Jubilee Metals Regulatory News (JLP)

15 Dec 2005 07:01

Jubilee Platinum PLC15 December 2005 15 December 2005 JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Full results for third step-out borehole DT4 on Tjate Project Borehole DT5 intersects Merensky Reef Jubilee announces the full results for its third step-out borehole DT4 on theDsjate farm ("Tjate Project") in the Bushveld Complex of South Africa. Theborehole was stepped out a significant 860 metres updip from borehole DT1 and460 metres south along strike from borehole DT2. Infill borehole DT5 intersectedthe Merensky reef on 12th December 2005. SCS Lakefield Research Africa in Johannesburg carried out the analyses of theborehole core samples. This laboratory is SNAS TO169 accredited. Highlights • Step out borehole DT4 - fourth hole in succession - intersects the Merensky reef ("MR") and UG2 Chromitite reef ("UG2") at projected depths • Good grades and thicknesses of reefs intersected • MR shows weighted average grade of 6.42 g/t 4E (platinum, palladium, rhodium and gold) and UG2 7.60 g/t 4E; both values include results from two deflections • MR shows significant nickel and copper contributions: 0.28% nickel and 0.14% copper • These results are confirming a mineable resource downdip of existing and developing operations for both Merensky and UG2 reefs • The results support the potential for a stand-alone Merensky mine • Drilling of the fifth borehole DT5 - infill borehole - intersected the Merensky reef at 770 metres Colin Bird, CEO of Jubilee and Tjate and Tjate Project Manager, said "Theseresults further confirm the good PGM and base metal grades on the Dsjate farm.Our confidence in the Tjate resource valuation is increasing and our intentionnow is to focus on establishing an initial Merensky mineable reserve of greaterthan 3 million ounces, as part of the projected 66 million ounces estimatedoverall resource at Tjate, and commence a feasibility study." The full results for borehole DT4 are shown in tables 1 and 2 below: Table 1 DT4 Merensky reef results: Apparent 4E Pt Pd Rh Au Ni Cu Pt:Pd thickness g/t g/t g/t g/t g/t % % ratio cmMotherhole 80 6.18 3.34 2.14 0.16 0.54 0.24 0.16 1.6Deflection1 78 7.65 4.33 2.55 0.20 0.57 0.32 0.20 1.7Deflection 2 80 6.48 3.10 1.96 0.13 0.39 0.22 0.11 1.6Weighted average 79 6.42 3.58 2.21 0.16 0.47 0.26 0.14 1.6 Table 2 DT4 UG2 reef results: Apparent 4E Pt Pd Rh Au Pt:Pd thickness g/t g/t g/t g/t g/t ratio cmMotherhole 0.89 7.28 3.03 3.42 0.72 0.11 0.9Deflection1 0.82 7.24 3.20 3.20 0.75 0.10 1.0Deflection 2 0.83 8.10 3.00 4.27 0.67 0.16 0.7Weighted average 0.85 7.60 3.10 3.66 0.72 0.12 0.8 The Dsjate farm is one of three contiguous farms in the Tjate project, whichcomprise 5,143 hectares in total with an inferred resource of 282 million tonnesand 66 million ounces 5PGE (platinum group elements) plus gold of which 22.8million ounces are attributable to Jubilee. Jubilee has a 25% stake in Tjate, with an earn-in right to a further 10%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: +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