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JBL
JUJLP
JBL - Jubilee - Madagascar - Lavatrafo Project Drilling Update
Jubilee Platinum Plc
(Incorporated in England and Wales)
(Registration number4459850)
Share code on JSE: JBL & ISIN: GB0031852162
Share code on AIM: JLP
("Jubilee" or "the Company")
5th February 2007
Madagascar - Lavatrafo Project Drilling Update
Nickel-Copper-PGM mineralisation intersected on Ranomena
Jubilee announces very pleasing results from its first borehole RAN1 drilled in
the Ranomena ultramafic intrusion, which intersected some 49 metres of
continuous sulphide mineralisation. This intrusion occurs some 3.4 kilometres
south of its main Lavatrafo ultramafic intrusion, which lies within the southern
Lavatrafo licence area in Londokomanana. This licence is held by Mineral
Resources of Madagascar Sarl, Jubilee`s 85% owned operating subsidiary, and is
located approximately 150km north of the Madagascan capital Antananarivo.
A second borehole RAN2, some 400 metres north of and along strike of RAN1, has
been drilled and results are expected later this month.
Highlights:
- 49m continuous platinum group metals ("PGM"), nickel ("Ni") and copper
("Cu") sulphide mineralisation intersected from 119m down hole (84m
vertical depth from surface)
- The intersection includes:
- 3.7m grading 1.10g/t platinum, palladium and gold ("3E"), 0.56% Ni and
0.13% Cu (gross metal value ("GMV") of $114/t rock at current
prices)*; and
- 9m of 0.89g/t 3E, 0.49% Ni, and 0.16%Cu (GMV: $198/t)
- Total 49m (119m to 168m) assaying 0.43g/t 3E, 0.28% Ni and 0.08% Cu
(GMV:$111/t)
- Average platinum to palladium ratio 0.7 to 1
*Prices US$/oz: Pt 1100; Pd 300; gold 600. US$/t: Ni 35000; Cu
5000
The results are summarised in the table below, with detailed results shown in
the table as appended.
Mineralised From To Total 3E Ni Cu GMV**
Intersection m* m* m* g/t % % $/t
rock
Total 119 168 49 0.43 0.08
0.28 111
including 123 145 22 0.62 0.35 0.10 141
including 129 138 9 0.89 0.49 0.16 198
including 135 138 3.7 1.10 0.56 0.13 226
* Apparent thickness **GMV = gross metal value
3E = platinum palladium & gold *Prices US$/oz: Pt 1100; Pd 300; gold 600.
US$/t: Ni 35000; Cu 5000
Colin Bird, CEO of Jubilee commented, "We are very pleased with these excellent
results from this first borehole as we believe that they could be indicative of
a major extension to the mineralisation we have already seen in Lavatrafo. We
have now identified mineralisation occurring over some 12km of strike within the
project area, meaning that there is the potential for a large resource."
Ranomena Ultramafic Formation
As previously announced (21 September 2006) four trenches in Ranomena were
recovered and sampled and reported high PGMs and Ni mineralisation values across
lengths of up to 60m. Of particular interest was Trench C3 which included a run
of 8m @ 0.92g/t 3E and 0.36% Ni and two 1m intervals assaying 1.38 g/t 3E and
1.68 g/t 3E.
