Aya Gold & Silver Inc. (TSX: AYA; OTCQX:
AYASF) (“Aya” or the “Corporation”) is pleased to announce a
Mineral Resource Estimate (“MRE”) prepared in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects (“NI 43-101”) at its Boumadine Project in the Kingdom of
Morocco. The MRE contains an Inferred Mineral Resource of 23.6
million tonnes (“Mt”) at 85 grams per tonne (“g/t”) silver (“Ag”),
2.62 g/t gold (“Au”), 2.32% zinc (“Zn”) and 0.84% lead (“Pb”)
containing an estimated 64.7 million ounces (“Moz”) of Ag, 1.98 Moz
of Au, 546 thousand tonnes (“kt”) of Zn and 198 kt of Pb and an
Indicated Mineral Resource of 2.0Mt at 113 g/t Ag, 2.51 g/t Au,
4.32% Zn and 1.07% Pb containing an estimated 7.4 Moz of Ag, 165
koz of Au, 88 kt of Zn and 22 kt of Pb.
Highlights
-
Indicated Mineral Resources of 2.0Mt at
113 g/t Ag, 2.51 g/t Au, 4.32% Zn and 1.07% Pb
containing an estimated 7.4 Moz of Ag, 165 koz of Au, 88 kt of Zn
and 22 kt of Pb.
- Inferred
Mineral Resources of 23.6 Mt at 85g/t Ag, 2.62 g/t Au,
2.32% Zn and 0.84% Pb containing an estimated 64.7 Moz of Ag, 1.98
Moz of Au, 546 kt of Zn and 198 kt of Pb.
- 41% of
the Inferred Mineral Resource is pit-constrained and
reported above a cut-off net smelter royalty (“NSR”) value of
$95/t, and 59% deemed for underground development NSR cut-off value
of US$125/t.
-
Additional Mineral Resource potential exists to
expand the deposit in all directions for future Mineral Resource
estimation. Less than 10% of the Boumadine land package has been
drilled, and new targets are being generated by the ongoing
geophysical airborne survey.
“We are thrilled to announce a Mineral Resource
update at Boumadine, which represents a significant milestone for
the Corporation,” said Benoit La Salle, President & CEO. “In
under two years, we have delivered 72 Moz of silver and 2.1 Moz of
Au or 352 Moz AgEq at 427 g/t AgEq in all classifications from a
mineralized footprint that continues to grow and remains open in
all directions. This result implies presence of 4.1 Moz AuEq at
5 g/t AuEq. Additionally, drilling has focused solely on the
mining permit, a small portion of the overall mineralized
footprint. We will continue to consolidate the area and
aggressively drill the extensions of the main trend with a view to
growing the Mineral Resource.
I am extremely pleased with the improvement of
the most important metric, silver oz per share (AgEq/share), which
has increased from 0.12 AgEq per share in April 2020 to 3.5 AgEq
per share following this Mineral Resource Estimate. This Mineral
Resource Estimate clearly demonstrates that Boumadine has the
potential to become a generational asset.”
Boumadine Mineral Resource
The MRE has an effective date of April 15, 2024,
and incorporates drilling from 2018 until December 7, 2023, with
the addition of 4 later drill holes with results received in early
2024. The MRE database consists of 336 surface diamond drill holes
totalling 96,301m.
Historical mining was not depleted from the MRE
since the exact position and physical extent could not be measured
accurately. From the historical production reports, approximately
261 kt of mineralized material were extracted and processed
(approximately 1% of the current MRE), therefore it is considered
not material. Historical tailings were excluded from the MRE since
the bulk density, volumes and grades were not properly evaluated at
this phase. Molybdenum was excluded both from the cut-off and AgEq
/ AuEq calculation since the process recoveries were not evaluated
at this stage.
