TIDMSEFA
RNS Number : 3715V
Shefa Yamim (A.T.M.) Ltd
23 July 2018
B"H
23 July 2018
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
Shefa Yamim Commissions Technical Economic Evaluation Report
& Operational Update
Shefa Yamim (LSE: SEFA), a precious stone exploration company in
Northern Israel, announces an operational update for the six months
ended 30 June 2018, ahead of its interim results to be announced in
August 2018. The Company is also pleased to announce the
appointment of Paradigm Project Management (Pty) Ltd ("PPM"), to
conduct a Technical Economic Evaluation ("TEE") of its advanced
alluvial exploration target, the Kishon Mid-Reach Zone 1.
Appointment of PPM
Shefa Yamim has appointed PPM, a South African project
management and engineering company with extensive experience in
carrying out due diligence work as well as managing and executing
projects within the mining sector, to provide the Company with
working and capital costs of bringing the Kishon Mid-Reach alluvial
deposit into production. The report, which is due to be completed
by the end of August 2018, is the first step in starting to build
the economic profile of the project as the company progresses
towards commercial production.
Operational Update
Shefa Yamim currently has one exploration permit and two
prospecting permits covering an area of more than 600 square km
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.
Shefa Yamim holds a well-established Operational Site &
Laboratories in Akko (total of 6,000 square metres) that has the
capacity to process a range of sample sizes (more than 600 tonnes)
for final mineral extraction, including washing, screening,
sieving, mineral identification and definition.
To date the Company has carried out an extensive exploration
programme and has delineated several potential primary sources and
secondary deposits that host precious stones. Currently the Company
is focusing on mapping, drilling of boreholes and taking bulk
samples at the Kishon Mid Reach placer, the Company's priority
target.
The Company intends to continue its exploration programme with
the aim of delineating a mineral resource that is compliant with
the South African Code for the Reporting of Exploration Results,
Mineral Resources and Mineral Reserves, (the "SAMREC").
Key Highlights of H1 2018 include:
-- The Company has devised a mine-to-marketing strategy and
plans to explore, mine and use its "Gem-Box" of precious stones to
design unique and branded fine gemstone jewellery pieces from the
Holy Land
-- TMA Suite includes; Diamond (rare), Spinel, Carmel
Sapphire(TM), Sapphire, Ruby, Moissanite, Hibonite, Garnet,
Ilmenite, Zircon and Rutile
-- Successful upgrade of machinery on site
-- Prospecting licences, 837A11 and 899A6 successfully extended to December 2018
-- Completed processing of 14 bulk samples in Zone 1 with a
total of 9,778.15 carats found from the 6,384 tonnes sampling
campaign in Zone 1
-- Advanced exploration in Zone 2, with 26 new boreholes completed during the period
-- Post period, cutting and polishing increased the number of
'gem quality' precious stones at the company's Kishon Mid-Reach
Zone
-- On target for trial mining in 2019 and commercial mining in 2020
Target H2 2018 Milestones
-- Grade estimations and obtaining preliminary valuations on the mineral suite
-- Conclude geological report to the Inspector of Mines regarding the exploration permit
-- Apply for new exploration permit
-- Apply for Prospecting Licence for Kishon Mid Reach Zone 1
Avi Taub, CEO of Shefa Yamim, commented:
"Having completed a successful listing at the end of December
2017, we set out to deliver on the promises we made to our
supportive investors. I am happy to say that we are on target to
meet the milestones set out at IPO and 2018 is shaping up to be a
pivotal year for Shefa Yamim. Our focus is to advance the Kishon
Mid-Reach Zone 1 deposit to trial mining with the aim of achieving
commercial production by 2020, which will also enable us to realise
our mine-to-marketing strategy to market our branded line of
exclusive jewellery as 'gemstones from the Holy Land'. We look
forward to updating investors on our progress."
- Ends -
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 Broker
-----------------
Andrew Raca, Stephanie Jury +44 20 3005 5000
-----------------
Daniel Stewart & Company - Joint Broker
-----------------
Jon Levinson, Richard Potts +44 20 7796 4648
-----------------
Luther Pendragon
-----------------
Harry Chathli, Ana Ribeiro, Alexis
Gore +44 20 7618 9100
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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(TM) (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.
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END
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