Jubilee Platinum PLC
06 October 2005
6th October 2005
AIM: JLP
JUBILEE PLATINUM PLC
('Jubilee' or 'the Company')
Second Borehole Confirms Continuity of Recent Discovery in Madagascar
Jubilee announces the results of its second borehole LAV2A, drilled on the
Lavatrafo property (Londokomanana Project) in Madagascar. The Lavatrafo deposit
is the southern unit of two currently disparate nickel-copper-platinum-palladium
deposits that fall within the Londokomanana concession held by Mineral Resources
of Madagascar Sarl, Jubilee's 85% owned subsidiary. This borehole was stepped
out 150 metres southeast of borehole LAV1. The Londokomanana project is located
approximately 150 kilometres north of the Madagascan capital Antananarivo.
Highlights
• Multi-metal intersection in the second borehole confirms continuity
along strike of formation
• The 75-metre true width of mineralization lends itself to low cost
bulk mining
• Mineralization is consistent with that identified in borehole LAV1 -
as reported on 5th September 2005
• In-situ gross metal value (GMV) of the intersection is US$52/t rock or
1.32% Cu equivalent at current metal prices
• Intersections of higher GMV include 20 metres at US$98 per tonne rock
and 43.8 metres at $77/tonne rock.
• These results compare favourably with bulk mining projects currently
being developed world-wide
Results of the full 92 metres (from 72 to 164 metres) apparent width of
mineralised intersection are appended and selected intercepts summarised below:
From metres To Intercept Nickel Copper 3E* % Cu In-situ GMV $/
t (at current
metres metres % % g/t equiv. prices)
72.35 164.05 91.7 0.26 0.14 0.66 1.32 52
82.35 162.05 79.7 0.29 0.16 0.73 1.46 57
115.0 158.8 43.8 0.40 0.25 0.80 1.95 77
136.1 156.2 20.1 0.52 0.33 0.92 2.49 98
*3E platinum, palladium, gold
The continuity of the formation, its strike direction and the lithology of the
host and contact rocks generally correlate well with the geophysical data
generated in our earlier exploration. A stratigraphic sequential pattern of
lithologies is emerging, and it is anticipated that this pattern will direct the
drilling in several formations in the vicinity, showing similar geophysics
further to the south and to the north of the current drilling programme.
Set Point Laboratories (ISO 17025 and SANAS Accredited) in Johannesburg, South
Africa carried out the analyses of the borehole core samples. Quality assurance
in place currently comprises of standards, blanks and check samples making 10%
of samples submitted.
Colin Bird, CEO of Jubilee, said: 'The results of this step out hole have
confirmed our prediction of the continuity of a wide mineralised package at
Lavatrafo. Assuming this formation continues, we are potentially looking at a
large open-pit mineable bulk deposit, at an $11/t cut-off. Our immediate
objective is to delineate the strike of the formation and then prove up the
model. We believe that the results could lead to Lavatrafo becoming a
significant mining region and we will report further on our drilling programme
as soon as possible.'