Table 1 –Boumadine MRE, as of April 15,
2024 (1-12)
|
Cutoff |
Tonnes |
Average Grade |
Contained Metal |
Ag |
Au |
Cu |
Pb |
Zn |
AgEq |
AuEq |
Ag |
Au |
Cu |
Pb |
Zn |
AgEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(g/t) |
(%) |
(%) |
(%) |
(g/t) |
(g/t) |
(koz) |
(koz) |
(kt) |
(kt) |
(kt) |
(koz) |
(koz) |
Pit-constrainedIndicated |
95 |
995 |
145 |
2.71 |
0.17 |
1.58 |
5.92 |
634 |
7.40 |
4,647 |
87 |
2 |
16 |
59 |
20,299 |
237 |
Pit-constrainedInferred |
95 |
8,474 |
103 |
2.97 |
0.10 |
0.79 |
2.54 |
475 |
5.54 |
28,087 |
808 |
8 |
67 |
215 |
129,478 |
1,510 |
Out-of-pitIndicated |
125 |
1,046 |
82 |
2.33 |
0.11 |
0.58 |
2.79 |
402 |
4.69 |
2,751 |
78 |
1 |
6 |
29 |
13,533 |
158 |
Out-of-pitInferred |
125 |
15,096 |
76 |
2.42 |
0.07 |
0.87 |
2.19 |
389 |
4.53 |
36,653 |
1,175 |
11 |
131 |
330 |
188,663 |
2,198 |
TotalIndicated |
95/125 |
2,042 |
113 |
2.51 |
0.14 |
1.07 |
4.32 |
515 |
6.01 |
7,398 |
165 |
3 |
22 |
88 |
33,832 |
395 |
TotalInferred |
95/125 |
23,569 |
85 |
2.62 |
0.08 |
0.84 |
2.32 |
420 |
4.89 |
64,740 |
1,983 |
19 |
198 |
546 |
318,141 |
3,708 |
- Mineral
Resources are not Mineral Reserves and do not have demonstrated
economic viability. The estimate of Mineral Resources may be
materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
There is no certainty that Mineral Resources will be converted to
Mineral Reserves.
- The Inferred
Mineral Resource in this estimate has a lower level of confidence
than that applied to an Indicated Mineral Resource and must not be
converted to a Mineral Reserve. It is reasonably expected that the
majority of the Inferred Mineral Resource could be upgraded to an
Indicated Mineral Resource with continued exploration.
- The Mineral
Resources in this news release were estimated in accordance with
the Canadian Institute of Mining, Metallurgy and Petroleum (the
“CIM”) Standards on Mineral Resources and Mineral Reserves
Definitions (2014) and Best Practices Guidelines (2019) prepared by
the CIM Standing Committee on Reserve Definitions and adopted by
the CIM Council, as may be amended from time to time.
- A silver price
of US$21/oz with a process recovery of 89%, a gold price of
US$1,900/oz with a process recovery of 85%, a zinc price of
US$1.20/lb with a process recovery of 72%, a lead price of
US$1.00/lb with a process recovery of 85%, and a copper price of
US$4.00/lb with a process recovery of 75% were used in establishing
the MRE.
- AgEq = Ag(g/t) +
(Au(g/t) *Au price/oz*Au recovery)/(Ag price/oz*Ag recovery) +
Zn(%)*Zn price/lb* Zn recovery/(Ag price/oz*Ag
recovery)*685.7147973 + Pb(%)*Pb price/lb* Pb recovery/(Ag
price/oz*Ag recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu
recovery/(Ag price/oz*Ag recovery)*685.7147973
- AuEq = Au(g/t) +
(Ag(g/t) *Ag price/oz*Ag recovery)/(Au price/oz*Au recovery) +
Zn(%)*Zn price/lb* Zn recovery/(Au price/oz*Au
recovery)*685.7147973 + Pb(%)*Pb price/lb* Pb recovery/(Au
price/oz*Au recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu
recovery/(Au price/oz*Au recovery)*685.7147973.
- The constraining
pit optimization parameters were US$3/t for mineralized material
mining. US$2/t for waste mining US$89/t for processing and US$6/t
for G&A totalling US$95/t for a cut-off and 50-degree pit
slopes.
- The out-of-pit
parameters used a US$30/t mining cost, US$89/t processing cost and
US$6/t G&A totalling US$125/t for a cut-off The out-of-pit
Mineral Resource grade blocks were quantified above the US$125 NSR
cut-off, below the constraining pit shell and within the
constraining mineralized wireframes. Out–of-pit Mineral Resources
exhibit continuity and reasonable potential for extraction by the
long hole underground mining method.
- Individual
calculations in tables and totals may not sum due to rounding of
original numbers.
- Grade capping of
800 g/t Ag, 30 g/t Au, 28% Zn, 10% Pb and 1.4% Cu
was applied to composites before grade estimation.
- Bulk density was
evaluated separately for each individual vein with values ranging
from 3.20 to 4.00 t/m3 determined from drill core samples and used
for the MRE. For oxidized and transitional material, a bulk density
of 2.65 t/m3 was used.
- 1.0 m composites
were used during grade estimation.
Table 2 – Cut-Off Sensitivity
MRE (1-12)
Indicated Out-of-Pit Resources |
Cutoff |
Tonnes |
Ag |
Ag |
Au |
Au |
Cu |
Pb |
Zn |
AgEq |
AgEq |
AuEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(koz) |
(g/t) |
(koz) |
(%) |
(%) |
(%) |
(g/t) |
(koz) |
(g/t) |
(koz) |
145 |
895 |
88 |
2,529 |
2.48 |
71 |
0.12 |
0.59 |
2.98 |
428 |
12,307 |
4.99 |
144 |
140 |
930 |
86 |
2,585 |
2.44 |
73 |
0.12 |
0.59 |
2.94 |
422 |
12,609 |
4.92 |
147 |
135 |
962 |
85 |
2,636 |
2.41 |
75 |
0.12 |
0.59 |
2.90 |
416 |
12,872 |
4.85 |
150 |
130 |
997 |
84 |
2,690 |
2.37 |
76 |
0.12 |
0.59 |
2.86 |
410 |
13,153 |
4.78 |
153 |
125 |
1,046 |
82 |
2,751 |
2.33 |
78 |
0.11 |
0.58 |
2.79 |
402 |
13,533 |
4.69 |
158 |
120 |
1,110 |
79 |
2,815 |
2.28 |
81 |
0.11 |
0.58 |
2.72 |
392 |
13,999 |
4.57 |
163 |
115 |
1,202 |
75 |
2,888 |
2.22 |
86 |
0.11 |
0.58 |
2.62 |
379 |
14,649 |
4.42 |
171 |
110 |
1,250 |
73 |
2,944 |
2.18 |
88 |
0.10 |
0.58 |
2.58 |
373 |
14,983 |
4.34 |
175 |
105 |
1,288 |
72 |
2,988 |
2.15 |
89 |
0.10 |
0.58 |
2.56 |
368 |
15,236 |
4.29 |
178 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inferred Out-of-Pit Resources |
Cutoff |
Tonnes |
Ag |
Ag |
Au |
Au |
Cu |
Pb |
Zn |
AgEq |
AgEq |
AuEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(koz) |
(g/t) |
(koz) |
(%) |
(%) |
(%) |
(g/t) |
(koz) |
(g/t) |
(koz) |
145 |
11,525 |
82 |
30,503 |
2.78 |
1031 |
0.08 |
0.90 |
2.22 |
429 |
159,110 |
5.00 |
1,854 |
140 |
12,169 |
81 |
31,662 |
2.71 |
1060 |
0.08 |
0.89 |
2.21 |
421 |
164,749 |
4.91 |
1,920 |
135 |
12,960 |
