MONTREAL, Dec. 9, 2021 /CNW Telbec/ - Aya Gold
& Silver Inc. (TSX: AYA) ("Aya" or the "Corporation")
is pleased to provide an update on the feasibility study for the
Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights
- Appointment of Lycopodium Minerals Canada Ltd. ("Lycopodium")
to deliver the front-end engineering design ("FEED") of the new
mineral processing plant, for expected completion in early
Q2-2022
- Detailed design has commenced on a first phase of over 4,400
meters ("m") of mine infrastructure
-
- Contract allocation is ongoing with mobilization of selected
contractors planned by early Q1-2022
- Development of the procurement and construction strategy in
parallel to the FEED
- Requisition of new mining equipment including two scissor
lifts, two scoops and a dumper truck
- Appointment of an experienced construction team led by Joël
Desmeules, P. Eng., a seasoned construction manager with experience
in Canada and North Africa
- The Zgounder Silver Mine expansion feasibility study, which
will increase the milling rate by 2,000 tonnes per day ("tpd") for
a total of 2,700 tpd, will be published in Q1-2022
"We are completing the Zgounder feasibility study, which follows
a very successful drill exploration program and is based on an
updated and comprehensive geological model. We have also hired a
proven and highly experienced team, which is key to a successful
construction project. We have a unique opportunity to leverage a
cornerstone asset to deliver stakeholder value and make a real
impact locally and internationally with our partners," said
Benoit La Salle, President &
CEO.
Timeline of Feasibility Study and FEED of the New Mineral
Processing Plant
A new mineral resource estimate for the Zgounder Silver Mine
will be released before year-end. Delivery of the resulting
feasibility study for a 2,000 tpd mine and milling expansion, is
also nearing completion, and expected by Q1-2022. This is expected
to bring total capacity of the Zgounder Silver Mine to 2,700 tpd.
The Corporation has mandated Lycopodium to carry out the FEED of
the mineral processing plant. Process flowsheet, mass balance and
other design criteria are at a stage where further engineering can
begin. Completion of the FEED is anticipated by Q2-2022, in line
with the original timeline for the project. The Corporation
continues to be pro-active in managing the timeline, which has not
been affected by the COVID-19 virus.
New Mine Infrastructure and Construction Team
External and internal resources have been allocated to
developing the mine infrastructure and engineering. A first phase
of mine development involving over 4,400m will begin in early Q1-2022. Selection of
contractors is underway for mobilization in the coming weeks. The
Corporation is continuing to expand its underground fleet with the
purchase of two scissor lifts, two scoops and a dumper truck.
Completion of the first phase, which includes ventilation raises,
multiple level accesses, ore and waste chutes, is expected to take
15 months. The new infrastructure build-out will increase capacity
from 700 tpd to 2,700 tpd in addition to also stabilizing
production long-term.
As part of its procurement and construction strategy for the
project and its ancillary services, the Corporation is currently in
discussions with a number of engineering and construction
companies. The construction team will be led by Joël Desmeules,
P.Eng., the previous construction manager of the recent Tasiast
plant expansion in Mauritania.
Joel will be responsible for coordinating all Zgounder-related
construction activities.
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 "expected",
"planned", "will", "anticipated", "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
capacity to produce and deliver various engineering studies and
technical reports including FEED design, resources updates and
feasibility studies on schedule, 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 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. 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 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