Jubilee Metals Regulatory News (JLP)

5 Mar 2008 07:00

Jubilee Platinum PLC05 March 2008 5 March 2007 AIM: JLPJSE: JBL JUBILEE PLATINUM PLC ("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 prospectin 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 fromborehole ANT009 (announced 3rd October 2007), we are very pleased with theexcellent nickel results for this borehole ANT014, which lies 1.13 kilometresnorthwest of ANT009, so giving a potential strike of mineralisation in excess of1 kilometre and it remains open ended. During the latter part of the currentrainy season we are modelling all of our Londokomanana data with a view tomoving aggressively towards lifting the status of the project drilling fromexploration to infill." Borehole ANT014 Location: 8070186N 737121STotal Depth: 300.10mAzimuth: 240degrees, dip -50degrees Borehole ANT014 was collared towards the north-eastern margin of the Antsahabeultramafic-mafic intrusion, and is stepped out some 160 metres north of boreholeANT001 (as previously announced 4 January 2006 - 0.64% Ni over 27.3 metres at 15metres depth (down-hole) and 0.60%Ni over 17.3 metres at 54 metres) and some 100metres to the north east of a line of strike running northwest - southeastthrough boreholes ANT001 and ANT009. The mineralisation is hosted in medium- to coarse-grained pyroxenite and occursas 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 theAntsahabe ultramafic-mafic body. Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, SouthAfrica, carried out analyses of the samples. Quality control and assurance inplace currently comprises of standards, blanks and check samples making between10% 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$7million. For further information please contact: Colin Bird Louise Goodeve/ Justine Howarth Jan Bosch / Paul Brett Investec Bank (UK) LimitedJubilee Platinum plc Parkgreen Communications Ltd Tel + 44 (0) 20 7597 5000Tel: + 44 (0) 7768 397 627 Tel + 44 (0) 20 7851 7480 Table 2 Borehole ANT014 - Detailed results of the two zones of mineralisedintersections 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 afocus 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 systemunmatched worldwide which produces 80% of the World's platinum. The Company's prime asset in South Africa is the Tjate project which has aninferred resource of some 65m oz of PGMs and gold, and is contiguous to existingmining operations: Anglo Platinum's Twickenham and Impala Platinum's Marulamines. Jubilee is also looking to capitalise on the vast untapped mineral wealth ofMadagascar 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 ofincreasing interest to the majors. Jubilee is dedicated to sustainabledevelopment and adhering to the highest environmental standards. For more information please visit; www.jubileeplatinum.com This information is provided by RNS The company news service from the London Stock Exchange