Bulk Sampling Completed on Kishon Mid-Reach Zone 2

B"H

 

9 July 2020

 

Shefa Gems Ltd.

 

("Shefa Gems" or the "Company")

 

Bulk Sampling Completed on the Kishon Mid-Reach Zone 2 

 

 

Highlights

 

·    1,466 carats recovered from 2,254 tons of palaeo gravels from final five bulk samples.

• 8,319 carats recovered from a total of 30 bulk samples and 6,094 tons of palaeo gravels giving a raw sampling grade of 136.5 carats per hundred tons.

·    The largest stones recovered were a 6.9 carat spinel, 5.72 carat sapphire, 5.26 carat Carmel Sapphire^TM and a 4.1mm of natural moissanite, the largest natural moissanite ever found.

Shefa Gems (LSE: SEFA), a company focused on advanced exploration and development of multi-gemstone projects in Northern Israel, is pleased to announce that it has completed the processing of bulk samples from the Kishon Mid-Reach Zone 2 project at its fit-for-purpose sample processing facility at Akko in Northern Israel.

 

Tali Shalem, Chief Executive Officer of Shefa Gems, said: "I am pleased to report that processing work has resumed at our Akko facility following a nationwide lockdown as a result of the Covid-19 pandemic and that our bulk sampling programme on Zone 2 of the Kishon Mid-Reach project has been completed.  The results from this programme provide further confidence in the combined Zone 1 and 2 Inferred Resource.  In parallel to completing this important bulk sampling programme, the company has been working hard on progressing the Mining License application, following the recent award of the Certificate of Discovery for Zones 1 and 2 of the Kishon Mid-Reach  whilst evaluating a global multi-channel marketing strategy."

A total of thirty bulk samples from the Kishon Mid-Reach Zone 2 were taken from short trenches excavated approximately perpendicular to the palaeo-flow direction of the ancient Kishon River course preserved in low terraces flanking the modern river course. This is the last set of five bulk samples taken in June 2019 from the southernmost area of Zone 2 as part of a pattern to systematically investigate the heavy mineral content of the palaeo Kishon River basal placer gravels.

The final bulk sampling campaign (BS1252 - BS1256) recovered 1,466 carats of minerals from the 'Gem Box' suite from 2,254 tons of basal gravels giving a raw sampling grade of 65.01 carats per hundred tons.  The dominant minerals in this samples consist of spinel (56%), garnet (26%), ilmenite (9%), Carmel Sapphire^TM (5%), sapphire (2%) and hibonite, natural moissanite and ruby at lower percentages.  The largest gemstones recovered were a 6.9 carat spinel, 3.77 carat ilmenite, 2.36 carat garnet and a 2.15 carat Carmel Sapphire^TM. 

A total of 8,319.19 carats were recovered from thirty bulk and mini bulk samples taken in Zone 2 weighing 6,094.53 tons, with individual sample grades ranging from 38 to 2,735 carats per hundred tons giving a raw sampling grade for the entire Zone 2 of 136.5 carats per hundred tons.  The dominant minerals in the Zone 2 bulk samples consist of spinel (56%), garnet (20%), ilmenite (13%) sapphire (4.5%), Carmel Sapphire^TM (3.5%) and zircon (1%).  Ruby, moissanite, hibonite and rutile were also recovered.  The largest stones recovered in Zone 2 were a 6.9 carat spinel, 5.72 carat sapphire, 5.26 carat Carmel Sapphire^TM and 4.1mm of natural moissanite one of the largest natural moissanite crystals ever found.

The raw sampling grade of Zone 2 of 136.5 carats per hundred tons is consistent with that of Zone 1 of 152.4 carats per hundred tons illustrating both geological and mineralogical continuity between the two contiguous zones on the Kishon Mid-Reach and further support the Inferred Resource classification for the combined Zones 1 and 2.

Total Gem Carat in the Company's inventory (Zone 1 + 2) to date:

Following the financial statements of the year 2019, published by the Company on 25 June 2020 (RNS 9695Q) and the Company's gem inventory published was 15,573 carats - The updated gem inventory, after adding the last 5 bulk samples as stated in this RNS (1,466 Carat) is 17,039 carats.

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 34-years' experience in the diamond and precious stones sector. 

 

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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.

 

The Company holds three permits, granted to it by the Commissioner of Mines at the Ministry of Energy, Natural Resources Administration, Israel, extend over an area of approximately 488,366 Dunams (48,836 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins.

 

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