Jubilee Metals Regulatory News (JLP)

22 Nov 2007 07:01

Jubilee Platinum PLC22 November 2007 November 2007 AIM: JLPJSE: JBL JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Madagascar - Drilling Update at Londokomanana Project Second Borehole Confirms New Nickel Mineralisation with PGE Credits In Northern Londokomanana Highlights: • A second borehole, drilled 400metres to the north of the previouslyannounced new nickel discovery in the Mavoandro ultramafic formation, intersectsvery wide widths of disseminated nickel-bearing sulphide mineralisation withplatinum group element (PGE) mineralisation in association. • Borehole MAV004 intersects 136 metres of wide intervals ofdisseminated sulphide mineralisation ranging from 3m to 84m widths with weightedaverage nickel values in the range 0.22% to 0.26% and peak values of up to 0.35%Ni over 1m widths. PGE credits are up to 0.16g/t. • Thick widths and shallow mineralisation fits with bulk mining targetkey criteria Borehole MAV004 - Selected results Intersection From To Interval Ni metres metres metres % 62 146 84 0.22 Including 63 101 28 0.24 64 65 1 0.32 64 67 3 0.26 82.3 83.1 0.8 0.35 102 120 18 0.23 147 169 22 0.24 Including 158 159 1 0.36 173 178 5 0.21 183 189 6 0.23 191 198 7 0.23 Including 196.3 197 0.7 0.32 Borehole MAV004, as with previous borehole MAV002, targeted coincidentelectromagnetic conductivity and geochemical copper anomalies. The lithologiesintersected generally comprise sequences of medium grained olivine pyroxenite,pyroxenite, olivine gabbro and peridotite, within which occur disseminatedsulphides.The Mavoandro ultramafic formation lies some 8 kilometres north along strike ofthe mineralised ultramafic formations at Antsahabe, where previous drilling byJubilee intersected two wide zones of 48 metres and 32 metres width respectivelywith excellent sulphide mineralisation Colin Bird, CEO of Jubilee commented, "This second intersection of nickelmineralisation, in the newly discovered area at Mavoandro that was announced 14November, is extremely encouraging. We now have a defined marker to targetfurther drilling moving towards infill drilling. 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 upbetween 10% and 20% of samples submitted. Note to Editors The Londokomanana project is a joint venture company with TransAsia MineralsLimited, who own 51% of the company in return for an expenditure of US$7million. For further information please contact: Colin Bird Louise Goodeve /Justine HowarthJubilee Platinum plc Parkgreen Communications LtdTel: 07768 397 627 Tel + 44 20 7851 7480 Jan Bosch / Paul BrettInvestec Bank (UK) LimitedTel+ 44 (0) 20 7597 5000 This information is provided by RNS The company news service from the London Stock Exchange