By: Creamer media

"We are very excited by these results, delivered in a few short months, which confirm the apparent continuation of the high-grade copper reef close to surface that is currently being accessed at the Molefe mine operations. The high-grade intersections of shallow copper oxide are perfectly suited for processing and refining at the nearby Sable refinery.

"The extension identified to the eastern boundary provides a strong indication of the further continuation of the mineralised reef, particularly given the additional approximately 12 300 ha of exploration ground we hold to the east of the 400 ha Molefe mining area," Jubilee CEO Leon Coetzer comments.

He adds that Phase 2 drilling at the mine has started with the aim to further define the eastern extension.

"Results from the Phase 2 drilling programme will be used to provide a clearer timeline for the release of a formal resource estimate. The updated expanded mine plan, incorporating the latest drill results and developed in partnership with [Aim-listed] Galileo [Resources], is expected to be published within the coming three weeks."