Last checked at 22 Jan 2019 07:00
B"H
22 January 2019
Shefa Yamim (A.T.M.) Ltd.
("Shefa Yamim" or the "Company")
Two Prospecting Permits Renewed
Shefa Yamim (LSE: SEFA), a precious stone exploration and prospecting Company in Northern Israel, is pleased to announce that two of its prospecting permits have been renewed, covering a total of 440,455 Dunams (44,045 hectares), by the Ministry of Energy, Natural Resources Administration, Israel.
The permits provide the Company with exclusive prospecting rights for diamonds, gold and precious stones over the permitted areas for a period of a year and entitles the Company to conduct all required actions connected with prospecting for the minerals specified above.
Permit 837A12 for the Carmel site covers an area of 327,551 Dunams (32,755 hectares) and 899A7 for the Ramot Menashe site covers an area of 112,904 Dunams (11,290 hectares). The permits replace the expired permits (permits 837A11 and 899A6) and relate to the same areas as the expired permits.
Shefa Yamim has four permits in total. In addition to permits 837A12 and 899A7, the Company has exploration permit 869B8 covering 173,636 Dunams (17,363 hectares), and a prospecting licence that covers an area of 252 Dunams (25.2 hectares). The four permits extend over an area of approximately 600,000 Dunams (60,000 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins - Menashe Hills, Tivon-Alonim Hills and Nazareth range.
Avi Taub, CEO of Shefa Yamim, said: "The renewal of these two permits is another step for the Company moving to the advanced stages of exploring the permitted areas, including the magmatic bodies on Mount Carmel and Ramot Menashe, which are the primary sources of the unique and rare gemstones discovered by Shefa Yamim at the Kishon Mid Reach project. The Company continues to progress towards trial mining in Zone 1 of the Kishon Mid Reach."
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Enquiries
Shefa Yamim (A.T. M.) Ltd.
| |
Avi Taub, Chief Executive Officer www.shefayamim.com | +44 20 7618 9100 |
VSA Capital Limited - Financial Adviser and Joint Broker
| |
Andrew Raca | +44 20 3005 5000 |
Daniel Stewart & Company - Joint Broker
| +44 20 7776 6500 |
Jon Levinson, Richard Potts | +44 20 3005 5000 |
Luther Pendragon
| |
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 and the Kishon Reach.
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 Suite") 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 Precious Stones (Diamond, natural moissanite that is rare globally, sapphire, ruby, Carmel Sapphire™) and Heavy Minerals ("HIM Suite") that include corundum, zircon, rutile, ilmenite and garnet.