29/08/2007
Maghreb Minerals says drilling at Bou Jabeur Gite de l’Est in Tunisia ‘confirms the presence of high-grade lead/zinc mineralisation’.
AIM-quoted Maghreb, whose shares have slumped since broker Hanson Westhouse floated the company in 2004, reports that assay results from its latest drilling programme show a ‘significant thickness of lead and zinc’ and the presence of ‘zones of high-grade zinc mineralisation’ at Bou Jabeur Gite de l’Est. One hole, MBJ 4, assayed over a 67-metre interval, returned 40.65 metres at 6.48 per cent zinc and 1.83 per cent lead.
Executive chairman Gordon Riddler says the company expects to be able to prepare a resource statement compliant with industry standards ‘in the near term, quickly followed by a pre-feasibility study’. At 6.75p, the shares are up a modest 0.38p to 6.75p, but are still well below their 15p float price.
Gamblers only.
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