MONTREAL, Feb. 16,
2023 /CNW/ - Aya
Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF)
("Aya" or the "Corporation") is pleased to announce that its
subsidiary, Zgounder Millennium Silver Mining SA, has entered into
a 20-year Power Purchase Agreement (the "PPA") with Energie
Éolienne du Maroc ("EEM"), a subsidiary of Nareva, for the
procurement of renewable energy starting upon completion of the
Zgounder Project expansion.
The PPA will allow the new and existing Zgounder processing
plants and surrounding infrastructure to operate predominantly with
renewable electricity and supports the Corporation's objective of
implementing responsible mining and climate change initiatives in
the Kingdom of Morocco.
Specifically, the PPA allows Aya to achieve up to zero Scope 2
emissions once the new plant is in operation and reduces carbon
intensity by 85% over the same period. Scope 2 emissions comprise
of indirect greenhouse gas ("GHG") emissions associated with the
Corporation's consumption of purchased electricity, including the
facility where the electricity is generated.
PPA Contract Highlights:
- Pay-As-You-Go agreement for 80 gigawatt hours annually;
- Electricity will be generated from EEM's renewable energy
projects and transmitted through the national electric grid to the
mine;
- Up to 100% of the mine's electricity consumption could be
covered by the PPA;
- Price of electricity is decoupled from global oil prices;
and
- PPA will avoid up to 56,000 tonnes ("t") of CO2
equivalent emissions1.
"The use of wind energy as our principal source of power
demonstrates our commitment to responsible mining and climate
change initiatives, which is a critical focus for all stakeholders.
We are also proud to be engaging in a long-term relationship with
EEM, further supporting the development of renewable energy in
Morocco," said Benoit La Salle, President and CEO.
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1 Carbon
intensity of electricity in Morocco is ~0,7kg/kwh
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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 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 "plans", "expects",
"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 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 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