Update on the improvement of the mill installations
Blainville, Québec – May 13, 2016 – Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSXV: MYA) is pleased to report a production of 38,902 ounces of silver (1210 Kg) during the month of April 2016 at its Zgounder silver mine in Morocco.
April 2016 Operations Highlights
– 38,902 ounces (1210 Kg) of silver ingots were produced from a total 3,970 tonnes of dry ore material presenting an average head grade of 388 g/t Ag. The production took place during a 23-day period; the shaft of the primary crusher being broken and replaced during the first week of April;
– A recovery rate of 78.75% was achieved;
– Upgrading of the mill installations continues, resulting in a substantial reduction of cyanide consumption;
– Pilot testing using a flotation process generates a total silver recovery of 84%
– Maya has launched a project to improve the mill efficiency by the introduction of flotation cells;
– Discovery of 2.5-m thick Cu-Au-Ag-rich fractures and veins at level 2100, yielding Au and Ag assay values of 5.51-8.57 g/t (Av : 6.85 g/t) and 164-2658 g/t (Av : 1261.5 g/t), respectively.
Access to the underground workings keeps increasing with the ore extraction reaching 4,568 tonnes for April. Four panels located at levels 2000 and 2100 continued to be developed concurrently by drifting.
Location and sources of the ore extraction zones during April.
*Total Ag weighted average
Discovery of Cu-Au-Ag-rich veins at the 2100 level
Recent mapping of the 2100 level gallery unearthed a new type of Cu-Au-Ag mineralization in a network of fractures comprised within a NNW-SSE-oriented deformation corridor affecting metamorphosed sandstones. The 2.5-4 m-wide zone filled by cm- thick mineralized quartz veins and fractures contains chalcopyrite, pyrite, covellite, galena, malachite, native silver and display Au, Ag and Cu concentrations of 5.51-8.57 g/t, 154-2658 g/t and 0.05-1.77 wt. %, respectively. The high assay values and presence of phyllic and supergene alterations justify more thorough investigations of this new type of mineralization at Zgounder.
Rock samples were collected from the mineralized corridor via systematic panel sampling. Samples were prepared and assayed at the Zgounder analytical facilities. Concentrations reported above were determined via standard fire assay-AA method with gravimetric finish for Au and by AA for the Ag and Cu contents.
Flotation Cells / Update on the improvements at the mill installations
Zgounder Millenium Silver Mining S.A. has empowered Yantai Xinhai Mining Research & Design Co. Ltd. (hereafter named “Xinhai”) to conduct metallurgical testing on silver ore samples .The objective of the testing was to provide an optimal technological process and reach the best possible process index for the beneficiation and future production of silver.
Test ore samples weighing 100kg were collected by Zgounder Millenium geologists from mineralized zones within the Zgounder mine. The samples were put in a bucket, sealed and shipped to Xinhai. The total material (hereafter named raw ore) was then processed through crushing, mixing and splitting. Silver became the only economic element during recovery and can be recycled.
The obtained silver grade during testing was 317 g/t Ag. Metal-bearing minerals include in part native silver, pyrite, limonite with the gangue minerals including quartz, feldspar, clay minerals, etc.
During metallurgical testing by Xinhai, It was determined the optimal retrieval process for silver used concentration by gravity followed by flotation. After grinding the raw ore and subsequent gravity concentration, the gravity concentrate yielded 0.34%, generated a silver grade of 17576.8 g/t and a 19.10% recovery rate. After processing the raw ore once for roughing, twice for scavenging and three times for gravity concentration, the tailings obtained by gravity concentration provided a yield of 5.12%, a silver grade of 3942.4 g/t and a 64.85 % recovery. The total silver recovery is 83.95%.
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.
Maya Gold & Silver Inc. is a Canadian 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. Zgounder Millenium Silver Mining (“ZMSM”), the 85% owned joint venture with l’Office National des Hydrocarbures et des Mines (“ONHYM”) of the Kingdom of Morocco (15%)
For further information on Maya, visit www.mayagoldsilver.com or contact:
Maya Gold & Silver Inc.:
Chief Executive Officer
T: 450-435-0700 ext. 204
T: 450-435-0700 ext. 202
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Forward looking information
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.
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.