Maya Gold & Silver Inc.

Maya Gold & Silver Inc.

October 19, 2016 09:05 ET

Zgounder Silver Mine Poured 43,725 ounces (1360 Kg) of Silver Ingots in September

BLAINVILLE, QUEBEC--(Marketwired - Oct. 19, 2016) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to report a production of 43,725 ounces of silver (1360Kg) during the month of September 2016 at its Zgounder silver mine in Morocco.

September 2016 Operations Highlights

  • 43,725 ounces (1360 Kg) of silver ingots were produced from 4961 tonnes of treated dry material presenting an average head grade of 331 g/t Ag;
  • A total recovery rate of 82.9% was achieved representing a slight increase compared to the previous month;
  • Enhanced development, exploration and mining of the Panel 8 are pursued.
  • Preparation and development by the cut and fill stopping method on Panel 9 continue.

Principal location and level of the extraction zones during the month of September.

Underground working Level Tonnage
Average grade
Ag (g/t)*
Panel 19 2000 1560 459
North Sector 2000 416 230
Corps C 2000 120 381
Corps A 2000 1328 396
2Y 2100 536 197
Corps D 2000 16 75
Total 3,976 374.7
*Total Ag weighted average

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.


Maya Gold & Silver Inc. is a Canadian 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. Zgounder Millenium Silver Mining ("ZMSM"), the 85% owned joint venture with l'Office National des Hydrocarbures et des Mines ("ONHYM") of the Kingdom of Morocco (15%).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward looking information

Zgounder Silver Mine

The decision to commence production at the Zgounder Silver Mine was not based on a feasibility study of mineral reserves demonstrating economic and technical viability, but rather on a pre-feasibility study. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with this production decision. Production and economic variables may vary considerably, due to the absence of a complete and detailed site analysis according to and in accordance with NI 43-101.

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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