79 |
33,068 |
2.62 |
1093 |
0.08 |
0.89 |
2.20 |
412 |
171,489 |
4.80 |
1,998 |
130 |
13,867 |
78 |
34,627 |
2.53 |
1129 |
0.07 |
0.88 |
2.20 |
401 |
178,959 |
4.68 |
2,085 |
125 |
15,096 |
76 |
36,653 |
2.42 |
1175 |
0.07 |
0.87 |
2.19 |
389 |
188,663 |
4.53 |
2,198 |
120 |
16,295 |
74 |
38,554 |
2.33 |
1220 |
0.07 |
0.85 |
2.17 |
377 |
197,736 |
4.40 |
2,304 |
115 |
17,362 |
72 |
40,051 |
2.26 |
1263 |
0.07 |
0.83 |
2.13 |
368 |
205,358 |
4.29 |
2,393 |
110 |
18,602 |
70 |
41,635 |
2.19 |
1310 |
0.07 |
0.82 |
2.09 |
358 |
213,877 |
4.17 |
2,492 |
105 |
20,004 |
67 |
43,277 |
2.12 |
1366 |
0.06 |
0.79 |
2.03 |
347 |
222,949 |
4.04 |
2,598 |
Indicated In-Pit Resources |
Cutoff |
Tonnes |
Ag |
Ag |
Au |
Au |
|
Pb |
Zn |
AgEq |
AgEq |
AuEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(koz) |
(g/t) |
(koz) |
(%) |
(%) |
(%) |
(g/t) |
(koz) |
(g/t) |
(koz) |
120 |
948 |
151 |
4,587 |
2.80 |
85 |
0.18 |
1.62 |
6.10 |
655 |
19,968 |
7.65 |
233 |
115 |
957 |
150 |
4,600 |
2.78 |
86 |
0.18 |
1.61 |
6.06 |
651 |
20,034 |
7.60 |
234 |
110 |
975 |
148 |
4,627 |
2.74 |
86 |
0.18 |
1.60 |
6.01 |
643 |
20,170 |
7.51 |
235 |
105 |
982 |
147 |
4,636 |
2.73 |
86 |
0.18 |
1.59 |
5.98 |
640 |
20,221 |
7.47 |
236 |
100 |
989 |
146 |
4,641 |
2.72 |
86 |
0.17 |
1.59 |
5.94 |
637 |
20,265 |
7.43 |
236 |
95 |
995 |
145 |
4,647 |
2.71 |
87 |
0.17 |
1.58 |
5.92 |
634 |
20,299 |
7.40 |
237 |
90 |
1,000 |
145 |
4,652 |
2.70 |
87 |
0.17 |
1.58 |
5.90 |
632 |
20,330 |
7.37 |
237 |
85 |
1,010 |
144 |
4,665 |
2.68 |
87 |
0.17 |
1.57 |
5.86 |
628 |
20,384 |
7.32 |
238 |
80 |
1,032 |
142 |
4,698 |
2.63 |
87 |
0.17 |
1.55 |
5.78 |
618 |
20,503 |
7.21 |
239 |
75 |
1,042 |
141 |
4,709 |
2.61 |
87 |
0.17 |
1.54 |
5.74 |
614 |
20,552 |
7.16 |
240 |
70 |
1,048 |
140 |
4,714 |
2.60 |
88 |
0.17 |
1.53 |
5.71 |
611 |
20,582 |
7.12 |
240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inferred In-Pit Resources |
Cutoff |
Tonnes |
Ag |
Ag |
Au |
Au |
Cu |
Pb |
Zn |
AgEq |
AgEq |
AuEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(koz) |
(g/t) |
(koz) |
(%) |
(%) |
(%) |
(g/t) |
(koz) |
(g/t) |
(koz) |
120 |
6,952 |
116 |
25,827 |
3.48 |
778 |
0.12 |
0.77 |
2.47 |
531 |
118,680 |
6.19 |
1,384 |
115 |
7,259 |
113 |
26,331 |
3.37 |
786 |
0.11 |
0.78 |
2.48 |
519 |
121,011 |
6.05 |
1,411 |
110 |
7,564 |
110 |
26,833 |
3.26 |
792 |
0.11 |
0.79 |
2.49 |
507 |
123,269 |
5.91 |
1,438 |
105 |
7,878 |
108 |
27,301 |
3.15 |
798 |
0.11 |
0.79 |
2.51 |
496 |
125,505 |
5.78 |
1,464 |
100 |
8,201 |
105 |
27,736 |
3.05 |
803 |
0.10 |
0.79 |
2.53 |
484 |
127,722 |
5.65 |
1,490 |
95 |
8,474 |
103 |
28,087 |
2.97 |
808 |
0.10 |
0.79 |
2.54 |
475 |
129,478 |
5.54 |
1,510 |
90 |
8,711 |
101 |
28,383 |
2.90 |
