Jubilee Metals Regulatory News (JLP)

4 Jan 2006 07:00

Jubilee Platinum PLC04 January 2006 JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Drilling and Exploration Update from Londokomanana project in Madagascar Jubilee reports significantly higher nickel grades in northern section of Londokomanana Jubilee announces the results of its first borehole ANT1 drilled in theAntsahabe property, in the northern part of the Londokomanana concession ("Londokomanana") in Madagascar. Highlights • Borehole ANT1 intersects 48 metres total (apparent thickness) of multi-layered high-grade nickel-copper sulphide mineralisation close to surface (estimated to be 15 metres below surface) • Bulk mining weighted average grades up to 0.64% nickel and 0.13% copper (total copper equivalent of 2.0%) with in situ gross metal values ("GMVs") (nickel plus copper) from US$70 to U$90/tonne of rock. (Nickel values previously reported in Lavatrafo were between 0.26% to 0.52% ) • Intersections include 5 metres at 1.0% nickel, 1.7 metres and 1.0 metre both at 2.1% nickel with total copper equivalents ranging from 3.3% to 6.2% and GMVs from US$146 to US$278/tonne of rock (at today's prices*) The full results from the drill core from collar to 122 metres below surface areappended and the results of the significant mineralised intercepts are shown inTable 1 below: Table 1 Grade of mineralised intercepts borehole ANT1 From metres To Intercept Copper In-situ GMV US$ /t Metres (apparent) metres Nickel Copper Equivalent % % % 17.2 44.5 27.3 0.64 0.13 2.0 91 54.2 71.8 17.6 0.60 0.12 1.9 85 76.6 80.9 4.3 0.53 0.11 1.6 74 21.5 26.5 5.0 1.05 0.20 3.3 146 33.6 34.6 1.0 2.09 0.14 6.2 278 60.1 61.8 1.7 2.06 0.09 6.1 273 *Prices used: Nickel - US$13,000/t Copper - US$4,500/t Colin Bird, CEO of Jubilee, said: "This is a very pleasing result and the nickelgrades are strong for a bulk mining target. These base metal values comparefavourably with similar projects world-wide. Our objective is now to confirm asignificant strike length in order to establish a resource to support a largebulk mining operation." The Antsahabe property includes some 22 kilometres of geophysical andgeochemical anomalies, which were identified through previous geochemical andgeophysical exploration by Jubilee in the area. The Company undertook testdrilling at Antsahabe in order to confirm the continuity of mineralisation inthe estimated total 35 kilometres of formations at Londokomanana (north andsouth). Jubilee also updates on the drill programme at its Lavatrafo property. TheAntsahabe deposit is part of the northern unit, whilst Lavatrafo lies in thesouthern part. The drilling programme in the Lavatrafo formation included several lithologicalboreholes, the results from which closes the northern end of this formation andhas