Prospecting Licence Renewed

RNS Number : 9154J

Shefa Gems Ltd

22 August 2019

 

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22 August 2019

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

("Shefa Gems" or the "Company")

Prospecting Licence Renewed  

Shefa Gems (LSE: SEFA), a precious stone exploration and prospecting Company in Northern Israel, is pleased to announce that its first Prospecting Licence, over its alluvial exploration target, the Kishon Mid-Reach Zone 1 Project, has been renewed for a period of 12 months.

The renewed Prospecting Licence (869C10) is granted for Diamonds, Gold and Precious Stones in the Kishon Mid-Reach Zone 1, covering an area of 252 Dunams (25.2 hectares). The renewal will enable the Company to apply for a 'Certificate of Discovery', providing the Company with exclusive rights over a mining licence.

Shefa Gems has four permits in total. In addition to the Prospecting Licence (869C10), the Company has prospecting permits 837A12, for the Carmel site covering 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 Company also has exploration permit 869B11 covering 173,636 Dunams (17,363 hectares), which has been recently renewed, as announced in July 2019.

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 Gems, said: "We are pleased to renew our Prospecting Licence which is another step forward as we continue to progress through the planning and regulatory procedures to advance the Kishon Mid-Reach Zone 1 with a view to begin trial mining in 2020."

James Campbell, Non-Executive Director, will discuss the announcement in a video blog that will be uploaded to the Company's website later today.

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Enquiries

Shefa Gems Ltd
Michael Rosenberg, OBE - Chairman  www.shefagems.com	[phone]
VSA Capital Limited - Financial Adviser
Andrew Raca	[phone]
SI Capital Limited - Broker and Strategic Adviser
Nick Emerson and Jon Levinson	[phone] / [phone]
Luther Pendragon
Harry Chathli, Alexis Gore, Rachel So	[phone]

Notes to Editors

About Shefa Gems Ltd

Shefa Gems Ltd (LSE: SEFA) is a multi-commodity explorer of precious stones operating in Northern Israel. Exploration activity is managed by professionally skilled and technically competent personnel and is accompanied by an international team of geological experts with decades of proven experience in their fields.

All exploration activities are conducted under international standards and the internationally recognised SAMREC 2016 Code. Furthermore, its four (4) permits, granted to it by the Commissioner of Mines at the Ministry of Energy, Natural Resources Administration, Israel, extend over an area of approximately 600,000 Dunam (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. The Company upholds environmental values and protects the nature in the areas where it operates, cooperating fully with all authorities.  

Alongside its exploration activities, the Company is building on the launch of the "Heaven on Earth" jewellery collection and developing the Company's "Mine to Market" strategy to promote unique jewellery collections utilising Shefa Gems' suite of precious gemstones.

The exclusive "Heaven on Earth" collection is now available to view online on the website of the designer Yossi Harari at: www.yossiharari.com/collections/heaven-on-earth

For further information please visit the website at www.shefagems.com 

 

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