812 |
0.10 |
0.78 |
2.55 |
467 |
130,929 |
5.45 |
1,527 |
85 |
8,890 |
100 |
28,590 |
2.85 |
815 |
0.10 |
0.78 |
2.55 |
462 |
131,957 |
5.38 |
1,539 |
80 |
9,050 |
99 |
28,759 |
2.81 |
817 |
0.10 |
0.77 |
2.54 |
456 |
132,818 |
5.32 |
1,549 |
75 |
9,167 |
98 |
28,878 |
2.78 |
819 |
0.10 |
0.77 |
2.53 |
453 |
133,408 |
5.28 |
1,556 |
70 |
9,300 |
97 |
28,999 |
2.75 |
821 |
0.09 |
0.77 |
2.52 |
448 |
134,037 |
5.23 |
1,563 |
Figure 1 – Location of Zones included in
Boumadine Mineral Resource Estimate, with drill holes and magnetic
data (residual total field)
Figure 2 – Surface Plan of Boumadine
with mineralized envelope included in the Mineral Resource
Estimate
Figure 3 – Longitudinal projection of
the block model of Boumadine Mineral Resource Estimate
Figure 4 – Typical vertical
cross-section of the Central Zone of Boumadine (Section
8850N)
Figure 5 – Typical vertical
cross-section of the South Zone of Boumadine (Section
6525N)
Resource-supporting
Information
Geology and Geological Interpretation
The Boumadine Project is located within the
Anti-Atlas belt, on the northwest side of the Ougnat Massif. The
geology of the Ougnat Inlier is formed by late-Precambrian (PIII)
predominantly calc-alkaline volcanic and intrusive rocks.
Mineralization is hosted within polymetallic massive Au-Ag-Zn-Pb
sulphide vein systems oriented N340. Mineral assemblage is
characterized by high concentration of pyrite and variable amounts
of arsenopyrite, sphalerite, and galena with local trace of
chalcopyrite. Veins are sub-vertical to steeply dipping (>70°)
with thickness generally varying from 1 to 5 m; locally reaching
over 10m.
Mineralized boundaries for the current Mineral
Resource Estimate have been determined using a combination of
logged sulphide percentage and mineralization grade assay.3D
wireframes were created using interval selection with the Seequent
software Leapfrog GeoTM.
Sampling and Sub-sampling
Techniques
Only DDH samples were used for the Mineral
Resource Estimate of the Boumadine Deposit.
Diamond drill holes were cut and sampled at
nominal 1m lengths, except where lengths were altered to match
geological boundaries. Sampling was undertaken along the entire
length of the DDH. Circa 2 to 4 kg samples were submitted to the
laboratory for analysis.
Sample Analysis Method
Samples were prepared by African Laboratory for
Mining and Environment (“Afrilab”) at its Boumadine prep-laboratory
facility or at its Zgounder prep-lab. A total of 250 g of
pulverized sample material was then submitted for analysis to
Afrilab Marrakech. Inductively Coupled Plasma (“ICP”) spectrometry
was used for Ag, Zn, Pb, Cu, Mo. Fire assaying was conducted for Au
and Ag results above 200 ppm.
