MMS.L Regulatory News (MMS)

2 Mar 2006 07:00

Maghreb Minerals PLC02 March 2006 MAGHREB MINERALS PLC COMMENCEMENT OF THE EXPLORATION DRILLING PROGRAMME ON THE GOLD-COPPER-POLYMETALLIC PROSPECT AT TAN CHAFFAO, ALGERIA HIGHLIGHTS • An O.R.G.M. drilling rig has been commissioned and mobilised to Tan Chaffao. • The first drillhole, MTC001, has been drilled to 101.2m near an earlier O.R.G.M. drillhole, DDH S21, to test the along strike and down dip extension of gold-copper mineralisation. • A similar geological sequence of altered volcano-sedimentary rocks, containing quartz veins and secondary pyrite in chlorite-sericite schists, has been intersected in drillhole MTC001 to that recorded in DDHS21. Maghreb Minerals plc is pleased to announce that an O.R.G.M. (Office National deRecherche Geologique et Miniere) drill rig has been mobilised to Tan Chaffao andthe first drill hole has been drilled to 101.2m. Core logging is in progress andthe results from core assays are expected at the end of March 2006. At Tan Chaffao, the geology comprises acid volcanics (porphyritic rhyolites)along the southern eastern edge of the licence area overlain by avolcano-sedimentary unit, including volcanic tuffs, with mafic volcanics(diabase) lateral to and overlying the volcano-sedimentary unit to the North.Major fault structures traverse the area. Polymetallic (Cu-Zn-Pb) and fine gold bearing mineralisation has been reportedin disseminated and massive sulphide veins (up to 50%); pyrite, chalcopyrite,sphalerite and occasional bornite; hosted by altered rhyolites, secondaryquartzites, quartzitic schists with sericite and tuffs within a broad aureole ofchlorite-quartz-sericite-pyrite alteration. The first drillhole, MTC001, was located 40m northwest along strike from theprevious ORGM drillhole, DDH S21, to test the along strike and down dipextension of the mineralisation. DDH21 reported 17m grading 3.5 gpt Au and 1%Cu, and 21m grading 2.0 gpt Au within 100m from surface. Visual inspection ofthe drill core from drillhole MTC001 indicates a similar geological sequence, ofaltered volcano-sedimentary rocks with quartz veins and secondary pyrite inchlorite-sericite schists, to that recorded from drillhole DDH S21. Results fromcore samples are expected at the end of March 2006. Chairman, Gordon Riddler, said "I am pleased to see our exploration programme inAlgeria moving ahead and await the results of the first drillhole with interest.The immediate drilling programme is targeted at demonstrating the lateral anddown-dip continuity of the known mineralisation in the southern portion of theTan Chaffao exploration license. Drilling is also aimed at establishing agold-copper-polymetallic resource. An exploration programme, including drilling,is also planned to test the potential over some 21km, northwards of the currentdrilling area, on the same hydrothermally altered geologic units." For further information please contact: Maghreb Minerals Plc Westhouse Securities LLPRobyn Storer/Gordon Riddler Richard Morrison / Tim MetcalfeTel: 44 (0) 20 7556 7038 Tel: 44 (0) 20 7601 6100 This information is provided by RNS The company news service from the London Stock Exchange