MONTREAL, Oct. 17,
2022 /CNW/ - Aya
Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) ("Aya"
or the "Corporation") is pleased to report record mine and mill
throughput and strong production in Q3-2022 at the Zgounder Silver
Mine in the Kingdom of Morocco.
Highlights
- Record mine throughput of 825 tonnes per day ("tpd") in Q3-2022
with a monthly record of 941 tpd in September 2022
- Record mill throughput of 803 tpd in Q3-2022 with a monthly
record of 845 tpd in September
2022
- 451,681 ounces ("oz") of silver ("Ag") produced in Q3-2022, a
33.4% improvement from Q3-2021
- Head grade of 216 grams per tonne ("g/t") Ag mined and 232 g/t
Ag at the mill in Q3-2022
- Silver recovery of 86.2% in Q3-2022, a 6.4% improvement from
Q3-2021
- Over 1,150 meters ("m") of permanent underground infrastructure
completed
- Maintaining 2022 production guidance of 1.6-1.8 million oz
Ag
"Our mining operations are performing very well as a result of
continued strong execution and measures taken by our team in
previous quarters to improve efficiencies and deliver a strong
quarter, " said Benoit La Salle,
President & CEO. "In what is the driest quarter of the year, we
particularly benefited from our optimised water management
facilities and measures. We have started mine development and are
maintaining annual cost and production guidance ahead of announcing
several expansion-related strategic milestones at Zgounder and an
aggressive drill exploration program, which will unlock value for
all stakeholders."
Q3-2022 Production
Update
During the third quarter, record mine and mill throughput of 825
tpd and 803 tpd, respectively, were achieved along with quarterly
production of 451,681 oz Ag with a mill feed grade of 232 g/t Ag. A
total of 75,907 tonnes ("t") were mined at a head grade of 216 g/t
Ag with underground mine development being a major focus in the
quarter. Silver recovery was 84.5% at the flotation plant and 88.9%
at the cyanidation plant for an average recovery of 86.2% in the
quarter. Mill availabilities of 92.0% for the flotation plant and
95.6% for the cyanidation plant were achieved.
As mine operations are scaling up to reach 2,700 tpd by the end
of 2024, management has determined that additional definition
drilling is required to ensure predictable grade in stopes.
Additional equipment and human resources have been added to meet
this objective. Additional inventory on the Run of Mine ("ROM") pad
will help maintain a more consistent grade sent to the mill.
Infrastructure development continues to ramp up and reached
470m in September 2022, close to the 500m monthly objective for 2023-2024.
New mine levels were put online and will contribute to ensure
mine ramp-up in 2023, as per the mine plan. Underground mine
production is expected to accelerate in 2023 to accumulate a
stockpile of 200,000t for the new plant commissioning in 2024.
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 "plans", "expects",
"does not expect", "deliver", "plan", "scheduled", "trends",
"indications", "potential", "estimates", "predicts", "anticipate",
"to establish", "does not anticipate", "believe", "intend",
"ability to" 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 June 16, 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