Interim Results from Maghreb Minerals carried little in the way of financial highlights, not uncommon for a junior mineral exploration outfit. The Company did however confirm that it believed its best chance of finding a economically viable mineral deposit was in Tunisia. Maghreb recently received confirmation for the transfer of its 90% interest the Bou Jabeur Exploration permit where the Company has already defined an inferred mineral resource for the Gite de L'Est prospect of 8.8 million tonnes with a combined grade of 3.16% of lead and zinc using a 1% cut-off. Maghreb also reminded investors that as of 31 December 2007 it still had some £2.2 million in cash and cash equivalents.
Gordon Riddler, Executive Chairman, said:
"Maghreb is continuing to consolidate its exploration portfolio. Encouraging results from the completed work programme during this reporting period and the transfer of the 90% interest in Bou Jabeur have made a significant contribution to the Company's goal of establishing an economically mineable resource in Tunisia. Going forward, priority will be given to drilling and updating the resource statement for Bou Jabeur."