Maya Gold & Silver Inc.
TSX VENTURE : MYA

Maya Gold & Silver Inc.

May 11, 2017 10:21 ET

Maya Gold & Silver Reports Monthly Silver Production

BLAINVILLE, QUEBEC--(Marketwired - May 11, 2017) - Maya Gold & Silver ("Maya" or the "Corporation") (TSX VENTURE:MYA) announce its production of silver for the month of April 2017 as well as an update of the mining operations at its Zgounder Millenium Silver Mine.

April 2017, Operational Highlights

Production
information
Month ended
Production information
for the four-months
ended April 30
Var.
April 30, 2017 2017 2016 %
Tonnage of dry material processed (t) 4,525 18,883 17,980 5.03
Average grade processed (g/t Ag) 350.42 373.31 394.04 -5.26
Metal produced (Kg) 1,318.09 6,021.39 5,557.11 8.35
Ounces of silver ingots produced 42,378 193,592 178,665 8.35
Average recovery rate (%) 85.41 85.41 78.45 8.87

The decrease in production compared to the previous month is explained by a scheduled maintenance shutdown of the power generators lasting a week. Several corrective and preventive measures were taken during this shutdown. The mine and mill was operating at full capacity at the end of the month and mine management is confident that production will recover production deficit during the course of next month.

Development highlights at the Zgounder Mine

During the month of April 2017, underground exploration and development consisted of 996 metres of percussion drilling in seven mine workings. Highlights of the work completed are:

  • In the Western Zone, at level 2100 (Panel 1), mineralization was discovered by percussion drilling at the intersection of EW and NS-oriented structures and near the contact of the doleritic dyke and the Neoproterozoic metasedimentary series. The mineralization consisted of disseminated sulfides (sphalerite, galena and pyrite) accompanied by native silver in fractures and quartz veinlets. Panel 5y et 6Y are located near the same level (2006 to 2106 m) and present silver mineralization in a similar structural and geological context while being strongly altered in sericite and chlorite.

  • Other percussion drill holes have confirmed the presence of silver mineralization at the 2006 level.

Furthermore, the 6,000 m surface drilling program was initiated on the eastern segment of the Zgounder mine to determine the continuity and extension of the silver mineralization discovered during the 2015 drilling program.

Qualified Persons

The technical content of this news release has been provided by Zgounder Millenium Silver Mining and has been reviewed and approved by Michel Boily, PhD, geo from GÉON; an 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 Zgounder Millenium Silver Mining, 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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