Shefa Says Kishon Project Upgraded To Mineral Resource Classification

(Alliance News) - Shefa Gems Ltd on Monday said that an updated Competent Person's Report has ...

Alliance News 9 December, 2019 | 2:02PM
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(Alliance News) - Shefa Gems Ltd on Monday said that an updated Competent Person's Report has upgraded zone 1 and 2 of the Kishon Mid-Reach project in Israel to an inferred mineral resource classification from an exploration project.

The report also estimates a contained revenue of around USD41 per tonne of ore, the Israeli gemstones explorer added.

The upgrade follows a detailed exploration work and is based on the occurrence of gemstones of economic interest such that there are reasonable and realistic prospects of gemstone extraction for the general consumption in the jewellery market.

Michael Rosenberg, chair of Shefa Gems, said: "We are delighted the CPR has raised the classification of the Kishon Mid-Reach project to an inferred mineral resource, a landmark achievement for Shefa Gems. The CPR is yet another strong endorsement of the quality and potential of our project following the independent technical economic evaluation and gemstone valuations announced earlier this year."

Shefa describes itself as "the first and only company in Israel focusing exclusively in mining exploration of precious stones in the north of the holy land". In addition to Kishon Reach, it has a project at Mount Carmel, both in northern Israel.

Shefa Gems shares were untraded at 3.55 pence each in London on Monday afternoon.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Shefa Gems Ltd 2.50 GBX 11.11 -

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