delineated to date a 360-metre strike length ofcopper-nickel-platinum-palladium mineralisation to the south. Further south, the Company carried out detailed dipole-dipole geophysicsfollowed with more extensive geochemical sampling over potential new formationsin the area, which the Company had identified from earlier trench sampling.These results will be reported as soon as they become available. The Londokomanana concession is held by Jubilee's 85% owned subsidiary MineralResources of Madagascar Sarl, and is located approximately 150 kilometres northof the Madagascan capital Antananarivo. Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, SouthAfrica carried out the analyses of the borehole core samples. Quality assurancein place currently comprises of standards, blanks and check samples making 10%of samples submitted. For further information please contact: Colin Bird Cathy Malins / Annabel LeatherJubilee Platinum plc Parkgreen Communications LtdTel: 07768 397 627 Tel +44 20 7493 3713 Appendix 1 Antsahabe drilling results - Borehole ANT1 Sample From To Interval Nickel Copper no. metres metres metres % % A1401 0.00 2.05 2.05 0.06 0.02 A1402 2.05 4.02 1.97 0.04 0.02 A1403 4.02 4.7 0.68 0.02 0.01 A1404 4.70 5.26 0.56 0.03 0.01 A1405 5.26 6.79 1.53 0.02 0.01 A1406 6.79 7.79 1.00 0.04 0.01 A1407 7.79 8.79 1.00 0.03 0.01 A1408 8.79 9.79 1.00 0.04 0.01 A1409 9.79 10.79 1.00 0.05 0.01 A1411 10.79 11.79 1.00 0.04 0.02 A1412 11.79 12.62 0.83 0.04 0.01 A1413 12.62 13.32 0.70 0.05 0.00 A1414 13.32 13.79 0.47 0.05 0.02 A1415 13.79 14.96 1.17 0.13 0.03 A1416 14.96 15.69 0.73 0.14 0.03 A1417 15.69 16.65 0.96 0.14 0.04 A1418 16.65 17.18 0.53 0.08 0.03 A1419 17.18 17.88 0.70 0.34 0.06 A1421 17.88 18.62 0.74 0.14 0.03 A1422 18.62 19.51 0.89 0.32 0.07 A1423 19.51 20.86 1.35 0.04 0.01 A1424 20.86 21.47 0.61 0.69 0.12 A1425 21.47 22.47 1.00 1.00 0.18 A1426 22.47 23.47 1.00 1.00 0.22 A1427 23.47 24.47 1.00 1.01 0.19 A1428 24.47 25.47 1.00 1.10 0.25 A1429 25.47 26.47 1.00 1.15 0.23 A1431 26.47 27.47 1.00 0.70 0.18 A1432 27.47 28.47 1.00 0.28 0.05 A1433 28.47 29.47 1.00 0.47 0.03 A1434 29.47 30.47 1.00 0.46 0.14 A1435 30.47 31.47 1.00 1.29 0.09 A1436 31.47 32.47 1.00 0.82 0.09 A1437 32.47 33.58 1.11 0.87 0.32 A1438 33.58 34.58 1.00 2.09 0.14 A1439 34.58 35.58 1.00 0.77 0.18 A1441 35.58 36.58 1.00 0.07 0.13 A1442 36.58 37.55 0.97 0.52 0.00 A1443 37.55 38.39 0.84 0.42 0.01 A1444 38.39 38.62 0.23 0.99 0.09 A1445 38.62 39.62 1.00 0.32 0.15 A1446 39.62 40.76 1.14 0.22 0.37 A1447 40.76 41.36 0.60 1.30 0.05 A1448 41.36 42.2 0.84 0.31 0.03 A1449 42.20 43.02 0.82 0.09 0.20 A1451 43.02 43.52 0.50 0.08 0.01 A1452 43.52 44.52 1.00 0.52 0.00 A1453 44.52 45.52 1.00 0.07 0.01 A1454 45.52 46.52 1.00 0.07 0.09 A1455 46.52 47.52 1.00 0.05 0.02 A1456 47.52 48.55 1.03 0.05 0.02 A1457 48.55 48.76 0.21 