Jubilee Metals Regulatory News (JLP)

23 May 2006 07:02

Jubilee Platinum PLC23 May 2006 JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Borehole DT6 Intersects High-Grade Merensky Reef on the Tjate Project Jubilee announces excellent results for its borehole DT6 on the Dsjate farm ("Tjate Project") in the Bushveld Complex of South Africa. The borehole wassignificantly stepped out along strike some 500m south of previous borehole DT5and approximately midway 500 metres up and downdip of boreholes DT3 and DT2respectively. Drilling has commenced on Borehole DT7 which is positioned andstepped out updip of the most westerly boreholes DT2 and DT4. Highlights • The borehole intersected Merensky reef at the depth of 812m with higher than average platinum group metal plus gold grade over higher than average reef thickness • The reef showed a weighted average (motherhole plus two deflections) grade of 11.24g/t 4E (platinum, palladium, rhodium and gold) over 1.3m reef thickness • The motherhole showed a maximum grade of 13.32g/t 4E over a 1.0m reef thickness • Continuity of reef dip and extension of reef horizon confirmed • Valuable average nickel and copper values of 0.39% nickel and 0.24% copper • Scoping study near completion The results for borehole DT6, which intersected the Merensky reef at 812m, areshown in table 1 below: Table 1 DT6 Results for Merensky Reef Intercepts Apparent 4E Pt Pd Rh Au Ni Cu Pt:Pd thickness g/t g/t g/t g/t g/t % % ratio (cm)Motherhole 100 13.32 7.72 4.30 0.34 0.95 0.47 0.35 1.8Deflection1 183 11.47 6.27 3.78 0.27 1.15 0.40 0.35 1.7Deflection 2 120 9.15 5.20 2.82 0.19 0.95 0.30 0.17 1.8Weighted average 134 11.24 6.31 3.62 0.27 1.04 0.39 0.24 1.7 Colin Bird, CEO of Jubilee and Tjate Project Manager, said: "These latestresults confirm reef dip and the grades are excellent. We are pleased with ourability now to predict Merensky reef extension and continuity with confidenceand have commenced drilling our seventh borehole stepped out to the east. Workcontinues apace and our scoping study is near completion." The Dsjate farm is one of three contiguous farms in the Tjate project, whichcomprises a total 5,143 hectares with an inferred resource of 282 milliontonnes containing 66 million ounces 5 PGE (platinum group elements: platinum,palladium, rhodium, iridium and ruthenium) and gold, of which 22.8 millionounces are attributable to Jubilee. Jubilee has a 25% stake in Tjate, with and is currently earring in a further 10%interest by expending ZAR14 million towards a bankable feasibility study. SGS Lakefield Research Africa in Johannesburg carried out the analyses of theborehole core samples. This laboratory is SNAS TO169 accredited. For further information please contact: Colin Bird Justine Howarth / 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