Mining in Sustainability MAYA GOLD & SILVER REPORTS RESULTS OF SURFACE AND UNDERGROUND SAMPLING AT AZEGOUR PROPERTY
PRESS RELEASE
Mining in Sustainability
MAYA GOLD & SILVER REPORTS RESULTS OF SURFACE AND UNDERGROUND SAMPLING
AT AZEGOUR PROPERTY
July 2, 2019 (Montréal, Québec) Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSX: MYA) is
pleased to inform its shareholders on the results f rom surface and underground sampling at Azegour
property.
Maya’s geological team accompanied by independent c onsultant GoldMinds conducted an exploration
program at Azegour. A total of 30 samples have been collected from the surface and accessible underground
drifts and sent to Afrilab laboratory at Marrakech (Morocco) for assaying.
The assay results show a high content of cupper ove r 1.3% in five samples with a maximum of 13.75% fro m
sample taken at level 1488. Two samples taken from two different drifts show more than 2.5% Zn with a
maximum of 3.64%. For the germanium five samples sh ow more than 20 ppm Ge with a maximum of 118
ppm Ge at level GR1390. Three samples give more than 5000 ppm of W with a maximum of 1.07% W.
The table below show the highlights of the assay results:
Samples Localisation Au g/t Ag g/t Cu % Zn (%) W ( ppm) Ge (ppm) Mo (%)
3319 Level 1488 <0,05 67 13,75 0,77 109 <15 <0,01
3338 Level 1488 <0,05 8 6,95 0,05 255 <15 <0,01
3346 gal D <0,05 18 5,17 0,18 162 15,00 <0,01
3331 GR1390 <0,05 46 1,49 3,64 439 <15 0,31
3315 gal Izarifen <0,05 7 0,20 2,75 513 15,00 0,90
3320 niv 1488 <0,05 12 1,36 0,04 337 <15 <0,01
3332 GR1390 <0,05 8 0,90 0,11 131 20,00 0,04
3330 GR1390 <0,05 1 0,01 0,02 55 26,00 1,67
3333 GR1390 <0,05 1 0,01 0,03 84 118,00 7,33
3313 gal Izarifen <0,05 7 0,01 0,02 < 30 45,00 2,28
3314 gal Izarifen <0,05 7 0,01 0,02 < 30 33,00 2,34
3317 Level 1488 <0,05 12 0,01 0,02 10 743 <15 0,05
3316 Level 1488 <0,05 12 0,01 0,04 50 64,00 2,27
3326 SS3 <0,05 1 0,79 0,95 6 093 20,00 <0,01
3336 GR1390 <0,05 1 0,01 0,02 8 219 15,00 0,26
3342 BWP1 <0,05 1 0,03 0,28 228 <15 <0,01
At this stage of work, the grab samples does not al low identification of mineralisation true width, ad ditional
work is required to assess the extent.
Maya is starting a detailed exploration program in the different accessible levels including detailed mapping
of the mineralized structures, channel sampling and a systematic sampling of the mineralized structures. This
work will allow targets identification. Those targe ts will be drilled first from the drifts using T23/ T28
percussion hammers. The overall results will enable the initiation of the first surface diamond drilli ng
program to validate the mineralized panels and also to test new zones outside the historical resources.
Maya will start in the coming days the realization of a detailed topographic survey (digital elevation model)
of the property using the drone. Maya is also negot iating with a consultant for the use of an appropri ate
geophysical method to Azegour property.
Noureddine Mokaddem Founder, Chairman and CEO comme nt: « The positive results of our first exploration
program show the potential of Azegour property that will add value to the company. Ongoing geological
mapping is increasing our confidence level on the deposit and will inform the plan of the upcoming first phase
drilling program, which is planned to start shortly ».
The distribution of samples showing Cu (%) and Ag (ppm) at Azegour property.
The distribution of samples showing Mo (%) and W (ppm) at Azegour property.
The distribution of samples showing Zn (%) and Ge (ppm), Azegour property.
Qualified Persons
The technical content of this news release has been reviewed by Merouane Rachidi Ph.D., P.Geo., and Claude
Duplessis Eng., from GoldMinds Geoservices Inc. independent Qualified Persons under NI 43-101 standards.
