Jubilee Metals Regulatory News (JLP)

19 Jul 2005 10:40

Jubilee Platinum PLC19 July 2005 19 July 2005 AIM: JLP JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Step-out Drilling (Two Holes) on Tjate Project Confirms Merensky and UG2 Reefs at Projected Horizons Jubilee announces results for its step-out holes DT2 (overall reefs' grade andthickness) and DT3 (Merensky reef thickness only) on the Dsjate farm ("TjateProject") in the Bushveld Complex of South Africa. Highlights • Step out drilling (up to 650 metres on plan) intersected at projectedhorizons the Merensky reef ("MR") and UG2 chromitite reef ("UG2") for hole DT2and the MR for hole DT3 • UG2 in hole DT2 included one high grade intersection of 9.23 g/t 4E(platinum, palladium rhodium and gold)and showed an overall grade including twodeflections of 8.01 g/t 4E over an average 96 centimetre thickness • Current hole DT3 intersected the MR at 916 metres which was targetdepth with a wide 1.8 metre mineralised reef. Drilling continues to intersectthe UG2 The detailed drill results for hole DT2 are shown below: Merensky Reef (intersected 722 metres) Apparent 4E Pt Pd Rh Au Ni Cu Pt:Pd thickness g/t g/t g/t g/t g/t % % ratio cm Motherhole 62 3.44 2.19 0.89 0.13 0.23 0.22 0.11Deflection 1 60 1.52 1.00 0.34 0.03 0.16 0.11 0.07Deflection 2 60 6.53 3.80 2.16 0.17 0.40 0.34 0.16 Weighted average 61 3.83 2.33 1.13 0.11 0.26 0.22 0.11 2.1 UG2 Chromitite Reef (intersected 1109 metres) Apparent 4E Pt Pd Rh Au Pt:Pd thickness g/t g/t g/t g/t g/t ratio cm Motherhole 96 7.35 3.29 3.24 0.67 0.14Deflection 1 92 6.66 3.43 3.15 0.73 0.13Deflection 2 97 9.23 3.54 4.82 0.71 0.16 Weighted average 95 8.01 3.42 3.75 0.70 0.14 0.91 Colin Bird, CEO of Jubilee and Tjate and Tjate Project Manager, said "Theseresults are very pleasing since they represent significant step-outs from thelocation of our first hole. They also confirm the size and mineralisation ofthe deposit down dip and along strike and again have more than matched ourexpectations. Our third hole DT3, intersected the Merensky reef horizon attargeted depth and with projected thickness. We anticipate good grades from thishole and are still on target to commence pre-feasibility studies during thesummer and early autumn." The Dsjate farm is one of three contiguous farms in the Tjate project, whichcomprises 5,143 hectares in total. Jubilee has a 25% stake in Tjate, together with an earn-in right to a further10% interest by expending ZAR14 million towards a bankable feasibility study. For further information please contact: Colin Bird Cathy Malins / Annabel LeatherJubilee Platinum plc Parkgreen Communications LtdTel: 07768 397 627 Tel +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange