Prospects
South Africa
Maude Mining & Exploration
Maude Mining & Exploration, Jubilee’s 91% owned South African subsidiary, has had its application for new order Mining Rights accepted by the Department of Mineral Resources on various portions of the farms Bokfontein JQ448 and Elandsdrift JQ467 and the chrome rights to one portion on Elandsdrift in the western Bushveld Complex. These two properties are located to the west of the town of Brits and cover in total some 600 hectares.
Earlier exploratory shallow drilling identified the UG1 low-PGE bearing chromitite reef on Bokfontein but did not find a similar shallow chromitite layer at its first line of drilling along dip on Elandsfontein.
Following a recent review of the strategic value of the properties, Jubilee has entered into informal discussions with other entities in the area that hold the chrome mining rights on these properties with a view to exploiting the PGEs present in both the chromite ore and the waste arising from their mining and processing of the chromite.
Braemore Platinum Resources
Braemore Platinum Resources (Pty Ltd) (BRR) (a subsidiary of Jubilee) has acquired the prospecting rights to both PGE and chrome containing reefs on 69 farms in the western Bushveld Igneous Complex. The majority of the farms are located near the town of Brits located in the western bushveld of South Africa. BRR is a Black Empowered entity (BEE) with the BEE entity Sub Sahara Resources (Pty) Ltd holding 51% and Jubilee 49% interest in the company.