...its Mineral Resource Estimate for the Zgounder Silver Mine, Kingdom of Morocco
MONTREAL, QUEBEC--(Marketwired - Jan. 8, 2018) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to announce an updated Mineral Resource Estimate for its Zgounder Silver Mine Property.
Note: Mineral resources are not mineral reserves and do not have demonstrated economic viability, rounded numbers. However, the reported mineral resources are considered by the qualified persons to have reasonable prospects for economic extraction as per CIM 2014 definitions.
"This mineral resource update shows Zgounder has a significant amount of silver metal left as demonstrated by our exploration efforts, with 29 diamond drill holes totalling 7121 meters . The work that has been done validates our belief that Zgounder is a virgin silver deposit. We have without a doubt increased the mineralized area with resource potential that may be conducive to open pit mining. This is just the beginning, as the company continues its exploration drilling program in 2018 with underground drilling, surface reverse circulation drilling with continuous diamond drilling program ", said Noureddine Mokaddem, President and CEO of Maya Gold & Silver.
The chart below details the mineral resources pit constrained plus underground resources (rounded numbers) :
|Total resources Zgounder silver mine||Ag||Tonnes||Ounces|
|Measured||338||242 000||2 633 000|
|Indicated||308||748 000||7 395 000|
|Indicated+Measured||315||990 000||10 028 000|
|Inferred||256||3 437 000||28 338 000|
The following chart details the pit-constrained resources alone:
|Cut-off grade of 61,89 g/t Ag|
|Measured||315||208 000||2 108 000|
|Indicated||293||616 000||5 794 000|
|Indicated+Measured||298||824 000||7 902 000|
|Inferred||248||1 886 000||15 012 000|
The following chart details the underground resources alone:
|Cut-off grade of 125 g/t Ag|
|Underground Resource Class||Ag||Tonnes||Ounces|
|Measured||482||34 000||527 000|
|Indicated||377||132 000||1 601 000|
|Indicated+Measured||398||166 000||2 128 000|
|Inferred||332||1 051 000||11 209 000|
The chart below features the old tailings alone:
|Tailings 1 (old tailings)|
|Resource Class||Ag g/t||Tonnes||Ounces|
|Inferred||132||500 000||2 117 159|
Parameters for the definition of reasonable prospect of economic extraction for the pit constrained resource are below. For the underground, existing cut-off grade (COG) of 125 g/t at the mine is used.
Note to resources:
The National Instrument 43-101 Technical Report including the updated mineral resources for Zgounder Silver Mine contained in this news release will be delivered and filed on SEDAR within the next 45 days.
Quality Control / Quality Assurance (QA/QC) - Preparation
QA/QC program with independent drilling of historically identified mineralized blocks with silver analysis by Fire assay including blanks and insertion of standards in addition to field duplicates has been done and allow the disclosure of the results.
Merouane Rachidi P.Geo. and Claude Duplessis, Eng. of Goldminds Geoservices, Qualified Persons as defined by National Instrument 43-101, are responsible for the mineral estimation update of Zgounder Silver Mine and have prepared and approved the technical information contained in this news release.
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%).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.