new high grade results from prospero/announcement

NEW HIGH GRADE RESULTS FROM PROSPERO
Jubilee Mines NL (ASX: JBM) is pleased to announce new high grade nickel results from the
Prospero Prospect.
PROSPERO PROSPECT
The surface expression of the Prospero Prospect is located approximately 4.5 kilometres south of the
Cosmos Mine on the highly prospective Cosmos Ultramafic sequence (figure 1). The large
mineralised system plunges to the north where it has now been established that it develops into a
significant zone of high grade massive nickel sulphides (figure 2).
A significant new wide, high grade nickel intersection has been returned from follow-up drilling to the
recently reported diamond hole BJD112 (3.8 metres @ 15.1% Ni). Results for this hole are (see table
1 for details):
• BJD112a 11.3 metres @ 10.7% Ni and;
0.80 metres @ 13.5% Ni (including 0.4 metres @ 19.7% Ni)
Wedge hole BJD112a was drilled 20 metres up-dip of BJD112 (figure 3) and intersected a broad
zone of massive, massive-breccia and massive-stringer high tenor nickel sulphides associated with
felsic volcanic rocks, and confirms the local continuity of the mineralisation in this position.
Importantly, this result confirms that the mineralisation within this zone is close to true width. The
mineralisation is interpreted to remain open in all directions and is supported by down hole
electromagnetic (DHEM) data.
In addition, an interval of high tenor massive nickel sulphide was intersected in a hanging wall
position to the main zone of mineralisation. This interval is located immediately above the contact
between the ultramafic – felsic contact. The significance of this zone will be determined by future
drilling.
Results have now been returned for BJD082c. This hole was drilled 20 metres up-dip of the high
grade intersections returned from BJD082a and BJD082b (previously announced), and intersected a
1.8 metre zone of massive sulphides and sulphide stringers. Results for this hole are (see table 1 for
details):
• BJD082c 1.80 metres @ 4.01% Ni (including 0.27 metres @ 13.2% Ni)
Results of DHEM surveys indicate that this mineralised zone remains open up-plunge and the
intersection probably represents a local thinning.
Diamond drill hole BJD082d was drilled to test a DHEM anomaly defined by earlier holes
(BJD82,a,b). The hole tested the target zone 20 metres down-dip and to the south of previous drilling
and intersected a zone of massive and stringer sulphides. Assays and results of DHEM are awaited.
BJD115 was drilled approximately 120 metres to the north of BJD080 as a major step out. The hole
intersected blebby, disseminated and stringer sulphides over a broad interval. This result suggests
that the upper margin of the mineralisation may have been defined in this position. Assays and
results of DHEM are awaited.
Further High Grade Results From Prospero
The nickel sulphide mineralisation has been defined over a zone approximately 200 metres downplunge
and 120 metres down-dip. These recent results are providing confidence regarding the
presence of wider zones of mineralisation and continuity between drill holes. The entire area of
mineralisation remains open in most directions and the results of down hole electromagnetic surveys
(DHEM) provide further support for extensions to the mineralisation (Fig 2).
Drilling is continuing with a further 3 diamond holes currently in progress. This ongoing exploration
will consist of step-out drilling to determine the overall size potential of the mineralised zone, and a
program of closer spaced infill wedge holes to establish the internal continuity and local distribution of
the mineralisation throughout this zone.
Table (1) – Prospero Significant Drilling Intercepts
Hole No Northing Easting Dip Az From
(m) To (m) Width (m) Grade (Ni%)
New Results
BJD112a 6,940,510 261,360 -60 270 683.80 684.20 0.8 13.5
(Includes) 0.4 19.7
706.30 717.60 11.3 10.7
BJD082c 6,940,510 261,320 -60 270 613.47 615.28 1.8 4.01
(Includes) 0.27 13.2
Previously
Reported
BJD112 6,940,510 261,360 -60 270 713.72 717.51 3.8 15.1
BJD080a 6,940,640 261,320 -60 270 612.60 614.70 2.10 6.7
(Includes) 0.95 10.0
BJD080b 6,940,640 261,320 -60 270 614.58 618.23 3.65 5.5
(Includes) 1.23 11.24
BJD082 6,940,510 261,320 -60 270 624.53 625.15 0.60 4.0
651.74 653.45 1.71 6.5
BJD082a 6,940,510 261,320 -60 270 629.84 632.81 2.97 7.85
(Includes) 1.40 12.5
BJD082b 6,940,510 261,320 -60 270 633.40 638.01 4.60 9.2
(Includes) 2.0 12.4