Secondary alluvial deposits, such as the Kishon Mid Reach placer, derive their gemstones from the weathering and erosion of primary volcanic sources of which the Company has identified four inside the Company’s exploration permit: Rakefet Magmatic Complex (“RMC”), Muhraka, Har Alon and Beit Oren.
To date, the majority of exploration work has been carried out on the RMC, which lies on the southern portion of Mount Carmel. The Company has completed geological mapping as well as rock and soil sampling, which has led to the identification of gem and industrial minerals in the Company’s target mineral assemblage as well as kimberlitic indicator minerals.
Of the identified primary sources, the RMC contains the full assemblage of the target mineral assemblage, although at this stage there is insufficient data to suggest that this primary source could be economically exploited and therefore no drilling has been done so far.
Further exploration and greater understanding of the primary sources which feed the secondary deposits could lead to further discoveries within the Company’s exploration and prospecting permits. The Company intends to continue exploration of the volcanic bodies on Mount Carmel in parallel with its exploration and evaluation activities in the Kishon Mid Reach.