Blainville, Québec- September 17, 2014 – Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSXV: MYA) announced the second silver pouring of the Zgounder Silver 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%) produced 483.92 kilos (15,434 ounces) of silver from 42 ingots grading an average of 99.6% Ag. The ingots were poured on September 10 at the Zgounder Silver Mine in Morocco.
“We remain focused on the ramping up of Zgounder, dedicated to Morocco and committed to maximize shareholders return” stated Guy Goulet, Chief Executive Officer.
– The pouring is the result of 17 days of operation with mineralized material from “ancient stockpiles” on hand and underground material;
– 2,576 tonnes were processed with an overall average grade of 230.5 g/t Ag recalculated head grade from metallurgical balance at the mill;
– Mill silver metal recovery achieved: 87%;
– Average of silver grade of the 42 ingots from the on-site laboratory is 99.6% Ag.
The technical content of this news release has been provided by Zgounder Millenium Silver Mining and has been reviewed by Claude Duplessis from Goldminds Geoservices: 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.
For further information on Maya, visit www.maya.dev.penega.com or contact:
Maya Gold & Silver Inc.:
Chief Executive Officer
T: 450-435-0700 ext. 204
T: 450-435-0700 ext. 202
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.
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.