Jubilee Metals Regulatory News (JLP)

8 Dec 2005 07:01

Jubilee Platinum PLC08 December 2005 8 December 2005 Jubilee Platinum Plc ("Jubilee" or "the Company") Airborne VTEM Geophysics Survey Identifies a Significant Anomaly over Ambodilafa in Madagascar Jubilee is pleased to announce the completion of the large-scale helicopterVersatile Time-Domain Electromagnetics ("VTEM") Airborne survey, commissionedand funded by BHP Billiton, over the Company's Mananjary Block on its Ambodilafaconcession in Madagascar and the issuance of an independent preliminaryinterpretive report. This event is the first milestone pursuant to acollaborative agreement with BHP Billiton dated 27 October 2005. Highlights: • An airborne geophysical survey, covering 195.3 line kilometres, has been completed over the Mananjary block on Jubilee's Ambodilafa concession • The independent report has identified within the block a strong anomaly "consisting of a flat lying circular feature "with an estimated thickness of up to 40 metres • The independent report highlights that "work to date has indicated a worthy target for drill testing" and recommends completion of interpretation prior to drill testing Colin Bird, chief executive officer of Jubilee, said: "We are pleased to haveachieved such a positive and exciting anomaly result from the survey. We willcontinue aggressively with further interpretation of the results to definetargets for drill testing as soon as possible." Jubilee's Ambodilafa concession forms a large 190km(2) property, which is partof an extensive ultrabasic system. The property is located some 160 kilometressoutheast of the Madagascan capital Antananarivo. The report notes that the particularly strong responses obtained in the surveyare derived from flat lying targets. The VTEM method is state-of-the-art and isacknowledged as being an excellent prospecting tool for identifying anomaliesrelated to massive sulphides. For further information please contact: Colin Bird Cathy Malins / Annabel LeatherJubilee Platinum plc Parkgreen Communications LtdTel +44 (0) 20 7584 2155 Tel +44 (0) 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange