Shefa Yamim (ATM) Ltd (LON:SEFA) has released the results from a bulk sampling at Zone 2 of its Kishon Mid-Reach project in Israel.
The precious stone exploration firm said the sampling had recovered a total of 3,935.6 carats of gemstones from 2,908.8 tonnes of basal gravels with a target mineral assemblage (TMA) grade of 135.3 carats per hundred tonnes.
The samples had been dominated by gemstones at 99%, with spinel accounting for 55% of the TMA followed by garnet (20%), ilmenite (16%), sapphire (4.5%), Carmel sapphire (3%) and the remaining (0.16%) between hibonite, Natural Moissanite and ruby.
The largest gemstones recovered comprised a 3.9-carat sapphire, a 5.26 carat Carmel sapphire, a 6.68-carat spinel and a 3.61-carat garnet.
Shefa said it planned to carry out another three bulk samples from Zone 2 in the second quarter of 2019 which would complete exploration activity at the site, after which the firm would move toward trial mining.
Avi Taub, chief executive of Shefa Yamim, said the results further highlighted the potential of the Kishon Mid-Reach deposits, which had led to a “significant increase” in the level of confidence in the project.
"The multi-commodity findings, of nine different types of gemstones, collectively make up our Gem Box suite and forms a key part of our "mine-to-market" strategy” Taub added.
In early trading Thursday, Shefa Yamim shares were at 60p.