About Azegour
The Azegour property is located in the Tizguine-Amizmiz-Azegour area, High Atlas Occidental, Province of
Marrakech, Kingdom of Morocco. The property is situated 54 km NNE from the town of Marrakech and 7.2 km
WSW from the town of Amizmiz. The Exploitation Licence (PE 183208) covers an area of 16 km2 (4 km x 4 km)
(Figure 1). The center of the property is situated at 8° 18’ 14” West Longitude and 31° 09’ 33” North Latitude,
or at coordinates: Easting= 222924, Northing= 66813 (North Morocco, Merchich) reaching an elevation of
1597 m ASL. The boundary stone (Point de Pivot) for permit no. PE 183208 is established at coordinates
Easting= 221291 and Northing= 71511 (North Morocco, Merchich). The Exploitation Permit entitles the holder
to work the deposit and dispose of the substances, herein Mo, W, Cu, Pb and Zn and provides legal access to
the property. It is valid for a period of four years and was renewed on July 2015 until July 16, 2019; further
renewal is underway.
Under the terms of an agreement dated March 2, 2011 between Maya Gold and Silver Inc. and Ouiselsat
Mines, Maya acquired 100% interest of the Exploitation Permit 183208 and all the outstanding data for a total
consideration of 20 million Dirhams (approximately $2.5 million) and the issuance of 500,000 common shares
of the Company in favor of Ouiselsat. The Seller retains a 2.5% royalty on sales of metal. The share issuances
and payments were completed during one year following the acquisition.
Historical production
From 1926 to 1956, the Azegour mine yielded 1,331 t of (MoS2), 5,646 t of chalcopyrite (CuFeS2), 27 t of
scheelite (CaWO4) and 1.55 t of U3O8*.
In 1984, an historical resource* was established at 1M t @ 0.34 to 0.40 wt. % MoS2, 100,000 t @ 1.90 wt. %
Cu and 2M t at 0.40 to 0.35 wt. % WO3*. (Lehmann, 1979; Japan International Agency Company, 1984).
*The estimates presented above are treated as historic information and have not been verified or relied upon
for economic evaluation by the Issuer or the writer. These historical mineral resources do not refer to any
category of the NI-43-101 Instrument. The explanation lies in the inability by the author to verify the data. The
Issuer has not done sufficient work yet to classify the historical estimates as current mineral resources or
mineral reserves. Therefore, the Issuer is in the opinion that the above quoted resources for the Azegour
deposit cannot be relied upon.
ABOUT MAYA
Maya Gold & Silver Inc. is a publicly traded Canadi an company focused on the operation, exploration an d
development of gold and silver deposits in Morocco. Maya is currently operating mining and milling operations
at its Zgounder Mine, an 85%-15% split ownership bet ween its subsidiary, ZMSM, and the ONHYM of the
Kingdom of Morocco.
Its portfolio also considers the Boumadine polymeta llic deposit located in the Anti-Atlas Mountains of Eastern
Morocco. The property is also a joint venture with ONHYM, whereby Maya retains an 85% ownership.
The Maya portfolio also includes the Amizmiz and Az egour properties, both being 100% owned, with gold,
tungsten, molybdenum and copper deposits covering over 100 square kilometres in a historical mining district
Forward-looking statements
This news release contains statements about future events or future performance and reflects managemen t’s
current expectations and assumptions. These are "fo rward-looking" because we have used what we know an d
expect today to make a statement about the future. Forward-looking statements usually include words su ch 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 substa ntially
different because of the risks and uncertainties as sociated with our business or events that happen af ter the
date of this news release. You should not place und ue reliance on forward-looking statements. As a gen eral
policy, we do not update forward-looking statements except as required by securities laws and regulati ons. All
of the forward-looking statements made in this pres s release are qualified by these cautionary stateme nts and
by those made in the Corporation’s filings with SEDAR.
On behalf of the Board:
Noureddine Mokaddem
Founder, Chairman & CEO
www.mayagoldsiver.com