Shefa Yamim (A.T.M.) Ltd Shefa Yamim Receives First Prospecting Licence (9278X)

TIDMSEFA

RNS Number : 9278X

Shefa Yamim (A.T.M.) Ltd

15 August 2018

B"H

15 August 2018

Shefa Yamim (A.T.M.) Ltd.

("Shefa Yamim" or the "Company")

Shefa Receives first Prospecting Licence and Renews Exploration Permit

for the Kishon Mid-Reach Area

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 km(2)) 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.

Kishon Mid-Reach

The Kishon Mid-Reach placer is the Company's most advanced exploration project and ongoing exploration activities are being undertaken with the aim of defining a SAMREC 2016 compliant Mineral Resource. The target is 4.5km long and about 150 metres wide (right bank of the Kishon) with gravel layers of variable thicknesses between 0.5 m and 4.5 m. The TMA Suite includes the following gemstones; Diamond (rare), Spinel, Carmel Sapphire(TM), Sapphire, Ruby, Moissanite, Hibonite, Garnet, Ilmenite, Zircon and Rutile are found within the gravel layers.

The Company has delineated the Kishon Mid-Reach placer in three zones: Zone 1, Zone 2 and Zone 3, all of which are at different stages of development. Zone 1 and 2, which cover c.3.5km of the total length of the placer. Zone 1 is believed to contain some 1.1 Mt. of gemstone bearing gravel. These two zones have been the focus of the Company's drilling and bulk sampling programme. In Zone 1 the Company completed the processing of 137 drilling survey following by 14 bulk sampling campaign producing a total of 9,778.15 carats from 6,384 tonnes of gravel.

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."

- Ends -

Enquiries

 
 Shefa Yamim (A.T. M.) Ltd. 
 Avi Taub, Chief Executive Officer 
  www.shefayamim.com                        [phone] 
                                           ----------------- 
 
 VSA Capital Limited - Financial Adviser 
  and Joint Broker 
                                           ----------------- 
 Andrew Raca, Stephanie Jury                [phone] 
                                           ----------------- 
 
 Daniel Stewart & Company - Joint Broker    [phone] 
                                           ----------------- 
 Jon Levinson, Richard Potts                [phone] 
                                           ----------------- 
 
 Luther Pendragon 
                                           ----------------- 
 Harry Chathli, Ana Ribeiro, Alexis 
  Gore                                      [phone] 
                                           ----------------- 
 

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August 15, 2018 10:03 ET (14:03 GMT)