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Aya reports significant silver results at Zgounder

Aya Gold and Silver has reported intercepting 9m at 1,946g/t silver from exploration drilling at its flagship, majority-owned Zgounder mine in Morocco, where it’s aiming to update the resource this year.
Aya reports significant silver results at Zgounder Aya reports significant silver results at Zgounder Aya reports significant silver results at Zgounder Aya reports significant silver results at Zgounder Aya reports significant silver results at Zgounder

Aya Gold and Silver’s chief geologist showing the near-mine location of the new, high-grade silver strike extension at Zgounder in Morocco

Staff reporter

"The exploration efforts have delivered some of our most significant results to date, extending the high-grade strike to the east and confirming continuity and high-grade mineralisation at depth," president and CEO Benoit La Salle said.

Aya had announced its "all-time best result" in December, of 4m at 9,346g/t silver including 0.5m at 60,000g/t, below the current mining operations.

The company changed name from Maya last year and brought in a new management team, led by former Semafo president Salle, who has told Mining Journal of his plans for expansion.

Aya said in December it was in the midst of a 12-month operation and maintenance turnaround plan, three months ahead of schedule and under budget, which once completed should see nameplate capacity achieved of 700tpd or production of about 1 million ounces of silver annually.

Its December quarter production was a record 407,986 ounces, taking annual output to 689,964oz.

Zgounder is an 85:15 joint venture with the Kingdom of Morocco.

Aya is aiming to complete an expansion feasibility study this year.

It ended 2020 with about C$42 million in cash.

Its shares (TSX: AYA) are at a five-year high, closing up about 10% to $5.19 to capitalise it at $490 million (US$386 million).