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Highest grade results to date in Zone 2

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RNS Number : 1486Q
Shefa Gems Ltd
17 October 2019
 

 

B"H

 

17 October 2019

 

Shefa Gems Ltd.

 

("Shefa Gems" or the "Company")

 

Highest grade results to date in Zone 2 of Kishon Mid-Reach

 

Shefa Gems (LSE: SEFA), a company focused on advanced exploration and development of multi-gemstone projects in Northern Israel, is pleased to announce sample results exceeding previous highest grades in Zone 2 of the Kishon Mid-Reach following the processing and analysis of two bulk samples.

 

The first sample yielded a record Target Mineral Assemblage ('TMA') grade of 467 carats per hundred tonnes (cpht). For comparison, the aggregate results from the first five bulk samples from the northern part of Kishon Mid Reach Zone 2, as announced on 31 January 2019, was 135 cpht and the average TMA grade assumed in the Technical and Economic Evaluation of Zone 1 was 153 cpht.

  

As is to be expected from the Company's geological model, the second sample returned a lower grade of 39 cpht because it was taken on the upstream, less well developed, side of the main placer.

 

Taken together, the sample results indicate continuous prospectivity across southern and northern parts of Zone 2 and therefore support the Company's intention to increase the life of mine beyond Zone 1.

 

The results from these two bulk samples, follow the excavation of five bulk samples from the southern part of Kishon Mid Reach Zone 2, as announced on 24 June 2019. The three remaining bulk samples are being processed at the Company's treatment facility in Akko and results are expected to be announced in the first quarter of 2020.

 

Vered Toledo, Chief Operating Officer of Shefa Gems, said: "These two bulk samples, which include the highest ever grade results in Zone 2, form part of a bulk sampling programme to deliver a resource estimate for the Kishon Mid Reach Zone 2 project. The results are very encouraging and tie into our expectations for the significant potential in the Kishon Mid Reach."

 

Competent Person:

 

This bulk sample campaign was planned and approved by Dr. J.D. Ward, the Shefa Gems Consulting Geologist at Majimba Geo-Consulting. Dr. Ward is a qualified geologist (Pr.Sci.Nat), and a leading alluvial diamond exploration and mining geologist with over 35 years' field experience.

 

Enquiries

 

Shefa Gems Ltd


Michael Rosenberg, OBE - Chairman 

www.shefagems.com

+44 20 7938 4026



VSA Capital Limited - Financial Adviser


Andrew Raca

+44 20 3005 5000



SI Capital Limited - Broker and Strategic Adviser


Nick Emerson and Jon Levinson

+44 20 3871 4038 / +44 1483 413500



Luther Pendragon


Harry Chathli, Alexis Gore, Rachel So

+44 20 7618 9100

 

 

Notes to Editors

 

About Shefa Gems Ltd

 

Shefa Gems Ltd (LSE: SEFA) is a multi-commodity explorer of precious stones 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 with decades of proven experience in their fields.

 

All exploration activities are conducted under international standards and the internationally recognised SAMREC 2016 Code. Furthermore, its permits, granted to it by the Commissioner of Mines, extend over an area of approximately 600,000 Dunam (60,000 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins - Menashe Hills, Tivon-Alonim Hills, and Nazareth range. The Company upholds environmental values and protects the nature in the areas where it operates, cooperating fully with all authorities.  

 

Alongside its exploration activities, the Company is building on the launch of the "Heaven on Earth" jewellery collection, created by world-renowned designer Yossi Harari, and developing the Company's "Mine to Market" strategy to promote unique jewellery collections utilising Shefa Gems' suite of precious gemstones.

 

The exclusive "Heaven on Earth" collection is now available to view online on the website of the designer Yossi Harari at: www.yossiharari.com/collections/heaven-on-earth

 

For further information please visit the website at https://www.shefagems.com/ 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Market Cap: £7.33 m
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Shefa Gems Ltd's James Campbell details maiden resource and 2020 outlook

Shefa Gems Ltd's (LON:SEFA) James Campbell caught up with Proactive London's Andrew Scott to discuss the gemstone resource at its Kishon Mid-Reach Zone 1 and Zone 2 projects in Israel. The explorer's now at an advanced stage of planning and development in its trial mining phase.

1 day, 11 hours ago