Shefa Yamim secures renewal for prospecting permits in Israel

10 May 2018 (Last Updated May 11th, 2018 10:34)

Multi-commodity gemstone mining exploration firm Shefa Yamim has secured two extended prospecting permits from the Israel Ministry of Energy Natural Resources Administration.

Multi-commodity gemstone mining exploration firm Shefa Yamim has secured two extended prospecting permits from the Israel Ministry of Energy Natural Resources Administration.

The permits, 837A11 and 899A6, cover a total aggregate area of 44,045ha, including the Carmel site spanning 32,755ha and the Ramot Menashe site covering 11,290ha.

Shefa Yamim is set to have exclusive prospecting rights for diamonds, gold and precious stones over the permitted areas for a period of one year.

The permits will also enable the company to carry out all the activities required for prospecting developments in the region.

Shefa Yamim’s exploration portfolio is about 60,000ha following the receipt of the renewed permits, including permit 869B7, which covers 17,389ha.

The company’s portfolio also includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre’el valleys and their margins, namely the Menashe Hills, Tivon-Alonim Hills and Nazareth range.

Shef Yamim was originally established in 1999 and is currently targeting the primary volcanic sources on Mount Carmel, as well as the secondary sources of valley-filled sediment deposits located in the Kishon River catchment via exploration programmes.

Shefa Yamim previously stated in February that it had completed several upgrades at its operational site in Akko, Israel, in order to increase the processing capacity from the original 30t to a total of 50t per day.

Additionally, the company declared the results of a study conducted by Macquarie University that was aimed at understanding the discovery of a suite of gemstones in the Kishon Mid-Reach exploration area, which includes natural moissanite and Carmel Sapphire.

The study revealed the presence of Permo-Triassic-Jurassic rocks deep beneath Mount Carmel.