QA/QC samples were inserted at a 5% rate. For a
batch of 25 samples: 1 certified reference material, 1 blank and 1
drill core duplicate were inserted. At the end of each month, a
selection of 5% from the coarse rejects was submitted to Afrilab;
and a selection of 5% of the pulp residues was sent to ALS Sevilla,
Spain acting as an umpire lab.
Regular reviews of the sampling and QA/QC
protocols were carried out by Aya’s project geologist under the
supervision of Aya’s Qualified Person, to ensure all procedures
were followed and best industry practices carried out. Monitoring
of results of duplicates, blanks and certified reference materials
was conducted by the database administrator each time an assay
batch was imported in the Geotic database.
Drilling Techniques
Drilling was carried out by Geosond Maroc SARL
using CT20 and CS140 drill rigs. Holes were drilled at HQ and NQ
diameters. Surveys were completed in each hole with a first reading
at 12 m and then every 25 m by reflex Ez-shot and Devico-deviflex.
All drill hole collars were surveyed by a DGPS.
Drill and Data Spacing
Most of the Deposit has been drilled on a 100 x
50-meter spacing grid through N70 cross-sections. In the northern
and southern sections, the spacing was extended to 200 x 100
meters. The Indicated Mineral Resource was infilled to 50 x
50-meter spacing.
Mineral Resource and Estimation
Methodology
90% of the Mineral Resource Estimate is
classified as Inferred, and the remaining 10% in the Indicated
category.
Data was composited to 1m. Top cuts were applied
to Au, Ag, Zn, Pb, Cu & Mo after review of composite log-normal
histograms.
Veins were interpolated independently. For the
main vein, ordinary kriging was carried out for grade estimation,
while other veins with less composites were estimated by inverse
square distance. Wireframe modelling was developed using Seequent
Leapfrog GeoTM. Statistics, variography and estimation were
completed using the Geovariances Isatis NeoTM software. Open-pit
optimization was developed using the NPV SchedulerTM software.
Bulk density measurements were collected
systematically within mineralized zones and outside boundaries of
mineralized zones. Different bulk density values were allocated by
veins based on the vein average bulk density value. Transitional
materials were also allocated a different bulk density value.
Cut-off Grades
The geological domain boundaries were determined
using a cut-off grade of 100 g/t Ag equivalent. Mineral
Resources are reported using NSR values of US$125/t for the
out-of-pit and US$95/t for the open-pit.
NSR, Ag equivalent and Au equivalent are
calculated using the following parameters and formulas (Table
3).
Table 3 – Parameters and formulas used to calculate NSR,
Ag equivalent & Au equivalent
|
Au (oz) |
Ag (oz) |
Zn (lb) |
Pb (lb) |
Cu (lb) |
Prices in $USD |
$1,900 |
$21 |
$1.20 |
$1.00 |
$4.00 |
Recovery in % |
85.2% |
89.1% |
72.0% |
84.5% |
75.3% |
NSR ($/t) |
(Pb% x $10.74) + (Zn% x $13.59) + (Au g/t x $50.89) +
(Ag g/t x $0.56) +(Cu% x 63.08) |
Ag Equivalent (g/t) |
Ag(g/t) + (Au(g/t) *Au price/oz*Au recovery)/(Ag price/oz*Ag
recovery) + Zn(%)*Zn price/lb* Zn recovery/(Ag price/oz*Ag
recovery)*685.7147973 + Pb(%)*Pb price/lb* Pb recovery/(Ag
price/oz*Ag recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu
recovery/(Ag price/oz*Ag recovery)*685.7147973 |
Au Equivalent (g/t) |
Au(g/t) + (Ag(g/t) *Ag price/oz*Ag recovery)/(Au price/oz*Au
recovery) + Zn(%)*Zn price/lb* Zn recovery/(Au price/oz*Au
recovery)*685.7147973 + Pb(%)*Pb price/lb* Pb recovery/(Au
price/oz*Au recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu
recovery/(Au price/oz*Au recovery)*685.7147973 |
Mining and Metallurgical Parameters
The mineralization at Boumadine starts at
surface and continues down to more than 600 m in depth, making the
MRE appropriate for a combination of open pit and underground
mining.
