Partners Wanted for a New Gold Discovery in Israel
JERUSALEM, Jan. 8, 2020 /PRNewswire/ -- In the land of Ophir near the city of Eilat, private exploration company Mirbatzei Zahav Ltd. has made a significant gold discovery and is looking for investment partners to develop its property.
Archeologists speculate that King's Solaman's Mines might also be located at this mountainous region in southeast Israel.
Since ancient times, the area has been known for its vast mineral wealth. The region's Timna Valley is known for its archeological treasures, rich copper deposits and a surprising number of golden artifacts. There's also evidence that there were once 10,000 copper mines in the area.
Mirbatzei Zahav Ltd. owns a 4,942 acre-property within the region called the Roded Gold Property and has found a significant gold discovery at its site. It's looking for active investors to develop the property, which is only a five km north from the city of Eilat.
Minor gold explorations were conducted by the State of Israel in the area. Drill core samples to a depth of 51 and 56 meters revealed some surprising significant gold values from 2.5 g/t Au and up to about 9 g/t Au. In January 2019, an exploration and mining permit was obtained by the company from The Israeli Ministry of Energy's Natural Resources Administration.
The permit allows the company exclusive rights to commercial mineral prospecting and mining in the Roded Gold Property. When mining operations become commercial, the company is obligated to pay a 5% royalty to the government of Israel. Mirbatzei Zahav Ltd. intends to conduct further drillings to peruse the full potential of gold mining operations in the area defined by the permit.
Professor C. Tucker Barrie is the company's Economic Geologists. With more than 30 years of experience, he has seen similar rocks to those on the property owned by another company bearing a million ounces of gold.
After visiting Roded Gold Properties in February 2019, Professor Barrie issued a report for further exploration, so that the additional drillings will allow the team to fully map the geological structures and gain a stronger indication for rare metals.
It is the company's intention to pursue, in parallel to the additional drillings, to either an IPO, mergers and acquisitions or forming a strategic partnership.
Geology
The geology of the Roded Gold Property is underlain by Neoproterozoic rocks of the Arabian Nubian Shield geological province. These rocks are famous for hosting significant gold and base metal deposits as well as hundreds of mines in northeast Africa and in the Arabian Peninsula.
There's also potential for mesothermal and/or epithermal gold vein mineralization, and alluvial gold mineralization on the property.
Economic advantage of the location
One of the major economic attractions of the development of a potential mine on this property is its location. The property has a massive working water pipe for the drilling equipment. It's also only a 10-minute drive from city of Eilat. The city has an international airport, a deep-water port in the Red Sea and easily accessible by working staff.
Working with the best
To ensure high professional industry standards, the company hires first rate leading industry experts such as Geology Professor C. Tucker Barrie from Ottawa, Canada. Professor Tucker has an international license and his expert reports have been formally submitted to stock exchanges around the world.
He has a Ph.D. in Economic Geology and Geochemistry from the University of Toronto and a M.Sc. in Economic Geology from the University of Texas. His expertise includes mineral exploration, exploration research and management, metallic mineral ore deposits, geology, geochemistry, mineralogy and more.
Roy Avneri, a Tel Aviv based leading commercial attorney, is the company's lawyer. He's a well-known attorney and graduated from Tel Aviv University Law Faculty, LL.B, with merit, Tel Aviv University School of Economics, B.A., with merit and the The Hebrew University School of Business Administration, Executive MBA in Financial Engineering and Banking, with merit. He's been a member of the Israeli Bar Association since 1998.
Mirbatzei Zahav Ltd. is a privately held company owned by Mr. Eli Hacham who is a serial entrepreneur. In recent years, he has founded and developed companies in IT and bought Mirbatzei Zahav Ltd. in 2018 to develop natural resources in Israel
For more information https://www.mirbatzeizahav.com/. If you're interested in forming a partnership to this incredible find, kindly contact the company through its legal counsel Roy Avneri at [email protected] or +972.3.6935600.
SOURCE Mirbatzei Zahav Ltd.
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