MONTREAL, QUEBEC–(Marketwired – July 14, 2017) – Maya Gold & Silver (“Maya” or the “Corporation”) (TSX VENTURE:MYA) report a monthly production of 31,942 ounces (993.5 Kg) of silver during the month of June 2017 at its Zgounder silver mine in Morocco.
June 2017 Production Highlights
- 31,942 ounces (993.5 Kg) of silver ingots were produced from 3,536 tonnes of dry material presenting an average head grade of 338.15 g/t Ag;
- A recovery rate of 83.08% was achieved representing a decrease of 4% relative to the previous month which we attribute to problems with the washing units;
- Production was affected by suspension of operations for a 10 day period during the Ramadan religious holiday and by a planned mill maintenance that will further improve its performance.
Operational Highlights
| Production information Month of June, |
% | Production information for six months ending on June 31, |
% | |||
| 2017 | 2016 | Var. | 2017 | 2016 | Var. | |
| Tonnage of dry material processed (t) | 3,536 | 5,371 | -34.16 | 27,830 | 29,148 | -4.52 |
| Average grade processed (g/t Ag) | 338.15 | 314.26 | 7.60 | 366.08 | 360.21 | 1.63 |
| Metal produced (kg) | 993.52 | 1,337.39 | -25.71 | 8,694.9 | 8,333.66 | 4.33 |
| Ounces of silver ingots produced | 31,942 | 42,998 | -25.71 | 279,548 | 267,933 | 4.34 |
| Average recovery rate (%) | 83.08 | 80.3 | 3.46 | 85.34 | 79.34 | 7.56 |
Development highlights at the Zgounder Mine
- During the month of June 2017, underground exploration and development consisted of 394 metres of percussion drilling in four mine workings.
- Underground percussion drilling within two chutes inside panels 5y et 6y allowed the definition of one panel with a tonnage of 12,170 t at an average silver grade of 426 ppm.
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.
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.
Noureddine Mokaddem
President & CEO
+1 514-978-6111/+212 661-196-111
[email protected]
Maya Gold & Silver Inc.:
Nathalie Dion
Investor Relations
514-866-2008
[email protected]