Mining dimensions or mining dilution were not
considered as part of the Pit Optimization work, and a block
dimension of 2.5m x 5m x 5m was used, which is considered
acceptable in terms of a potential smaller selective mining unit.
Similarly, a crown pillar has not been accounted for between the
Open Pit and the Underground Mineral Resources.
The preliminary metallurgical recoveries that
have been used for the NSR calculation are presented (Table 3)
along with the NSR calculation formula, and are 85.2% for Au, 89.1%
for Ag, 72% for Zn, 84.5% for Pb, and 75.3% for Cu.
The NSR US$/t value was based on estimated
metallurgical recoveries derived from a series of testwork, assumed
metal prices, and smelter terms, which include payable factors,
treatment charges, penalties, and refining charges.
Next Steps
Prior to 2020, the Boumadine Project had seen
limited near-mine drilling and no regional exploration. Since 2022,
the Aya team has conducted over 94,000 m of DDH programs on the
mining permit with the goal of delivering a Mineral Resource
Estimate.
Significant upside potential exists to expand
the Boumadine Main Trend, which currently covers 4.2 square km and
remains open in all directions. Through 2024, the Corporation plans
to mobilize seven drill rigs to complete the 120,000 m drilling
program. Half of the program will test the continuation of the
known trend and infill. The remaining 50% will focus on geological
targets generated by 2023 work and will be informed by the ongoing
hyperspectral and high-resolution geophysical surveys. A total of
12 new permits have been acquired in the vicinity of the Boumadine
permits since June 2023 (Figure 6). Hyperspectral and the
geophysical surveys began in early 2024 and results are expected in
late Q2-2024. The results from ongoing geology work will determine
additional development work.
Figure 6 – Location of new Boumadine
permits
Qualified Person
The scientific and technical information
contained in this press release have been reviewed and approved by
David Lalonde, B. Sc, Head of Exploration, Qualified Person, and by
Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining
Consultants Inc., and an independent Qualified Person
This Mineral Resource Estimate has been
completed in accordance with NI 43-101, and the Corporation will
prepare and file a Technical Report on SEDAR+ within 45 days of
this press release.
P&E Mining Consultants Inc., an associate
group of twenty professionals established in 2004, provides
geological and mine engineering consulting reports, Mineral
Resource and Mineral Reserve Estimates, NI 43-101 Technical
Reports, Preliminary Economic Assessments, Pre-Feasibility and
Feasibility Studies.
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 management team maximizes shareholder
value by anchoring sustainability at the heart of its production,
resource, governance, and financial growth plans.
For additional information, please visit Aya’s website at
www.ayagoldsilver.com or contact:
Benoit La Salle, FCPA, MBA President &
CEObenoit.lasalle@ayagoldsilver.com |
Alex Ball VP, Corporate Development & IR
alex.ball@ayagoldsilver.com |
|
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Forward-Looking Statements
This news release contains “forward-looking
information” or “forward-looking statements” within the meaning of
applicable securities laws and other statements that are not
historical facts. Forward-looking statements are included to
provide information about management’s current expectations and
plans that allows investors and others to have a better
understanding of the Corporation’s business plans and financial
performance and condition.
