Shefa Yamim ATM Ltd (LON: SEFA) has landed its first prospecting licence, covering the Kishon Mid-Reach Zone 1, an alluvial target in Northern Israel.
Shefa Receives first Prospecting Licence and Renews Exploration Permit for the Kishon Mid-Reach Area
Avi Taub, CEO of Shefa Yamim, commented: “We are delighted to have received our first prospecting licence over the Kishon Mid-Reach-Zone 1, our most advanced project out of all other potential locations within the permit areas in which the Company operates. The Company has worked methodically and systematically to meet all the required criteria needed to advance towards the target for trial mining in 2019.”
James Campbell (Non-Executive Director) Shefa Yamim A.T.M (AIM: SEFA) Jul 30, 2018
Shefa Yamim (LSE: SEFA), the precious stone exploration and prospecting Company in Northern Israel, is pleased to announce that it has been granted its first Prospecting Licence, over its alluvial exploration target, the Kishon Mid-Reach Zone 1 Project, taking it towards a ‘Certificate of discovery’ and its first mining licence. In addition, the Company has successfully renewed its Exploration Permit. The two permits are an important step towards the Company achieving its target of commencing trial mining by 2019.
The Prospecting Licence allows the Company to carry out a work programme comprising of a conceptual mining plan and the completion of a Technical Economic Evaluation (“TEE”) report which will provide the Company with the work and capital costs of bringing the Kishon Mid-Reach project into production. The Exploration permit grants Shefa Yamim the exclusive right to continue to explore the area described in the permit.
Highlights
· Prospecting Licence (869C9) granted for Diamonds, Gold and Precious Stones in the Kishon Mid-Reach Zone 1 that covers an area of 252 Dunams (25.2 hectares)
· Exploration Permit (869B8) renewed that covers an area of 173,636 Dunams (17.3636 hectares)
· Both the Prospecting Licence and Exploration Permit are for a duration of 12 months
· Once the working plan, according to the Prospecting Licence, requirements have been met, the Company will apply for a ‘Certificate of discovery’, providing the Company with exclusive rights over a mining licence
In addition to the above Prospecting Licence and Exploration Permit, Shefa Yamim currently holds two prospecting permits granted by the Commissioner of Mines (“Ministry of Energy and Water”). The total licenced and permitted area covers around 600,000 Dunam, (614 km²) and is located approximately 85km north of Tel Aviv, in Northern Israel. The area 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.
Shefa Yamim operates in a parallel mode exploring for precious minerals: surveying simultaneously primary sources – volcanic bodies on Mount Carmel, Menashe Hills and Lower Galilee region and secondary alluvial sources of the primary source’s weathering products that could host precious minerals.
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