Shefa Gems Ltd (LON:SEFA) has completed the excavation of four new bulk samples and one mini bulk sample from target gravel horizons in the Kishon Mid-Reach Zone 2 in Israel.
To date, a total of 30 bulk and mini bulk samples have been collected from the Kishon Mid Reach Zone 2 and 6,094 tonnes of gravel.
The new collected samples, with a total weight of 2,255 tonnes, have been transported for treatment and analysis to the company's operational site in Akko.
Upon completion of the analysis at Akko, the company will apply for a prospecting license, bringing Zone 2 to the same development level as Zone 1 and thereby enlarging its deposit base.
"The company is continuing its systematic exploration of its concession areas with a view to increasing the size of its deposit ahead of trial mining and commercialisation,” said non-executive director James Campbell.
“Whilst results from these new bulk samples will not be known for some time, the results from the bulk samples from Zone 2 treated so far are highly prospective for natural moisannite. Natural moisannite was valued by an independent gemmologist at US$10,000 per carat.”
He added: "The strong level of interest and commercial potential of our gemstones has been further evidenced by the successful launch of the 'Heaven on Earth' jewellery collection, created by world-renowned jewellery designer, Yossi Harari, which include gemstones such as natural moissanite and Carmel sapphire."