Aya Gold & Silver Inc. (TSX: AYA; OTCQX:
AYASF) (“Aya” or the “Corporation”) is pleased to announce an
updated Mineral Resource Estimate (“MRE”) prepared in accordance
with National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) at its Boumadine Project in the
Kingdom of Morocco. The updated MRE contains an Inferred Mineral
Resource of 29.2 million tonnes (“Mt”) at 82 grams per tonne
(“g/t”) silver (“Ag”), 2.63 g/t gold (“Au”), 2.11% zinc (“Zn”) and
0.82% lead (“Pb”) containing an estimated 76.8 million ounces
(“Moz”) of Ag, 2.4Moz of Au, 615 thousand 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
square kilometers (“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.”
Boumadine Mineral Resource
The MRE is effective as of February 24, 2025,
and includes drilling conducted from 2018 through December 1, 2024.
The database comprises 428 surface diamond drill holes (“DDH”),
totaling 142,268 meters (“m”). For this updated MRE, 93 new DDH,
totaling 44,514m, were incorporated.
Historical mining was not depleted from the MRE
as the exact position and physical extent could not be accurately
measured. From the historical production reports, approximately
261kt of mineralized material were extracted and processed (less
than 1% of the current MRE), therefore it is considered not
material. Historical tailings were excluded from the MRE since the
bulk density, volumes and grades were not properly evaluated.
Molybdenum was excluded from both the cut-off and AgEq/AuEq
calculations since the process recoveries were not evaluated.
Table 1 –Boumadine MRE, as of February
24, 2025 (1-12)
|
Cutoff |
Tonnes |
Average Grade |
Contained Metal |
Ag |
Au |
Cu |
Pb |
Zn |
AgEq |
AuEq |
Ag |
Au |
Cu |
Pb |
Zn |
AgEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(g/t) |
(%) |
(%) |
(%) |
(g/t) |
(g/t) |
(koz) |
(koz) |
(kt) |
(kt) |
(kt) |
(koz) |
(koz) |
Pit-constrainedIndicated |
95 |
3,920 |
94 |
2.99 |
0.13 |
0.84 |
2.95 |
476 |
5.30 |
11,881 |
343 |
5 |
33 |
116 |
60,051 |
667 |
Pit-constrainedInferred |
95 |
14,258 |
90 |
2.89 |
0.10 |
0.81 |
2.38 |
450 |
5.00 |
41,135 |
1,102 |
14 |
115 |
339 |
206,293 |
2,293 |
Out-of-pitIndicated |
125 |
1,249 |
80 |
2.11 |
0.08 |
0.87 |
2.32 |
358 |
3.98 |
3,216 |
106 |
1 |
11 |
29 |
14,382 |
160 |
Out-of-pitInferred |
125 |
14,938 |
74 |
2.39 |
0.07 |
0.82 |
1.85 |
357 |
3.97 |
35,669 |
1,294 |
10 |
122 |
276 |
171,393 |
1,905 |
TotalIndicated |
95/ 125 |
5,169 |
91 |
2.78 |
0.12 |
0.85 |
2.80 |
448 |
4.98 |
15,097 |
449 |
6 |
44 |
145 |
74,433 |
827 |
TotalInferred |
95/ 125 |
29,196 |
82 |
2.63 |
0.08 |
0.82 |
2.11 |
402 |
4.47 |
76,804 |
2,396 |
25 |
237 |
615 |
377,686 |
4,198 |
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- Mineral Resources are not Mineral
Reserves and do not have demonstrated economic viability. The
estimate of Mineral Resources may be materially affected by
environmental, permitting, legal, title, taxation, socio-political,
marketing, or other relevant issues. There is no certainty that
Mineral Resources will be converted to Mineral Reserves.
- The Inferred Mineral Resource in
this estimate has a lower level of confidence than that applied to
an Indicated Mineral Resource and must not be converted to a
Mineral Reserve. It is reasonably expected that the majority of the
Inferred Mineral Resource could be upgraded to an Indicated Mineral
Resource with continued exploration.
