Shefa Yamim Co Finds Moissanite in Carmel Hills near Haifa, Israel: Diamonds Expected Nearby
Israeli diamond exploration company Shefa Yamim has released a statement detailing the discovery of a large Moissanite precious mineral of 4.1mm, one of the largest pieces of the precious stone ever found. The presence of Moissanite in the area indicates that diamonds may also be located nearby. Shefa Yamim operates in the Carmel hills of northern Israel close to the city of Haifa where over a decade ago a Rabbi prophesised precious stones would be unearthed. Potential new diamond finds are exceedingly rare with no large discovery having been made in the past 15 years. Religious belief and biblical verse have inspired others to search for natural resources in the Holy Land. Texas-based Zion Oil and Gas is exploring for hydrocarbons in the same area as Shefa Yamim and was inspired by a map of the 12 biblical tribes of Israel. Shefa Yamim listed on the Tel Aviv stock exchange in April and has a market value of roughly $62 million, a figure which is sure to rise if recent finds are confirmed and developed. Shefa Yamim's consultant geochemist believes the company's chances of unearthing a significant haul of diamonds are as high as 20-30 percent representing the world's most promising new diamond exploration project.