MONTREAL, June 28, 2021 /CNW Telbec/ - Aya Gold & Silver Inc. (TSX: AYA)
("Aya" or the "Corporation") is pleased to announce that it has
been granted seven new exploration permits by Morocco's Ministry of Energy, Mines and
Environment, increasing its total land position by 40% within its
Zgounder Regional and Azegour area properties. The additions form
part of Aya's strategy to consolidate its land position within the
highly prospective Anti-Atlas region in the Kingdom of Morocco.
Zgounder Permit Highlights
- Grant of five permits within the prolific Zgounder Regional
area, increasing Aya's exploration land holdings from 112
km2 to 168 km2
- The new permits are located in a known
copper-gold-silver-bearing area
Azegour Permit Highlights
- Grant of two permits in the Azegour area covering a total of 29
km2
- Both properties lie directly adjacent to the Azegour mining
permit
- The new permits are located adjacent to the Azegour granite
intrusion, and host historical copper, lead and zinc
occurrences
- Mining permits and exploration land holdings in the Azegour
area now total 129 km2
"We are excited to be adding these seven new permits, which
materially increase our land holdings adjacent to existing mapped
development projects and strengthen our mining commitment in
Morocco. These acquisitions enable
us to leverage our existing regional knowledge and infrastructure
to identify potential geological showings that can ultimately be
drilled up to grow our resource base and enhance shareholder value
for all stakeholders. Exploration on the permits is scheduled to
begin in the coming months," said Benoit La
Salle, President & CEO.
Zgounder Permit Update
The five newly acquired Zgounder Regional properties are located
on the western flank of the Sirwa Massif of the Anti-Atlas
Mountains, on the southern flank of the High-Atlas Mountains, and
in the eastern portion of the Askaoune granite.
In addition to sharing a similar geological context to Zgounder,
the new permits host historically mapped copper, gold, silver, lead
and zinc occurrences that are closely related to major structural
features (see Figure 1). As shown by the ongoing high-grade silver
results returned by recent core drill programs on Zgounder, the
Zgounder Regional area offers significant mineral potential.
Azegour Permit Update
The two newly granted permits increase Aya's exploration land
coverage by 29 km2 in the vicinity of its Azegour
property, located about 80 kilometers south-southwest of Marrakech.
Both permits lie directly adjacent to the Azegour granite
intrusion, whose metamorphic rocks have created numerous gold,
molybdenum, tungsten, and copper mineral deposits of interest
within its contact aureole, more specifically in its calcareous
layers. To date, the most interesting deposits have been discovered
in the central and western layers. The old Azegour Mine, which is
believed be a typical copper-molybdenum skarn deposit, was
developed in the central layer at the most southern location (see
Figure 2).
In addition to the prospective geological setting, the new
permits host historical copper, lead and zinc occurrences.
Qualified Person
Marc-Antoine Audet, Ph.D. P. Geo,
Geological Consultant, is Aya Gold
& Silver's Qualified Person and has reviewed this press release
for accuracy and compliance with National Instrument 43-101.
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.
Since its appointment in mid-2020, Aya's new management team has
been focused on maximising 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.
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 2020 Annual Information Form dated March 31, 2021, 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