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Shefa Gems Inc.
Summary
| Project: | Kishon | |
|---|---|---|
| Deposit: | Kishon Mid-Reach | |
| Location: | Israel | |
| Commodities: | Diamonds-Sapphire-Ruby-Moissanite-Hibonite | |
| Date: | 12/9/2019 | |
| Report Code: | SAMREC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-12-2019: Shefa Gems Inc. announces a Resource Estimation report for its Kishon Mid-Reach deposit at the Kishon project. Initial mineral resource estimate for Kishon Mid-Reach project. Shefa Gems (LSE: SEFA), a company focused on advanced exploration and | |
| Resources: | ||
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Shefa Gems (LSE: SEFA), a company focused on advanced exploration and development of multi-gemstone projects in Northern Israel, is pleased to announce that Kishon Mid-Reach Zone 1 and Zone 2 has been upgraded to an Inferred Mineral Resource following the completion of the Competent Person's Report ("CPR") update. The updated CPR, which used all available data up to August 2019, has upgraded Zones 1 and 2 of the Kishon Mid-Reach to an Inferred Mineral Resource from its previous classification of an Exploration Project. The upgrade follows considerable detailed exploration work and is based on the occurrence of gemstones of economic interest in such form, quality and quantity that there are reasonable and realistic prospects of gemstone extraction for the general consumption in the jewellery market. Significantly, the report concludes that the Company's overall Gem Box suite is estimated to have a contained revenue of US$41/t, led by the Carmel Sapphire™ at US$35/t due to its high intrinsic value and the presence of large stones. A contained revenue of US$41/t is considerably higher than the projects estimated operating cost budget over the Life of Mine of US$26/t, with the potential to be as low as US$10-15/t, as published in the Technical Economic Evaluation announced in February 2019. This contained revenue also excludes any margin the Company will gain from its multi-channel vertically integrated marketing strategy and premium attracted to gems originating from the Holy Land. In addition, the report notes that due to the progress of the Company whereby its exploration campaign has advanced to the evaluation phase, it has up-scaled the operational capacity, equipped with state-of-the-art treatment facility and laboratory, to facilitate the treatment of large samples and started with the inception of a trial mining phase. | |
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