Jubilee 'cracks' CosmosMichael QuinnMonday, January 31,...

Jubilee 'cracks' Cosmos


Michael Quinn
Monday, January 31, 2005


SHARES in Jubilee Mines powered through the $5 mark today after the company reported it had hit further high-grade nickel at its Prospero prospect near its Cosmos mine north of Kalgoorlie.

Jubilee said a hit of 3.8m at 15.1% at Prospero extended the identified massive nickel sulphide mineralisation over 200m down plunge and 120m down dip. Prospero is 4.5km south of the Cosmos mine.

Further encouragement was taken by an oxide intersection of 4m at 4.5% nickel at Anomaly 4, located 1km closer to Cosmos and around 500m up-dip of the massive nickel sulphide mineralisation.

Jubilee said three rigs are currently drilling around the clock, both infilling and extending the mineralisation.

The recent success continues a strong start to the year for Jubilee on the exploration front.

In a research note to clients last week, brokerage Citigroup Smith Barney said Jubilee's exploration team headed by Peter Langworthy "appear to have 'cracked the code' of the nickel sulphide exploration around Cosmos".

That claim was made on the basis that Jubilee's results of recent months "show an encouraging trend in locating high grade nickel sulphides using downhole geophysical techniques and structural interpretations of a faulted basal contact between felsic and ultramafic rocks where mineralisation is normally located".

Jubilee is keen to find replacement ore for the depleting high grade, high margin Cosmos Deeps orebody – expected to be exhausted around 2007/08.

Shares in the company closed up 18c at $5.13.

from trader 10 at sharescene

http://www.sharescene.com/index.php?showtopic=399&hl=

I think the oiginal article comes from miningnews.net.

Not everyone who goes there is a wanker!!!

I must admit I go there sometimes.

I admit I have had a wank.

Ask my girlfiend.

I did it it in front of & on her face ..

No shite.

ermm, off subject, scrub the last sentence please.

cheers.