New drill results from Madagascar PGM project

Jubilee Platinum yesterday announced 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 m southeast of borehole LAV1.

The Londokomanana project is located approximately 150 km north of the Madagascan capital Antananarivo. Highlights include: a multi-metal intersection in the second borehole, which confirms continuity along strike of formation and a 75-m true width of mineralisation, which lends itself to low cost bulk mining.

The mineralisation is also consistent with that identified in borehole LAV1 - as reported on last month.

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, Jubilee said.

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 in Johannesburg 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.

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