Successful Smelting Trials

RNS Number : 6768D

Jubilee Platinum PLC

07 December 2009

 



SYLVANIA RESOURCES PLC ASX:SLV AIM:SLV Registration number 091 415 968 ISIN AU000000SLV8 ("Sylvania")

JUBILEE PLATINUM PLC  AIM: JLP JSE: JBL Registration number 4459850 ISIN GB0031852169  ("Jubilee")

                                                                                                                              7 December 2009

Joint Announcement 

Successful smelting trials of Sylvania's low grade platinum concentrate by Jubilee Platinum plc ('Jubilee'), SA

Key points

• Successful PGM smelting results through Sylvania/Jubilee strategic alliance 

• Previously uneconomic low grade PGM concentrates successfully treated through Jubilee's ConRoast DC smelting process 

• Concentrate trialled- low PGE grade (85g/t 6E) and a high chrome content (7%)

  • 99% of the PGM's were recovered

  • high chrome content posed no risks to PGM recovery, safety or smelter performance

• Further trials of low grade concentrates from Sylvania's Dump Operations and its recently acquired Platreef surface resources are planned in the near future

Following the announcement of their strategic alliance, Sylvania and Jubilee today announce successful trial results from the smelting of low grade platinum group metal (PGM) concentrates at Jubilee's ConRoast DC furnace at Mintek, South Africa. The strategic alliance is designed to enable both companies to unlock previously uneconomic low grade PGM resources by developing new smelting processes. If comprehensive testing proves positive the proprietary ConRoast DC smelting process will be fed from PGM tailings dumps and surface resources held by Sylvania.  

The concentrate trialled was produced by Sylvania's operation outside of any of Sylvanias contractual obligations.  The concentrate had a low PGE grade (85g/t 6E) and a high chrome content (7%). Low PGM grade negatively affects the volume of concentrate that needs to be treated and high chrome concentrations hinder the performance and safety of traditional AC furnaces at our off take partners. 

Approximately 99% of the PGM's were recovered. In addition, the high chrome content posed no risks to PGM recovery, safety or smelter performance thereby confirming the applicability of Jubilee's ConRoast DC smelting process to the treatment of low grade PGM concentrates.

In light of these positive results, and the strategic alliance with Jubilee, Sylvania has agreed to trail additional low grade concentrates from other dump operations with Jubilee.

In addition, Sylvania will also trial concentrates produced from the bulk sampling program that will be conducted at its recently acquired Grass Valley Platreef resource in the Northern Limb of the Bushveld Igneous Complex.

Commenting on the developments, Terry McConnachie (Managing Director, Sylvania Resources Limited) said "I'm encouraged by the trials and the developing strategic alliance with Jubilee. The growing interaction between our two groups is yielding a range of value creating opportunities which are being further evaluated. This alliance with Jubilee allows Sylvania to develop a new low cost, low risk platinum business to sit alongside our successful tailings recovery operations".

Colin Bird (CEO Jubilee Platinum) said "This further affirms the application of the ConRoast process to a wide range of concentrates within the Platinum industry. Once proven on a larger scale, this should accelerate the transformation of Sylvania into a mid-tier platinum producer".

For further information please contact: 

Sylvania Resources

Jubilee Platinum

South Africa  Terence McConnachie  Managing Director  Tel [phone] Louis Carroll  Finance Director/Joint Company Secretary Tel [phone] United Kingdom Richard Brown/ Richard Greenfield  Ambrian Partners Limited, Nominated Adviser  Tel [phone] Laurence Read/Beth Harris  Threadneedle Communications, Public Relations Adviser  Tel [phone] Australasia Richard Rossiter  Non Executive Chairman Tel [phone] Grant Button  Director/Joint Company Secretary Tel [phone]

Colin Bird Jubilee Platinum plc Tel [phone] Leon Coetzer Braemore Resources plc Tel [phone] Andrew Sarosi Jubilee Platinum plc Tel [phone]   Suzanne Johnson-Walsh Bishopsgate Communications Ltd Tel [phone] Brian Christie/Leonard Eiser Sasfin Capital Tel [phone] Matthew Robinson/ Rose Herbert FinnCap Tel [phone]

 

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