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Lavatrafo Project Update
Lavatrafo Project Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n Jubilee Platinum PLC\n20 September 2006\n\n\n20 September 2006\n\n JUBILEE PLATINUM PLC\n ('Jubilee' or 'the Company')\n\n Madagascar - Lavatrafo Project Update\n\n\nJubilee announces results from its borehole LAV7 and from trench sampling of a\nnew extension area of ultrabasic formation (Ranomena) on the Lavatrafo project\nin Madagascar. The Lavatrafo project forms the southern licence area of the\nLondokomanana concession held by Mineral Resources of Madagascar Sarl, Jubilee's\n85 % owned operating subsidiary, and is located approximately 150km north of the\nMadagascan capital Antananarivo.\n\nLAV7 was the first borehole to test a model of 'mineralised corridors' which the\nCompany is delineating from extensive soil sampling over the past several field\nseasons. The trench results from Ranomena area show high platinum group metal \n('PGM') and nickel ('Ni') values over tens of metres, presenting an immediate\ntarget for mapping, soil sampling and drilling.\n\n\nHighlights\n \n• Borehole LAV7 intersected 19m continuous PGM, ('Ni') and copper ('Cu')\n mineralisation - this was intersected 36m down hole (25m vertical depth \n from surface)\n\n• The intersection included 3m thickness grading 1.13g/t platinum, palladium \n and gold ('3E'), 0.27% Ni, 0.19% Cu (in situ gross metal value ('GMV') at \n current prices*: $114/t), and 0.8m width grading 0.71g/t 3E, 0.21% Ni,\n 1.03% Cu (in situ GMV: $149/t)\n\n• Total mineralised intersection (35.6m to 54.7m) assayed 0.53g/t 3E,\n 0.18% Ni, 0.21% Cu (in situ GMV:$78/t)\n\n• Average Platinum to Palladium ratio of 1.3 to 1\n\n• Identification of Ranomena, a new highly prospective PGE, Ni and Cu\n extension area located some 8km south of existing exploration\n\n• Four trenches sampled in Ranomena showed results that include runs of \n 8m @ 0.92g/t 3E, 0.36% Ni, 0.13% Cu (in situ GMV $127/t) and 26m @ 0.40g/t \n 3E, 0.19% Ni and 0.07% Cu (in situ GMV $67/t)\n\nColin Bird, CEO of Jubilee, commented 'I am pleased to report further successful\nexploration results at Lavatrafo, which suggest the potential for a large\nresource. Over the last three field seasons, we have 'homed in' on the best\nexploration methodology and are confident that we have now developed an\neffective and cost-efficient exploration model. In essence, close spaced\ngeochemical sampling has enabled us to ident...