Maya Announces 2020 Zgounder Silver Mine Exploration Program
PRESS RELEASE
Maya Announces 2020 Zgounder Silver Mine
Exploration Program
Montreal, Québec - July 14, 2020 – Maya Gold & Silver
Inc. (“Maya” or the “Company”) (TSX: MYA) is pleased
to announce the start of the first phase of the Zgounder
Silver Mine exploration program.
The Board of Directors of the Company recently approved a
combined exploration and development program, which will
include both Diamond Drilling (“DDH”) and Reverse
Circulation Drilling (”RC”). The objective is to deliver
value to shareholders through the drill bit and to build on the
previous high-grade drill results reported on May 11th
, 2020
(https://mayagoldsilver.com/press-release/maya-intersects-
929-g-t-ag-over-5m-near-surface-at-its-zgounder-mine-east-
zone/), which included intersections at surface of 5 meters at
929 g/t Ag, 5 meters at 592 g/t Ag, 8 meters at 339 g/t Ag
and 3.5 meters at 614 g/t Ag.
An initial 10,000 meters is immediately planned with an
additional 5,000 meters before year end. This compares with
only 5,385 meters drilled at the Zgounder Silver Mine in
2019. The goal is to increase and further define resources
from the east zone of the deposit, as well as to confirm and
define the continuous mineralisation at deeper levels from
the current underground mine.
The detailed target zones and drilling programs are still
being reviewed by the Company as it mobilises to start
drilling. “We are excited about the exploration program and
we are confident in the potential for additional high-grade
results” commented Benoit La Salle, CEO of Maya, “It will
give us better visibility of the extension of the deposit and is
the first step t o unlocking significant value for
shareholders.”
Qualified Persons
The technical content of this news release has been
reviewed by Merouane Rachidi, P.Geo., Ph.D. and Claude
Duplessis Eng., from GoldMinds Geoservices Inc,
independent Qualified Persons under NI 43-101 standards,
based on the information’s received from Maya Gold &
Silver technical team (Zgounder Millennium Silver Mine
subsidiary).
About Maya Gold & Silver Inc.
Maya Gold & Silver Inc. is a publicly traded Canadian
company focused on the operation, exploration, acquisition
and development of silver and gold deposits. Maya is
currently operating mining and milling facilities at its
Zgounder Silver Mine, an 85%-15% joint venture between
its subsidiary, ZMSM, and the Office National des
Hydrocarbures et des Mines (“ONHYM”) of the Kingdom
of Morocco.
Its mining portfolio also includes the Boumadine
polymetallic deposit located in the Anti-Atlas Mountains of
Eastern Morocco which is also a joint venture with
ONHYM wherein Maya retains an 85% ownership.
Additionally, the Corporation’s portfolio includes the
Amizmiz and Azegour properties, both being 100% owned,
with gold, tungsten, molybdenum and copper occurrences
covering over 100 square kilometres in a historical mining
district of Morocco.
For additional information, please visit Maya’s website at
www.mayagoldsilver.com
Or contact:
Benoit La Salle, FCPA FCA
President & CEO
Tel: +1 (514) 951-4411
Alex Ball
VP, Corporate Development & IR
Tel: +1 (647) 919-2227
Forward-Looking Statements
This press release contains "forward-looking information"
within the meaning of Canadian securities legislation. All
information contained herein that is not clearly historical in
nature may constitute forward-looking information.
Generally, such forward-looking information can be
identified by the use of forward-looking terminology such
as “will”, “continue”, “provide”, “present”, “reasonable”,
“established”, “has”, “demonstrate”, “potential”, or
variations of such words and phrases or state that certain
actions, events or results "may", "could", "would" or
"might". Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of the Corporation to be materially different
from those expressed or implied by such forward-looking
information, including but not limited to: (i) volatile stock
price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and
impairments; (iv) the risk associated with exploration,
development and operations of mineral deposits including
the accuracy of the current mineral reserve and mineral
resource estimates of the Corporation (including, but not
limited to, ore tonnage and ore grade estimates) and mine
plans for the Corporation’s mining operations (including,
but not limited to, throughput and recoveries being affected
by metallurgical characteristics); (v) the risk associated with
establishing title to mineral properties and assets including
permitting, development, operations and production from
the Corporation’s operations being consistent with
expectations and projections; (vi) fluctuations in commodity
prices and other risks and factors described or referred to in
the section entitled "Risk Factors" in the MD&A of the
Corporation and which is available at www.sedar.com, all of
which should be reviewed in conjunction with the
information found in this news release
Although the Corporation has attempted to identify
important factors that could cause actual results to differ
materially from those contained in the forward-looking
information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no
assurance that such forward-looking information will prove
to be accurate, as actual results and future events could
differ materially from those anticipated in such forward-
looking information. Such forward-looking information has
been provided for the purpose of assisting investors in
understanding the Corporation's business, operations and
exploration plans and may not be appropriate for other
purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and
the Corporation does not undertake to update such forward-
looking information except in accordance with applicable
securities laws.