Maya Gold & Silver Inc. announced the filling on SEDAR of an amended Preliminary Economic Assessment (PEA) technical report dated March 16th, 2018.
Maya Gold & Silver Inc. (TSXV:MYA) announced the filling on SEDAR of an amended Preliminary Economic Assessment (PEA) technical report dated March 16th, 2018, in compliance with National Instrument 43-101 (NI 43-101).
As quoted in the press release:
The amended technical report has been prepared to correct deficiencies, identified by the Autorité des Marchés Financiers (“AMF”) on March 2nd, 2018, in the technical report dated February 22nd, 2018 in relation to paragraph 2.3.3)c) of the National Instrument 43-101.
The amended technical report completes the information relative to the existing reserves versus the mineral resources of the PEA.
A pre-feasibility study with 200 t/d processing rate was prepared in 2014 and the results were announced in the press release of May 22nd2014. The PFS highlighted 573,000 tonnes Proven & Probable reserves at 317.3 g/t Ag for 5,845,000 ounces of silver and was expected to last 6 years.
Out of the mineral reserves identified in 2014, 76,154 tonnes at 381 g/t Ag for 932,902 ounces of silver in the measured and indicated resources have been taken out. The remaining proven & probable reserves are: 493 582 tonnes at 311 g/t for 4,936,797 ounces of silver (resources: 462,589 tonnes at 337g/t for 5,015,118 ounces of silver) and current mineral reserves could sustain 4.8 years at 200 t/d or could sustain 2 years at a milling rate of 500 t/d.
These mineral reserves are included in the mineral resources statement within this PEA 2018 report and the Press Release of February 5th and 22nd 2018, i.e. they are included in the PEA 2018 resources and do not add to it, they are inclusive.
The additional silver mined out up to December 2017 is from historical stopes broken and mineralized materials, which were not taken into account in the mineral resources and reserves of 2014. The company has planned an updated PFS by the end of 2018.
It is important to note that 1.23 Million Ounces of silver was extracted from other sources of the mine and only 43% of the mill feed from 2014-2017 was from the mineral reserves identified in 2014.
Modifications in the technical report are found in the Executive Summary of Chapter 1 and Chapter 15 with the remaining reserve statement and the details of additional information in Chapter 24.
Highlights of the amendment are as follows:
- The mineral resources of the PEA include the mineral resources base of the 2014 Pre-Feasibility Study (“PFS”) reserves.
- The remaining mineral reserves of the 2014 PFS are still valid.