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Maya Gold & Silver Starts Geophysical Survey on Permit 233263
Montreal, Quebec, August 25, 2011 – Maya Gold & Silver (TSX-V: MYA) (“MAYA” or the “Company”) ) is pleased to announce that the Company has signed a services contract with Geofisica TMC S.A. (“Geofisica”) for a deep induced polarization and magnetic surveys. The survey is planned to cover specific areas of the Permit 233263 (approximately 60 linear kilometres) following recommendations by Collison and Associates Geoscience Consulting (Collison and Associates).
The Permit 233263 is located in an important mining district in the eastern Anti-Atlas in Morocco which includes the World Class Imiter Silver Mine, the 10th largest silver mine in the world which has produced in excess of 10 million ounces of silver per year for more than a decade.
The due diligence report presented by Collison and Associates to the Development Committee of Maya on February 14, 2011 with regards to the Permit contained the following observations:
A number of clearly positive features are present on the property:
- The close proximity to a world class deposit/p>
- The variety of mineralization types found on the property
- Electric energy and manpower are available on site
- The orientations of many mineralized structures are consistent with the main Imiter structures;
- The presence of continuous and fairly wide breccias zones which point to intense hydrothermal event
- Low level of exploration
- Similar mineralized structures immediately south of IMITER Silver Mine
The surveys will greatly aid in the interpretation of the subsurface geology and may lead to the discovery of other breccias zones. The geophysical program will also aid the technical team in determining the relationship between the Pb-Zn-Ag-Au target and Precambrian sedimentary sequences.
Field crews have been mobilized to continue with field mapping and sampling programs, to be carried out simultaneously with the geophysical survey, which together will help the Company to define drill targets.
The geophysical survey program is expected to be completed within the next month. A Phase I diamond drill program on the Permit 233263 will commence once the geophysical program is complete.
To view the IP Grid of the Permit 233263 please visit the following link:
To view the photo associated with this press release, please visit the following link:
The property is underlain by Precambrian sedimentary sequences mainly sandstones and siltstones affected by a NE-SW schistosity. Pb-Zn-Ag-Au mineralization is hosted in a silicified/hematized brecciated zone that can be followed for more than 700 metres. The zone varies in width from 1-2 meter(s) locally up to 10 meters.
Michel Boily, Ph.D, P.Geo, from GEON Ltd the independent Qualified Person as defined in National Policy 43-101, and is responsible for all technical information contained in this news release.
Maya Gold & Silver Inc. is a Canadian listed mining Company focused on the exploration and development of gold and silver deposits in Morocco. The Company’s shares trade on the TSX Venture Exchange under the symbol “MYA”.
For further information on Maya visit www.mayagoldsilver.com or contact:
Maya Gold & Silver Inc.:
President & Chief Executive Officer
T: 450-435-0700 ext. 204
Neither the 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.
Except for statements of historical fact, all statements in this news release, including without limitation, new project acquisitions, future plans and objectives, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, actual results and future events could differ materially from those anticipated in such statements.