Shares in Maghreb Minerals (AIM:MMS) moved ahead this morning, after the base and industrial metal exploration company focused on Northern Africa announced assay results from recent drilling. The highlight of the drill results was MBJ6 at the Bou Jabeur Gite de L'est deposit which returned high grade zinc (7.47%) mineralisation over 42 metres.
Maghreb had already identified high grade barite and fluorite mineralisation in earlier drill holes, and said the results confirmed that the barite-fluorite intervals are associated with high grade lead-zinc assays. Maghreb's drilling program was designed to verify past drilling results conducted by the previous owners of the project. Bou Jabeur Gite de L'est has a non-JORC compliant historical resource estimate of 5.8 million tonnes grading 3.6% zinc, 1.5% lead, 33.8% barite and 9.3% fluorite.
"The excellent zinc results from MBJ6, together with supporting strong barite values associated with the high-grade zinc mineralisation intersected in MBJ1 to MBJ5 provide encouragement to our expectations of establishing a significant zinc resource and substantial mining operation at Bou Jabeur - Gite de l'Est" commented Maghreb Minerals CEO, Gordon Riddler.
Shares in Maghreb Minerals were up 10% to 7.25 pence.