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Shefa Gems Ltd (SEFA)

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Monday 22 February, 2021

Shefa Gems Ltd

Prospecting Licence and Prospecting Permit Update

RNS Number : 7500P
Shefa Gems Ltd
22 February 2021
 

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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

 

 

SI Capital Limited - Broker  

 

Nick Emerson and Jon Levinson

+44 20 3871 4038 / +44 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.

 

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™, 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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