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Shefa Yamim’s carmeltazite discovery on Mount Carmel officially classified as a new mineral

The identification of the new mineral has been approved by the International Mineralogical Association, Commission on New Minerals, Nomenclature and Classification
Shefa Yamim’s carmeltazite discovery on Mount Carmel officially classified as a new mineral
Shefa has a highly unusual suite of gemstones

Carmeltazite, a mineral found in one of the gemstones from the Mount Carmel property in Israel owned by Shefa Yamim ATM LTD (LSE:SEFA) has been recognised and approved as a new mineral by the International Mineralogical Association.

The new mineral, first discovered by Shefa Yamim, was named carmeltazite due to the location of the discovery on Mount Carmel, and due to its major chemical components, namely, titanium, aluminium and zirconium.

 

The mineral is part of the remarkable mineral assemblage found as tiny inclusions inside Shefa Yamim's unique gemstone, the Carmel Sapphire™.

The rough Carmel Sapphire is typically black, blue to green and orange-brown in colour. The largest stone found thus far is 33.3 carats in weight. Shefa Yamim has already received a trademark from the Israeli Government to market the stones under the name "Carmel Sapphire".

In a note to clients, analysts at VSA Capital commented: “The discovery of another new mineral by SEFA highlights the unique nature of the collection of rare gemstones present at the Kishon Mid Reach project and the company continues to progress towards trial mining in 2019.”

They reiterated a Speculative Buy recommendation on Shefa Yamin, shares in which held steady at 57.50p.

 -- Adds analyst comment, share price --

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