Business
Lavatrafo Update
Lavatrafo Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n Jubilee Platinum PLC\n05 February 2007\n\n\n JUBILEE PLATINUM PLC\n\n ('Jubilee' or 'the Company')\n\n Madagascar - Lavatrafo Project Drilling Update\n\n Nickel-Copper-PGM mineralisation intersected on Ranomena\n\n\nJubilee announces very pleasing results from its first borehole RAN1 drilled in\nthe Ranomena ultramafic intrusion, which intersected some 49 metres of\ncontinuous sulphide mineralisation. This intrusion occurs some 3.4 kilometres\nsouth of its main Lavatrafo ultramafic intrusion, which lies within the southern\nLavatrafo licence area in Londokomanana. This licence is held by Mineral\nResources of Madagascar Sarl, Jubilee's 85% owned operating subsidiary, and is\nlocated approximately 150km north of the Madagascan capital Antananarivo.\n\nA second borehole RAN2, some 400 metres north of and along strike of RAN1, has\nbeen drilled and results are expected later this month.\n\n\nHighlights:\n\n• 49m continuous platinum group metals ('PGM'), nickel ('Ni') and copper\n ('Cu') sulphide mineralisation intersected from 119m down hole (84m vertical\n depth from surface)\n\n• The intersection includes:\n\n • 3.7m grading 1.10g/t platinum, palladium and gold ('3E'), 0.56% Ni and\n 0.13% Cu (gross metal value ('GMV') of $114/t rock at current prices)*; and\n\n • 9m of 0.89g/t 3E, 0.49% Ni, and 0.16%Cu (GMV: $198/t)\n\n• Total 49m (119m to 168m) assaying 0.43g/t 3E, 0.28% Ni and 0.08% Cu\n (GMV:$111/t)\n\n• Average platinum to palladium ratio 0.7 to 1\n\n\n*Prices US$/oz: Pt 1100; Pd 300; gold 600. US$/t: Ni 35000; Cu 5000\n\n\nThe results are summarised in the table below, with detailed results shown in\nthe table as appended.\n\n\n\n Mineralised From To Total 3E Ni Cu GMV**\n Intersection m* m* m* g/t % % $/t rock\n\n Total 119 168 49 0.43 0.28 0.08 111\n\n including 123 145 22 0.62 0.35 0.10 141\n including 129 138 9 0.89 0.49 0.16 198\n including 135 138 3.7 1.10 0.56 0.13 226\n\n\n * Apparent thickness **GMV = gross metal value\n\n3E = platinum palladium & gold *Prices US$/oz: Pt 1100; Pd 300; gold 600.\nUS$/t: Ni 35000; Cu 5000\n\n\nColin Bird, CEO of Jubilee commented, 'We are very pleased with these excellent\nresults from this first borehole as we believe that they could be indicative of\na major extension to the mineralisation we have already seen in Lavatrafo. We\nhave now identified mineralisation ...