Business
Completion of Drilling Progra
Completion of Drilling Progra.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 4995N Jubilee Platinum PLC 18 February 2009 \n \n\n18 February 2009 \nAIM: JLP\nJSE: JBL\nRegistration number: 4459850\nISIN: GB0031852162\nJUBILEE PLATINUM PLC\n('Jubilee' or 'the Company')\n\nCompletion of Drilling Programme at the Tjate project and Results Update\n\nJubilee Platinum, the AIM quoted and JSE Limited listed mining exploration and development Company with a focus on platinum group metals (PGM) in South Africa, is pleased to announce the completion of its 42-borehole drilling programme including new preliminary and final results from thirteen boreholes drilled on Jubilee's Tjate platinum project in the eastern Bushveld Complex in South Africa. This drilling programme forms part of Phase two of the feasibility study that commenced in early 2008. \n\n\nHighlights \n\n\n\nThe drilling programme for Phase two of the feasibility study has now been completed;\n\n\n\n\n\nAll 13 boreholes intersected the Merensky Reef (MR), (of which 2 intersected pothole facies), at expected projected depths (from plain elevation), with grades and thicknesses generally in line with the variability expected for this reef; \n\n\n\n\n\nBorehole DT35 intersected high assays in the motherhole MR (10.43 g/t 3PGE + Au) (combined platinum, palladium, rhodium and gold), 0.35% nickel (Ni) and 0.21% copper (Cu) over 0.99 metres - further results awaited from additional deflection drilling;\n\n\n\n\n\nBorehole DT40 intersected MR averaging 3.04 metres thick and assaying 6.71 g/t 3PGE+Au with 0.16% Ni and 0.10% Cu - further deflection results awaited; \n\n\n\n\n\nBoreholes DT30 and DT33, intersected specifically targeted UG2 chromitite (UG2) reef at projected depths with higher than expected grades of up to 7.8g/t 3PGE+Au; and \n\n\n\n\n\nBorehole FF01, which tested continuity of MR in the adjacent down dip farm Fernkloof, intersected MR at approximate target depth (1,597m down hole from collar).\n\n\n\n\nDetailed results are summarised in Table 1 below.\n \nTable 1 Summary of Merensky Reef (Optimal ('Mining') Cuts) and UG2 Chromitite reef Intersections \n\n\n\n\n\nBorehole...