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.”
