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(JLP) Jubilee Platinum Share Chat

Discussion in 'General Share Chat (JLP)' started by rodrod1, Aug 13, 2015.

  1. Groucho

    Groucho Member

  2. Groucho

    Groucho Member

    LSE - JLPpositive RE: New RNS !

    Caerus Mineral Resources (LON: CMRS), the exploration and resource development company focused on developing mineral resources in Europe to support the global "Clean Energy" initiative, is pleased to inform Shareholders that diamond drilling for Resource definition has commenced at the Troulli Project one month ahead of schedule.

    The diamond drill rig scheduled to arrive in Cyprus in October has been delivered to site almost a month early. The rig was transferred to the Troulli Project site on Friday 17 September 2021 and commenced drilling on Monday 20 September 2021.


    · The Resource evaluation programme scheduled for Troulli Project has commenced ahead of schedule

    · Hard rock samples will be collected and delivered to Jubilee Metals Group ("Jubilee") for further detailed mineralogical test work

    · The Company will capitalise on the current availability of both a diamond and a scout drill rig to run two drill programmes in parallel

    · Access to low-cost scout drill data enables the Caerus exploration team to broadly define legitimate targets well-ahead of more costly diamond drilling and the definition of potential Mineral Resources

    · Diamond drilling will initially focus on sulphide mineralisation in the former Troulli open pit, extensions of the pit, the high-grade gold oxide zone and underlying sulphide mineralisation.

    · Scout drilling will operate in advance of the diamond rig testing the 1.5km long structure hosting impressive evidence of hydrothermal activity (a prerequisite for Volcanogenic Massive Sulphide formation) that may link the Troulli deposit with the Kokkinapetra deposit.

    · Scout drilling will also test the 32,000m2 surface area covered by gold oxide mineralisation at Kokkinapetra and test for underlying sulphide mineralisation.

    · Once scout drilling is completed, the rig will relocate to other priority targets within the Caerus project portfolio and delineate mineralisation in anticipation of follow-up by diamond drilling

    The rig will drill-out a variety of resources and targets provisionally defined by the recent scout drilling programme with the purpose of defining an NI 43-101 Mineral Resource and will provide high-quality fresh samples for further mineralogical test work being undertaken by Jubilee Metals Group ("Jubilee").

    Commenting on the dual drill programme, chief executive officer Martyn Churchouse said; "The preliminary work undertaken over the past few months is starting to deliver results and the benefits of having two drill rigs available to us on a full-time basis is becoming evident. We have a well-defined drill programme prepared for Troulli and depending on the results of the scout drilling we expect to be able to roll out the diamond programme to include the prospective structure linking the Troulli and Kokkinapetra deposits and potentially increasing resource tonnes well beyond our projected estimates".

    More news out of Cyprus

    RE: New RNS !

    According to the previous TR-1 issued by Slater, Slater owned 121,300,000 shares and now own 271,463,789, which is fantastic.

    According to the JLP website, Slater already owned 190,200,000 as at 21 September 2021 (8,48%).

    I would like to believe that Slater did not sell down their holding at higher prices knowing full well that they would be offered shares at a lower price given their obvious confidence in the Company .

    Would that mean that there may be another TR-1 on the horizon?

    GLA and DYOR

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