July 19, 2017
Maya Intersects 907 g/t Ag over 3.6 Metres at Zgounder
MONTREAL, QUEBEC–(Marketwired – July 19, 2017) – Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSX VENTURE:MYA) is pleased to announce the just received and compiled adjacent intersections to the highest intersection ever drilled by Maya since it took 85% ownership of the Zgounder property in Morocco.
Hole 2000-T28-17-120 drilled to the North West has intersected 907 g/t Ag over 3.6m including 1431 g/t Ag over 1.2m and appears to be part of an individual structure in Panel 8.
Hole 2000-T28-17-125 drilled North East has intersected high grade mineralization of 523 g/t Ag over 1.2m about 2.5m north of the drillhole 2000-T28-17-124 who has intersected 3809 g/t Ag over 18 metres from 3.6 to 21.6 metres with higher grade intervals including 9430 g/t over 7.2m from 4.8 to 12m and including 51.6 Kg/t Ag (51630 g/t or 5.16% or 1660 Oz/t Ag) over 1.2 metres at 6m. The hole 125 intersect 195 g/t Ag over 10.8m with higher grade intervals including 355 g/t over 3.6m including 537 g/t over 1.2m.
Moreover, the independent laboratory Analyse Development Minier S.A.R.L. based in Marrakech supports the disclosure with respectively 5.61%/t and 5.43%/t Silver on witness pulp as per report received on the 17th of July.
In the same sector holes 2000-T28-17-119, 120,121 and 122 did not intersect high grades silver. It is our understanding that hole 2000-T28-17-124 has intersected a junction of mineralized structures as shown on the attached map. An East-West with a North-South and a flat structure.
We still cannot pinpoint the exact size of the Jewelry of the 51.6 kg/t Ag (independent 5.5% Ag/t) as we need to drill an additional hole to the East. In precious metal mines, there are high grade zones which are considered jewelries as they are so rich they require special attention and care in their mining and processing. These zones are usually less affected by the commodity price and assist in supporting the mine’s economic.
Uncut Ag results. Length are drill length, additional drilling is required to define the exact geometry of this irregular shape of high-grade, true widths are believed to be 70 to 95% of the length intersections. These percussion drillholes are collared in a manway at elevation 2016mZ in the north sector within Panel 8. The attached map shows the percussion holes and the drift perimetres at the 2000 level in black and mineralization outline in red and green. It is important to mention that 60metres of virgin ground exist above these intersections prior to contact with surface and zone is open at depth.
Plan view of the plan with the percussion holes in the chimney (manway- yellow circle Ag grades color coded with drill hole trace) (Click here to view the plan)
Other results have been received from laboratory, once compiled and validated they will be disclosed.
“Our technical team is working hard in development and exploration at Zgounder. These are very motivating intersections at the 2000 level and we are proud of our findings, it shows intersection of structure delivers positive surprises” said Mohamed Assalmi, Chief Geologist at Zgounder.
Quality Control / Quality Assurance (QA/QC)
The results include blanks and standards as normal control procedures at the mine. The mine laboratory has also carried out duplicates to confirm repeatability of results. The results are considered to be reliable for disclosure as laboratory procedures and QA/QC were reviewed in previous assignment by independent QP. Assays are not capped; Ag by AA intersected disclosures are variable according to the Cut Off Grade applied for large scale mining or selective mining scenario.
The technical content of this news release has been prepared and reviewed on the basis of information received from the ZMSM as well as personally collected during site visits by Claude Duplessis Eng. Geological Engineer from GoldMinds Geoservices Inc, independent Qualified Person under NI 43-101 standards.
Maya Gold & Silver Inc. is a Canadian publicly listed mining corporation focused on the exploration and development of gold and silver deposits in Morocco. Maya is initiating mining and milling operations at its Zgounder Mine owned by ZMSM, a Maya 85% owned joint venture with l’Office National des Hydrocarbures et des Mines of the Kingdom of Morocco (15%).
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This news release contains statements about our future business and planned activities. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, and believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
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