(Alliance News) - Shefa Gems Ltd said Thursday gemstone mining samples from its Israel operations delivered grades which were higher than previous figures from the site.
Two bulk samples from the Kishon Mid Reach Zone 2 have been tested. The first of these delivered a grade of 467 carats per hundred tonnes, considerably ahead of the average results from the first five bulk sample results in January at 135 carats.
The second sample, however, delivered a "lower" grade of 39 carats per hundred tonnes. Despite this, the lower results was expected as the sample was taken from the less well developed side of the site.
The remaining three samples from the bulk sample are still being processed at the Akko headquarters of Shefa. Results are expected in the first quarter of 2020.
"These two bulk samples, which include the highest ever grade results in Zone 2, form part of a bulk sampling programme to deliver a resource estimate for the Kishon Mid Reach Zone 2 project," Shefa Chief Operating Officer Vered Toledo said. "The results are very encouraging and tie into our expectations for the significant potential in the Kishon mid reach."
Shares in Shefa were untraded at 4.50 pence in London on Thursday.
By Ahren Lester; ahrenlester@alliancenews.com
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Shefa Gems (SEFA)