MMS.L Regulatory News (MMS)

17 Sep 2007 07:00

Maghreb Minerals PLC17 September 2007 MAGHREB MINERALS PLC DRILLHOLE MBJ6 AT BOU JABEUR GITE DE L'EST INTERSECTS 18.9m GRADING 10.6% ZINC: OTHER POSITIVE RESULTS RECEIVED Maghreb Minerals Plc ("Maghreb" or "the Company"), the AIM-quoted explorationcompany developing base metal and industrial mineral deposits in North Africa,is pleased to announce assay results from the latest drillhole in the Company'sverification programme. MBJ6, at Bou Jabeur Gite de l'Est deposit shows high-grade zinc mineralisationover a large interval. Barium and fluorine results from earlier drillholes in the series, MBJ2 to MBJ5,drilled by the Company confirm the presence of high-grade barite and fluoritemineralisation associated with the high-grade lead-zinc assay intervalspreviously reported. Highlights • Drilling results from the MBJ6 provide verification of the previous Office National des Mines ("O.N.M.") drilling, with 42.2m grading 7.47% zinc ("Zn") and 0.7% lead ("Pb") which includes 18.9m grading 10.61% Zn and 0.8% Pb. • Barium and fluorine assays received to date for drillholes MBJ2 to MBJ5 confirm the presence of significant thicknesses of barite ("Ba") and fluorite ("F") mineralisation in addition to the excellent zinc and lead assays previously reported for these drillholes. Verification Results Drillhole MBJ6 The verification drilling programme (MBJ series) commenced in mid-March 2007,targeted at verifying past O.N.M. resource estimates* and to providemetallurgical samples for test work, which will form part of a proposedpre-feasibility study. The latest zinc and lead results to be received are fordrillhole MBJ6, and the intersections are as follows: DRILL FROM TO INTERVAL Zn Pb COMBINEDHOLE (m) (m) (m) (%) (%) Zn%+Pb%--------------------------------------------------------------------------------MBJ 6 253.10 255.60 2.50 7.46 0.84 8.30 258.60 300.80 42.20 7.47 0.70 8.17including 278.50 297.40 18.90 10.60 0.80 11.40including 294.25 297.40 3.15 15.72 1.39 17.11 Barium and Fluorine Results Barium and fluorine assays received to date for drillholes MBJ2 to MBJ5 confirmthe presence of significant thicknesses of barite and fluorite mineralisation inaddition to the significant zinc and lead assays previously reported for thedrillholes. DRILL FROM TO INTERVAL Ba % F %HOLE (m) (m) (m)MBJ 2 61.00 65.25 4.25 34.67 - 66.20 67.60 1.40 20.01 - 77.85 79.25 1.40 14.14 ---------------------------------------------------------------------------------MBJ 3 180.40 221.60 41.20--------------------------------------------------------------------------------of which 180.40 187.65 7.25 37.77 10.51-------------------------------------------------------------------------------- 189.15 192.80 3.65 37.79 5.31-------------------------------------------------------------------------------- 193.80 196.25 2.45 33.70 2.96-------------------------------------------------------------------------------- 198.45 203.65 5.20 44.4 6.03-------------------------------------------------------------------------------- 205.35 209.45 4.10 51.19 1.27-------------------------------------------------------------------------------- 219.35 221.60 2.25 35.65 0.97----------------------------------------------------------------------------------------------------------------------------------------------------------------MBJ 4 206.15 224.70 18.55 24.18 7.11--------------------------------------------------------------------------------including 206.15 211.65 5.50 29.31 4.30--------------------------------------------------------------------------------including 206.15 207.95 1.80 43.24 4.92-------------------------------------------------------------------------------- 216.65 223.65 7.00 26.59 8.62----------------------------------------------------------------------------------------------------------------------------------------------------------------MBJ 5 257.70 263.45 5.75 18.38 4.94-------------------------------------------------------------------------------- 268.60 283.65 15.05 40.63 1.51-------------------------------------------------------------------------------- 289.65 291.65 2.00 17.92 0.81-------------------------------------------------------------------------------- Fluorine results are awaited for MBJ1, MBJ2, and barium and fluorine results forMBJ6 onwards. Gordon Riddler, Executive Chairman, commented: "The excellent zinc results from MBJ6, together with supporting strong baritevalues associated with the high-grade zinc mineralisation intersected in MBJ1 toMBJ5 provide encouragement to our expectations of establishing a significantzinc resource and substantial mining operation at Bou Jabeur - Gite de l'Est". *NOTE FOR EDITORS A 1996 O.N.M. report* cites a "resource estimate" of 5.8 million tonnes ("Mt")with a grading of 3.6% Zn, 1.5% Pb, 33.80% BaSO4, and 9.3% CaF2, includingpossible, probable and certain categories (the latter being 3.4 Mt at 3.6% Zn,1.2% Pb, 10.6% CaF2, 39.2% BaSO4). It is estimated that less than 800,000 tonnesof the deposit has been mined. The in-situ value of the deposit, which consists of lead, zinc, barite andfluorite, is estimated to be in excess of US$980 million, based on currentprices. (Zn US$1.75/lb, Pb US$0.71/lb, BaSO4 US$35/t, CaF2 US$230/t). ENQUIRIES: Maghreb Minerals Plc Tel: +44 (0) 20 7556 7038Gordon Riddler, Executive Chairman Hanson Westhouse Limited Tel: +44 (0) 20 7601 6100Tim Metcalfe / Anita Ghanekar Bankside Consultants Tel: +44 (0) 20 7367 8888Michael Padley / Michael Spriggs The sources of some of the information in relation to the Bou Jabeur mine weresourced from O.N.M. The Company has not been able to independently verify theaccuracy of some of this information. The technical content of this press release has been reviewed by the ExecutiveChairman of Maghreb Minerals plc, Gordon Riddler, BSc, MBA, FIMMM, CEng, CSci.who has 40 years of experience in the mining sector and is a Fellow of theInstitute of Materials, Minerals and Mining, a recognised professionalassociation. This information is provided by RNS The company news service from the London Stock Exchange