All statements, other than statements of
historical fact included in this news release, regarding the
Corporation’s strategy, future operations, financial position,
prospects, plans and objectives of management are forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are typically identified by words such as “plan”,
“expect”, “estimate”, “intend”, “anticipate”, “believe”, “secure”,
“consolidate”, “exceed”, “indicate”, “continue”, “grow”,
“generate”, “prospectives”, “greater”, “confirm”, “remains”,
“confidence”, “potential”, “complete”, “extend”, or variations of
such words and phrases or statements that certain actions, events
or results “may”, “could”, “would”, “might”, “will”, or are
”likely” to be taken, occur or be achieved. In particular and
without limitation, this news release contains forward-looking
statements pertaining to the exploration and development potential
of Boumadine and the advancement of and success of the exploration
program at Boumadine, notably the potential to expand the deposit
in all directions.
Forward-looking information is based upon
certain assumptions and other important factors that, if untrue,
could cause the actual results, performance or achievements of the
Corporation to be materially different from future results,
performance or achievements expressed or implied by such
information or statements. There can be no assurance that such
information or statements will prove to be accurate. Key
assumptions upon which the Corporation’s forward-looking
information is based include the ability to obtain any requisite
governmental approvals, the accuracy of Mineral Reserve and Mineral
Resource Estimates (including, but not limited to, ore tonnage and
ore grade estimates), silver price, exchange rates, fuel and energy
costs, future economic conditions, anticipated future estimates of
free cash flow, and courses of action.
Readers are cautioned that the foregoing list is
not exhaustive of all factors and assumptions which may have been
used. Forward-looking statements are also subject to risks and
uncertainties facing the Corporation’s business, any of which could
have a material adverse effect on the Corporation’s business,
financial condition, results of operations and growth prospects.
Some of the risks the Corporation faces and the uncertainties that
could cause actual results to differ materially from those
expressed in the 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 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. In
addition, readers are directed to carefully review the detailed
risk discussion in the Corporation’s 2023 Annual Information Form
dated March 28, 2024 filed on SEDAR+ at www.sedarplus.ca, which
discussion is incorporated by reference in this news release, for a
fuller understanding of the risks and uncertainties that affect the
Corporation’s business and operations. Furthermore, Aya’s corporate
update of May 28, 2020, in which it indicated that previous studies
regarding assets which the Corporation considered at that time not
to constitute material assets, remains applicable as of the date
hereof.
Although the Corporation believes its
expectations are based upon reasonable assumptions and has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can thus be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. As such, these risks are not
exhaustive; however, they should be considered carefully. If any of
these risks or uncertainties materialize, actual results may vary
materially from those anticipated in the forward-looking statements
found herein. Due to the risks, uncertainties and assumptions
inherent in forward-looking statements, readers should not place
undue reliance on forward-looking statements.
Forward-looking statements contained herein are
presented for the purpose of assisting investors in understanding
the Corporation’s business plans, financial performance and
condition and may not be appropriate for other purposes.
The forward-looking statements contained herein
are made only as of the date hereof. The Corporation disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except to the extent required by applicable law. The
Corporation qualifies all of its forward-looking statements by
these cautionary statements.
In the foregoing, all references to Aya include
its subsidiaries unless the context requires otherwise.
Figures accompanying this announcement are available
at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0238cdaa-9bf3-4533-874b-877cdd1674a5
https://www.globenewswire.com/NewsRoom/AttachmentNg/c2adc142-c67d-48c7-b48d-035f022718ad
https://www.globenewswire.com/NewsRoom/AttachmentNg/bb59756d-e390-4271-a716-be2883c471b1
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b6a6eb1-69e6-47a2-80fd-162fed21d17d
https://www.globenewswire.com/NewsRoom/AttachmentNg/facd4832-0268-497c-829b-5744c498a802
https://www.globenewswire.com/NewsRoom/AttachmentNg/2cc20235-ec54-4c0b-a2c0-842aeef3a2a7
Aya Gold & Silver (TSX:AYA)
과거 데이터 주식 차트
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Aya Gold & Silver (TSX:AYA)
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