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 Cathy Malins / Annabel Leather
Jubilee Platinum plc Parkgreen Communications Ltd
Tel: 07768 397 627 Tel +44 20 7851 7480
Appendix 1
Borehole RAN1 - Detailed results from the 49-m mineralised intersection
Sample ID From To Interval Au Pt Pd Cu Ni Co Cr2O3
m m m ppm ppm ppm ppm ppm ppm ppm
M6899 118.70 119.70 1 <0.01 0.05 0.06 399 1950 85 8782
M6900 119.70 120.70 1 <0.01 0.07 0.09 295 1613 65 8720
C0102 120.70 121.90 1.2 0.04 0.06 0.05 190 944 44 9760
C0103 121.90 123.15 1.25 <0.01 0.07 0.16 438 2211 99 10261
C0104 123.15 124.15 1 <0.01 0.23 0.23 331 2019 80 18748
C0105 124.15 125.15 1 <0.01 0.22 0.34 546 2998 105 18536
C0106 125.15 126.15 1 0.01 0.11 0.18 482 2057 75 9073
C0107 126.15 127.15 1 0.03 0.16 0.38 974 3467 115 9833
C0108 127.15 128.20 1.05 0.01 0.04 0.06 243 1366 56 37110
C0109 128.20 129.30 1.1 0.02 0.11 0.15 527 1927 69 61406
C0110 129.30 130.55 1.25 0.12 0.43 0.71 3633 6369 180 15260
C0112 130.55 131.55 1 0.03 0.22 0.31 1021 3705 102 29675
C0113 131.55 132.55 1 0.03 0.21 0.31 960 3490 95 34959
C0114 132.55 133.50 0.95 0.02 0.30 0.40 1194 3949 101 93593
C0115 133.50 134.60 1.1 0.04 0.18 0.34 1710 4066 105 40936
C0116 134.60 135.30 0.7 0.02 0.17 0.87 1828 9536 241 31838
C0117 135.30 136.30 1 0.03 0.61 0.52 972 5013 144 13726
C0118 136.30 137.30 1 0.05 0.43 0.63 1317 4464 103 48535
C0119 137.30 138.30 1 0.04 0.50 0.50 1118 4670 100 19848
C0120 138.30 139.30 1 0.02 0.20 0.35 995 4094 96 24612
C0122 139.30 140.30 1 0.01 0.07 0.08 333 1326 37 7248
C0123 140.30 141.80 1.5 0.02 0.12 0.13 423 1790 46 53585
C0124 141.80 142.75 0.95 0.08 0.40 0.48 644 2456 66 13267
C0125 142.75 143.80 1.05 0.03 0.15 0.22 1532 4132 109 28560
C0126 143.80 144.72 0.92 0.04 0.17 0.31 764 3183 92 7460
C0127 144.72 145.72 1 0.02 0.10 0.12 307 1303 46 7709
C0128 145.72 146.72 1 0.02 0.10 0.17 764 2589 79 9372
C0129 146.72 147.70 0.98 0.06 0.15 0.31 1378 4212 120 6652
C0130 147.70 148.70 1 0.02 0.09 0.13 374 1810 52 19341
C0132 148.70 149.70 1 0.03 0.17 0.26 906 4051 109 9599
C0133 149.70 150.70 1 0.06 0.12 0.17 1439 2414 72 10132
C0134 150.70 151.90 1.2 0.04 0.15 0.21 522 2223 64 10691
C0135 151.90 152.95 1.05 0.02 0.18 0.20 495 2103 61 11155
C0136 152.95 153.88 0.93 0.49 0.16 0.26 1282 3538 97 8792
C0137 153.88 154.95 1.07 0.03 0.08 0.17 539 2161 65 7301
C0138 154.95 155.95 1 0.02 0.15 0.16 357 1444 50 29816
C0139 155.95 156.95 1 0.04 0.03 0.05 643 2346 76 7080
C0140 156.95 158.00 1.05 0.01 0.04 0.06 295 1384 41 23499
C0142 158.00 158.75 0.75 <0.01 0.01 0.02 58 1369 72 26860
C0143 158.75 159.75 1 0.02 0.03 0.06 290 1170 47 6692
C0144 159.75 160.75 1 0.02 0.07 0.09 447 1720 61 7300
C0145 160.75 161.75 1 0.04 0.13 0.19 1455 3959 135 4888
C0146 161.75 162.90 1.15 0.04 0.13 0.28 1802 5334 182 6706
C0147 162.90 164.10 1.2 0.03 0.09 0.14 733 2510 95 6411
C0148 164.10 164.90 0.8 0.01 0.03 0.06 235 970 40 8126
C0149 164.90 165.70 0.8 <0.01 0.03 0.04 123 576 27 7938
C0150 165.70 166.70 1 0.02 0.13 0.21 600 2581 92 58208
C0152 166.70 167.70 1 0.01 0.06 0.09 403 1624 68 6310
Date: 05/02/2007 11:30:02 Produced by the JSE SENS Department.
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