MONTREAL,
April 5, 2022 /CNW/
- Aya Gold & Silver
Inc. (TSX: AYA) ("Aya" or the "Corporation") is pleased to
provide an update on underground development work at the Zgounder
Silver Mine in the Kingdom of Morocco.
Highlights
- Selection and mobilization of TRAV
SOUSS MASSA ("TSM") to conduct the lateral underground mine
development
-
- First blast carried out at end of January 2022
- 314 meters ("m") of lateral development effected to date
- Selection of CMAC-Thyssen ("CMAC") to carry out the vertical
underground mine development including Alimak raises
-
- Mobilization scheduled for June
2022
"We are quickly de-risking our expansion and advancing the
underground mine buildout with the timely award of the lateral and
vertical development tenders and the mobilization of the two
established contractors." said Benoit La
Salle, President & CEO. "We are particularly thrilled to
be working with a local contractor, which speaks to the depth of
the mining services industry in Morocco. We look forward to updating
stakeholders as we advance."
Contractor Selection
Aya launched a tender in November
2021 for the development of the Zgounder underground mine
over a two-year period.
Moroccan-based TSM was selected to carry out the lateral
development (main levels and connecting ramps), and CMAC was
selected for the vertical development (four Alimak raises for
ventilation, ore pass and waste pass).
TSM
TSM is a merger of three companies: TRAGI, TRAV SOUSS MASSA and CMDT. TSM was selected on
the basis of its competitive offer, local presence, and experience
in mining development. Additionally, TSM has an excellent track
record over its nine-year history in Morocco.
Under the scope of its contract, TSM is responsible for the
following project work streams including:
- First phase of lateral development for construction of the
underground infrastructures
-
- Includes 4,262m of level
development of various sections (4m x
4.5m and 4.5m x 5m) as well
as 720m of ramp connections between
underground levels
- Completion of the work over an 18-month period.
CMAC-Thyssen
CMAC is a Canadian contractor and manufacturer that has a
presence in 15 countries and has been active in Morocco for over 10 years. CMAC was selected
for being one of the best contractors in Morocco with Alimak raise excavation
experience and for its ability to train local employees. An Alimak
raise is a mechanized raise method used to develop escapeways,
ventilation raises, ore and waste passes, and slot raises in
underground mines.
CMAC will receive its equipment at Zgounder in June 2022 and will begin development of the 4
Alimak raises for expected completion within twelve months of the
start date. The Alimak program will include:
- A ventilation exhaust raise of 9m2 section and 187m length
- A ventilation intake raise of 9m2 section and 130m length
- An ore pass of 4 m2
section and 165m length
- A waste pass of 4 m2
section and 180m length
TSM Development Update
In January, TSM launched the development and construction of the
main underground infrastructures with the first blast of the new
mine portal located at the 2,000m
level (see Figure 1).
Figure 1 – New Mine Entrance at the 2,000 Level
As of March 31, 2022, TSM had
completed a total of 314m of lateral
development between the 2,000m level
and 1,975m levels as well as the
ramps connecting the 1,975m and
2,000m levels and the 1,950m and 1,975m
levels (see Figure 2). The next step is to connect the new and
existing infrastructure at the 2,000m
level in addition to preparing the area where CMAC will install the
Alimak and develop the ventilation raise.
Figure 2 – Underground Development (Isometric View to North)
of Zgounder Mine Workings
Filing of 43-101 Feasibility Study Technical Report
The Corporation has also filed on SEDAR an independent
feasibility study technical report prepared in accordance with
National Instrument 43-101 for the expansion of the Zgounder Silver
Mine. There are no differences between the technical report and the
information disclosed in the February 22,
2022 news release. In addition to SEDAR, the report can be
found on the Corporation's website (www.ayagoldsilver.com).
About Aya Gold & Silver
Inc.
Aya Gold & Silver Inc. is a
rapidly growing, Canada-based
silver producer with operations in the Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the
high-grade Zgounder Silver Mine and is exploring its properties
along the prospective South-Atlas Fault, several of which have
hosted past-producing mines and historical resources. Aya's
Moroccan mining assets are complemented by its Tijirit Gold Project
in Mauritania, which is being
advanced to feasibility.
Aya's management team has been focused on maximising shareholder
value by anchoring sustainability at the heart of its operations,
governance, and financial growth plans.
For additional information, please visit Aya's website at
www.ayagoldsilver.com.
Forward-Looking Statements
This press release contains certain statements that constitute
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements"), which reflects
management's expectations regarding Aya's future growth and
business prospects (including the timing and development of new
deposits and the success of exploration activities) and other
opportunities. Wherever possible, words such as "de-risk",
"advance", "plans", "expects", and similar expressions or
statements that certain actions, events or results "may", "could",
"would", "might", "will", or are "likely" to be taken, occur or be
achieved, have been used to identify such forward-looking
information. Specific forward-looking statements in this press
release include, but are not limited to, statements and information
with respect to the exploration and development potential of
Zgounder and the conversion of Inferred Mineral Resources into
Measured and Indicated Mineral Resources, future opportunities for
enhancing development at Zgounder, and timing for the release of
the Company's disclosure in connection with the foregoing. Although
the forward-looking information contained in this press release
reflect management's current beliefs based upon information
currently available to management and based upon what management
believes to be reasonable assumptions, Aya cannot be certain that
actual results will be consistent with such forward-looking
information. Such forward-looking statements are based upon
assumptions, opinions and analysis made by management in light of
its experience, current conditions, and its expectations of future
developments that management believe to be reasonable and relevant
but that may prove to be incorrect. These assumptions include,
among other things, the closing and timing of financing, the
ability to obtain any requisite governmental approvals, the
presence of artisanal miners, obtaining regulatory permits for on
site work, importing goods and machinery and employment permits,
the accuracy of Mineral Reserve and Mineral Resource Estimates
(including, but not limited to, ore tonnage and ore grade
estimates), the price of silver, the price of gold, exchange rates,
fuel and energy costs, future economic conditions, anticipated
future estimates of free cash flow, and courses of action. Aya
cautions you not to place undue reliance upon any such
forward-looking statements.
The risks and uncertainties that may affect forward-looking
statements include, among others: the inherent risks involved in
exploration and development of mineral properties, including
government approvals and permitting, changes in economic
conditions, changes in the worldwide price of silver gold and other
key inputs, changes in mine plans (including, but not limited to,
throughput and recoveries being affected by metallurgical
characteristics) and other factors, such as project execution
delays, many of which are beyond the control of Aya, as well as
other risks and uncertainties which are more fully described in
Aya's 2021 Annual Information Form dated March 31, 2022, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR
at www.sedar.com. Aya does not undertake any obligation to update
forward-looking statements should assumptions related to these
plans, estimates, projections, beliefs, and opinions change.
Nothing in this document should be construed as either an offer to
sell or a solicitation to buy or sell Aya securities. All
references to Aya include its subsidiaries unless the context
requires otherwise.
SOURCE Aya Gold & Silver
Inc