| Mon 7 Dec 2009, 12:37 | | JBL / Jubilee Platinum Plc / Sylvania Resources Plc - Joint Announcement |
|
JBL
JUJLP
JBL / Jubilee Platinum Plc / Sylvania Resources Plc - Joint Announcement
JUBILEE PLATINUM PLC
AIM: JLP
JSE: JBL
Registration number 4459850
ISIN: GB0031852162
("Jubilee")
SYLVANIA RESOURCES PLC
ASX:SLV
AIM:SLV
Registration number 091 415 968
ISIN: AU000000SLV8
("Sylvania")
Joint Announcement
Successful smelting trials of Sylvania`s low grade platinum concentrate by
Jubilee Platinum plc (`Jubilee`), SA
Key points
- Successful PGM smelting results through Sylvania/Jubilee strategic alliance
- Previously uneconomic low grade PGM concentrates successfully treated
through Jubilee`s ConRoast DC smelting process
- Concentrate trialled- low PGE grade (85g/t 6E) and a high chrome content
(7%)
- 99% of the PGM`s were recovered
- high chrome content posed no risks to PGM recovery, safety or smelter
performance
- Further trials of low grade concentrates from Sylvania`s Dump Operations
and its recently acquired Platreef surface resources are planned in the
near future
Following the announcement of their strategic alliance, Sylvania and jubilee
today announce successful trial results from the smelting of low grade platinum
group metal (PGM) concentrates at Jubilee`s ConRoast DC furnace at Mintek, South
Africa. The strategic alliance is designed to enable both companies to unlock
previously uneconomic low grade PGM resources by developing new smelting
processes. If comprehensive testing proves positive the proprietary ConRoast DC
smelting process will be fed from PGM tailings dumps and surface resources held
by Sylvania.
The concentrate trialled was produced by Sylvania`s operation outside of any of
Sylvanias contractual obligations. The concentrate had a low PGE grade (85g/t
6E) and a high chrome content (7%). Low PGM grade negatively affects the volume
of concentrate that needs to be treated and high chrome concentrations hinder
the performance and safety of traditional AC furnaces at our off take partners.
Approximately 99% of the PGM`s were recovered. In addition, the high chrome
content posed no risks to PGM recovery, safety or smelter performance thereby
confirming the applicability of Jubilee`s ConRoast DC smelting process to the
treatment of low grade PGM concentrates.
In light of these positive results, and the strategic alliance with Jubilee,
Sylvania has agreed to trail additional low grade concentrates from other dump
operations with Jubilee.
In addition, Sylvania will also trial concentrates produced from the bulk
sampling program that will be conducted at its recently acquired Grass Valley
Platreef resource in the Northern Limb of the Bushveld Igneous Complex.
Commenting on the developments, Terry McConnachie (Managing Director, Sylvania
Resources Limited) said "I`m encouraged by the trials and the developing
strategic alliance with Jubilee. The growing interaction between our two groups
is yielding a range of value creating opportunities which are being further
evaluated. This alliance with Jubilee allows Sylvania to develop a new low cost,
low risk platinum business to sit alongside our successful tailings recovery
operations".
Colin Bird (CEO Jubilee Platinum) said "This further affirms the application of
the ConRoast process to a wide range of concentrates within the Platinum
industry. Once proven on a larger scale, this should accelerate the
transformation of Sylvania into a mid-tier platinum producer"
7 December 2009
For further information please contact:
Sylvania Resources Jubilee Platinum
South Africa Colin Bird
Jubilee Platinum plc
Terence McConnachie Tel +27 (011) 253 3280
Managing Director
Tel +27 11 673 1171 Leon Coetzer
Braemore Resources plc
Louis Carroll Tel +27 (0) 87 754 7608
Finance Director/Joint Company
Secretary Andrew Sarosi
Tel +27 11 673 1171 Jubilee Platinum plc
Tel +44 (0) 1752 221937
United Kingdom
Suzanne Johnson-Walsh
Richard Brown/ Richard Bishopsgate Communications Ltd
Greenfield Tel +44 (0) 20 7562 3350
Ambrian Partners Limited,
Nominated Adviser
Tel +44 20 7634 4700 Brian Christie/Leonard Eiser
Sasfin Capital
Tel +27 (0) 11 809 7500
Laurence Read/Beth Harris
Threadneedle Communications, Matthew Robinson/
Public Relations Adviser Rose Herbert
Tel +44 20 7653 9855 FinnCap
Tel +44 (0) 20 7600 1658
Australasia
Richard Rossiter
Non Executive Chairman
Tel +61 41 868 8338
Grant Button
Director/Joint Company Secretary
Tel +61 8 922 64777
Date: 07/12/2009 12:37:38 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
