Montreal, Québec -- (
Marketwire - Oct. 13, 2010) -
Maya Gold & Silver Inc. ("Maya" or the "Company") (TSX VENTURE: MYA) provides an update on a diamond drilling on its Amizmiz property located in Morroco.
On July 27, 2010, Maya announced gold results from diamond drilling on its Amizmiz property in Morocco. 7.05 g/t gold over 8.0 metres was intersected within a 20-metre wide zone averaging 3.02 g/t Au in diamond drill hole A3.
While waiting for A3 analysis results and in conformity with the scheduled drilling campaign, the Company has drilled A4 to A8 holes in the AZ structures in order to confirm continuity at depth and perform a preliminary resources calculation. Pre-production is anticipated on these structures. The Company will soon inform the shareholders in regards of further developments on the subject.
Subsequently following the A3 discovery and waiting for specific drilling equipments, A9 and A10 were drilled on an induced polarization anomaly parallel to the Tiqlit one. These holes were collared 400 metres from A3 and returned only sporadic low values in gold. Successively A11, A12 and A13, totalling 507 metres were drilled in the vicinity of A3. Anomalous gold values were returned throughout the entire holes' length of drill holes A12 and 13. The anomalous zone is characterized by a pyrite-pyrrhotite grey to black shale rocks that yield values of 0.05 to 12.5 g/t of gold over a collective surface of 45 hectares. Specific characteristics of these holes are summarized in the table below:
Hole No Grade
(g/t Au) Length
(m)
A-11 0.05 22.00
0.08 55.00
A-12 0.05 116.00
A-13 0.07 107.00
The exploration implication is that the drill holes may be near a deep Carlin type gold deposit or an intrusion-related gold deposit. Sediment-hosted gold deposits of similar type as Kinross' Paracatu mine in Brazil (reserve of 1,430 million tons grading 0.40 g/t Au for 18 million ounces of gold) or the Russian Sukhoi Log deposit, containing total unclassified resources of approximately 48 million ounces gold grading 2 g/t Au. The Company will resume with additional drilling to test below this zone and nearby for higher gold grades but will first make a pause following completion of hole A-16, time to compile large amounts of data collected as of today.
Samples were prepared and assayed at Laboratoire Reminex (ISO 9000) at Guemassa and check assays were performed at Laboratoire ONHYM, in Rabat, 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.
ABOUT MAYA
Maya Gold & Silver Inc. is a Canadian Mining Company, listed on the TSX-Venture, 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.
Forward-looking statements
This release contains forward-looking statements that are based on beliefs of its management as well as assumptions made by and information currently available to management of the Company. When used in this release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in this release. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Maya disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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.
For more information, please contact
Maya Gold & Silver Inc.
Guy Goulet
President and Chief Executive Officer
450-435-0700 ext. 204
ggoulet@mayagoldsilver.com
www.mayagoldandsilver.com
