RNS Number : 8396W
Maghreb Minerals PLC
17 June 2008
MAGHREB MINERALS PLC
MINING AND METALLURGY SCOPING STUDIES COMMISSIONED FOR
GITE DE L'EST DEPOSIT, BOU JABEUR, TUNISIA
Maghreb Minerals Plc ("Maghreb" or "the Company"), the AIM-quoted exploration company
developing base metal and industrial mineral
deposits in Tunisia, is pleased to announce that, following the encouraging results emerging
from its Phase 2 infill and step out drilling
programme, it has commissioned mining and metallurgical scoping studies to establish in more
detail the technical and economic viability of
the Bou Jabeur (Gite de l'Est) deposit in Tunisia.
* Scott Wilson Ltd has been appointed to provide services for resource database
management and estimation and to take the overall
lead for the scoping studies required to determine the economic viability of the Bou Jabeur
(Gite de l'Est) deposit based on the results to
date. This study will incorporate an updated resource estimate and is scheduled to be
completed by mid-October 2008.
* SGS Lakefield Research Europe Ltd has been appointed with immediate effect to
complete scoping flotation metallurgical testwork on
lead and zinc circuits along with Net Smelter Returns and bottom line potential revenue, for
incorporation in the overall scoping study.
Richard Collier, Chief Executive, commented: "The scoping studies are designed to give an
indication of the technical and economic
viability of the Gite de l'Est lead-zinc-barite-fluorite-silver deposit based on all available
data including the new step out drill
results. With the appointment of independent, internationally renowned consultants to carry
out the scoping studies, the Company expects to
have greater visibility in terms of resuming mining operations at Bou Jabeur."
*NOTE FOR EDITORS
The Phase 2 step out and infill drilling programme to date (MBJ11 to MBJ31 totalling
8,165m) has been completed in accordance with the
work programme outlined in June/July 2007. The results have delivered confidence in the
continuity of the Bou Jabeur (Gite de l'Est) deposit
which has been extended and is still open to depth and laterally.
A significant increase in both tonnage and grade the Bou Jabeur (Gite de l'Est) deposit
based on internal estimates, is apparent
following the updating of the block model to include Maghreb's MBJ verification drilling and
the results from the re-assaying of a
significant quantity of recently discovered Office National des Mines (O.N.M.) drill core and
pulps from previous drilling and optimisation
of the geostatistical methodology.
The core assay results from the first phase of the Maghreb drilling campaign (MBJ1 to
MBJ10 series drill holes for a total of 3,404.50m)
completed in September 2007 both confirmed and verified the previous O.N.M. drilling results,
which showed the presence of significant
thicknesses of lead and zinc mineralisation with zones of high-grade zinc mineralisation.
The Company reported in December 2007 an audited Inferred Mineral Resource estimate,
prepared in accordance with JORC (2004) reporting
standards, using only the historical O.N.M. data for Bou Jabeur (Gite de l'Est). At a 1% lead
+ zinc ("Pb+Zn") cut off grade, the resource
contains 8.836Mt grading combined 3.16% Zn and Pb: 2.17% Zn, 0.99% Pb, 5.06% CaF2 and 21.66%
BaSO4, and at a 2% Pb + Zn cut off grade, 5.172
Mt grading 4.40% combined Zn and Pb: 3.15% Zn. 1.25% Pb, 6.42% CaF2 and 27.76% BaSO4.
Based on the above estimate, the in-situ value of the mineral resource at the 1% Pb + Zn
cut off grade is estimated to exceed US$925
million at December 2007 metal prices.
ENQUIRIES:
Maghreb Minerals Plc Tel: +44 (0) 20 7556 0940
Richard Collier, Chief Executive
Hanson Westhouse Limited Tel: +44 (0) 20 7601 6100
Tim Metcalfe / Anita Ghanekar
Bankside Consultants Tel: +44 (0) 20 7367 8888
Michael Padley / Michael Spriggs
The sources of some of the information in relation to the Bou Jabeur mine were sourced
from O.N.M. The Company has not been able to
independently verify the accuracy of all of this information.
The technical content of this press release has been reviewed by the Chairman 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 the
Institute of Materials, Minerals and Mining, a
recognised professional association.
This information is provided by RNS
The company news service from the London Stock Exchange
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