Successful Smelting Trials

 

 

7 December 2009
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162

Jubilee Platinum Plc
(“Jubilee” or “the Company”)

Sylvania Resources Plc
ASX:SLV
AIM:SLV
Registration number 091 415 968
ISIN AU000000SLV8
(“Sylvania”)

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 +27 11 673 1171

Louis Carroll 

Finance Director/Joint Company Secretary

Tel +27 11 673 1171

United Kingdom

Richard Brown/ Richard Greenfield 

Ambrian Partners Limited, Nominated Adviser 

Tel +44 20 7634 4700

Laurence Read/Beth Harris 

Threadneedle Communications, Public Relations Adviser 

Tel +44 20 7653 9855

Australasia

Richard Rossiter 

Non Executive Chairman

Tel +61 41 868 8338

Grant Button 

Director/Joint Company Secretary

Tel +61 8 922 64777

Colin Bird

Jubilee Platinum plc

Tel +27 (011) 253 3280

Leon Coetzer

Braemore Resources plc

Tel +27 (0) 87 754 7608

Andrew Sarosi

Jubilee Platinum plc

Tel +44 (0) 1752 221937  

Suzanne Johnson-Walsh

Bishopsgate Communications Ltd

Tel +44 (0) 20 7562 3350

Brian Christie/Leonard Eiser

Sasfin Capital

Tel +27 (0) 11 809 7500

Matthew Robinson/

Rose Herbert

FinnCap

Tel +44 (0) 20 7600 1658