- The Mineral Resources in this news
release were estimated in accordance with the Canadian Institute of
Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral
Resources and Mineral Reserves Definitions (2014) and Best
Practices Guidelines (2019) prepared by the CIM Standing Committee
on Reserve Definitions and adopted by the CIM Council, as may be
amended from time to time.
- A silver price of US$24/oz with a
process recovery of 89%, a gold price of US$2,200/oz with a process
recovery of 85%, a zinc price of US$1.20/lb with a process recovery
of 72%, a lead price of US$1.00/lb with a process recovery of 85%,
and a copper price of US$4.00/lb with a process recovery of 75%
were used in establishing the MRE.
- AgEq = Ag(g/t) + (Au(g/t) *Au
price/oz*Au recovery)/(Ag price/oz*Ag recovery) + Zn(%)*Zn
price/lb* Zn recovery/(Ag price/oz*Ag recovery)*685.7147973 +
Pb(%)*Pb price/lb* Pb recovery/(Ag price/oz*Ag
recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu recovery/(Ag
price/oz*Ag recovery)*685.7147973
- AuEq = Au(g/t) + (Ag(g/t) *Ag
price/oz*Ag recovery)/(Au price/oz*Au recovery) + Zn(%)*Zn
price/lb* Zn recovery/(Au price/oz*Au recovery)*685.7147973 +
Pb(%)*Pb price/lb* Pb recovery/(Au price/oz*Au
recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu recovery/(Au
price/oz*Au recovery)*685.7147973.
- The constraining pit optimization
parameters were US$3.5/t for mineralized material mining. US$2/t
for waste mining US$89/t for processing and US$6/t for G&A
totalling US$95/t for a cut-off and 50-degree pit slopes.
- The out-of-pit parameters used a
US$30/t mining cost, US$89/t processing cost and US$6/t G&A
totalling US$125/t for a cut-off The out-of-pit Mineral Resource
grade blocks were quantified above the US$125 NSR cut-off, below
the constraining pit shell and within the constraining mineralized
wireframes. Out–of-pit Mineral Resources exhibit continuity and
reasonable potential for extraction by the long hole underground
mining method.
- Individual calculations in tables
and totals may not sum due to rounding of original numbers.
- Grade capping of 800 g/t Ag,
30 g/t Au, 28% Zn, 10% Pb and 1.4% Cu was applied to
composites before grade estimation.
- Bulk density was evaluated
separately for each individual vein with values ranging from 3.20
to 4.00 t/m3 determined from drill core samples and used for the
MRE. For oxidized and transitional material, a bulk density of
2.65 t/m3 was used.
- 1.0 m composites were used during
grade estimation.
Tables 2 and 3 – Cut-Off Sensitivity
MRE (1-12)
Indicated InPit and Underground Resources |
UG-OP |
Tonnes |
Ag |
Ag |
Au |
Au |
Cu |
Pb |
Zn |
AgEq |
AgEq |
AuEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(koz) |
(g/t) |
(koz) |
(%) |
(%) |
(%) |
(g/t) |
(koz) |
(g/t) |
(koz) |
145-120 |
4,472 |
97 |
13,923 |
3.05 |
439 |
0.12 |
