AYA Launches Feasibility Study for the Expansion of its Zgounder Silver Mine in Morocco
August 06 2020 - 7:00AM
AYA Gold & Silver Inc. (TSX: AYA) (“AYA” or the
“Corporation”) announces it has launched the feasibility study for
the expansion of its Zgounder Silver Mine in Morocco in partnership
with Montreal-based DRA Met-Chem, a division of DRA Global Ltd
(“DRA”). AYA is also engaging several contractors with specific
competencies related to the feasibility study. Additional details
on the fieldwork studies and selected consultants will be provided
in future press releases as work progresses.
DRA is globally well recognized for its capabilities in mining
and mineral processing and for its experienced engineering,
technical and project management expertise. DRA has a deep presence
and experience in successfully delivering similar studies in
precious metal projects in the Americas, Europe, Australasia,
Russia and Africa including Morocco. For a third year running, DRA
has been recognized as one of the top 100 International Design
firms.
The Zgounder Silver Mine currently operates at approximately
500tpd with nameplate capacity at 700tpd. AYA believes that the
feasibility study will support a significant increase in tonnage,
with a preliminary target of 2,000tpd. This target will be further
defined in the coming months and is consistent with internal
resource growth assumptions.
“The strong silver fundamentals as well as our planned drilling
exploration program gives us confidence in growing the resource and
the expansion potential of the Zgounder Silver Mine. The
feasibility study is an important step forward to maximize
shareholder value,” said Benoit La Salle, President and CEO of AYA.
“We are assembling a highly qualified team of experts to complete
the study by Q4 2021.”
“We are delighted to work with AYA and its team who we know and
appreciate”, said Daniel Gagnon, Senior Vice President at DRA
Met-Chem. “We have historically worked in Morocco and look forward
to leveraging our expertise in country and in precious metals to
help optimize production and to deliver value to all
stakeholders.”
Qualified Persons
The technical content of this news release has been reviewed by
Daniel Gagnon, P.Eng., from DRA Met-Chem, independent Qualified
Person under NI 43-101 standards, based on the information
received from AYA Gold and Silver technical team (Zgounder
Millennium Silver Mine subsidiary).
About AYA Gold & Silver Inc.
AYA Gold & Silver Inc. is a publicly traded Canadian company
focused on the operation, exploration, acquisition and development
of silver and gold deposits. AYA is currently operating mining and
milling facilities at its Zgounder Silver Mine, an 85%-15% joint
venture between its subsidiary, ZMSM, and the Office National des
Hydrocarbures et des Mines (“ONHYM”) of the Kingdom of
Morocco.
Its mining portfolio also includes the Boumadine polymetallic
deposit located in the Anti-Atlas Mountains of Eastern Morocco
which is also a joint venture with ONHYM wherein AYA retains an 85%
ownership. Additionally, the Corporation’s portfolio includes the
Amizmiz and Azegour properties, both being 100% owned, with gold,
tungsten, molybdenum and copper occurrences covering over 100
square kilometres in a historical mining district of Morocco.
For additional information, please visit AYA’s website at
www.ayagoldsilver.com
Or contact:
Benoit La Salle, FCPA FCA President & CEO Tel:
+1 (514) 951-4411 Benoit.lasalle@ayagoldsilver.com |
Alex Ball Corporate Development & IR Tel: +1 (647)
919-2227 Alex.ball@ayagoldsilver.com |
Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as “will”, “continue”, “provide”,
“present”, “reasonable”, “established”, “has”, “demonstrate”,
“potential”, or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would" or
"might". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Corporation to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of
write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits
including the accuracy of the current mineral reserve and mineral
resource estimates of the Corporation (including, but not limited
to, ore tonnage and ore grade estimates) and mine plans for the
Corporation’s mining operations (including, but not limited to,
throughput and recoveries being affected by metallurgical
characteristics); (v) the risk associated with establishing title
to mineral properties and assets including permitting, development,
operations and production from the Corporation’s operations being
consistent with expectations and projections; (vi) fluctuations in
commodity prices and other risks and factors described or referred
to in the section entitled "Risk Factors" in the MD&A of the
Corporation and which is available at www.sedar.com, all of which
should be reviewed in conjunction with the information found in
this news release
Although the Corporation has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Such
forward-looking information has been provided for the purpose of
assisting investors in understanding the Corporation's business,
operations and exploration plans and may not be appropriate for
other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and the
Corporation does not undertake to update such forward-looking
information except in accordance with applicable securities
laws.
Alex Ball
Aya Gold & Silver
1 (647) 919-2227
aball@ayagoldsilver.com