Jubilee has acquired a strategic 25% interest in Black Economic Empowered (BEE) Tjate Platinum Corporation (Pty) Ltd (“Tjate”) for ZAR35 million with a right to subscribe for a further 10% interest on expenditure of ZAR14 million towards exploration and a feasibility study.

Tjate holds old order prospecting rights on three contiguous farms in the eastern Bushveld, namely Dsjate, Fernkloof and Quartz Hill which are down dip of Implats’ operating Marula PGM mine and Anglo Platinum’s Twickenham PGM project, which is being developed. The Tjate property is inferred to contain some 65 million oz PGMs plus gold, of which some 23 million oz is attributable to Jubilee. The application for conversion of the old order rights has been accepted by the Department of Minerals and Energy (DME) and the granting of the converted rights are believed to be imminent.

Drilling on the Dsjate farm has intersected both the Merensky and the UG2 chromitite reefs at expected depths and with PGM grades generally at the top end of expectations.

Drilling (two holes DT1 and DT2 completed and a third in progress) on the Dsjate farm has intersected both the Merensky and the UG2 chromitite reefs at expected depths and with PGM grades generally at the top end of expectations. (picture drill rig or core at Tjate with Vincent etc.)

Summary of results (weighted averages) to date are given below:

Tjate Map

Map reproduced with permission of Nedcor, (Map not to scale)

On Tjate drill site
From left to right,
Jean Nel, Geological consultant,
Vincent Phaahla, Tjate Platinum Corporation chairman and
Andrew Sarosi, Jubilee Platinum plc technical manager

Source: Jubilee Platinum plc

Drilling Hole DT2
Tjate- Drilling borehole DT2

Source: Jubilee Platinum plc

Hole DT2 Core
Merensky reef intersection start 722 meters

Source: Jubilee Platinum plc