| Thu 11 Oct 2007, 8:30 | | JBL - Jubilee Platinum Plc - Update Of Drilling Re |
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JBL
JUJLP
JBL - Jubilee Platinum Plc - Update Of Drilling Results
JUBILEE PLATINUM PLC
("Jubilee" or "the Company")
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162
11 October 2007
Exceptional PGM Values (Plus 10g/t) and Reef Thickness Intersected at Tjate
Highlights
Borehole DT9 results (motherhole) showed 10.98 g/t 4E (platinum, palladium,
rhodium and gold), 0.33% nickel (Ni) and 0.23% copper (Cu) over apparent 2.21
metres thickness and in the footwall (FW) 9.12 g/t 4E, 0.28% Ni and 0.16% Cu
over 2.15 metres
First deflection showed 6.75g/t 4E, 0.30% Ni and 0.15% Cu over 2.48 metres in MR
and 11.05g/t 4E, 0.38% Ni and 15% Cu over 1.80 metres in the footwall
Total MR only (with 3 deflections) showed weighted average 6.30 g/t 4E, 0.24% Ni
and 0.14% Cu over 2.01 metres
Total MR plus footwall showed weighted average 8.11g/t 4E, 0.29% Ni and 0.17% Cu
over 2.91 metres
Merensky reef intersected at a depth of 822 metres and UG2 reef at 1211 metres
UG2 (including 2 deflections) results showed weighted average 5.96 g/t 4E over
0.94 metres
Jubilee Platinum announces exceptional results for its borehole DT9 on the
Dsjate farm area of the Tjate Project in the Bushveld Complex of South Africa.
This borehole was stepped out some 500 meters along strike to the north of the
most northerly line of previously drilled boreholes. This development extends
significantly the area of mineralisation for resource estimation.
Detailed results for this borehole are shown in Table 1 appended.
Colin Bird, CEO of Jubilee and Tjate Project Manager, said: "These are
exceptional Merensky reef results both in terms of grade and reef thickness. The
Tjate deposit is demonstrating consistency, reliability and high grade, which
gives us the confidence to embark on our bankable feasibility study."
Table 1 DT9 results for Merensky Reef (MR), Footwall (FW) and UG2 reef
intersections
Apparent 4E Pt Pd Rh Au Ni Cu Pt:Pd
thickness g/t g/t g/t g/t g/t % % ratio
(m)
Merensky
Motherhole 2.21 10.98 6.11 3.67 0.27 0.92 0.37 0.13 1.7
MR
Motherhole 2.15 9.12 5.04 3.08 0.20 0.79 0.28 0.16 1.8
FW
Total 4.36 10.06 5.59 3.38 0.24 0.86 0.33 0.20 1.7
motherhole
Deflection 2.48 6.75 3.50 2.51 0.22 0.52 0.30 0.15 1.4
1 MR
Deflection 1.80 11.05 5.70 3.99 0.20 1.17 0,38 0.20 1.4
1 FW
Total 4.28 8.56 4.43 3.13 0.21 0.79 0.34 0.17 1.4
deflection
1
Deflection 1.00 4.09 2.57 1.18 0.10 0.25 0.17 0.09 2.2
2 MR
Deflection 2.00 4.89 2.90 1.40 0.12 0.47 0.13 0.19 2.1
3 MR
Wtd. ave. 2.01 6.30 3.49 2.12 0.16 0.52 0.24 0.14 1.7
MR
Wtd. ave. 2.91 8.11 4.44 2.76 0.17 0.72 0.29 0.17 1.6
MR+FW
UG2
Motherhole 1.05 5.30 2.38 2,31 0.53 0.08 na na 1.0
Deflection 0.80 6.43 2.94 2.75 0.63 0.11 na na 1.1
1
Deflection 0.96 6.29 2.73 2.83 0.62 0.10 na na 1.0
2
Wtd. ave. 0.94 5.96 2.66 2.61 0.59 010 na na 1.0
na not applicable
Note to Editors
The Tjate project comprises three contiguous farms, totalling 5,143 hectares in
the eastern Bushveld: namely Dsjate, Fernkloof and Quartz Hill. The farms are
downdip of Impala Platinum`s operating Marula platinum mine and of Anglo
Platinum`s developing Twickenham platinum mine. Jubilee has recently completed a
postive scoping study based on the first phase drilling of seven boreholes on
the Dsjate farm. All the holes, as previously reported, intersected at targeted
depths the Merensky reef and, where drilled deeper, the UG2 reef. These two
reefs are the two main PGM-bearing horizons in the Bushveld.
SGS Lakefield Research Africa in Johannesburg carried out the analyses of the
borehole core samples. This laboratory is SNAS TO169 accredited.
For further information please contact:
Colin Bird Louise Goodeve / Justine Howarth
Jubilee Platinum plc Parkgreen Communications Ltd
Tel: +44 (0) 20 7584 2155 Tel +44 (0) 20 7851 7480
10 October 2007
Sponsor : Investec Bank Limited
Date: 11/10/2007 08:30:01 Produced by the JSE SENS Department.
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