| Thu 22 Nov 2007, 9:00 | | JBL - Jubilee Platinum Plc - Madagascar Mavoandro |
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JBL
JUJLP
JBL - Jubilee Platinum Plc - Madagascar Mavoandro drilling update
Jubilee Platinum Plc
(Incorporated in the United Kingdom)
(Registration number 4459850)
AIM code: JLP
JSE code: JBL
ISIN: GB0031852162
(the "Company" or "Jubilee")
Madagascar - Drilling Update at Londokomanana Project
Second Borehole Confirms New Nickel Mineralisation with PGE Credits In Northern
Londokomanana
Highlights:
* A second borehole, drilled 400metres to the north of the previously
announced new nickel discovery in the Mavoandro ultramafic formation,
intersects very wide widths of disseminated nickel-bearing sulphide
mineralisation with platinum group element (PGE) mineralisation in
association.
* Borehole MAV004 intersects 136 metres of wide intervals of disseminated
sulphide mineralisation ranging from 3m to 84m widths with weighted average
nickel values in the range 0.22% to 0.26% and peak values of up to 0.35% Ni
over 1m widths. PGE credits are up to 0.16g/t.
* Thick widths and shallow mineralisation fits with bulk mining target key
criteria
Borehole MAV004 - Selected results
Intersection
From To Interval Ni
metres metres metres %
62 146 84 0.22
Including 63 101 28 0.24
64 65 1 0.32
64 67 3 0.26
82.3 83.1 0.8 0.35
102 120 18 0.23
147 169 22 0.24
Including 158 159 1 0.36
173 178 5 0.21
183 189 6 0.23
191 198 7 0.23
Including 196.3 197 0.7 0.32
Borehole MAV004, as with previous borehole MAV002, targeted coincident
electromagnetic conductivity and geochemical copper anomalies. The lithologies
intersected generally comprise sequences of medium grained olivine pyroxenite,
pyroxenite, olivine gabbro and peridotite, within which occur disseminated
sulphides.
The Mavoandro ultramafic formation lies some 8 kilometres north along strike of
the mineralised ultramafic formations at Antsahabe, where previous drilling by
Jubilee intersected two wide zones of 48 metres and 32 metres width respectively
with excellent sulphide mineralisation
Colin Bird, CEO of Jubilee commented, "This second intersection of nickel
mineralisation, in the newly discovered area at Mavoandro that was announced 14
November, is extremely encouraging. We now have a defined marker to target
further drilling moving towards infill drilling.
Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, South
Africa, carried out analyses of the samples. Quality control and assurance in
place currently comprises of standards, blanks and check samples making up
between 10% and 20% of samples submitted.
Note to Editors
The Londokomanana project is a joint venture company with TransAsia Minerals
Limited, who own 51% of the company in return for an expenditure of US$7
million.
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
22 November 2007
Sponsor: Investec Bank
Date: 22/11/2007 09:00:01 Produced by the JSE SENS Department.
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