Maya Gold & Silver Inc.
TSX VENTURE : MYA

Maya Gold & Silver Inc.

June 21, 2017 09:55 ET

Maya Gold & Silver Has Extended a New Zone to the East by Diamond Drill Hole Supported by Independent Assay of 337 g/t Ag at Zgounder Silver Mine

BLAINVILLE, QUEBEC--(Marketwired - June 21, 2017) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to announce results supported by QP independent sampling of 3 samples of entire 1m length witness core report silver with grades of 53, 111 and 337 g/t Ag. This shows the discovery of an extension of a new zone to the East. The above numbers are an average of 3 individual 15 grams Fire assay from Fan diamond drill hole ZG-EXT6-17-S2 & S4. For the Eastern portion of property, a decision has been made to analyse the mineralized zones log as mineralized by Fire assay while the remaining will use the existing mine laboratory procedure. Moreover, additional preparation equipment is scheduled to be put in place next week including a new crusher and grinder to increase the performance. Additional information will be provided once received, validated, and compiled.

The Corporation has also received results supported by independent analysis facities in Canada at Bourlamaque Laboratory in Val d'Or Quebec of the 2100-T28-17-64 from 10 of the 11 samples which runs 2.63 Kg/t Ag over 12m by Fire Assay (previously disclosed 2.3 Kg/t Ag on 13.2m runs 2.6 Kg/t Ag over 10m).

From (m) To (m) Length (m) Ag (g/t) Ag (g/t)
duplicate
Ag (g/t)
Fire Assay
Canada
0 1.2 1.2 3557 3669 4501
1.2 2.4 1.2 4237 4190 3580
2.4 3.6 1.2 5361 5455 4528
3.6 4.8 1.2 1100 1089 1260
4.8 6 1.2 3174 3200 3671
6 7.2 1.2 5710 5680 5497
7.2 8.4 1.2 950 1001 1204
8.4 9.6 1.2 1136 1188 1199
9.6 10.8 1.2 469 445 571
10.8 12 1.2 285 298 280
12 13.2 1.2 155 158

The hole was drilled on 2106 elevation at 200 degrees north with 17 degrees up direction. The true length is 13.2m length. The mineralized zone is of irregular shape and is sub-vertical.

The gold focused percussion drilling structure test program into a gold anomaly zone at the 2100 level has not shown evidence of gold economic grades by Fire assay. Additional investigation of the analysed gold structure is required and will be pursued at a later date. However, the GoldMinds QP hammered 3 separate composite face sample in that new zone and has analysed them as well for silver and the 3 composites returned: 6, 1370 and 5223 g/t Ag also the adjacent percussion hole assayed on site and also in Canada shows extension of that new zone where has intersected 24 meters at 61 g/t Ag including 16.8m at 80 g/t Ag or 3.6m at 281 g/t Ag and is believed to be near the true thickness of the mineralized zone.

2100-T28-17-01 Fire Assay
Bourlamaque
From (m) To (m) Length (m) Ag (g/t) Ag (g/t)
0 1.2 1.2 7 5
1.2 2.4 1.2 5 5
2.4 3.6 1.2 6 4
3.6 4.8 1.2 7 97
4.8 6 1.2 19 17
6 7.2 1.2 14 14
7.2 8.4 1.2 10 9
8.4 9.6 1.2 15 9
9.6 10.8 1.2 8 7
10.8 12 1.2 8 4
12 13.2 1.2 9 6
13.2 14.4 1.2 16 14
14.4 15.6 1.2 38 22
15.6 16.8 1.2 262 230
16.8 18 1.2 470 417
18 19.2 1.2 186 196
19.2 20.4 1.2 43 77
20.4 21.6 1.2 33 36
21.6 22.8 1.2 21 38
22.8 24 1.2 22 27

The hole is drilled at 226North with 17 degrees up dip from the side of the drift, adjacent to the chip samples taken during site visit. Furthermore, on the other side of the drift the percussion hole 2100-T28-17-6 has intersected 20.4m at 969 g/t Ag, including 7.2m at 2.7Kg/t Ag or 3.95 Kg/t Ag over 3.6meters. This hole is drilled at 30 degrees North up dip of 18 degrees over 20.4m.

Highlights of the compilation of percussion holes from May & June 2017 will be provided in July after verification and interpretation.

"In conclusion the confirmation of a new zone to the East, open the sector for additional drilling to develop a mineral resource once analytical results are all received as actually, drilling has been suspended on that new zone and extension. Also, the independent sampling and analysis at Bourlamaque Laboratory in Val d'Or Canada clearly shows laboratory results at the Zgounder laboratory facilities are still reliable and reproducible in the main portion of the mine extension while the new zone in the Eastern portion requires analysis by Fire assay due to the presence of Native silver in fractures which gets coated by silver Hydroxide while attacked by Chloridric acid" said Claude Duplessis P.Eng., Independent QP for Maya.

Click here to view the picture of native silver in Core S2

Quality Control / Quality Assurance (QA/QC)

For the results includes blanks and standards as normal control procedures. External independent samples have been taken as part of the new program for the mineral resource update of 2017. The results are considered to be reliable for disclosure as laboratory procedures and QA/QC was reviewed in previous assignment. Assay are not capped, Ag by AA and by 15 grams Fire assay with gravimetric finish, thickness intersected are variable according to the Cut Off Grade applied for large scale mining or selective mining scenario.

Qualified Persons

The technical content of this news release has been prepared and reviewed based on the information's received from the ZMSM as well as personally collected during site visit by Claude Duplessis Eng. Geological Engineer from GoldMinds Geoservices Inc, independent Qualified Person under NI 43-101 standards.

ABOUT MAYA

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.

Forward-looking statements

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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