Shefa Gems Ltd Exploration Permit Renewal and Operational Update (6446G)
July 25 2019 - 2:02AM
UK Regulatory
TIDMSEFA
RNS Number : 6446G
Shefa Gems Ltd
25 July 2019
B"H
25 July 2019
Shefa Gems Ltd.
("Shefa Gems" or the "Company")
Renewal of Exploration Permit and Operational Update
Shefa Gems (LSE: SEFA), a company focused on advanced
exploration and development of multi-gemstone projects in Northern
Israel, is pleased to announce that the Commissioner of Mines at
the Ministry of Energy, Natural Resources Administration in Israel
has renewed exploration permit 869B8 covering the Kishon River and
Kishon Mid Reach Zones 2 and 3 for a further year. The renewed
exploration permit, 869B11, includes four volcanic bodies on Mount
Carmel; RMC (Rakefet Magmatic Complex), Muhraka, Har Alon and Beit
Oren, the eastern slope of Mt. Carmel, Zevulun and west Yizre'el
valleys.
Exploration Permit 869B11 covers a total of 173,636 Dunams
(17,363 hectares) and entitles the Company to continue conducting
geological exploration at the site including further drilling and
excavations. Kishon Mid Reach Zone 1 is held separately inside
Prospecting Licence 869C9.
Shefa Gems is also pleased to confirm that it is continuing to
progress the planning and regulatory procedures for Zone 1 to
obtain a mining licence to begin planned trial mining in 2020.
Additionally, work-streams to expand the Company's resources base
by exploration efforts in Zone 3 of the Kishon Mid Reach area
remain on schedule.
Avi Taub, CEO of Shefa Gems, said: "The renewal of this permit
is an important, symbolic step that demonstrates the confidence the
authorities have in the Company and its exploration programme.
"With the additional funding secured in May 2019, we have been
able to accelerate our exploration efforts in the Kishon Mid Reach
area. Notably, the bulk samples recently collected from the
campaign at Kishon Mid-Reach Zone 2 have begun treatment and
analysis at the Company's operational site in Akko. We look forward
to sharing the results in due course."
- Ends -
Enquiries
Shefa Gems Ltd
Michael Rosenberg, OBE - Chairman
www.shefagems.com +44 20 7938 4026
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VSA Capital Limited - Financial
Adviser
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Andrew Raca +44 20 3005 5000
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SI Capital Limited - Broker and
Strategic Adviser
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+44 20 3871 4038 / +44
Nick Emerson and Jon Levinson 1483 413500
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Luther Pendragon
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Harry Chathli, Alexis Gore, Rachel
So +44 20 7618 9100
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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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contact rns@lseg.com or visit www.rns.com.
END
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