0.86 |
2.75 |
484 |
69,632 |
5.40 |
777 |
140-115 |
4,625 |
95 |
14,110 |
2.99 |
444 |
0.12 |
0.86 |
2.72 |
476 |
70,751 |
5.30 |
788 |
135-110 |
4,791 |
93 |
14,359 |
2.92 |
450 |
0.12 |
0.86 |
2.69 |
467 |
71,933 |
5.20 |
801 |
130-105 |
4,932 |
92 |
14,547 |
2.86 |
453 |
0.12 |
0.85 |
2.66 |
460 |
72,898 |
5.11 |
810 |
125-95 |
5,169 |
89 |
14,863 |
2.77 |
460 |
0.11 |
0.84 |
2.63 |
448 |
74,433 |
4.98 |
827 |
120-90 |
5,298 |
88 |
15,008 |
2.72 |
463 |
0.11 |
0.83 |
2.60 |
442 |
75,250 |
4.90 |
834 |
115-85 |
5,481 |
87 |
15,265 |
2.66 |
469 |
0.11 |
0.82 |
2.57 |
433 |
76,364 |
4.81 |
848 |
110-80 |
5,648 |
85 |
15,477 |
2.60 |
473 |
0.11 |
0.81 |
2.55 |
426 |
77,320 |
4.73 |
858 |
105-75 |
5,820 |
84 |
15,683 |
2.54 |
476 |
0.10 |
0.80 |
2.53 |
418 |
78,268 |
4.64 |
868 |
90-60 |
6,284 |
79 |
16,061 |
2.39 |
483 |
0.10 |
0.78 |
2.46 |
399 |
80,571 |
4.40 |
890 |
Inferred InPit and Underground
Resources |
UG-OP |
Tonnes |
Ag |
Ag |
Au |
Au |
Cu |
Pb |
Zn |
AgEq |
AgEq |
AuEq |
AuEq |
NSR US$/t |
(kt) |
(g/t) |
(koz) |
(g/t) |
(koz) |
(%) |
(%) |
(%) |
(g/t) |
(koz) |
(g/t) |
(koz) |
145-120 |
24,023 |
90 |
69,342 |
2.86 |
2,211 |
0.09 |
0.87 |
2.14 |
441 |
340,641 |
4.90 |
3,786 |
140-115 |
25,128 |
88 |
70,937 |
2.80 |
2,261 |
0.09 |
0.86 |
2.12 |
432 |
349,042 |
4.80 |
3,880 |
135-110 |
26,218 |
86 |
72,627 |
2.73 |
2,304 |
0.08 |
0.85 |
2.10 |
424 |
357,154 |
4.71 |
3,970 |
130-105 |
27,538 |
84 |
74,537 |
2.66 |
2,355 |
0.08 |
0.83 |
2.08 |
414 |
366,533 |
4.60 |
4,074 |
125-95 |
29,196 |
82 |
76,803 |
2.57 |
2,413 |
0.08 |
0.82 |
2.06 |
402 |
377,685 |
4.47 |
4,198 |
120-90 |
30,517 |
80 |
78,494 |
2.51 |
2,463 |
0.08 |
0.80 |
2.03 |
394 |
386,356 |
4.38 |
4,294 |
115-85 |
31,780 |
78 |
80,098 |
2.45 |
2,506 |
0.08 |
0.80 |
2.01 |
386 |
394,344 |
4.29 |
4,383 |
110-80 |
33,191 |
77 |
81,883 |
2.38 |
2,543 |
0.08 |
0.79 |
2.00 |
378 |
402,842 |
4.20 |
4,478 |
105-75 |
34,696 |
75 |
83,932 |
2.32 |
2,584 |
0.08 |
0.78 |
1.97 |
369 |
411,615 |
4.10 |
4,575 |
90-60 |
39,460 |
70 |
89,112 |
2.13 |
2,706 |
0.07 |
0.75 |
1.92 |
345 |
437,219 |
3.83 |
4,860 |
Figure 1 – Location of Zones Included in
Boumadine MRE, with Drill Holes and Magnetic Data (Residual Total
Field)
Figure 2 – Surface Plan of Boumadine
with Mineralized Envelope Included in the MRE
Figure 3 – Longitudinal Projection of
the Block Model of Boumadine MRE
Figure 4 – Typical Vertical
Cross-Section of the Boumadine Central Zone (Section
8850N)
Figure 5 – Typical Vertical
Cross-Section of the Boumadine South Zone (Section
6525N)
Resource-Supporting
Information
Geology and Geological
Interpretation
The Boumadine Project is located within the
Anti-Atlas belt, on the northwest side of the Ougnat Massif. The
geology of the Ougnat Inlier is formed by late-Precambrian (PIII)
predominantly calc-alkaline volcanic and intrusive rocks.
