Aya Gold & Silver Inc. [AYA-TSX; MYAGF-OTC] reported additional high-grade T28 drill results from its 2020/2021 drill exploration program at the Zgounder silver mine in Morocco. The T28 drill results further demonstrate high-grade silver continuity along strike and at depth.
T28-20-1975-71 intersected 3,043 g/t silver over 14.4 metres.
T28-20-1975-25 intersected 4,944 g/t silver over 7.20 metres.
T28-20-1975-67 intersected 3,674 g/t silver over 7.20 metres.
T28-20-1975-73 intersected 1,022 g/t silver over 19.20 metres.
Refer to company press release for complete drill results.
The T28 data will be included in the coming resource update and will be used to identify new mineralized areas for short-term mine plans.
The 2021 Zgounder outlook includes silver production of 1.2 million ounces at a silver cash cost of $11.28/oz. A total of 41,000 metres of drilling is planned – 35,000 metres on the Zgounder mining permit and 6,000 metres on Zgounder regional exploration permits.
There are two resource estimates planned: one expected in Q1 2021 and one in Q4 2021, as part of the Zgounder feasibility study. The Zgounder capacity expansion feasibility study to 2,000 tonnes per day expected to be completed in Q4 2021.
“Two thousand twenty-one will be an important year that solidifies the foundation of our three pillars of value creation. The expanded exploration program will build on the successful 2020 drill results, including today’s all-time best drill result, which highlight the prospectivity of Zgounder and validate our objective of increasing the current resource. The 2021 production guidance, which represents a 74% increase over 2020 production, is a clear indication of the momentum started by recent operational improvements at Zgounder. We will have a clear path to increasing annual production to over 4 million oz/year as we complete the capacity expansion feasibility study,” said Benoit La Salle, President and CEO.
Exploration involving fieldwork, geophysics and 9,000 metres of drilling will begin on other Morocco properties, including Imiter-bis with 4,000 metres of drilling; Azegour with 2,500 metres; and the Amizmiz properties with 2,500 metres.
Aya is operating mining and milling facilities at its Zgounder silver mine, an 85%/15% joint venture between its subsidiary, ZMSM, and the Office National des Hydrocarbures et des Mines (ONHYM) of the Kingdom of Morocco.
In February trading, shares of Aya gained $0.67 to $5.57, up 13.8%, on a volume of 1,155,800.