Last checked at 29 Nov 2018 07:00
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29 November 2018
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
NFTR report estimates significant increase in mineralised tonnage for Kishon Mid-Reach
Results from collated data of exploration activity show larger total volumes of mineralised placer gravels for the three target exploration Zones from approximately 1.1 million tonnes (Mt) to 5 Mt
Shefa Yamim (LSE: SEFA), a precious stone exploration company in Northern Israel, is pleased to announce a significant increase in the estimated tonnages of mineralised placer (basal) gravels for its Kishon Mid-Reach project following the results of the Note For The Record ("NFTR") report.
Highlights of results from the report:
· Zone 1 hosts approximately 1.1 Mt of mineralised placer (basal) gravels, trebling previous estimates of 350,000 t from the Competent Person's Report ("CPR")
· Total estimated exploration target for Zones 1-3 of almost 5 Mt
Following the completion of the drilling and bulk sampling campaigns in Zone 1, together with the recent exploration advances in Zone 2 and the limited access to the Zone 3 deposit, the NFTR report, which was completed by consulting geologist, Dr John Ward, provided updated estimates of the areas and tonnages for all three exploration target Zones. These updated estimates are derived from additional field mapping and drilling in Zones 1-3, including the successful awarding of the recently approved Prospecting Licence 869C9 that covers Zone 1 within the larger Exploration Permit 869B8.
Zone 1 (Prospecting Licence 869C9) alone hosts approximately 1.1 Mt of mineralised placer (basal) gravels under almost 2 Mt of overburden. The total estimated exploration target for all three exploration Zones is almost 5 Mt of placer (basal) gravels under approximately 10 Mt of overburden in the Kishon Mid-Reach alluvial placer.
TABLE 1: Summary of the updated areas and tonnages estimated for the exploration target Zones 1, 2 and 3 of the Kishon Mid-Reach alluvial placer. Note: Areas and tonnes rounded down.
Zone | Area (m2) | Overburden Tonnes (t) | Placer (Basal) Gravel Tonnes (t)
|
Zone 1 | 250,000 | 1,930,000 | 1,120,000 |
Zone 2 | 269,000 | 1,698,000 | 873,000 |
Zone 3 | 788,000 | 6,621,000 | 2,979,000 |
Total Mid-Reach | 1,308,000 | 10,250,000 | 4,980,000 |
Commenting on the results, Avi Taub, CEO of Shefa Yamim, said:
"We are delighted to receive the results from the NFTR report. The significant increase in the estimated mineralised tonnages for Zones 1-3 from a total of 1.1 Mt to almost 5 Mt further validate our belief in the great potential of the Kishon Mid-Reach project.
"Significantly, as we progress towards trial mining in Zone 1 in 2019, the larger volume of mineralised tonnages potentially triples the quantity of our "Gem Box" of precious stones that the Company will produce from mining in Zone 1, thereby increasing the potential of the project."
- Ends -
Competent Person:
This release has been approved by Dr. J.D. Ward, Consulting Geologist at Majimba Geo-Consulting. Dr. Ward is a qualified geologist (Pr.Sci.Nat), and a leading alluvial diamond exploration geologist with over 35 years' field experience.
Enquiries
Shefa Yamim (A.T. M.) Ltd |
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Avi Taub, Chief Executive Officer www.shefayamim.com | +44 20 7618 9100 |
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VSA Capital Limited - Financial Adviser and Broker |
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Andrew Raca | +44 20 3005 5000 |
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Daniel Stewart & Company - Joint Broker |
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Jon Levinson, Richard Potts | +44 20 7796 4648 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore | +44 20 7618 9100 |
Notes to Editors
About Shefa Yamim (A.T.M.)
Shefa Yamim is a multi-commodity precious stone exploration and prospecting Company in Northern Israel. It has two flagship projects, Mount Carmel (volcanic primary bedrock sources of gemstone and industrial minerals) and the Kishon Mid Reach (secondary alluvial placer deposits hosting the gemstone and industrial minerals derived from primary bodies).
After 18 years of exploration in a "greenfields" terrain, Shefa Yamim established a "Source to Sink" geological model and the presence of a Target Mineral Assemblage ("TMA") in both primary volcanic sources and in secondary alluvial deposits lying within the Kishon catchment, on Mount Carmel and in the Ramot Menashe area.
The TMA comprises gemstones and industrial minerals. The gemstones collectively make up the "Gem Box" suite, comprised of diamond (rare and small macro-diamond to microdiamond sizes), natural moissanite (that is rare globally), sapphire, ruby, Carmel Sapphire™ (a new sapphire type found, to date, only in northern Israel), hibonite (another rare gem), garnet, ilmenite and spinel. The heavy industrial minerals constitute the "HIM" suite hosting zircon (which may be gem grade at larger sizes) and rutile.
www.shefayamim.com