areas where it operates, cooperating fully with all
authorities.
For further information please visit the website at
www.shefagems.com
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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