madagascar

Madagascar target grows for Jubilee
Rebecca Keenan


Monday, September 13, 2004

DRILLING at Jubilee Platinum's Londokomana prospect in Madagascar has indicated the possibility of developing a bulk tonnage nickel-copper project with Jubilee saying it will now accelerate its exploration program.

The completed trenching and pitting program returned best values of 10,570 parts per million (1.06%) nickel and 3700ppm (0.37%) copper in new trenches and 12,750ppm (1.28% nickel) and 8750ppm (0.88%) copper in existing trenches.

Jubilee said weighted average values along sections of the trenches include 2.84% copper equivalent over 11m , 2.56% copper equivalent over 29m and 1.2% copper equivalent over 43m.

The company said the deposit has significant economic potential on the basis of the nickel and copper, which would be increased with the possibility of a PGM component – as highlighted by earlier exploration by French BRGM in the 1960s.

The prospect has a strike length of 10km with the mineralisation open to the north and south. Follow up trenching, including a program of ground geophysics, will now be carried out to identify drill targets.