0.03 0.01 A1458 48.76 49.7 0.94 0.13 0.01 A1459 49.70 50.53 0.83 0.33 0.01 A1461 50.53 51.43 0.90 0.05 0.09 A1462 51.43 52.18 0.75 0.04 0.00 A1463 52.18 52.82 0.64 0.04 0.01 A1464 52.82 53.11 0.29 0.03 0.01 A1465 53.11 54.33 1.22 0.06 0.01 A1466 54.33 54.81 0.48 0.04 0.01 A1467 54.81 56.14 1.33 0.15 0.01 A1468 56.14 56.41 0.27 0.07 0.01 A1469 56.41 56.88 0.47 0.13 0.03 A1471 56.88 57.69 0.81 0.10 0.03 A1472 57.69 58.25 0.56 0.27 0.00 A1473 58.25 58.83 0.58 0.43 0.03 A1474 58.83 60.12 1.29 0.36 0.05 A1475 60.12 61 0.88 2.13 0.11 A1476 61.00 61.78 0.78 2.00 0.06 A1477 61.78 62 0.22 0.27 0.60 A1478 62.00 62.38 0.38 0.64 0.72 A1479 62.38 63.19 0.81 0.57 0.09 A1481 63.19 63.92 0.73 0.73 0.10 A1482 63.92 64.46 0.54 0.68 0.00 A1483 64.46 65.43 0.97 0.93 0.18 A1484 65.43 66.61 1.18 0.39 0.13 A1485 66.61 67.66 1.05 0.08 0.23 A1486 67.66 68.09 0.43 1.26 0.12 A1487 68.09 68.56 0.47 0.11 0.02 A1488 68.56 69.98 1.42 0.51 0.29 A1489 69.98 70.29 0.31 0.10 0.03 A1491 70.29 70.83 0.54 1.47 0.30 A1492 70.83 71.78 0.95 0.33 0.07 A1493 71.78 72.78 1.00 0.05 0.01 A1494 72.78 73.78 1.00 0.04 0.01 A1495 73.78 74.61 0.83 0.04 0.01 A1496 74.61 75.61 1.00 0.03 0.01 A1497 75.61 76.61 1.00 0.06 0.01 A1498 76.61 77.23 0.62 0.18 0.05 A1499 77.23 78.23 1.00 0.31 0.07 A1501 78.23 79.14 0.91 0.81 0.14 A1502 79.14 80.37 1.23 0.27 0.06 A1503 80.37 80.91 0.54 1.43 0.32 A1504 80.91 82.06 1.15 0.09 0.02 A1505 82.06 83.3 1.24 0.06 0.01 A1506 83.30 84.52 1.22 0.61 0.15 A1507 84.52 85.52 1.00 0.17 0.04 A1508 85.52 86.52 1.00 0.07 0.02 A1509 86.52 87.55 1.03 0.06 0.01 A1511 87.55 88.53 0.98 0.28 0.07 A1512 88.53 89.53 1.00 0.09 0.02 A1513 89.53 90.53 1.00 0.07 0.01 A1514 90.53 91.45 0.92 0.08 0.02 A1515 91.45 92.45 1.00 0.19 0.05 A1516 92.45 93.45 1.00 0.12 0.03 A1517 93.45 94.45 1.00 0.17 0.04 A1518 94.45 95.45 1.00 0.21 0.05 A1519 95.45 96.45 1.00 0.13 0.03 A1521 96.45 97.45 1.00 0.10 0.02 A1522 97.45 98.45 1.00 0.24 0.06 A1523 98.45 99.45 1.00 0.11 0.03 A1524 99.45 100.45 1.00 0.11 0.03 A1525 100.45 101.45 1.00 0.08 0.02 A1526 101.45 102.45 1.00 0.07 0.02 A1527 102.45 103.45 1.00 0.08 0.02 A1528 103.45 104.45 1.00 0.08 0.02 A1529 104.45 105.45 1.00 0.08 0.02 A1531 105.45 106.45 1.00 0.07 0.02 A1532 106.45 107.45 1.00 0.08 0.02 A1533 107.45 108.45 1.00 0.08 0.02 A1534 108.45 109.61 1.16 0.08 0.02 A1535 109.61 110.61 1.00 0.07 0.02 A1536 110.61 111.98 1.37 0.03 0.01 A1537 111.98 112.98 1.00 0.04 0.01 A1538 112.98 113.98 1.00 0.03 0.01 A1539 113.98 115.74 1.76 0.02 0.00 A1541 115.74 116.16 0.42 0.02 0.00 A1542 116.16 117.55 1.39 0.03 0.01 A1543 117.55 118.56 1.01 0.02 0.00 A1544 118.56 118.93 0.37 0.02 0.00 A1545 118.93 119.8 0.87 0.03 0.01 A1546 119.80 120.71 0.91 0.04 0.01 A1547 120.71 122.34 1.63 0.04 0.01 This information is provided by RNS The company news service from the London Stock Exchange