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Tjate Project Update
Tjate Project Update.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 0478J Jubilee Platinum PLC 24 March 2010 \n \n\nAIM: JLP\nJSE: JBL\nRegistration number: 4459850\nISIN GB0031852169\n \n24 March 2010\n \nJubilee Platinum plc\n \n(\"Jubilee\" or the \"Company\")\n \nJubilee Engages Snowden Mining Industry Consultants To Advance Tjate Platinum Project Towards Feasibility \n \nThis announcement is not related to the cautionary announcement released on 2 March 2010\n \nJubilee is pleased to announce it has engaged Snowden Mining Industry Consultants (\"Snowden\") following a multi-company tender to manage the engineering, financial and environmental assessment of the Tjate Project towards feasibility. The Tjate Project comprises three contiguous farms, totalling 5,143 hectares in the eastern Bushveld: namely Dsjate, Fernkloof and Quartz Hill.\n \nSnowden expects to issue a preliminary feasibility statement by the end of 2010. The Company anticipates the study will include some infill drilling and metallurgical testwork on the UG2 chromitite reef to reinforce the robustness of the mineral resource estimate and broaden the economic evaluation of the deposit. \n \nColin Bird CEO commented: \"Rapidly increasing platinum group metal prices and the apparent improvement in global economies gives the Board the confidence to advance the project to final evaluation.\" \n \nNotes to editors\n \nThe Tjate Project comprises three contiguous farms, totalling 5,143 hectares in the eastern Bushveld: namely Dsjate, Fernkloof and Quartz Hill. The farms are downdip of Impala Platinum's operating Marula platinum mine and Anglo Platinum's developing Twickenham platinum mine. Jubilee is advancing the Project to feasibility study. The Project's \"First mine\" resource area hosts a SAMREC Code compliant resource of 132.5 million tonnes (after geological losses) of combined indicated and inferred resource of Merensky and UG2 chromitite reefs containing 25 million oz 6PGE+Au. at a combined grade of 5.93 g/t 6PGE*+Au (platinum, palladium, rhodium, iridium, ruthenium , osmium and gold). An independent geological consultant commented that if the Merensky Reef and UG2 chromitite reefs were to extend over the three Tjate Platinum properties, which measure some 51 square kilometres, then within this area Tjate could l...