Jubilee Metals Regulatory News (JLP)

19 May 2005 07:00

Jubilee Platinum PLC19 May 2005 AIM: JLP JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Deflection Results and Summary of Total Hole DT1 from Dsjate farm Jubilee and its partners in Tjate Platinum Corporation (Pty) Ltd ("Tjate") todayannounce the full results from the first diamond drill hole DT1 on Tjate's 2,162hectare Dsjate farm 249 KT in the Bushveld Complex of South Africa. Highlights: • Deflection 1 on the Merensky Reef assayed 7.37g/t 3PGE (platinum group elements) plus Au (gold) over an apparent width of 110cm • Deflection 2 on the Merensky Reef assayed 10.95g/t (3PGE +Au) over apparent width of 139cm • The three intersections (motherhole plus deflections) assayed a weighted average grade of 8.91g/t (3PGE+Au) over an apparent width of 116cm with associated 0.33% nickel and 0.16% copper • At today's metal prices the in-situ Merensky Reef is valued at US$235/t rock • The deflection drilled in the UG2 chromitite reef ("UG2") assayed 5.89 g/t (3PGE+Au) over an apparent width of 104cm • The two UG2 intersections (motherhole plus the deflection) assayed a weighted average grade of 6.01 g/t (3PGE+Au) over an apparent width of 93cm • At today's metal prices the in-situ UG2 is valued at US$123/t rock Colin Bird, CEO of Jubilee and CEO and Project Manager of Tjate said "Theseresults are very pleasing in terms of both grade and width, which have more thanmatched our expectations. There appears to be some degree of variability ingrade and width particularly in the Merensky Reef, a feature that may be acharacteristic of the reef in the region. Drilling of our second hole DT2,up-dip of DT1, is well underway and total hole results as above will be reportedas soon as they become available. With further data capture we will commencepre-feasibility studies in the summer." The detailed drill results are shown below: Merensky Reef Apparent 3PGE+Au Pt Pd Rh Au Ni Cu width (cm) g/t g/t g/t g/t g/t % % Motherhole DT1 99 7.78 4.45 2.49 0.22 0.62 0.33 0.19First deflection 110 7.37 4.36 2.30 0.19 0.52 0.24 0.05Second deflection 139 10.95 5.98 3.64 0.28 1.05 0.34 0.25 Weighted average 116 8.91 5.03 2.89 0.23 0.76 0.33 0.16 UG2 Chromitite Reef Apparent 3PGE+Au Pt Pd Rh Au width (cm) g/t g/t g/t g/t g/t Motherhole 96 5.40 2.64 2.10 0.58 0.08Deflection 90 6.66 2.98 2.95 0.63 0.10 Weighted average 0.93 6.01 2.80 2.51 0.60 0.10 The two deflection holes in the Merensky Reef are particularly interesting inthat mineralisation persisted over 3m with overall grades respectively of 4.20g/t and 5.59g/t 3PGE+Au. Mining over such widths, together with reported low reefdips of about 5 to 7 degrees, would potentially form a relatively low costoperation. The Dsjate farm is one of three contiguous farms in the Tjate project, whichcomprises 5,143 hectares in total. Jubilee has a 25% stake in Tjate, together with an earn-in right to a further10% interest by expending ZAR14 million towards a bankable feasibility study. For further information please contact: Colin Bird Cathy Malins /Annabel LeatherJubilee Platinum plc Parkgreen Communications LtdTel: 07768 397 627 Tel +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange