TIDMSEFA
RNS Number : 7500P
Shefa Gems Ltd
22 February 2021
B "H
22 February 2021
Shefa Gems Ltd.
("Shefa Gems" or the "Company")
Shefa Receives Prospecting Licence for one of its projects in
the Carmel area
and Renews Prospecting Permit for the remaining areas in the
Carmel
Shefa Gems (LSE: SEFA), a company focused on advanced
exploration and development of multi-gemstone mining projects in
Northern Israel, is pleased to announce that it has been granted by
the Ministry of Energy, Natural Resources Administration, Israel -
its second Prospecting Licence (#1010C1), for one of the company's
primary exploration targets, the Bat Shlomo ('BTS') Project, taking
it towards a ' Certificate of discovery' and potentially a mining
licence.
This Prospecting Licence allows the Company to carry out a work
programme comprising of a drilling plan, a conceptual mining plan
and the Technical Economic Evaluation ("TEE") report which will
provide the Company with the work and capital costs of bringing the
'BTS' project into production.
The 'BTS' project is one of the company's primary exploration
targets (Magmatic Body) in the Carmel area, and is spread over an
area of 990 Dunams (99 Hectares).
Following a prioritization report made by the company's
geologists in relation to the magmatic bodies on Mount Carmel, and
in accordance with the summary of data researched over the years in
this area, it was decided in November 2020 to perform a Bulk Sample
(BS-1260), which final results (as detailed below) allowed the
company to progress, relatively quickly, to the regulatory status
of a Prospecting License for this project.
In light of the exclusion of the 'BTS' project from the 'Carmel
prospecting area' - the company also successfully renewed its
Prospecting Permit (#837A14) for the remaining 312.5 Square
kilometer in the Carmel for the purpose of further prospecting
& research of the additional projects in the Carmel area .
In addition to the above Prospecting Licence and Prospecting
Permit, Shefa Gems currently holds, one Exploration Permit
(#869B13) covering an area of 173.3 Square kilometer for the area
of the Kishon, some areas in the Carmel and surrounding valleys,
And one 'Certificate of Discovery' for the 'Kishon Mid-Reach'
project.
'BTS' Bulk Sampling results:
The results of bulk sample BS-1260, yielded 72 tons of
mineralized Magmatic rock, recovered a total of 21,430.33 carats
(cts), represented by Garnet (dominant mineral at 86.3%), Spinel
(11.3%), Ilmenite (2.44%) and trace percentages (0.02%) of
Sapphire. The overall grade is 297.64 carats per ton (cpt) at a
bottom screen size of +1 mm. The largest gemstone recovered from
BS-1260 was a Garnet of 54.13cts. The size range recovered from
BS-1260 is: 60% in the extra fines range (0.01 to 0.65 carats), 13%
in the fines (0.66 to 1.19 carats), 12% lie in the mids (1.2 to
2.49 carats), and 16% lie in the coarse (2.5 cts and above).
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 35-years' experience in the diamond and
precious stones sector.
- Ends -
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
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SI Capital Limited - Broker
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+44 20 3871 4038 / +44
Nick Emerson and Jon Levinson 1483 413500
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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.
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
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