MONTREAL,
March 15, 2022 /CNW
Telbec/ - Aya Gold & Silver
Inc. (TSX: AYA) ("Aya" or the "Corporation") is pleased to
report that its subsidiary, Zgounder Millennium Silver Mining S.A.,
has signed an interconnection agreement with the Office National de
L'Électricité et de l'Eau Potable ("ONEE"), Morocco's state-owned utility, for the
construction of a 90-kilometer, 60-kilovolt ("kV") powerline and
substation upgrades. This agreement ensures access to clean energy
long-term from ONEE's electrical grid. The line will be built over
the next two years and will be capable of supporting Zgounder's
projected expanded power requirements.
The Moroccan grid is highly interconnected, built on a 400kV
transport backbone. The country has 10,627MW of production capacity
with over 37% provided from renewable energy sources (hydro, wind
and solar). This interconnection provides the Corporation with a
gateway to powering its project with 100% renewable energy.
Additionally, Aya intends to sign a power purchase agreement
("PPA") with an independent power producer to purchase 100%
renewable energy for its project's power needs. This will enable it
to achieve zero Scope 2 emissions in 2024 and generate an over 85%
reduction in the carbon intensity of the Zgounder Silver Mine (see
Figure 1). Scope 2 encompasses indirect greenhouse gas ("GHG")
emissions associated with the Corporation's consumption of
purchased electricity but occurring at the facility where the
electricity is generated.
"Deepening our ties with ONEE allows Zgounder to benefit from
reliable and affordable power and is a significant step towards
decarbonization," said Benoit La
Salle, President & CEO. "We look forward to partnering
with one of the many renewable energy providers in Morocco, allowing our operations to be powered
entirely by renewable energy. In addition to locking in cost
savings at Zgounder, we expect the PPA to offer customized
flexibilities and to help us reach the class-leading figure of 4.8
tonnes of CO2 per thousand of tonnes of ore processed."
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",
"expand", "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