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Jubilee Platinum says drilling on its Londokomanana project in Madagascar has shown encouraging nickel grades.

Results from AIM-quoted Jubilee's first borehole, ANT1, in the northern part of Londokomanana at Antsahabe, have produced weighted average grades of up to 0.64 per cent nickel (equivalent to two per cent copper) with gross metal values of nickel plus copper ranging from $70 to $90 per tonne of rock. Intersections drilled include five metres at one per cent nickel and 1.7 metres and one metre at 2.1 per cent nickel, with copper equivalents ranging from 3.3 to 6.2 per cent and gross metal values from $146 to $278 per tonne of rock.

Colin Bird, chief executive officer of Jubilee (which owns Londokomanana through its 85 per cent-owned local subsidiary), comments 'these base metal values compare favourably with similar projects worldwide'. He adds 'our objective now is to confirm a significant strike length in order to establish a resource to support a large bulk mining operation'.

Jubilee, which is also developing platinum group metals projects in South Africa's Bushveld, was floated on AIM by broker Numis in 2002 at 16p. Recommended by Growth Company Investor a year ago at 26p, the shares are 3.75p up today at 48p, valuing the company at £37 million, and could have further to go while mining sector enthusiasm lasts.

Jubilee Platinum	AIM	£12.56m	11.50p	-0.50p
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Jubilee drilling extends strike at Londokomanana			16/11/2007