Shefa Gems Ltd Renewal of Exploration Permit (3182S)
July 08 2020 - 2:00AM
UK Regulatory
TIDMSEFA
RNS Number : 3182S
Shefa Gems Ltd
08 July 2020
B"H
8 July 2020
Shefa Gems Ltd.
("Shefa Gems" or the "Company")
Renewal of Exploration Permit
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 the Commissioner of
Mines at the Ministry of Energy, Natural Resources Administration
in Israel has renewed exploration permit 869B11 for a further year.
The renewed exploration permit, 869B13, includes four volcanic
bodies on Mount Carmel; RMC (Rakefet Magmatic Complex), Muhraka,
Har Alon and Beit Oren, the eastern slope of Mt. Carmel, Zevulun
and west Yizre'el valleys.
Exploration Permit 869B13 covers a total of 173,635 Dunams
(17,363 hectares) and entitles the Company to continue conducting
geological exploration at the site including further drilling and
excavations.
The Kishon Mid Reach Zone 1 and 2 was extracted from this permit
after declared as Discovery (Certificate 869D12), and Shefa Gems is
also pleased to confirm that it is continuing to progress the
regulatory procedures on the basis of the Certificate of Discovery
to obtain a Mining License to begin commercial mining.
Tali Shalem, Chief Executive Officer of Shefa Gems, said: "The
renewal of this permit is an important, symbolic step that
demonstrates the confidence the authorities have in the Company,
its new management team and its exploration program" .
- Ends -
Enquiries
Shefa Gems Ltd
Michael Rosenberg, OBE - Chairman
www.shefagems.com +44 7785 727595
-----------------------
VSA Capital Limited - Financial
Adviser
-----------------------
Andrew Raca +44 20 3005 5000
-----------------------
SI Capital Limited - Broker and
Strategic Adviser
-----------------------
+44 20 3871 4038 / +44
Nick Emerson and Jon Levinson 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.
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(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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCSSFFAWESSEDW
(END) Dow Jones Newswires
July 08, 2020 02:00 ET (06:00 GMT)
Shefa Gems (LSE:SEFA)
Historical Stock Chart
From Apr 2024 to May 2024
Shefa Gems (LSE:SEFA)
Historical Stock Chart
From May 2023 to May 2024