Shefa Yamim, a precious stone exploration company in Northern Israel, has raised some £250,000 cash (before expenses) through the subscription by new and existing investors (the “Subscription”) of 312,500 new ordinary shares. The net proceeds of the Subscription will be used by Shefa Yamim to advance its project in Zone 1 of the Kishon Mid-Reach Area towards trial mining, make progress with bulk sampling in Zone 2 of the Kishon Mid-Reach Area and for working capital purposes.
As announced in July 2018, Shefa Yamim appointed Paradigm Project Management (PPM), to conduct a Technical Economic Evaluation (TEE) of its advanced alluvial exploration target, the Kishon Mid-Reach Zone 1. The TEE report is progressing and along with the work currently being done by world renowned jewellery designer Yossi Harari, the company is at an advanced stage of building the economic profile as it progresses towards trial mining.
Shefa Yamim is a multi-commodity precious stone exploration and prospecting company in Northern Israel. It has two flagship projects, Mount Carmel (volcanic primary bedrock sources of gemstone and industrial minerals) and the Kishon Mid Reach (secondary alluvial placer deposits hosting the gemstone and industrial minerals derived from primary bodies).
After 18 years of exploration in a “greenfields” terrain, Shefa Yamim established a “Source to Sink” geological model and the presence of a Target Mineral Assemblage (TMA) in both primary volcanic sources and in secondary alluvial deposits lying within the Kishon catchment, on Mount Carmel and in the Ramot Menashe area.
The TMA comprises gemstones and industrial minerals. The gemstones collectively make up the “Gem Box” suite, comprised of diamond (rare and small macro-diamond to microdiamond sizes), natural moissanite (that is rare globally), sapphire, ruby, Carmel Sapphire (a new sapphire type found, to date, only in northern Israel), hibonite (another rare gem), garnet, ilmenite and spinel. The heavy industrial minerals constitute the “HIM” suite hosting zircon (which may be gem grade at larger sizes) and rutile.