|
JBL
JUJLP
JBL-Jubilee- Funding for Phase Two Exploration at Ambodilafa Project, Madagascar
JUBILEE PLATINUM PLC
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162
("Jubilee" or "the Company")
Funding for Phase Two Exploration at Ambodilafa Project, Madagascar
Jubilee and its joint venture partner Impala Platinum Holdings ("Impala")
announce the approval of an exploration budget of up to US$1.25 million for
phase two exploration at the Ambodilafa nickel-copper-platinum project in
Madagascar. For the past year Impala has been providing full funding for the
exploration programme at Ambodilafa.
This Phase two exploration programme will focus on a 10 to 12-hole drilling
programme in three areas and further field exploration including mapping and
soil sampling necessary to extend the mineralized horizon identified during
Phase 1 drilling.
Colin Bird, CEO of Jubilee, said;"Several targets in the extensive Ambodilafa
area require testing prior to more focused drilling. We are delighted that
Impala has elected to participate in this next important phase of exploration"
In 2006, the Company drilled three holes in the southern portions of the
licence, of which one hole, drilled on a geochemical anomaly on the fringes of
the geophysical anomaly intersected massive, semi-massive, net textured and
disseminated nickel-copper sulphide mineralisation at a depth of 24m and which
generally persisted, although not continuously, to a depth of some 220m.
Higher grade intersections included 2.2m at 1.29%Ni, 0.31%Cu, and 0.31g/t 2
platinum group elements (2PGE) + gold(Au) and 6.5m at 0.61%Ni, 0.30%Cu and
0.12g/t 2PGE+Au.
Geological mapping, geochemical sampling, reinterpretation of the geophysical
data and results of new radiometrics survey data recently made available have
provided new information on the extent and orientation of the intrusion and
delineated areas with potential for nickel-copper as well as PGE
mineralization.
About Ambodilafa
The Ambodilafa project lies within the 17.5 kilometre long by 6 kilometre wide
(as revealed by new airborne radiometrics survey recently made available)
Vohipaha ultramafic intrusive southeast of the Madagascan capital
Antananarivo. Mineralisation is associated with semi-massive, net textured and
disseminated pyrrhotite and chalcopyrite hosted by pyroxenite, olivine
pyroxenite, peridotite and olivine gabbro lithologies. The textures observed
suggest an orthomagmatic origin to the mineralization due to primary magmatic
sulphide segregation within an ultrabasic intrusive body.
The prospecting licence is held by Mineral Resources of Madagascar Sarl, 100%
owned by Jubilee. Implats has an option agreement with Jubilee to earn in a
51% interest in the project.
For further information please contact:
Colin Bird Louise Goodeve / Justine Howarth
Jubilee Platinum plc Parkgreen Communications Ltd
Tel: 07768 397 627 Tel +44 20 7851 7480
Andrew Sarosi
Jubilee Platinum plc
Tel +44 (0) 1752 221 937
Date: 06/08/2007 08:00:05 Produced by the JSE SENS Department.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
