Drilling Update at Tjate

11 Oct 2007 07:30

Jubilee Platinum PLC11 October 2007 11 October 2007 AIM: JLPJSE: JBL JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Exceptional PGM Values (Plus 10g/t) and Reef Thickness Intersected at Tjate Highlights • Borehole DT9 results (motherhole) showed 10.98 g/t 4E (platinum,palladium, rhodium and gold), 0.33% nickel (Ni) and 0.23% copper (Cu) overapparent 2.21 metres thickness and in the footwall (FW) 9.12 g/t 4E, 0.28% Niand 0.16% Cu over 2.15 metres • First deflection showed 6.75g/t 4E, 0.30% Ni and 0.15% Cu over 2.48metres in MR and 11.05g/t 4E, 0.38% Ni and 15% Cu over 1.80 metres in thefootwall • Total MR only (with 3 deflections) showed weighted average 6.30 g/t4E, 0.24% Ni and 0.14% Cu over 2.01 metres • Total MR plus footwall showed weighted average 8.11g/t 4E, 0.29% Niand 0.17% Cu over 2.91 metres • Merensky reef intersected at a depth of 822 metres and UG2 reef at1211 metres • UG2 (including 2 deflections) results showed weighted average 5.96 g/t4E over 0.94 metres Jubilee Platinum announces exceptional results for its borehole DT9 on theDsjate farm area of the Tjate Project in the Bushveld Complex of South Africa.This borehole was stepped out some 500 meters along strike to the north of themost northerly line of previously drilled boreholes. This development extendssignificantly the area of mineralisation for resource estimation. Detailed results for this borehole are shown in Table 1 appended. Colin Bird, CEO of Jubilee and Tjate Project Manager, said: "These areexceptional Merensky reef results both in terms of grade and reef thickness. TheTjate deposit is demonstrating consistency, reliability and high grade, whichgives us the confidence to embark on our bankable feasibility study." Table 1 DT9 results for Merensky Reef (MR), Footwall (FW) and UG2 reef intersections Apparent 4E Pt Pd Rh Au Ni Cu Pt:Pd thickness g/t g/t g/t g/t g/t % % ratio (m)MerenskyMotherhole MR 2.21 10.98 6.11 3.67 0.27 0.92 0.37 0.13 1.7Motherhole FW 2.15 9.12 5.04 3.08 0.20 0.79 0.28 0.16 1.8Total motherhole 4.36 10.06 5.59 3.38 0.24 0.86 0.33 0.20 1.7 Deflection 1 MR 2.48 6.75 3.50 2.51 0.22 0.52 0.30 0.15 1.4Deflection 1 FW 1.80 11.05 5.70 3.99 0.20 1.17 0,38 0.20 1.4Total deflection 1 4.28 8.56 4.43 3.13 0.21 0.79 0.34 0.17 1.4 Deflection 2 MR 1.00 4.09 2.57 1.18 0.10 0.25 0.17 0.09 2.2Deflection 3 MR 2.00 4.89 2.90 1.40 0.12 0.47 0.13 0.19 2.1Wtd. ave. MR 2.01 6.30 3.49 2.12 0.16 0.52 0.24 0.14 1.7Wtd. ave. MR+FW 2.91 8.11 4.44 2.76 0.17 0.72 0.29 0.17 1.6 UG2Motherhole 1.05 5.30 2.38 2,31 0.53 0.08 na na 1.0Deflection 1 0.80 6.43 2.94 2.75 0.63 0.11 na na 1.1Deflection 2 0.96 6.29 2.73 2.83 0.62 0.10 na na 1.0Wtd. ave. 0.94 5.96 2.66 2.61 0.59 010 na na 1.0 na not applicable Note to Editors The Tjate project comprises three contiguous farms, totalling 5,143 hectares inthe eastern Bushveld: namely Dsjate, Fernkloof and Quartz Hill. The farms aredowndip of Impala Platinum's operating Marula platinum mine and of AngloPlatinum's developing Twickenham platinum mine. Jubilee has recently completed apostive scoping study based on the first phase drilling of seven boreholes onthe Dsjate farm. All the holes, as previously reported, intersected at targeteddepths the Merensky reef and, where drilled deeper, the UG2 reef. These tworeefs are the two main PGM-bearing horizons in the Bushveld. 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 Louise Goodeve / Justine HowarthJubilee Platinum plc Parkgreen Communications LtdTel: +44 (0) 20 7584 2155 Tel +44 (0) 20 7851 7480 This information is provided by RNS The company news service from the London Stock Exchange