Aya Gold & Silver increase Boumadine Mineral Resource Estimate, Morocco
Aya Gold & Silver Inc. [TSX: AYA; OTCQX: AYASF] reported an updated NI 43-101 Mineral Resource Estimate (MRE) for its Boumadine Project in the Kingdom of Morocco.
The updated MRE contains an Inferred Mineral Resource of 29.2 million tonnes (Mt) at 82 g/t silver, 2.63 g/t gold, 2.11% zinc and 0.82% lead containing an estimated 76.8 million ounces (Moz) of Ag, 2.4Moz of Au, 615,000 tonnes (kt) of Zn and 237 kt of Pb and an Indicated Mineral Resource of 5.2Mt at 91 g/t Ag, 2.78 g/t Au, 2.8% Zn and 0.85% Pb containing an estimated 15.1 Moz of Ag, 449 kilo ounces (koz) of Au, 145 kt of Zn and 44 kt of Pb.
Highlights: Indicated Mineral Resources of 5.2Mt at 91 g/t Ag, 2.78 g/t Au, 2.8% Zn and 0.85% Pb containing an estimated 15.1 Moz of Ag, 449 koz of Au, 145 kt of Zn and 44 kt of Pb. Representing 74.4 Moz Silver equivalent (AgEq), an increase of 120%.
Inferred Mineral Resources of 29.2 Mt at 82g/t Ag, 2.63 g/t Au, 2.11% Zn and 0.82% Pb containing an estimated 76.8 Moz of Ag, 2.4 Moz of Au, 615 kt of Zn and 237 kt of Pb. Representing 378Moz AgEq, an increase of 19%.
49% of the Inferred Mineral Resource is pit-constrained and reported above a cut-off net smelter royalty (NSR) value of $95/t, and 51% deemed for underground development NSR cut-off value of US$125/t.
Additional mineral resource potential to expand the deposit in all directions for future mineral resource estimation. With a land package of 271.5 km2 in addition to a 600 km2 exploration authorization, new targets are being tested.
“We are pleased to announce an updated Mineral Resource Estimate for Boumadine, marking a 120% increase in indicated resources and 19% in inferred resources since our April 2024 update,” said Benoit La Salle, President & CEO. “In under three years, we have grown silver and gold ounces across all classifications, demonstrating the team’s ability to identify and grow Boumadine into a world class asset.
“Drilling has primarily focused on the mining permit, which represents only a small portion of the broader mineralized footprint. Over the past two years, we have expanded our footprint by nearly 850% and continue to consolidate the area while aggressively testing extensions of known mineralized trends. Additionally, ongoing metallurgical studies are yielding promising results as we advance the project toward large-scale development.”
Most of the deposit has been drilled on a 100m x 50m spacing grid through N70 cross-sections. In the northern and southern sections, the spacing was extended to 200m x 100m. The Indicated Mineral Resource was infilled to 50m x 50m grid spacing.
Mineral Resource and Estimation Methodology: 84% of the Mineral Resource Estimate is classified as Inferred, and the remaining 16% in the Indicated category.
The geological domain boundaries were determined using a cut-off grade of 100 g/t Ag equivalent. Mineral Resources are reported using NSR values of US$125/t for the out-of-pit and US$95/t for the open-pit.
The mineralization at Boumadine starts at surface and continues down to more than 600m in depth, making the MRE appropriate for a combination of open pit and underground mining.
Prior to 2020, the Boumadine Project had seen limited near-mine drilling and no regional exploration. Since 2022, the Aya team has conducted over 140,000 metres of DDH programs on the mining permit with the goal of delivering a MRE.
Significant upside potential exists to expand the Boumadine Main Trend, which currently covers 5.4km of strike length and remains open in all directions. Through 2025, the corporation plans to mobilize eleven diamond and three reverse circulation drill rigs to complete the 140,000m drilling program. Half of the program will test the continuation of the known trends (Boumadine and Tizi) and infill. The remaining 50% will focus on geological targets generated by previous work and will be informed by the hyperspectral survey, high-resolution geophysical survey and the mapping and prospecting campaigns. As the MobileMT survey shows, there is a strong relation between apparent conductivity and Boumadine type mineralization. A total of 24 new permits have been acquired in the vicinity of the Boumadine permits since June 2023. The results from ongoing geology work will determine additional development work.