Morocco confirms its position as Africa's leading silver producer with resource estimates on the rise
#Africa #Canada #Company #EconomicAnalysis #Economy #Entreprises #Mine #Silver #MOROCCO
Denys Bédarride
Tuesday 21 December 2021 Last update on Tuesday, December 21, 2021 At 1:12 PM

In the first quarter (2021), Aya Gold & Silver announced a 340% increase in indicated and measured mineral resources at its Zgounder silver mine. They then exceeded 44.4 million ounces.

In Morocco, Canadian mining company Aya Gold & Silver released a new resource estimate for its Zgounder silver mine on December 14. The asset is now believed to house 96.1 million ounces of measured and indicated resources, more than double the resources identified in the estimate released last March.

It is the fruit, we learn, of the exploration campaign carried out between January and the beginning of September 2021. previously identified resources and extend mineralization in the eastern part of the deposit.

Measured resources drop from 34.9 million ounces to 39.2 million ounces, while indicated resources now exceed 56 million ounces against less than 10 million ounces in the March estimate. Note that Zgounder is also home to 6.4 million ounces of inferred silver.

“We are pleased that our 2021 exploration program at Zgounder has resulted in an updated mineral resource estimate […]. Based on our recent drilling results, we remain confident in our ability to further increase this mineral resource, ”commented Benoit La Salle, CEO of the company.

It should be noted that this update comes as the company is preparing a feasibility study to expand Zgounder’s production capacity. Scheduled to end in the first quarter of 2022, it involves an increase in the throughput of the processing plant from 2,000 tonnes per day to 2,700.

The new estimate should therefore strengthen the company in its plans while allowing it, says Aya, to make its first estimate of mineral reserves.

Recall that Zgounder is one of the main contributors to Morocco’s position as the leading African silver producer. Aya Gold & Silver is forecasting 1.55 million ounces of production at the mine this year.

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