Ends
For further information please contact:
Colin Bird Cathy Malins / Annabel Leather
Jubilee Platinum plc Parkgreen Communications Ltd
Tel: 07768 397 627 Tel +44 20 7493 3713
Appendix
Lavatrafo drill results - Borehole LAV2A
Grade
Sample From To Interval Au Pt Pd Ni Cu
no. metres metres metres ppm ppm ppm ppm ppm
S7469 72.35 73.35 1.00 0.01 0.16 0.12 856 94
S7471 73.35 74.35 1.00 <'0.01 0.23 0.14 961 46
S7472 74.35 75.35 1.00 <'0.01 0.11 0.07 1244 38
S7473 75.35 76.35 1.00 <'0.01 0.07 0.06 1168 42
S7474 76.35 77.35 1.00 <'0.01 0.03 0.05 1120 47
S7475 77.35 78.35 1.00 <'0.01 0.05 0.06 1065 38
S7476 78.35 79.35 1.00 <'0.01 0.05 0.04 1078 38
S7477 79.35 80.35 1.00 <'0.01 0.10 0.17 1258 96
S7478 80.35 81.35 1.00 <'0.01 0.01 0.01 1327 45
S7479 81.35 82.35 1.00 0.01 0.13 0.17 1302 92
S7481 82.35 83.24 0.89 0.06 0.38 0.40 1932 241
S7482 83.24 83.7 0.46 <'0.01 1.51 1.72 1877 396
S7483 83.70 85.78 2.08 0.02 0.10 0.09 291 112
S7484 85.78 86.83 1.05 <'0.01 <'0.01 <'0.01 236 47
S7485 86.83 87.83 1.00 <'0.01 0.58 0.04 340 47
S7486 87.83 88.83 1.00 <'0.01 0.36 0.04 165 39
S7487 88.83 89.83 1.00 <'0.01 0.44 0.24 259 39
S7488 89.83 90.62 0.79 <'0.01 0.18 0.16 293 65
S7489 90.62 91.69 1.07 <'0.01 0.37 0.23 1187 1051
S7491 91.69 92.71 1.02 <'0.01 0.08 0.09 133 74
S7492 92.71 93.71 1.00 0.02 0.12 0.15 1814 285
S7493 93.71 94.6 0.89 0.07 0.36 0.36 1735 393
S7494 94.60 95.6 1.00 0.09 0.38 0.41 1795 412
S7495 95.60 96.6 1.00 0.11 2.35 1.02 1716 483
S7496 96.60 97.2 0.60 0.25 0.36 0.39 1672 225
S7497 97.20 98.46 1.26 0.18 0.33 0.36 1503 307
S7498 98.46 99.46 1.00 0.12 0.31 0.40 6908 627
S7499 99.46 100.46 1.00 0.17 0.38 0.38 1930 208
S7001 100.46 101.21 0.75 0.07 0.50 0.60 173 85
S7002 101.21 101.54 0.33 0.02 0.12 0.11 2475 1276
S7003 101.54 101.89 0.35 0.07 0.28 0.36 2010 997
S7004 101.89 102.24 0.35 0.02 0.17 0.20 2874 1650
S7005 102.24 102.77 0.53 0.02 0.17 0.16 3006 2262
S7006 102.77 103.66 0.89 0.03 0.11 0.10 2840 1612
S7007 103.66 104.42 0.76 0.03 0.17 0.13 2035 943
S7008 104.42 105.52 1.10 0.03 0.14 0.15 1713 809
S7009 105.52 105.96 0.44 0.03 0.13 0.13 1720 444
S7011 105.96 106.96 1.00 0.09 0.23 0.25 64 43
S7012 106.96 107.96 1.00 0.07 0.35 0.38 2224 1678
S7013 107.96 108.96 1.00 0.16 0.56 0.37 1022 74
S7014 108.96 109.96 1.00 0.02 0.12 0.12 266 53
S7015 109.96 110.44 0.48 0.11 0.09 0.08 705 121
S7016 110.44 110.79 0.35 0.02 0.14 0.05 911 341
S7017 110.79 111.72 0.93 <'0.01 0.03 <'0.01 352 50
S7018 111.72 112.31 0.59 0.02 0.44 0.44 4175 1251
S7019 112.31 112.68 0.37 0.21 0.16 0.17 2331 2033
S7021 112.68 113.31 0.63 0.13 0.21 0.21 2342 1483
S7022 113.31 114.11 0.80 0.11 0.26 0.26 2044 1412
S7023 114.11 114.95 0.84 0.17 0.17 0.18 516 397
S7024 114.95 115.82 0.87 0.10 0.20 0.21 2764 1408
S7025 115.82 116.62 0.80 0.15 0.18 0.20 2935 1953
