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JBL
JUJLP
JBL - Jubilee Platinum Plc - Drilling update from Antsahabe prospect, Madagascar
JUBILEE PLATINUM PLC
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162
("Jubilee" or "the Company")
Drilling Update from Antsahabe Prospect, Madagascar
Nickel-Copper Mineralisation Intersected in Borehole ANT014
Jubilee announces further encouraging drill results from the Antsahabe prospect
in the northern area of its Londokomanana nickel-copper property in Madagascar.
Borehole ANT014 intersected two zones of continuous nickel (Ni) and copper (Cu)
sulphide mineralization in medium to coarse-grained pyroxenite.
Highlights:
* Drilling intersected two wide zones of nickel (Ni) and copper (Cu) sulphide
mineralisation at depths of 155 metres and 205 metres respectively in
Borehole ANT014.
* Zone 1 intersected 4.4 metres assaying a weighted average of 0.69% Ni (at
cut off 0.2% Ni) and 0.16% Cu including 3.5 metres assaying 0.75% Ni and
0.18% Cu.
* Zone 2 intersected 11.4 metres assaying 0.39% Ni and 0.10% Cu including 9.3
metres assaying 0.44% Ni and 0.11% Cu.
The summarised selected results for borehole ANT014 are given in Table 1 below.
Table 1 Borehole ANT014 selected drilling results
From To Interval Ni Cu 3E
metres metres metres % % g/t
154.62 159.02 4.4 0.69 0.16 0.10
Including 154.62 158.2 3.58 0.75 0.18 0.11
204.61 215.96 11.35 0.39 0.10 0.07
Including 206.66 215.96 9.30 0.44 0.11 0.07
Detailed results for the two zones are appended in Table 2 below.
Colin Bird, CEO of Jubilee commented; "Following the positive results from
borehole ANT009 (announced 3rd October 2007), we are very pleased with the
excellent nickel results for this borehole ANT014, which lies 1.13 kilometres
northwest of ANT009, so giving a potential strike of mineralisation in excess of
1 kilometre and it remains open ended. During the latter part of the current
rainy season we are modelling all of our Londokomanana data with a view to
moving aggressively towards lifting the status of the project drilling from
exploration to infill."
Borehole ANT014
Location: 8070186N 737121S
Total Depth: 300.10m
Azimuth: 240 , dip -50
Borehole ANT014 was collared towards the north-eastern margin of the Antsahabe
ultramafic-mafic intrusion, and is stepped out some 160 metres north of borehole
ANT001 (as previously announced 4 January 2006 - 0.64% Ni over 27.3 metres at 15
metres depth (down-hole) and 0.60%Ni over 17.3 metres at 54 metres) and some 100
metres to the north east of a line of strike running northwest - southeast
through boreholes ANT001 and ANT009.
The mineralisation is hosted in medium- to coarse-grained pyroxenite and occurs
as disseminated and net-textured Ni and Cu sulphides (commonly pyhrrotite,
pentlandite, chalcopyrite). Borehole ANT014 represents a step-out from ANT001,
and together targets part of the Cu-Ni-Cr in-soil anomaly associated with the
Antsahabe ultramafic-mafic body.
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 between
10% and 20% of samples submitted.
