| Thu 13 Dec 2007, 9:00 | | JBL - Jubilee Platinum Plc - Madagascar - Ambodilafa drilling update |
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JBL
JUJLP
JBL - Jubilee Platinum Plc - Madagascar - Ambodilafa 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")
13 December 2007
Madagascar - Ambodilafa Drilling Update
Jubilee Discovers Primary Platinum Mineralisation in Ambodilafa
Highlights:
* Borehole ALF004 intersected a 0.89m (apparent width) layer assaying 3.99g/t
platinum, palladium, rhodium and gold (4E) at 200m below surface
* The platinum to palladium ratio is 1.4:1
* The company will test dip continuity and strike extension
Jubilee is pleased to announce a first drill strike within the Amodilafa
intrusion of a primary mineralised platinum group element (PGE) layer. Borehole
ALF004 intersected PGE mineralisation at 200m down the hole in a new untested
area on its Ambodilafa project, a joint venture with Impala Platinum Holdings
(Implats). The prospecting licence is held by 100%-owned Mineral Resources of
Madagascar Sarl. Implats have an option agreement with Jubilee to earn in 51%
interest in the project.
Colin Bird, CEO of Jubilee commented; "This first drill intersection of primary
platinum mineralisation in Ambodilafa, supports the company`s belief that the
Ambodilafa ultramafic intrusive has the potential to host nickel and PGE
mineralisation. Preliminary soil sampling results this year demonstrated a
pronouncd PGE geochemical anomaly trending some 3000 metres north of the
intersection and it is open ended."
Borehole ALF004 is part of a four-hole fence programme targeting a pronounced
open-ended Pt and Pd-in-soil anomaly (defined during the 2006 field season) near
the eastern margin of the Ambodilafa ultramafic/mafic layered intrusive. The
PGE mineralized core is a pegmatoidal to very coarse-grained pyroxenite with
trace disseminated base metal sulphides. The remaining boreholes in the fence
are still being analysed. The borehole also intersected a mineralised gold layer
over 1.0m (apparent thickness) at 1.59g/t at 325m down hole.
The current area of soil sampling and drilling covers some 18 square kilometres
(about 25%) of a total 68 square kilometres in the southern end of the
intrusive.
Table 1 Borehole ALF004 results
From To Interval 4E Au Pt Pd Rh
metres DH metres DH metres* g/t g/t g/t g/t g/t
200.23 201.12 0.89 3.99 0.05 2.08 1.46 0.40
* Apparent thickness DH down hole
Table 2 Borehole ALF004 coordinates
Final depth m Northing utm Easting utm Azimuth true N Inclination
402 208573 7737422 0200 -600
About Ambodilafa
Jubilee`s large Ambodilafa concession hosts an extensive ultramafic/mafic
layered intrusion some 4 to 6 kilometres wide by 17 kilometres long. The
property is located 160 kilometres southeast of the Madagascan capital
Antananarivo.
The western portion of the ultrmafic/mafic intrusive is predominantly
characterised by nickel sulphide mineralisation (borehole ALF003 results -
previously announced July 2006) manifesting as 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
suphide segregation within an ultramafic intrusive body.
Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, South
Africa, carried out the analyses of the borehole samples. Quality control and
assurance in place currently comprises of standards, blanks and check samples
making between 10% and 20% of samples submitted.
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
Date: 13/12/2007 09:00:01 Produced by the JSE SENS Department.
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