S7026 116.62 117.45 0.83 0.10 0.16 0.19 2461 1129
S7027 117.45 118.5 1.05 0.16 0.36 0.41 3198 2386
S7028 118.50 119.3 0.80 0.04 0.19 0.23 2551 869
S7029 119.30 120.1 0.80 0.08 0.25 0.27 2969 1308
S7031 120.10 121.01 0.91 0.09 0.41 0.44 3813 1707
S7032 121.01 121.3 0.29 0.39 0.15 0.16 1618 5090
S7033 121.30 122.1 0.80 0.14 0.31 0.31 3492 2028
S7034 122.10 122.86 0.76 0.14 0.31 0.35 3940 2057
S7035 122.86 123.5 0.64 0.17 0.57 0.49 3907 2757
S7036 123.50 124.7 1.20 0.11 0.24 0.28 3142 1568
S7037 124.70 125.97 1.27 0.08 0.21 0.25 2859 1154
S7038 125.97 126.74 0.77 0.10 0.23 0.28 3122 1566
S7039 126.74 127.23 0.49 0.16 0.33 0.40 3668 2167
S7041 127.23 128.28 1.05 0.11 0.23 0.29 2786 2143
S7042 128.28 129.66 1.38 0.08 0.22 0.23 2660 1052
S7043 129.66 130.63 0.97 0.05 0.26 0.28 2366 715
S7044 130.63 130.96 0.33 0.04 0.09 0.10 2119 544
S7045 130.96 131.96 1.00 0.12 0.43 0.48 3124 1421
S7046 131.96 132.96 1.00 0.08 0.38 0.42 3178 1182
S7047 132.96 133.96 1.00 0.15 0.40 0.47 3557 2029
S7048 133.96 134.96 1.00 0.14 0.24 0.33 2988 1213
S7049 134.96 135.66 0.70 0.10 0.21 0.27 2811 1118
S7051 135.66 136.11 0.45 0.02 0.20 0.24 2672 551
S7052 136.11 136.73 0.62 0.09 0.40 0.55 4061 1772
S7053 136.73 137.75 1.02 0.02 0.22 0.29 2820 618
S7054 137.75 138.62 0.87 0.07 0.24 0.29 2833 1036
S7055 138.62 139.97 1.35 0.09 0.40 0.44 2972 1069
S7056 139.97 140.55 0.58 0.13 0.51 0.48 3887 1746
S7057 140.55 140.98 0.43 0.09 0.43 0.47 3824 1762
S7058 140.98 142.05 1.07 0.09 0.29 0.27 3265 1718
S7059 142.05 143.38 1.33 0.07 0.40 0.28 3389 1360
S7061 143.38 144.03 0.65 0.03 0.22 0.24 3792 942
S7062 144.03 144.72 0.69 0.02 0.26 0.26 3013 800
S7063 144.72 145.72 1.00 0.20 0.37 0.32 4130 2972
S7064 145.72 146.72 1.00 0.45 0.36 0.33 5028 5841
S7065 146.72 147.72 1.00 0.10 0.42 0.36 5943 3852
S7066 147.72 148.72 1.00 0.06 0.32 0.29 5195 2290
S7067 148.72 149.72 1.00 0.09 0.41 0.37 5443 2684
S7068 149.72 150.72 1.00 0.16 0.44 0.48 5136 4374
S7069 150.72 151.72 1.00 0.13 0.33 0.54 6919 3437
S7071 151.72 152.72 1.00 0.36 0.21 0.50 7958 4736
S7072 152.72 153.72 1.00 0.08 0.50 0.53 14071 4852
S7073 153.72 154.37 0.65 0.05 0.35 0.49 8823 5504
S7074 154.37 155.42 1.05 0.41 0.67 0.40 6642 6638
S7075 155.42 156.2 0.78 0.14 0.89 0.45 4676 13235
S7076 156.20 156.79 0.59 0.43 0.11 0.17 1717 5997
S7077 156.79 157.72 0.93 0.47 0.33 0.25 3781 4752
S7078 157.72 158.82 1.10 0.08 0.08 0.11 2193 1940
S7079 158.82 159.93 1.11 0.09 0.18 0.16 859 1742
S7081 159.93 161.05 1.12 0.04 0.22 0.21 1808 878
S7082 161.05 162.05 1.00 0.04 0.20 0.17 2292 711
S7083 162.04 163.05 1.00 0.04 0.16 0.16 1642 679
S7084 163.05 164.05 1.00 0.08 0.10 0.10 1109 754
S7085 164.05 165.05 1.00 0.04 0.03 0.04 323 281
S7086 165.05 166.16 1.11 0.06 0.05 0.06 276 347
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