Shefa Yamim ATM (LON:SEFA) has appointed PPM, a South African project management and engineering company with extensive experience in carrying out due diligence work as well as managing and executing projects, to provide working and capital cost estimates for bringing the Kishon Mid-Reach alluvial precious stones deposit into production.
The report, which is due to be completed by the end of August 2018, is the first step in starting to build the economic profile of the project as the company progresses towards commercial production. A SAMREC-compliant resource will follow.
To date, the Shefa Yamim has carried out an extensive exploration programme and has delineated several potential primary sources and secondary deposits that host precious stones on its 600 square kilometres of ground.
Currently, the company is focusing on mapping, drilling of boreholes and taking bulk samples at the Kishon Mid-Reach placer, the priority target.
Shefa’s ground is prospective for several different types of precious stone, including diamond and sapphire. More than 9,700 carats have already been recovered in a bulk sample taken earlier this year.