Aya Gold & Silver Surpasses Nameplate Milling Capacity at Zgounder Silver Mine’s New Processing Plant
PRESS RELEASE
Aya Gold & Silver Surpasses Nameplate Milling Capacity at
Zgounder Silver Mine’s New Processing Plant
Montreal, Quebec, January 23, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or
the “Corporation”) is pleased to announce that it has reached and surpassed the nameplate milling
capacity at its 100% owned Zgounder Mine located in the Kingdom of Morocco.
The new plant began processing ore on November 4th, 2024. The first silver pour was achieved on
November 27th, with commercial production reached on December 29th, less than two months after
the new plant began processing the first ore.
Over a consecutive 30-day period ending on January 20th, 2025, the new plant processed a total of
65,990 tonnes (“t”) of ore, an average of 2,200 tonnes per day (“tpd”), and equivalent to 110% of
nameplate capacity. Processing rates averaged 96 tonnes per hour (“tph”), at 96% availability. Silver
recovery was 85%.
Between January 11th and January 20th, mill throughput averaged 2,239 tpd, with mill availability and
silver recovery at 98% and 89%, respectively. Recovery improved consistently as processing
parameters were adjusted and grade fed to the plant increased.
As of January 18th, the flotation plant slurry was successfully integrated into the new plant’s leaching
circuit. Since then, the combined processing rate of both plants has averaged over 2,900 tpd with a
recovery rate exceeding 90%. This integration enables the exclusive production of silver doré,
eliminating the previous mix of silver concentrate and doré, increasing the payable value of silver
produced.
In the coming months, the goal is to stabilize the combined processing rate at Zgounder above 3,000
tpd while maintaining or exceeding the recovery rate of 89% determined in the feasibility study.
Soutex, a Canadian consulting firm specializing in mineral processing and metallurgy, recently
conducted a study analyzing the time required to ramp up mineral processing plants from the first
ore in the mill to achieving nameplate capacity (Figure 1). The study identified the new Zgounder plant
as delivering amongst the quickest ramp-up performance to nameplate capacity, showcasing the
robustness of the plant.
“I am proud to announce the ramp -up of the new plant at Aya’s expanded Zgounder mine,
where we are now operating above nameplate capacity just weeks after achieving
commercial production,” commented President & CEO Benoit La Salle. “The performance of
the now integrated operations at Zgounder reflects the exceptional expertise and
commitment of the Aya team and sets the stage for strong production performance in 2025.”
Figure 1 – The dataset below was compiled by Soutex and shows the ramp up time for Zgounder’s
new plant to reach design capacity, which is the shortest (tied with another project) compared to 100+
other mineral processing plants. Database from Rollins and Lam (2017) [1] in comparison with
Soutex’s experience [2].
[1] Rollins, D. and W. Lam. Ramp-ups: What to expect when expecting a new mine. RBC Markets Precious Metals and
Minerals. September 17th, 2017.
[2] Bouffard, D., A. Berton, S. Gariépy and D. Roy. Plant Commissioning: overcoming challenges and ensuring success. 57th
Annual Canadian Mineral Processors Operators Conference, 2025, Ottawa, Canada.
Raphaël Beaudoin, P.Eng., Vice President, Operations of the Company, is a Qualified Person as
defined by NI 43-101. Mr. Beaudoin has reviewed the technical information in this news release and
approves the written disclosure contained herein.
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, subject to the announcement of September 12, 2024,
will be developed by Mx2 Mining, a new spinout gold-growth company.
Aya Gold & Silver
Zgounder Plant
0
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500 5000 50000
DB (R&L)
Soutex DB
Throughput (t/day)
Nb of Quarter to design capacity
Aya Gold & Silver
Zgounder Plant
Aya’s management team has been focused on maximising 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.
Or contact
Benoit La Salle, FCPA, MBA
President & CEO
Alex Ball
VP, Corporate Development & IR
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, business prospects and other opportunities. Wherever
possible, words and 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 words such as “increase”, “goal”, “maintain”, “exceed”, “continued up”, and other
statements and information with respect to Aya’s capacity to stabilize the combined processing rate
at Zgounder above 3,000 tpd while maintaining or exceeding the recovery rate of 89%, its capacity to
deliver continued operational performance, its capacity to reach short term and long term objectives,
the capacity to generate future cash flows and to ramp up its activities. 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 new plant’s operation
according to expectations and specifications, ramp up of activities continuing as planned, the EPC
contractor meeting its contractual obligations, the ability to obtain any requisite governmental
approvals, 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, 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 reliance on
one EPC provider and its subcontractors in the Zgounder expansion project, 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 2023 Annual Information Form dated March 28, 2024, and in other filings of Aya
with securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. 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.