Jubilee Platinum has revised the results from its study at the Tjate project, confirming the presence of combined platinum, palladium, rhodium and gold.

Borehole DT23 at the Merensky Reef revealed that 12.04 g/t 3PGE and gold was found along with two deflections showing 7.46 g/t 3PGE and gold, as well as 18.03 g/t 3PGE and gold.

This showed a weighted average assay for the hole of 12.52 g/t 3PGE and gold over 0.98m of thickness.

Colin Bird, Chief Executive Officer of Jubilee Platinum, said the results confirmed areas of expected consistency and could have an impact on the future of the project.

"The accelerated drilling is rapidly advancing the project towards a definitive resource estimate," he added.

An independent structural modelling exercise revealed that the Merensky Reef occurred as two distinct types of thickness.

A wide type thicker than 1.84m and a thinner type which is approximately 1.01m thick both occur at the Merensky Reef.

The wide type represents over 70 per cent of the tonnage and accounts for 77 per cent of the 3PGE and gold content.

If this feasibility study proves to be correct it could affect overall mining costs "very favourably" the firm said.

Source:



Drilling at Jubilee’s Tjate 'rapidly advancing', 11/08/08
http://www.miningweekly.com/article.php?a_id=140467

Update on drilling programme at the Tjate project, 11/08/08
http://www.jubileeplatinum.com/releases/drilling_on_tjate_110808.pdf