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Maya to resume drilling at the Amizmiz gold project, Morocco
Montreal, Quebec, February 9, 2010 – MAYA GOLD & SILVER (TSX-V: MYA) (“Maya” or the “Company”) (TSX: MYA) provides an update on the ongoing diamond drilling program on its Amizmiz gold-silver property, Morocco.
Mr. Guy Goulet replaces Mr. Réjean Gosselin as Chief Executive Officer and Mr. Gosselin remains as Executive Chairman of the Company.
Drilling was halted on Amizmiz property for Christmas holidays. Since the first two holes addressed to intersect the northern part of the 1.4 km long TIQLIT geophysic anomaly did not reach the target due to drilling difficulties, the Company will modify its drilling approach by using HQ diameter core to start holes and will be able to telescope if necessary while getting close to the anomalous zone. Maya anticipates drilling to resume by February 17, 2010.
Hole SCAN-GE1 was drilled at an angle of 90 degrees, intriguing pyritic black shale was encountered. Scattered values in gold (2.9 g/t Au+Ag combined over 0.5m at 38.1m and 2.49 Au+Ag combined over 1.2m at 78.8m) were found in association with this black shale. A second hole SCAN-GE2 drilled at an angle of 60 degrees has been abandoned at 112m due to poor ground conditions and drilling problems. Nevertheless pyritic black shale was encountered in this hole. Preliminary results (1.4 g/t Au over 1m) had shown again an association gold and pyrite in this black shale.
The prospective structure has revealed the presence of particular mineralization of pyritic black shales. This particular pyritic black shales-hosted gold mineralization is found at the world-class Sukhoi Log deposit (Russia) where more than 50 million ounces of gold at an average grade of about 2 g/t Au have been delineated.
Management considers the TIQILT IP anomaly a prime target for a gold discovery with excellent geological formations already encountered to date and that further extensive exploration via diamond drilling is fully justified.
In January, access roads and drilling pads were completed to drill testing the “Heart” of the TIQLIT anomaly. The forthcoming drill program will consist of 35 to 40 diamond drill holes for approximately 6,000 metres.
The newly completed road access will also allow the small electric drill (multiple angle drilling) to test the western area of the TIQLIT anomaly where each hole should cut the following zones: AZS-1 (11.9 g/t Au over 1.7m followed over a length of 16m, see Maya October 7, 2009 news), AZS-2 (25.1 g/t Au over 0.87m followed over a length of 9m ), AZS-3 (8.25 g/t Au over 1.5m), AM-1 (0.93 g/t Au over 0.70m), AM-2 (2.34 g/t Au over 0.52m followed over a length of 6.0m), and AZN zone (12.3 g/t Au over 0.54m followed over a length of 16m, see Maya October 7, 2009 news).
Samples were prepared and assayed at Laboratoire Reminex (ISO 9000) at Guemassa, Morocco. All analysis reported above were obtained by standard fire assaying-AA and gravimetric finish. Systematic assaying of standards and blanks was performed for precision and accuracy.
Mr. Luc Lamarche, P. Geo, is the Company’s Qualified Person for the Amizmiz project and has reviewed the content of this release.
Maya Gold & Silver Inc. is a Canadian Mining Company, newly listed on the TSX Venture Exchange that focuses on the exploration and development of gold and silver deposits. The Company is committed to developing and adding value to its primary property, Amizmiz gold and silver project in Morocco.
For further information on Maya visit www.mayagoldsilver.com or contact:
Maya Gold & Silver Inc.:
President & Chief Executive Officer
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Except for statements of historical fact, all statements in this news release, without limitation regarding 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.