MONTREAL, Feb. 9, 2023
/CNW Telbec/ - Aya Gold &
Silver Inc. (TSX: AYA) (OTCQX: AYASF) ("Aya" or the
"Corporation") is pleased to provide guidance and a corporate
outlook for the Corporation's activities in the Kingdom of
Morocco. All dollars are in U.S.
dollars, unless otherwise stated.
Zgounder Production Guidance and
Corporate Outlook
The Corporation's 2023 outlook outlines annual silver
production, an exploration program for Zgounder, Zgounder Regional
and Boumadine, and on-going sustainability initiatives.
- Silver ("Ag") production of between 1.7 and 1.9
million ounces ("Moz"), in-line with 2022
- Silver cash cost of $14.40/oz1, a temporary increase
mainly driven by development plans related to the Zgounder Mine
expansion, mining costs, and additional on-site health and safety
initiatives
- Exploration budget of $14.3
million of which $8.8
million is allocated to Zgounder
-
- 32,700 metres ("m") of drilling planned at Zgounder including
26,000m and 6,700m at Zgounder and Zgounder Regional,
respectively
- 36,000m of diamond drill hole
("DDH") drilling at Boumadine to support a new resource
estimate
- Continued mine ramp-up activities to achieve plant expansion
requirements. This includes the beginning of open-pit
activities in Q2-2023, the delivery of the ball mill in Q3-2023 and
the completion of over 5,000m of
annual development.
"2023 will be an important year for Aya's trajectory, which sets
the stage for a quadrupling of production over the next 18 months
along with substantially lower costs," said Benoit La Salle, President & CEO. "We expect
to sustain the past record year through 2023 with strong execution
on our production and development plans in addition to an
aggressive and growing drill exploration program, which we believe
will deliver growth for stakeholders."
"Exploration will remain a key focus in 2023, with drilling
programs prioritized at Zgounder, Zgounder Regional and Boumadine.
We are especially excited to provide more visibility on Boumadine's
potential for near-term value creation as we increase drilling
activities to support a new resource estimate."
_______________________________
|
1.
|
The Corporation reports
non-GAAP measures, which include cash costs per silver ounce, which
are widely used in the mining industry as a benchmark for
performance, but do not have a standardized meaning and the methods
used by the Corporation to calculate such measures may differ from
methods used by other companies with similar descriptions. See
"Non-GAAP Measures" on pages 12 and 13 of the Corporation's Q3-2022
MD&A for a reconciliation of non-GAAP to GAAP
measures.
|
2023 Zgounder Guidance
Zgounder
|
2023
Guidance
|
Silver production (M
oz)
|
1.7 – 1.9
|
Silver cash cost
($/oz)
|
14.4
|
Recovery (%)
|
86
|
Tonnes processed ('000
tonnes)
|
245
|
Average grade processed
(g/t Ag)
|
264
|
|
|
Exploration budget
(USD$ millions)
|
14.3
|
2023 Exploration Program to Focus
on Growth
An exploration budget of $14.3
million has been planned for 2023, with Zgounder
(26,000m), Zgounder Regional
(6,700m) and Boumadine (36,000m) being the focus.
At Zgounder, 26,000m of the
32,700m DDH program have been
designed to expand current resources at depth, building on the
successful 2021 and 2022 drill programs. A total of 6,700m of DDH will be completed on the Zgounder
Regional permits to follow up on 2022 results and test new
targets.
At Boumadine, a 36,000m drill
exploration program has been established, of which 21,000m will focus along the main trend and
15,000m is budgeted to continue
extending the known mineralization trend along strike and at depth.
New conductive targets identified with the 3D electromagnetic model
(from our 2022 airborne survey) will also be tested.
A new mineral resource estimate for Boumadine is expected in
2024, which will incorporate drilling data from 2018 through 2023.
At year-end 2022, drilling at Boumadine totalled 30,411m in 176 drill holes.
2023 Sustainability
Outlook
In 2023, the Corporation's primary sustainability focus will be
to solidify its management processes with the goal of minimizing
the environmental and social impacts from current and expanded
operations, while continuously enhancing its safety culture.
2023 Sustainability Highlights
- Continue implementation of the Environmental and Social
Management System, including the Zgounder land acquisition and
livelihood restauration plan and the stakeholder engagement plan as
published on the Corporation's website
- Focus on health and safety at our operating and development
sites, including mine rescue and emergency readiness
- New partnership with the Moroccan forestry services to
re-vegetate portions of the Zgounder property with locally adapted
tree species
- Increase data gathering and environmental monitoring at
Zgounder, and perform Scope 3 GHG emissions estimation
- Continue local initiatives through Aya's four-pronged community
program:
-
- Health - Regular mobile health clinics in partnership with
Moroccan institutions and community organizations
- Water - Potable water infrastructure projects to provide
communities with access to clean water and resilience to climate
change
- Education - Construction and furnishing of a library for
Askaoun's Dar Taleb (residence for
secondary school students)
- Income-generating activities - Training and awareness campaigns
on entrepreneurship and business management
2022 Financial and Operational
Results
The Q4-2022 and full year 2022 financial and operational results
will be released before market on March 29,
2023.
David Lalonde, B.Sc, Head of
Exploration, designated as a Qualified Person under National
Instrument 43-101, has reviewed and approved the technical
information contained in this press release.
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 is focused on maximizing 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 "guidance",
"outlook", "temporary", "plan", "achieve", "expects", "believe",
"potential", "expand", "continue", "objective", "significant",
"deliver", "plan", "scheduled", "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 of the
corporation to meet its guidance namely its capacity to achieve
silver production of between 1.7 and 1.9 Moz, its capacity to
achieve a cash cost of $14.40/oz and
for such cost to be temporary, its capacity to execute on its
planed exploration budget of $14.3
million, its capacity to continue mine ramp-up activities to
achieve plant expansion requirements, to receive the ball-mill on
time and complete ramp up as scheduled, its capacity to sustain
past production, the drill program achieving growth for parties,
its capacity to increase resource at Zgounder or establish
resources at Boumadine namely within 2023, its capacity to execute
on its sustainability plans and objectives, 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
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 2021 Annual Information Form dated June 16, 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
requires otherwise.
SOURCE Aya Gold & Silver
Inc