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Underground drilling to start at Zgounder / Independent Consultant GoldMinds Geoservices brings update on NI43-101 new resources calculation
Montreal, Quebec, May 28, 2013 – Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSXV: MYA) wishes to provide a brief update on recent developments at the Zgounder Silver mine in Morocco and will commenced an extensive underground percussion drilling to validate the historical mineralized block.
In its plan for production and long term development, Maya has mandated GoldMinds Geoservices Inc. (“GMG”) to prepare independent resources calculation with preparation of a NI 43-101 technical report.
The data compilation with validation is almost completed, mineral resource blocks are being modeled and defined. As part of the GMG program for Maya, an underground survey of openings using Laser scanner of the mine has been achieved over 75% of the mine. Openings below 2000m level which is underwater were not surveyed and surveying of not accessible galleries has being slightly postponed. GMG is pleased with the 3D survey confirming that most of the historical remaining mineralized blocks verified by GMG and identified by past producer Compagnie Minière de Touissit (“CMT”) are still in place.
Maya will be undertaking an extensive underground percussion drilling program to validate mineralized blocks for the independent certification of resources by GMG. Exploration targets will also be tested from 2000 level east and at depth of identified resources.
Starting in June, GMG will be following and supervising the drilling on a full time basis, especially for the validation of mineralized blocks showing grades in the range of 500 to 600 g/t silver.
Maya expects to complete and release new resource estimates by the end of September of the current year.
The technical content of this news release has been reviewed by François Goulet, from Goulex and Claude Duplessis Eng. Geological Engineer from GMG, independent Qualified Persons under NI 43-101 standards.
ABOUT GOLDMINDS GEOSERVICES
GMG is a consulting services company based in Blainville, Quebec Canada founded by Claude Duplessis Eng. Additional information on the company is available by visiting their website at www.goldmindsgeoservices.com.
Maya Gold & Silver Inc. is a Canadian listed mining corporation focused on the exploration and development of gold and silver deposits in Morocco. The Corporation’s shares trade on the TSX Venture Exchange under the symbol “MYA”.
For further information on Maya visit www.mayagoldsilver.com or contact:
Chief Executive Officer
T: 450-435-0700 ext. 204
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This release may contain forward-looking statements including management’s assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.