MONTREAL, July 7, 2022
/CNW Telbec/ - Aya Gold &
Silver Inc. (TSX: AYA) (OTCQX: AYASF) ("Aya" or the
"Corporation") is pleased to report that it has completed the
Front-End Engineering Design ("FEED") with Lycopodium, and to
provide an update on the expansion of the Zgounder Silver Mine in
the Kingdom of Morocco.
"We are pleased to announce the timely completion of the FEED,
which is an important first milestone in Zgounder's expansion,
setting the pace for upcoming deliverables especially the
procurement of long-lead items and the finalization of the plant
construction contract. Our updated, simplified flowsheet keeps
CAPEX and OPEX costs in line with the feasibility study and
improves operability," said Benoit La
Salle, President & CEO. "As we prepare to break ground,
our entire team remains focused on maintaining the highest health
and safety standard while advancing Zgounder on budget and on
Zgounder Expansion Update
As of June 30, 2022, the following
milestones have been achieved:
- Completion of the FEED, including flowsheet modifications.
During the FEED phase, the following was achieved:
- Completion of additional metallurgical test work at the SGS
facilities in Lakefield,
Canada, and at other vendor
- Simplification of the processing plant flowsheet (see exhibit 1
and Appendices), which was a Feasibility Study ("FS")
recommendation. Based on the test work results obtained during the
FEED and a review of the process with Lycopodium Minerals Canada
Ltd. ("Lycopodium"), the Corporation decided to remove the
flotation and CIP circuits and process the whole ore flow in a
leaching circuit, followed by Counter Current Decantation ("CCD")
and a Merrill-Crowe circuit for the silver extraction.
- The new, whole-ore-leach process plant flowsheet will allow for
better process water management and recycling. Furthermore, the CCD
circuit will offer greater operational flexibility and leverage
existing operating expertise.
- Revision and optimization of the process design criteria, mass
and water balances, and the process flow diagrams.
- Initial draft of the piping and instrumentation diagrams, and
issuance of a preliminary process control philosophy document.
- Quotations for 21 mechanical equipment packages, including all
key long-lead items, have been received from a pre-approved list of
- All quotations received are firm price offers. More than 90%
(in value) of the mechanical equipment procurement offers for the
new process plant have been received and re-confirm the process
plant CAPEX and OPEX estimated in the FS.
- A supplier for the ball mill package has been selected, and
final terms and conditions are being negotiated. A purchase order
is expected shortly. When complete, it will be a key milestone
firming up the construction timeline of the project.
- Update and optimization of the 3D model of the plant developed
during the FS:
- Inclusion of placeholders for additional process equipment that
could potentially expand the new process plant capacity from 2,000
tonnes per day ("tpd") to 3,000 tpd with limited adverse
- Award of a contract for the earthworks for the new process
plant and the new haulage road to a major Moroccan contractor.
Mobilisation to site is planned for the second half of July 2022.
- The Corporation is currently in discussions with two
engineering and project delivery companies regarding construction
of the processing plant and expects to receive both offers before
month-end. The Corporation expects to select the contractor and
award the contract in the coming months.
- Groupement des Consultants et Ingénieurs du Maroc ("GCIM"), a
local Moroccan civil engineering firm, has been awarded the
contract for the detailed design of the new Tailings Storage
Facility ("TSF"). Additionally, the Corporation has awarded the
Engineer of Record ("EoR") mandate to EPOCH Resources Pty, a
well-known South African civil engineering company. The companies
have begun to collaborate on the detailed design of the first phase
of the new TSF.
- Following successful construction of the first 60,000 m³ water
storage basin, the Corporation and GCIM are working together to
develop similar water storage facilities to ensure sufficient raw
water storage capacity prior to commissioning of the new process
- Mine underground development on schedule and aligned with the
- A total of 1,130 m of lateral
underground mine development effected to date.
- Mobilisation of CMAC-Thyssen in July
2022 and start of vertical mine development in August 2022.
- The Corporation's internal construction team is complete.
- As of June 30, 2022, the Zgounder
expansion is on budget and on schedule.
An animated video of the Corporation's FS including the updated
flowsheet can be viewed here.
The technical information contained in this news release has
been reviewed and approved by Patrick
Perez, P.Eng, Director of Technical Services, a Qualified
Person as defined under NI 43-101.
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
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 "improves",
"advance", "allow", "offer", "confirm", "expect", "potentially",
"ensure", "expand", ", "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, the capacity of the Company to continue to advance its
expansion plan on time and on budget and the capacity of the
Company to finance its expansion plans. 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 equity or debt
financing required for the construction of the expansion project,
the ability to obtain any requisite governmental approvals and
enter into necessary investment agreements to facilitate the
investment with certain concessions, 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
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 2021 Annual Information Form dated March 31, 2022, 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
SOURCE Aya Gold & Silver