Shefa Yamim (A.T.M.) Ltd Bulk Sampling Completed in Kishon Mid-Reach Zone 1 (8892N)

TIDMSEFA

RNS Number : 8892N

Shefa Yamim (A.T.M.) Ltd

14 May 2018

B"H

14 May 2018

Shefa Yamim (A.T.M.) Ltd

("Shefa Yamim" or the "Company")

Shefa Yamim completes bulk sampling campaign in Zone 1 of the Kishon Mid-Reach

Shefa Yamim (LSE: SEFA), a precious stone exploration company in Northern Israel, announces it has completed its bulk sampling campaign at the Kishon Mid-Reach Zone 1, following the exploration results from bulk samples BS-1208 and BS-1228, the last two bulk samples from a fourteen-bulk sample campaign carried out in Zone 1.

Strategy Highlights

-- Shefa Yamim has been concentrating its efforts on an alluvial deposit where coloured gemstones are more frequent and potentially higher yielding rather than exploring for the primary source. Alluvial gemstone deposits typically have lower operating costs and although the geological certainty associated is lower, these mines typically yield higher quality gemstones than primary deposits

   --     As a consequence, Shefa Yamim has focused its efforts on the Mid Reach Zone with: 

o 137 drill holes (total of 1,378.4 metres drilled) and 14 bulk samples (total of 6,385 tonnes) in Zone 1 and;

o 23 drill holes (total of 249 metres drilled), so far, and 25 bulk and mini bulk samples in Zone 2 (total of 3,793 tonnes);

o Total of 10,178 tonnes from bulk and mini bulk samples so far from the Kishon Mid Reach Zone 1 and 2

The Company has started processing bulk samples collected during August and September 2017 from the Kishon Mid-Reach Zone 2, as it continues to assess the resource potential of the Kishon Mid-Reach. In total, the Company will be processing five bulk samples consisting of 2,900 tonnes of gravel.

Bulk Sample Summary for BS-1228 and BS-1208

-- Smallest bulk samples taken from the Kishon Mid-Reach Zone 1, in comparison to previous bulk samples of 500 tonnes

o BS-1228 - bulk sample of 249 tonnes

o BS-1208 - bulk sample of 123 tonnes

   --     Sapphire was the dominant gem mineral from BS-1228, with the largest sapphire 3.04 ct 
   --     0.88 ct sapphire recovered from bulk sample BS-1208 

-- Bulk Samples 1208 and 1228 mark the end of a fourteen sample bulk sampling programme at the Kishon Mid-Reach Zone 1

-- The variation in overall grades is what might be expected for a placer with semi mobile trapsites

Bulk Sample Details:

Bulk samples BS-1228 and BS-1208 mark the end of a bulk sampling campaign to determine a resource estimate in Zone 1 of the multi-commodity target mineral assemblage ("TMA Suite") in the Kishon Mid-Reach exploration area. The samples consisted of 249 tonnes and 123 tonnes of basal gravel respectively. Shefa Yamim's TMA has two sub categories; the DMCH Suite consisting of Diamond, Moissanite, gem Corundum species (sapphire, ruby and Carmel Sapphire(TM)) and Hibonite and the HIM Suite, consisting of the heavy industrial minerals: garnet, ilmenite, zircon and rutile.

Table 1: DMCH suite bulk sample results (bottom screen size = 1 mm)

 
                       Carmel Sapphire(TM)      Sapphire       Ruby       Moissanite     Hibonite        Total 
 Sample     Size, t      ct         cpht       ct     cpht   ct   cpht    ct    cpht    ct    cpht    ct     cpht 
           --------  ----------  ----------  ------  -----  ---  -----  -----  ------  ----  -----  ------  ------ 
 BS-1228      249       5.06        2.03      20.48   8.23   0     0      0       0      0     0     25.54   10.26 
           --------  ----------  ----------  ------  -----  ---  -----  -----  ------  ----  -----  ------  ------ 
 BS-1208      123       3.60        2.92      1.58    1.28   0     0      0       0      0     0     5.18    4.20 
           --------  ----------  ----------  ------  -----  ---  -----  -----  ------  ----  -----  ------  ------ 
 

Table 2: HIM suite bulk sample results (bottom screen size = 1 mm).

 
                         Garnet         Ilmenite        Zircon        Rutile          Total 
 Sample     Size, t    ct     cpht     ct     cpht     ct    cpht    ct    cpht     ct     cpht 
           --------  ------  ------  ------  ------  -----  -----  -----  -----  -------  ------ 
 BS-1228      249     84.50   33.95   58.58   23.54   1.85   0.74   0.16   0.06   145.08   58.29 
           --------  ------  ------  ------  ------  -----  -----  -----  -----  -------  ------ 
 BS-1208      123     3.53    2.86    1.08    0.87     0      0      0      0      4.61    3.73 
           --------  ------  ------  ------  ------  -----  -----  -----  -----  -------  ------ 
 

Sapphire was the dominant gem mineral from BS-1228 with the largest sapphire 3.04 ct. The results are in line with previous bulk sample results in Zone 1 to date, with the exception of BS-1212, in that the TMA in BS-1228 was dominated by the HIM Suite (85%).

In contrast, but in keeping with the majority of the earlier bulk samples, BS-1208 results were dominated by the Carmel Sapphire(TM) (37%), followed by the sapphire (16%). Although no diamond, moissanite, ruby or hibonite were recovered from BS-1208, this bulk sample was unusual, but similar to BS-1212, in that the TMA was dominated by the DMCH suite (53%). The HIM suite (47%) was also unusual in BS-1208 in that only garnet (36%) and ilmenite (11%) were recovered with zircon and rutile seemingly absent.

The largest gemstone recovered from BS-1208 was a 0.88 ct sapphire. Although a comparatively small stone, this size is in keeping with the lowest TMA grade returned so far in Zone 1, viz. 7.93 cpht for BS-1208, pointing to immature trapsite development at that locality in Zone 1.

The variation in overall grades is what might be expected for a placer with semi mobile trapsites. The TMA was represented by all minerals except for diamonds, which have only rarely been found in the Kishon Mid Reach area.

Avi Taub, CEO of Shefa Yamim, said: "We are delighted to mark the end of Bulk Sampling in Zone 1, which consisted of processing over 6375 tonnes of material which confirmed the presence of diverse gem minerals. We have started processing bulk samples collected from Zone 2 and expect to process five bulk samples consisting of 2900 tonnes of gravel. We look forward to reporting on our progress as we continue to assess the resource potential of the Kishon Mid-Reach area."

Information on historical bulk samples can be found on our website:

https://irp-cdn.multiscreensite.com/ac660adf/files/uploaded/SY_CPR_10_2017.pdf

   -     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                        [phone] 
                                           ----------------- 
 
 VSA Capital Limited - Financial Adviser 
  and Broker 
                                           ----------------- 
 Andrew Raca, Stephanie Jury                [phone] 
                                           ----------------- 
 
 Daniel Stewart & Company - Joint Broker 
                                           ----------------- 
 Jon Levinson, Richard Potts                [phone] 
                                           ----------------- 
 
 Luther Pendragon 
                                           ----------------- 
 Harry Chathli, Ana Ribeiro, Alexis 
  Gore                                      [phone] 
                                           ----------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 14, 2018 02:00 ET (06:00 GMT)