Mineralization is hosted within polymetallic massive Au-Ag-Zn-Pb
sulphide vein systems oriented N340. Mineral assemblage is
characterized by high concentration of pyrite and variable amounts
of arsenopyrite, sphalerite, and galena with local trace of
chalcopyrite. Veins are sub-vertical to steeply dipping (>70°)
with thickness generally varying from 1m to 5m: locally reaching
over 10m.
Mineralized boundaries for the current MRE have
been determined using a combination of logged sulphide percentage
and mineralization grade assay. 3D wireframes were created using
interval selection with the Seequent software Leapfrog GeoTM.
Sampling and Sub-sampling
Techniques
Only DDH samples were used for the Boumadine
deposit MRE.
DDH were cut and sampled at nominal 1m lengths,
except where lengths were altered to match geological boundaries.
Sampling was undertaken along the entire length of the DDH. Circa
2-to-4-kilogram (“kg”) samples were submitted to the laboratory for
analysis.
Sample Analysis Method
Samples were prepared by African Laboratory for
Mining and Environment (“Afrilab”) at its Boumadine prep-laboratory
facility or at its Zgounder prep-lab. A total of 250 grams (“g”) of
pulverized sample material was then submitted for analysis to
Afrilab Marrakech. Inductively Coupled Plasma (“ICP”) spectrometry
was used for Ag, Zn, Pb, Cu. Fire assaying was conducted for Au and
Ag results above 200 g/t.
QA/QC samples were inserted at a 5% rate. For a
batch of 25 samples: one certified reference material, one blank
and one drill core duplicate were inserted. At the end of each
month, a selection of 5% from the coarse rejects was submitted to
Afrilab and a selection of 5% of the pulp residues was sent to ALS
Sevilla, Spain acting as an umpire lab.
Regular reviews of the sampling and QA/QC
protocols were carried out by Aya’s project geologist under the
supervision of Aya’s Qualified Person, to ensure all procedures
were followed and best industry practices carried out. Monitoring
of results of duplicates, blanks and certified reference materials
was conducted by the database administrator each time an assay
batch was imported in the Geotic database.
Drilling Techniques
Drilling was carried out by Geosond Maroc SARL
using CT20 and CS140 drill rigs; and by FTE Drilling using
Versadrill and Marcotte rigs. DDH were drilled with HQ and NQ
diameters. Down-hole surveys were completed in each hole with a
first reading at 12.5m and then every 25m by reflex Ez-shot and
Devico-deviflex. All drill hole collars were surveyed by a
DGPS.
Drill and Data Spacing
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.
Data was composited to 1m. Top cuts were applied
to Au, Ag, Zn, Pb, Cu after review of composite log-normal
histograms.
Veins were interpolated independently by inverse
square distance. Wireframe modelling was developed using Seequent
Leapfrog GeoTM. Statistics, variography and estimations were
completed using the Geovariances Isatis NeoTM software. Open-pit
optimization was developed using the GEOVIA Whittle software.
Bulk density measurements were collected
systematically within mineralized zones and outside boundaries of
mineralized zones. Different bulk density values were allocated by
veins based on the vein average bulk density value. Transitional
materials were also allocated a different bulk density value.
Cut-off Grades
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.
NSR, Ag equivalent and Au equivalent are
calculated using the following parameters and formulas (Table
4).
