Madagascar target grows for JubileeRebecca KeenanMonday,...

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.