11:38 AM EST, 02/26/2020 (MT Newswires) -- Maya Gold & Silver (MYA.TO) rose more than 5% as the company on Wednesday said drilling at its Zgounder silver mine in Morocco showed additional high-grade resources.

The company said best results from 26 reverse-circulation holes at the site included 12 meters testing at 1,112 grams per tonne of silver and 15 meters containing 492 gpt of silver.

"We are more pleased with the RC exploration drilling program as it continues to deliver positive results in our preparation for the open pit extraction as scheduled in our mine development," chief executive Noureddine Mokaddem said in a release.

Maya shares were last seen up C$0.08 to C$1.65 on the Toronto Stock Exchange.

Price: 1.65, Change: +0.08, Percent Change: +5.10