New high grade results at AM2 deposit

Jubilee Mines NL has announced a series of new high grade nickel sulphide intersections....

  Jubilee Mines NL has announced a series of new high grade nickel sulphide intersections in a down-plunge extension to the Alec Mairs 2 Deposit (AM2) in Western Australia.The AM2 deposit is located within a highly prospective area located approximately 500m south of the Cosmos Deeps mine in close proximity to existing infrastructure. This deposit is interpreted to be just one of a number of high grade mineralised surfaces in this position and is located in a footwall position to the recently announced discovery of the AM5 high grade disseminated deposit.These new high grade drill results are:· AMD250: 3.3m at 10.6% Ni; · AMD253: 1.3m at 13.3% Ni; · AMD260: 3.1m at 9.8% Ni; and· AMD261a: 5.3m at 7.3% Ni.Subject to confirmatory drilling it now appears likely that the AM2 Deposit will be extended for at least another 70m down-plunge. The mineralisation remains open and potential exists to extend this for a further 100m beyond these new results.These results have now defined the AM2 Deposit as a high grade shoot of massive nickel sulphides with a down-plunge extent of at least 200m.It is now anticipated that in-fill and extensional drilling of the AM2 deposit will commence with a view of including this extensional area into short to medium term mine plans. In addition, Jubilee has recently committed to extend its underground development within the Alec Mairs complex to enable the establishment of additional underground drilling platforms for further exploration of the AM5 deposit and the wider Alec Mairs Complex.