Shefa Yamim ATM (LON:SEFA) has landed its first prospecting licence, covering the Kishon Mid-Reach Zone 1, an alluvial target in Northern Israel.
It enables the company to carry out work for a conceptual mining plan as well as a technical economic evaluation, in turn allowing it to move towards securing a 'certificate of discovery' and first mining licence.
WATCH: Shefa Yamim to build economic profile of Kishon Mid-Reach
"We are delighted to have received our first prospecting licence over the Kishon Mid-Reach-Zone 1, our most advanced project out of all other potential locations within the permit areas in which the company operates,” said Avi Taub, chief executive.
“The company has worked methodically and systematically to meet all the required criteria needed to advance towards the target for trial mining in 2019."
Specifically, Shefa Yamim has secured the prospecting licence granted for diamonds, gold and precious stones across a 25.2-hectare area. At the same time, it has renewed an exploration permit for a 17.3-hectare area.
Both come with twelve-month durations.