Table 4 – Parameters and Formulas used to Calculate NSR,
Ag Equivalents and Au Equivalents
|
Au (oz) |
Ag (oz) |
Zn (lb) |
Pb (lb) |
Cu (lb) |
Prices in $USD |
$2,200 |
$24 |
$1.20 |
$1.00 |
$4.00 |
Recovery in % |
85.2% |
89.1% |
72.0% |
84.5% |
75.3% |
NSR ($/t) |
(Pb% x $10.74) + (Zn% x $13.58) + (Au g/t x $58.97) +
(Ag g/t x $0.64) +(Cu% x 63.08) |
Ag Equivalent (g/t) |
Ag(g/t) + (Au(g/t) *Au price/oz*Au recovery)/(Ag price/oz*Ag
recovery) + Zn(%)*Zn price/lb* Zn recovery/(Ag price/oz*Ag
recovery)*685.7147973 + Pb(%)*Pb price/lb* Pb recovery/(Ag
price/oz*Ag recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu
recovery/(Ag price/oz*Ag recovery)*685.7147973 |
Au Equivalent (g/t) |
Au(g/t) + (Ag(g/t) *Ag price/oz*Ag recovery)/(Au price/oz*Au
recovery) + Zn(%)*Zn price/lb* Zn recovery/(Au price/oz*Au
recovery)*685.7147973 + Pb(%)*Pb price/lb* Pb recovery/(Au
price/oz*Au recovery)*685.7147973 + Cu(%)*Cu price/lb* Cu
recovery/(Au price/oz*Au recovery)*685.7147973 |
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Mining and Metallurgical Parameters
The mineralization at Boumadine starts at
surface and continues down to more than 600m in depth, making the
MRE appropriate for a combination of open pit and underground
mining.
Mining dimensions or mining dilution were not
considered as part of the pit optimization work, and a block
dimension of 2.5m x 5m x 5m was used, which is considered
acceptable in terms of a potential smaller selective mining unit.
Similarly, a crown pillar has not been accounted for between the
open pit and the underground mineral resources.
The preliminary metallurgical recoveries that
have been used for the NSR calculation are presented (Table 4)
along with the NSR calculation formula, and are 85.2% for Au, 89.1%
for Ag, 72% for Zn, 84.5% for Pb, and 75.3% for Cu.
The NSR US$/t value was based on estimated
metallurgical recoveries derived from a series of testwork, assumed
metal prices, and smelter terms, which include payable factors,
treatment charges, penalties, and refining charges.
Next Steps
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 m 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
(Figure 6). The results from ongoing geology work will determine
additional development work.
Figure 6 – Location of New Boumadine
Permits Overlayed with Apparent Conductivity at 175Hz
Qualified Person
The scientific and technical information
contained in this press release have been reviewed and approved by
David Lalonde, B. Sc, Vice-President of Exploration, Qualified
Person, and by Patrick Pérez, P.Eng., Director, Technical Services,
Qualified Person.
This Mineral Resource Estimate has been
completed in accordance with NI 43-101, and the Corporation will
prepare and file a Technical Report on SEDAR+ within 45 days of
this press release.
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 management team maximizes shareholder
value by anchoring sustainability at the heart of its production,
resource, 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 &
CEObenoit.lasalle@ayagoldsilver.com |
Alex Ball VP,
Corporate Development & IR alex.ball@ayagoldsilver.com |
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Forward-Looking Statements
This news release contains “forward-looking
information” or “forward-looking statements” within the meaning of
applicable securities laws and other statements that are not
historical facts. Forward-looking statements are included to
provide information about management’s current expectations and
plans that allows investors and others to have a better
understanding of the Corporation’s business plans and financial
performance and condition.
All statements, other than statements of
historical fact included in this news release, regarding the
Corporation’s strategy, future operations, financial position,
prospects, plans and objectives of management are forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are typically identified by words such as “expand”,
“grow”, “increase”, “consolidate”, “promising”, “estimate”,
“assume”, “expect”, “intend”, “anticipate”, “believe”, “confirm”,
“remains”, “potential”, “complete”, “extend”, or variations of such
words and phrases or statements that certain actions, events or
results “may”, “could”, “would”, “might”, “will”, or are ”likely”
to be taken, occur or be achieved. In particular and without
limitation, this news release contains forward-looking statements
pertaining to the exploration and development potential of
Boumadine and the advancement of and success of the exploration
program at Boumadine, notably the potential to expand the deposit
in all directions and to grow the Resource Estimate.
