TIDMSEFA
RNS Number : 5329G
Shefa Gems Ltd
18 March 2020
B"H
Shefa Gems Ltd.
("Shefa Gems" or the "Company")
Award of Certificate of Discovery opens path for mine
development
in the Kishon Mid Reach, Northern Israel
Shefa Gems (LSE: SEFA), a company focused on advanced
exploration and development of a multi-gemstone project in Northern
Israel, is very pleased to announce that 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, dated 17 March 2020, 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.
The inclusion of Zone 2 together with Zone 1 in the award
represents a significant achievement, increasing the expected mine
life to between 8 to 11 years, subject to final mine throughput,
enabling the Company to plan the alluvial mining project in a fully
integrated manner from its inception.
The award of the Certificate of Discovery (No. 869D12) under
Article 39 of the Mines Ordinance enables and requires Shefa Gems
to proceed with mine planning procedures with the Israel Lands
Authority and other relevant planning institutions and to prepare a
mining plan that demonstrates its commercial feasibility. An
initial application for mining rights must be filed by the Company
within one year of grant of the Certificate of Discovery.
In making its award, the Inspector of Mines recognised the
significance of Shefa Gem's unique Carmel Sapphire(TM) gemstone to
the commercial feasibility of the project. Referring to it as a
titanium-rich mineral corundum, the Certificate of Discovery points
to the principal economic value of the Gem Suite as being
contributed by the Carmel Sapphire(TM) . In parallel with the mine
plan, the Company intends to expand its trial marketing, in
execution of its established "mine-to-market" strategy.
As explained more fully in our announcement of 13 February 2020,
Carmel Sapphire(TM) contains inclusions of Carmeltazite, which was
chosen to be Mineral of the Year 2018 by the International
Mineralogical Association (IMA). The Carmel Sapphire(TM) is one of
the 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 Diamond
(rare), natural moissanite, sapphire, ruby, Carmel Sapphire(TM),
garnet, hibonite, spinel, ilmenite and heavy minerals including
zircon and rutile.
Vered Toledo, CEO of Shefa Gems, said:
"This is a pivotal moment for Shefa Gems. I would like to thank
all our shareholders who have expressed confidence in the Company's
activities over the years. After a great deal of hard work by the
team, including our network of international expert consultants,
Shefa Gems, a pioneer in precious stones exploration, has
demonstrated both the commercial potential and the scientific
significance of the unique gem stones hidden in the rocks and soils
across the regions of Mount Carmel, and the northern valleys of
Israel. The Company is now poised to move into an exciting new mine
development phase. While there remains exploration work to discover
the primary sources, the principal focus now changes to planning
and developing the mine and to establishing integrated sales and
marketing channels. I look forward to reporting to our shareholders
as we progress towards mine development."
- 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 stones 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 with decades of proven experience in their
fields. It has two flagship projects, Mount Carmel and the Kishon
Reach.
With its international geological consultant team, 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.
All exploration activities are conducted under international
standards and the internationally recognised SAMREC 2016 Code. Its
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.
Alongside its exploration activities, the Company is building on
the launch of the "Heaven on Earth" jewellery collection and
developing the Company's "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.
The exclusive "Heaven on Earth" collection is now available to
view online on the website of the designer Yossi Harari at:
https://www.yossiharari.com/collections/heaven-on-earth-1
For further information please visit the website at
www.shefagems.com
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END
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