Shefa Gems reveals results of new updated competent persons report

Shefa Gems reveals results of new updated competent persons report

A competent person acting for Shefa Gems Ltd (LON:SEFA) has established that the gemstone resource at its Kishon Mid-Reach Zone 1 and Zone 2 projects in Israel should generate revenue of US$41 for every tonne of rock mined.

Shefa Gems is now at an advanced stage of planning and development in its trial mining phase.

The updated competent persons report, 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.

Operating costs over the life of mine are estimated at US$26 per tonne, with the potential to be as low as US$10-to-US15 per tonne, as established in the companys Technical Economic Evaluation announced in February 2019.

"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,” said Michael Rosenberg, the chairman of Shefa,

“The report alsRead More – Source