Forward-looking information is based upon
certain assumptions and other important factors that, if untrue,
could cause the actual results, performance or achievements of the
Corporation to be materially different from future results,
performance or achievements expressed or implied by such
information or statements. There can be no assurance that such
information or statements will prove to be accurate. Key
assumptions upon which the Corporation’s forward-looking
information is based include the ability to obtain any requisite
governmental approvals, the accuracy of Mineral Reserve and Mineral
Resource Estimates (including, but not limited to, ore tonnage and
ore grade estimates), silver price, exchange rates, fuel and energy
costs, future economic conditions, anticipated future estimates of
free cash flow, and courses of action.
Readers are cautioned that the foregoing list is
not exhaustive of all factors and assumptions which may have been
used. Forward-looking statements are also subject to risks and
uncertainties facing the Corporation’s business, any of which could
have a material adverse effect on the Corporation’s business,
financial condition, results of operations and growth prospects.
Some of the risks the Corporation faces and the uncertainties that
could cause actual results to differ materially from those
expressed in the forward-looking statements include, among others,
the inherent risks involved in exploration and development of
mineral properties, including government approvals and permitting,
changes in economic conditions, changes in the worldwide price of
silver and other key inputs, changes in mine plans, throughput, the
speculative nature of exploration and development, including the
risks of diminishing quantities or grades of reserves; the fact
that reserves and resources, expected metallurgical recoveries,
capital and operating costs are estimates which may require
revision, the presence of unfavourable content in ore deposits,
inaccuracies in life of mine plans, unusual or unexpected
geological or structural formations, recoveries being affected by
metallurgical characteristics and other factors, such as project
execution delays, many of which are beyond the control of Aya. In
addition, readers are directed to carefully review the detailed
risk discussion in the Corporation’s 2023 Annual Information Form
dated March 28, 2024 filed on SEDAR+ at www.sedarplus.ca, which
discussion is incorporated by reference in this news release, for a
fuller understanding of the risks and uncertainties that affect the
Corporation’s business and operations. Furthermore, Aya’s corporate
update of May 28, 2020, in which it indicated that previous studies
regarding assets which the Corporation considered at that time not
to constitute material assets, remains applicable as of the date
hereof.
Although the Corporation believes its
expectations are based upon reasonable assumptions and has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can thus be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. As such, these risks are not
exhaustive; however, they should be considered carefully. If any of
these risks or uncertainties materialize, actual results may vary
materially from those anticipated in the forward-looking statements
found herein. Due to the risks, uncertainties and assumptions
inherent in forward-looking statements, readers should not place
undue reliance on forward-looking statements.
Forward-looking statements contained herein are
presented for the purpose of assisting investors in understanding
the Corporation’s business plans, financial performance and
condition and may not be appropriate for other purposes.
The forward-looking statements contained herein
are made only as of the date hereof. The Corporation disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except to the extent required by applicable law. The
Corporation qualifies all of its forward-looking statements by
these cautionary statements.
In the foregoing, all references to Aya include
its subsidiaries unless the context requires otherwise.
Photos accompanying this announcement are available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d033ee55-b601-4857-97bd-4007d67e122c
https://www.globenewswire.com/NewsRoom/AttachmentNg/148256e5-8289-43a8-beff-48d902992276
https://www.globenewswire.com/NewsRoom/AttachmentNg/148f635c-6cbd-473f-b209-d61bc52aca16
https://www.globenewswire.com/NewsRoom/AttachmentNg/270c6872-5a74-4f45-93f6-515e5064e24e
https://www.globenewswire.com/NewsRoom/AttachmentNg/69aa68d3-cefc-4d08-b855-8b1276568973
https://www.globenewswire.com/NewsRoom/AttachmentNg/c6bc57fd-e9cd-4e97-9238-68e1083757a0
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