Business
Update from Ambodilafa
Update from Ambodilafa.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n Jubilee Platinum PLC\n22 February 2007\n\n JUBILEE PLATINUM PLC\n\n ('Jubilee' or 'the Company')\n\n Update from Ambodilafa Project, Madagascar\n\n Nickel-Copper Sulphide Mineralisation Intersected\n\n\nJubilee is pleased to announce that it has intersected semi-massive to massive\nnickel ('Ni') - copper ('Cu') sulphide mineralisation with its third diamond\ndrill hole ALF3 on the Ambodilafa prospect in Madagascar.\n\n\n\nThe large 4km wide by 14km long Ambodilafa concession lies within the extensive\nVohipaha mafic ultramafic intrusive system, 160km southeast of the Madagascan\ncapital Antananarivo. The prospecting licence is held 100% by Jubilee's wholly\nowned Madagascan subsidiary Mineral Resources of Madagascar ('MRM'). Impala\nPlatinum Holdings ('Implats') has an option agreement with Jubilee to earn in a\n51% interest in the project.\n\n\n\nHighlights:\n\n\n\n• Massive, semi-massive, net textured and disseminated nickel-copper\nsulphide mineralisation was intersected at a depth of 24m and generally\npersisted, although not continuously, to a depth of some 220m\n\n\n\n• The intersections include at a cut-off of 0.2%Ni over 1m:\n\n\n\n2.4m (from 24.4m to 26.8m) grading 0.76% Ni, 0.31% Cu, 0.31g/t\ngold-platinum-palladium ('3E') and 0.04% cobalt ('Co'). Gross metal value ('GMV\n') of US$300/t rock at current prices*\n\n2.2m (from 50.8m to 52.9m) of 1.29% Ni, 0.76%Cu, 0.11g/t 3E and 0.05% Co (GMV\nUS$515/t)\n\n5.5m (from 93.4 to 98.9m) of 0.63 % Ni, 0.16% Cu, 0.06g/t 3E and 0.03% Co (GMV\nUS$242/t)\n\n6.5m (from 197.7m to 204.2m) of 0.61% Ni, 0.30% Cu, 0.12g/t 3E and 0.02%Co\n(GMV US$241/t)\n\n\n• The discontinuous bands of mineralisation between 24m and 222m\ntotal 55m with weighted average grade of 0.42 % Ni and 0.23% Cu at a cut-off of\n0.20% Ni and 28m with weighted average grade of 0.61% Ni and 0.28% Cu at a\ncut-off 0.3% Ni.\n\n\n\n*Current Prices US$/oz: Pt 1100; Pd 300; gold 600. US$/t: Ni 35000; Cu 5000;\nCo US$20/lb\n\nGMV does not take into account any geological and metallurgical losses.\n\n\n\nAlthough earlier drillholes ALF01 and ALF02, which targeted the VTEM geophysical\nanomaly announced in December 2005, did not intersect significant base metal\nsulphide mineralisation, a significant value of 0.35g/t 3E was encountered at\nthe end of ALF01 over a 2m intersection from 198m to 200m (end of hole).\nDri...