TIDMSEFA
RNS Number : 8364I
Shefa Yamim (A.T.M.) Ltd
29 November 2018
B"H
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 Placer (Basal) Gravel
(t) 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
Avi Taub, Chief Executive Officer
www.shefayamim.com +44 20 7618 9100
-----------------
VSA Capital Limited - Financial Adviser
and Broker
-----------------
Andrew Raca +44 20 3005 5000
-----------------
Daniel Stewart & Company - Joint Broker
-----------------
Jon Levinson, Richard Potts +44 20 7796 4648
-----------------
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 (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.
www.shefayamim.com
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END
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