Business
Ambodilafa Update
Ambodilafa Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n Jubilee Platinum PLC\n15 September 2006\n\n\n\n JUBILEE PLATINUM PLC\n ('Jubilee' or 'the Company')\n\n Jubilee mobilises drilling for the Ambodilafa project, Madagascar\n\n\nHighlights\n\n\n• Jubilee has received all regulatory approvals to commence drilling at\nthe Ambodilafa nickel-copper-PGE project in Madagascar\n\n\n\n• Impala Platinum Holdings Limited ('Implats') is satisfied that Jubilee\nmeets Conditions Precedent in the Joint Venture Option Agreement and has\napproved Phase 1 funding\n\n\n\n• Jubilee has started to mobilise equipment to drill the large versatile\ntime domain electromagnetic ('VTEM') anomaly\n\n\n\n• Drilling expected to begin by week commencing 18th September 2006\n\n\n\n\n\nJubilee is pleased to announce that it has received the appropriate regulatory\napprovals to embark on the first phase of exploration drilling on its\nprospective nickel-copper-PGE (platinum group element) VTEM anomaly at the\nAmbodilafa project in Madagascar.\n\n\n\nJubilee's joint venture partner on the Project, Implats, is satisfied that\nJubilee has met all Conditions Precedent and has approved funding to December\n2006 to contribute to phase one of the exploration programme as per the Joint\nVenture Option Agreement announced on 6 April 2006.\n\n\n\nThe drilling contract has been awarded and transport of drill equipment to the\nsite has commenced. Drilling is scheduled to start before 18th September 2006.\n\n\n\nColin Bird CEO said, 'We have been meticulous in obtaining the necessary permits\nand now have all necessary approvals in place to begin our drilling campaign.\nWe will now drill test the large prospective nickel-copper-PGE geophysical\ntarget previously identified using a helicopter-borne VTEM system. We look\nforward to working with our joint venture partner Implats on the development of\nthis exciting project.'\n\n\n\n\n\nAbout Ambodilafa\n\n\n\nJubilee's large 4 kilometres wide by 14 kilometres long Ambodilafa concession is\npart of an extensive mafic-ultramafic system. The property is located some 160\nkilometres southeast of the Madagascan capital Antananarivo.\n\n\n\nPrevious regional reconnaissance drilling by others in the area, in 1969,\nincluded an intersection of 93 metres of disseminated sulphides, containing\npyrrhotite, pentlandite (nickel ore mineral) and chalcopyrite (copper ore\nmineral) av...