The Londokomanana project is a joint venture with TransAsia Minerals Limited,
who have the right to earn-in 51% of the project 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
Table 2 Borehole ANT014 - Detailed results of the two zones of mineralised
intersections
From To Interval Au Pt Pd 3E Cu Ni
metres metres metres g/t g/t g/t g/t ppm ppm
Zone 1
154.62 154.93 0.31 0.02 0.03 0.06 0.11 1324 6498
154.93 155.13 0.2 0.02 0.03 0.06 0.11 2081 7940
155.13 155.33 0.2 0.02 0.04 0.05 0.11 2070 7776
155.33 155.53 0.2 0.02 0.05 0.05 0.12 2260 7949
155.53 155.73 0.2 0.03 0.04 0.06 0.13 2276 7631
155.73 155.93 0.2 0.03 0.03 0.05 0.11 1686 6657
155.93 156.13 0.2 0.01 0.03 0.05 0.09 2268 7682
156.13 156.33 0.2 0.02 0.04 0.06 0.12 1777 7705
156.33 156.53 0.2 0.02 0.05 0.06 0.13 1982 8134
156.53 156.76 0.23 0.02 0.05 0.06 0.13 1724 8056
156.76 156.96 0.2 0.01 0.02 0.04 0.07 1553 6372
156.96 157.17 0.21 0.03 0.05 0.06 0.14 1713 7785
157.17 157.37 0.2 0.03 0.03 0.06 0.12 1896 7960
157.37 157.57 0.2 0.01 0.04 0.05 0.1 1807 7359
157.57 157.77 0.2 0.01 0.03 0.05 0.09 1298 7330
157.77 157.97 0.2 0.02 0.04 0.05 0.11 1285 7287
157.97 158.20 0.23 0.02 0.03 0.05 0.1 1256 7289
158.20 158.48 0.28 0.01 0.02 0.04 0.07 1060 5324
158.48 158.68 0.2 0.02 0.02 0.03 0.07 1057 4000
158.68 159.02 0.34 0.02 0.02 0.03 0.07 890 4483
Zone 2
204.61 205.62 1.01 0.01 0.01 0.02 0.04 596.4 2618
205.62 205.905 0.285 0.01 0.01 0.03 0.05 707.8 2822
205.905 206.66 0.755 0.01 0.01 0.01 0.03 137.9 755
206.66 207.365 0.705 0.01 0.01 0.04 0.06 1068.0 4567
207.365 207.975 0.61 0.01 0.03 0.04 0.08 1006.0 3483
207.975 208.795 0.82 0.01 0.02 0.03 0.05 1143.0 4231
208.795 209.795 1.00 0.02 0.06 0.04 0.12 1050.0 3704
209.795 209.82 0.025 0.01 0.04 0.03 0.07 925.0 3813
209.82 210.82 1.00 0.01 0.03 0.03 0.07 1273.0 4862
210.82 211.82 1.00 0.01 0.03 0.04 0.07 1092.0 4639
211.82 212.105 0.285 0.01 0.01 0.03 0.05 677.0 2937
212.105 212.61 0.505 0.01 0.04 0.03 0.07 845.8 4406
212.61 212.89 0.28 0.01 0.13 0.06 0.20 2585.0 7408
212.89 213.89 1.00 0.01 0.02 0.04 0.08 1172.0 4785
213.89 214.235 0.345 0.01 0.01 0.03 0.04 959.3 4186
214.235 214.515 0.28 0.01 0.01 0.02 0.04 904.8 3689
214.515 214.985 0.47 0.01 0.01 0.03 0.05 986.2 3825
214.985 215.955 0.97 0.01 0.03 0.03 0.06 924.8 4309
About Jubilee Platinum
Jubilee Platinum plc is a mining exploration and development company with a
focus on platinum group metal (PGM) and nickel/copper.
Jubilee has developed a prospective portfolio of platinum projects,
strategically placed within South Africa`s Bushveld Complex, a geological system
unmatched worldwide which produces 80% of the World`s platinum.
The Company`s prime asset in South Africa is the Tjate project which has an
inferred resource of some 65m oz of PGMs and gold, and is contiguous to existing
mining operations: Anglo Platinum`s Twickenham and Impala Platinum`s Marula
mines.
Jubilee is also looking to capitalise on the vast untapped mineral wealth of
Madagascar where it is developing three potentially world-class
nickel/copper/PGM assets. Having been operating in Madagascar prior to listing
in 2002, Jubilee Platinum is a forerunner in a country that is proving to be of
increasing interest to the majors. Jubilee is dedicated to sustainable
development and adhering to the highest environmental standards.
For more information please visit; www.jubileeplatinum.com
5 March 2007
Date: 05/03/2008 09:00:01 Produced by the JSE SENS Department.
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