Sign In
Last checked at 
6 Feb 2009 14:30
ο»Ώ
AIM: JLP
JSE: JBL
Registration number:Β 4459850
ISIN: GB0031852162
JUBILEE PLATINUM PLC
("Jubilee" or "the Company")
Jubilee Identifies Significant Gold-in Soil AnomaliesΒ
on Ambodilafa Project inΒ Madagascar
Jubilee Platinum, the AIM quoted and JSE listed mining exploration and developmentΒ company with a focus onΒ nickel/copper and platinum group metalsΒ (PGM)Β in Madagascar, is pleased to announce a significant cluster of highly elevated gold-in-soil anomalies recently discovered during a programme of regional ridge-and-spur soil sampling for base metals and platinum group elementsΒ (PGE)Β undertaken on the Ambodilafa project in Madagascar.Β
HighlightsΒ
Anomalous gold values recorded of up toΒ 6.07g/t Au with 0.045g/t 2EΒ (platinum palladium)Β
This anomaly, although exploration is not yet complete, appearsΒ open endedΒ
Selected results are summarised in the table below
|
Sample |
Easting |
Northing |
AuΒ g/t |
2E (Pt Pd) g/t |
|
Alfc00755-S |
206764 |
7742279 |
1.31 |
0.035 |
|
Alfc00756-S |
206831 |
7742279 |
6.07 |
0.045 |
|
Alfc00757-S |
206881 |
7742276 |
0.74 |
0.01 |
|
Alfc00758-S |
206928 |
7742293 |
0.55 |
0.035 |
|
Alfc00759-S |
206977 |
7742297 |
0.42 |
0.01 |
|
Alfc00761-S |
206840 |
7742109 |
2.87 |
0.065 |
|
Alfc00762-S |
206888 |
7742092 |
0.76 |
0.01 |
|
Alfc00763-S |
206936 |
7742076 |
5.80 |
0.1 |
|
Alfc00764-S |
206981 |
7742053 |
0.03 |
0.01 |
|
Alfc00766-S |
207049 |
7741990 |
1.83 |
0.01 |
|
Alfc00767-S |
207078 |
7741949 |
0.06 |
0.01 |
|
Alfc00768-S |
207107 |
7741905 |
0.94 |
0.09 |
|
Alfc00770-S |
207145 |
7741813 |
1.21 |
0.035 |
|
Alfc00771-S |
207334 |
7741570 |
1.34 |
0.035 |
This anomalous gold discovery occurs in a 500m by 200m area in the eastern section of the centre of the 17Β km x 4 km Vohipaha ultramafic/mafic intrusive. This anomaly, whichΒ appears to beΒ open ended and as yet untested, is a prime target for further investigation. At this early stage the anomaly appears to correlate with slightly elevated 2E (platinum and palladium) values identified in the vicinity.Β Further exploration will confirm this.
Colin Bird, CEO of JubileeΒ said: "TheΒ Company carried out geochemical sampling in the Bebasy gold area in the south west of the mafic/ultramafic intrusive with modest results. The results nowΒ reported are from a different area to the east of the intrusive and forms part of a general evaluation of areas within the largely untested intrusive. The gold anomalies are very encouraging and the platinum-in-soil anomalies identified in the vicinity are significant. We intend to pursue this new discovery this year."
SGS Lakefield Research Africa inΒ JohannesburgΒ carried out the analyses of the samples. This laboratory is SNAS TO169 accredited.
About Ambodilafa
The Ambodilafa project lies within the extensive Vohipaha ultramafic-mafic intrusive, itself some 4 kilometres wide by 17 kilometres long. The Ambodilafa licence of property is located 160 kilometres southeast of the Madagascan capitalΒ Antananarivo. The 10-year exploration licence is held by Mineral Resources of Madagascar Sarl, 100% owned by Jubilee. Impala Platinum Holdings Ltd has an option agreement with Jubilee to earn in a 51% interest in the project.Β
For further information please contact:
Colin Bird Nick Rome/Michael Kinirons
Jubilee Platinum plc Bishopsgate Communications LtdΒ
Tel: +44 (0) 20 7584 2155 Tel +44 (0) 20 7562 3350
Jan Bosch/Paul Brett
Investec Bank UK Limited
Tel +44 (0)20 7597 5000
Follow the stocks
