In March 2017, Tjate Platinum Corporation (Pty) Ltd notarially executed the grant of a mining right by the Department of Mineral Resources. Jubilee holds a 63% direct and indirect interest in the Project.
The Tjate platinum project (Project), is situated, on the eastern limb of the Bushveld Complex. The Project is located down-dip of Anglo Platinum’s Twickenham and Impala Platinum’s Marula mines. The Project’s Merensky and UG2 platinum reefs (Reefs) targeted for initial mining lie between 600 metres and 1,000 metres below surface.
The Project is independently judged to contain arguably the world’s largest undeveloped defined block of platinum ore. The property covers 5,140 hectares on three farms and the area has been independently appraised to contain a potential net 65 million ounces of platinum group elements (PGEs) and gold. This represents the resource targeted for future exploratory drilling.
This targeted estimate, which derives from the extrapolation of current drilling results is approximately three times greater than the currently indicated and inferred SAMREC-compliant resource estimate shown below. The resource estimate was derived from exploratory drilling completed in May 2009.
The Project’s Reefs extend to depths greater than 1,600 meters, offering significant potential to extend or expand production in future.