Maya Announces 2020 Zgounder Silver Mine Exploration Program
July 14 2020 - 6:00AM
Maya Gold & Silver Inc. (“Maya” or the “Company”) (TSX:
MYA) is pleased to announce the start of the first phase of the
Zgounder Silver Mine exploration program.
The Board of Directors of the Company recently approved a
combined exploration and development program, which will include
both Diamond Drilling (“DDH”) and Reverse Circulation Drilling
(”RC”). The objective is to deliver value to shareholders through
the drill bit and to build on the previous high-grade drill results
reported on May 11th, 2020
(https://mayagoldsilver.com/press-release/maya-intersects-929-g-t-ag-over-5m-near-surface-at-its-zgounder-mine-east-zone/),
which included intersections at surface of 5 meters at 929 g/t Ag,
5 meters at 592 g/t Ag, 8 meters at 339 g/t Ag and 3.5 meters at
614 g/t Ag.
An initial 10,000 meters is immediately planned with an
additional 5,000 meters before year end. This compares with only
5,385 meters drilled at the Zgounder Silver Mine in 2019. The goal
is to increase and further define resources from the east zone of
the deposit, as well as to confirm and define the continuous
mineralisation at deeper levels from the current underground
mine.
The detailed target zones and drilling programs are still being
reviewed by the Company as it mobilises to start drilling. “We are
excited about the exploration program and we are confident in the
potential for additional high-grade results” commented Benoit La
Salle, CEO of Maya, “It will give us better visibility of the
extension of the deposit and is the first step to unlocking
significant value for shareholders.”
Qualified Persons
The technical content of this news release has been reviewed by
Merouane Rachidi, P.Geo., Ph.D. and Claude Duplessis Eng., from
GoldMinds Geoservices Inc, independent Qualified Persons under
NI 43-101 standards, based on the information’s received from
Maya Gold & Silver technical team (Zgounder Millennium Silver
Mine subsidiary).
About Maya Gold & Silver Inc.
Maya Gold & Silver Inc. is a publicly traded Canadian
company focused on the operation, exploration, acquisition and
development of silver and gold deposits. Maya is currently
operating mining and milling facilities at its Zgounder Silver
Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and
the Office National des Hydrocarbures et des Mines (“ONHYM”)
of the Kingdom of Morocco.
Its mining portfolio also includes the Boumadine polymetallic
deposit located in the Anti-Atlas Mountains of Eastern Morocco
which is also a joint venture with ONHYM wherein Maya retains an
85% ownership. Additionally, the Corporation’s portfolio includes
the Amizmiz and Azegour properties, both being 100% owned, with
gold, tungsten, molybdenum and copper occurrences covering over 100
square kilometres in a historical mining district of Morocco.
For additional information, please visit Maya’s website at
www.mayagoldsilver.com
Or contact:
Benoit La Salle, FCPA FCA President & CEO Tel:
+1 (514) 951-4411 blasalle@mayagoldsilver.com |
Alex Ball VP, Corporate Development & IR Tel: +1
(647) 919-2227 aball@mayagoldsilver.com |
Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as “will”, “continue”, “provide”,
“present”, “reasonable”, “established”, “has”, “demonstrate”,
“potential”, or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would" or
"might". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Corporation to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of
write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits
including the accuracy of the current mineral reserve and mineral
resource estimates of the Corporation (including, but not limited
to, ore tonnage and ore grade estimates) and mine plans for the
Corporation’s mining operations (including, but not limited to,
throughput and recoveries being affected by metallurgical
characteristics); (v) the risk associated with establishing title
to mineral properties and assets including permitting, development,
operations and production from the Corporation’s operations being
consistent with expectations and projections; (vi) fluctuations in
commodity prices and other risks and factors described or referred
to in the section entitled "Risk Factors" in the MD&A of the
Corporation and which is available at www.sedar.com, all of which
should be reviewed in conjunction with the information found in
this news release
Although the Corporation has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Such
forward-looking information has been provided for the purpose of
assisting investors in understanding the Corporation's business,
operations and exploration plans and may not be appropriate for
other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and the
Corporation does not undertake to update such forward-looking
information except in accordance with applicable securities
laws.
Alex Ball
Maya Gold & Silver
1 (647) 919-2227
aball@mayagoldsilver.com