Madagascar
The Company’s Ambodilafa project in Madagascar forms part of the Vohipaha ultramafic/mafic complex and is an arcuate layered mafic-ultramafic intrusion. The prospect area covers some 98km2 and is located 160km south east of the capital. Access is by way of a 90km road from the eastern coastal port of Nosy Varik.
Airborne surveys and follow-up surface exploration work over the past couple of years has identified several nickel anomalies in the area over an indicated 17km long north-west strike, as targets for exploratory drilling. Preliminary geological analysis indicates that structurally the anomalous zones dip at 75o to the west. A target for a limited drilling programme has been identified. The Company contracted a local drilling contractor but issues regarding their performance have deferred material commencement of drilling.
The Company has entered into a formal Farm-In-Agreement, with Australian incorporated (unlisted) Indian Pacific Resources Limited (IPR), under which IPR can earn in up to a 90% interest in a potentially large non-core iron ore prospect on the Company’s Ambodilafa nickel copper PGE project. The agreement excludes platinum group metals and all non-ferrous metals traded on the London metal exchange. Under this agreement Jubilee has participation rights with minimum initial funding. The iron ore target is in the Samelahy area of the Ambodilafa concession and is a 6km long high intensity aeromagnetic anomaly, identified by IPR and in a previous airborne geophysics by Company’s subsidiary Mineral Resources of Madagascar sarl.
Ambodilafa is located only 45km from the ocean and 80km south west of Tratramarina, which is a potential logistic advantage for iron ore shipping.
The venture continues to enjoy the support and cooperation of the Madagascan authorities. The National Office for the Environment has accepted Jubilee’s environmental impact proposals and has issued the relevant environmental permit (Cahier des Charge) needed for drilling to proceed.