Montreal based junior, Maya Gold and Silver, which has been predominately focused on a project in Mexico in the past has ventured into Morocco. This follows its having raised capital to initiate its exploration program on the Ait Bou-Haddou property in the North African country.
Maya’s newly optioned and very promising 80 km2 Ait Bou-Haddou gold and silver property in Morocco is an addition to its Baluarte epithermal Au-Ag property in Mexico.
At the end of March this year, Maya finalised an agreement with Société d’Exploration Géologique des Métaux (SEGM), a Moroccan private company to earn a 60% interest in the Ait Bou-Haddou gold property. Maya intends to increase its interest to 70% by acquiring a further 10% interest from a private company.
Ait Bou-Haddou is located about 60 km south of Marrakech, and is easily accessible by paved roads. Historical gold resources have been reported at this site, where more than 50 gold occurrences have been recorded and partially worked from surface and at depth by underground work and/or diamond drilling. Four types of mineralisation are documented. These include a zone where gold is associated with shear zones in chlorite-quartz schists; a zone corresponding to a stockwork in a folded horizon of sericite schists, long stratabound layers of what appears to be a deposition of black smoker ashes on a carbonated sea floor, and mineralised rhyodacite lava flows and tufs.
Some US$2 million has been already invested in exploration and development on the property. The previous work includes metallurgical tests on three zones with excellent results for gold recovery of up to 96.6%.
The work done to date, which includes underground adits, has seen the definition of some 250,000 ounces of gold resources, most of these inferred. A technical report concluded in March that the Ait Bou-Haddou property offers good economic potential for gold, silver as well as other metals such as molybdenum, zinc, tungsten and lead.
The report suggested a two stage exploration programme to be carried out over a year, the aim being to expand on new gold mineralisation and augment the indicated and inferred resource base. The exploration program could include 17,000 meters of core and reverse circulation drilling, and at the end of May 2009 this programme was about to commence.