AYA Launches Feasibility Study for the Expansion of its Zgounder Silver Mine in Morocco
PRESS RELEASE
AYA Launches Feasibility Study for the Expansion of its
Zgounder Silver Mine in Morocco
Montreal, Quebec, August 6, 2020 - AYA Gold & Silver Inc. (TSX: AYA) (“AYA” or the “Corporation”)
announces it has launched the feasibility study for the expansion of its Zgounder Silver Mine in
Morocco in partnership with Montreal-based DRA Met-Chem, a division of DRA Global Ltd (“DRA”).
AYA is also engaging several contractors with specific competencies related to the feasibility study.
Additional details on the fieldwork studies and selected consultants will be provided in future press
releases as work progresses.
DRA is globally well recognized for its capabilitie s in mining and mineral processing and for its
experienced engineering, technical and project management expertise. DRA has a deep presence
and experience in successfully delivering similar studies in precious metal projects in the Americas,
Europe, Australasia, Russia and Africa including Mo rocco. For a third year running, DRA has been
recognized as one of the top 100 International Design firms.
The Zgounder Silver Mine currently operates at approximately 500tpd with nameplate capacity at
700tpd. AYA believes that the feasibility study will support a significant increase in tonnage, with a
preliminary target of 2,000tpd. This target will be further defined in the coming months and is
consistent with internal resource growth assumptions.
“The strong silver fundamentals as well as our plan ned drilling exploration program gives us
confidence in growing the resource and the expansion potential of the Zgounder Silver Mine. The
feasibility study is an important step forward to maximize shareholder value,” said Benoit La Salle,
President and CEO of AYA. “We are assembling a highly qualified team of experts to complete the
study by Q4 2021.”
“We are delighted to work with AYA and its team who we know and appreciate”, said Daniel
Gagnon, Senior Vice President at DRA Met-Chem. “We have historically worked in Morocco and
look forward to leveraging our expertise in country and in precious metals to help optimize
production and to deliver value to all stakeholders.”
Qualified Persons
The technical content of this news release has been reviewed by Daniel Gagnon, P.Eng., from DRA
Met-Chem, independent Qualified Person under NI 43- 101 standards, based on the information
received from AYA Gold and Silver technical team (Zgounder Millennium Silver Mine subsidiary).
About AYA Gold & Silver Inc.
AYA Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration,
acquisition and development of silver and gold depo sits. AYA is currently 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.
Its mining portfolio also includes the Boumadine po lymetallic deposit located in the Anti-Atlas
Mountains of Eastern Morocco which is also a joint venture with ONHYM wherein AYA retains an
85% ownership. Additionally, the Corporation’s port folio includes the Amizmiz and Azegour
properties, both being 100% owned, with gold, tungs ten, molybdenum and copper occurrences
covering over 100 square kilometres in a historical mining district of Morocco.
For additional information, please visit AYA’s website at www.ayagoldsilver.com
Or contact:
Benoit La Salle, FCPA FCA
President & CEO
Tel: +1 (514) 951-4411
Be noit. [email protected]
Alex Ball
Corporate Development & IR
Tel: +1 (647) 919-2227
Forward-Looking Statements
This press release contains "forward-looking inform ation" within the meaning of Canadian
securities legislation. All information contained h erein that is not clearly historical in nature may
constitute forward-looking information. Generally, such forward-looking information can be
identified by the use of forward-looking terminolog y such as “will”, “continue”, “provide”,
“present”, “reasonable”, “established”, “has”, “dem onstrate”, “potential”, or variations of such
words and phrases or state that certain actions, ev ents or results "may", "could", "would" or
"might". Forward-looking information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or achievements of
the Corporation to be materially different from those expressed or implied by such forward-looking
information, including but not limited to: (i) volatile stock price; (ii) the general global markets and
economic conditions; (iii) the possibility of write -downs and impairments; (iv) the risk associated
with exploration, development and operations of min eral deposits including the accuracy of the
current mineral reserve and mineral resource estima tes of the Corporation (including, but not
limited to, ore tonnage and ore grade estimates) an d mine plans for the Corporation’s mining
operations (including, but not limited to, throughput and recoveries being affected by metallurgical
characteristics); (v) the risk associated with esta blishing title to mineral properties and assets
including permitting, development, operations and production from the Corporation’s operations
being consistent with expectations and projections; (vi) fluctuations in commodity prices and other
risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the
Corporation and which is available at www.sedar.com , all of which should be reviewed in
conjunction with the information found in this news release
Although the Corporation has attempted to identify important factors that could cause actual
results to differ materially from those contained in the forward-looking information, there may be
other factors that cause results not to be as antic ipated, estimated or intended. There can be no
assurance that such forward-looking information wil l prove to be accurate, as actual results and
future events could differ materially from those an ticipated in such forward-looking information.
Such forward-looking information has been provided for the purpose of assisting investors in
understanding the Corporation's business, operation s and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-
looking information. Forward-looking information is given as of the date of this press release, and
the Corporation does not undertake to update such f orward-looking information except in
accordance with applicable securities laws.