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Globe and Mail
5 days ago
- Business
- Globe and Mail
Aya Gold & Silver Reports Q2-2025 and Mid-July Production Results
MONTREAL, July 24, 2025 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) ('Aya' or the 'Corporation') is pleased to announce production of 1.04 million ('M') ounces ('oz') of silver ('Ag') for the second quarter of 2025 at its Zgounder Silver Mine, located in the Kingdom of Morocco. Q2-2025 Production Highlights Production Metrics Q2-2025 Q2-2024 Variance Silver production (oz) 1,042,317 432,667 140.9% Ore processed (t) 273,471 80,562 239.5% Silver recovery (%) 86.5 84.7 2.1% Mill availability (%) 98.2 95.4 2.9% Mine production (t) 241,288 114,025 111.6% 'Our Q2 production results reflect strong operational execution during a pivotal ramp-up period,' said Benoit La Salle, President & CEO. 'The new plant is now running above nameplate capacity, with recoveries at or above feasibility study levels. Stripping in the open pit during the first half has laid the groundwork for the expanded mine plan, while improved sequencing underground is already driving higher grades. July is off to an exceptional operational start, with KPIs such as grades, throughput, and recoveries all exceeding expectations—clearly demonstrating that our efforts are translating into results. I am proud of the team's performance and confident in a strong second half as we continue unlocking Zgounder's full potential.' June 2025 Summary Silver production of 350,212 oz, adjusted for 7,323 oz of concentrate sales, for net production of 342,888 oz of silver. Mill throughput averaged 3,054 tonnes per day ('tpd'), above nameplate capacity. Silver recovery reached 92%, a monthly record, exceeding plan. Mine production reached a record 2,899 tpd, reflecting steady operational improvements in line with our planned ramp-up sequence. May and June were planned transition months, dedicated to improving mining rate to position the operation for higher silver production in H2-2025. We are reverting to quarterly production reporting and will continue to provide updates on key milestones as they are achieved between quarters. Q2-2025 Summary Silver production of 1.04M oz in Q2-2025. Tonnes processed of 273,471 tonnes ('t') in Q2-2025 a quarterly record with an average milling rate of 3,005 tpd. Silver recovery of 87% in Q2-2025, are in line with plan. Mine production of 241,288t in Q2-2025, a quarterly record, with an average mining rate of 2,652 tpd. Mill availability of 98% in Q2-2025, a quarterly record. Q2-2025 Operational Update The second quarter was marked by several key milestones as we continued to deliver operational improvements and advance our ramp-up plan. The Zgounder Mine achieved an average mining rate of 2,652 tpd — with production split 64% open pit and 36% underground. Mill capacity and recovery rates also improved steadily, reaching 3,005 tpd and 87%, respectively in Q2-2025. The Corporation expects to sustain these recovery rates and further increase milling capacity in H2-2025 of the year as bottlenecks have been identified and are being resolved. A total of 1.04M oz of silver was produced during the quarter. Mining rates at both operations were successfully accelerated to near steady-state levels. With additional mining equipment being mobilized in Q3-2025, the mine ramp-up is on track for completion by year-end. Ore stockpile inventories remain stable and sufficient to support the final stages of ramp-up and the planned increase in milling throughput. Finally, several initiatives are underway to better control blast movement and improve ore recovery and dilution in the open pit, with promising preliminary results. Mid-July Operational Update Operations are outperforming expectations in July. Silver recoveries remain strong at an estimated 94% month-to-date, supported by increased throughput following mid-month optimization work. Milling rates reached a record 3,464 tpd on July 21, and silver production totaled approximately 270,000 oz as of this date—despite three days of planned downtime. Underground development remains on track, with the ramp advancing to the 1,825m level. Mining has begun at level 1,950m, already delivering better grades of up to 227g/t. Two new raises (air and services) are on schedule for Q3-2025 completion to enhance safety and reduce interaction with open pit operations. At the open pit, ramp-up continued with accelerated waste stripping to access higher-grade zones. As part of the 'super-pit' initiative, surface infrastructure has been relocated, clearing the way for full-area mining in Q3-2025. Q2-2025 Earnings Notice Aya will release its second quarter 2025 results on Thursday, August 14, 2025 before market opens. Management will host a conference call on the same day at 10 a.m. Eastern Time to discuss the Corporation's financial and operational results. Participants may join the conference call via webcast or by dialing-in as follows: Webcast link: Instructions for obtaining conference call dial-in numbers: Click on the following call link and complete the online registration form. Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Select a method for joining the call: a) Dial-In: A dial in number and unique PIN are displayed to connect directly from your phone; or b) Call Me: Enter your phone number and click 'Call Me' for an immediate callback from the system. The call will come from a US number. The webcast replay will be archived and will be available for replay following the live call. Presentation slides that will accompany the conference call will also be posted on Aya's website. Qualified Person The technical information contained in this press release have been reviewed and approved by Raphael Beaudoin, P. Eng, Vice-President, Operations, who is a 'Qualified Person' as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101'). 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 has been focused on maximizing 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 Or contact 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 and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as 'confident', 'potential', 'expect', 'on track', 'schedule', 'continue', 'increase', 'plan', 'strong', 'solid', and similar 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, statements and information with respect to the capacity of the Corporation to achieve continued improved production results namely mining, milling, processing, recoveries and overall production and throughput to improve and achieving a solid second half of 2025, unlocking Zgounder's full potential, achieving mine-rate ramp-up by year-end, and other operational milestones. 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 ability of the plant to operate per its designed and intended purpose, 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, the price of gold, 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 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 2024 Annual Information Form dated March 31, 2025, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR+ at 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.
Globe and Mail
26-06-2025
- Business
- Globe and Mail
Aya Gold & Silver Launches Drill Exploration Program at Zgounder Far East and Adds 6 New Regional Permits
MONTREAL, June 26, 2025 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (' Aya ' or the ' Corporation ') is pleased to announce high-grade silver results from its ongoing drill exploration program at the Zgounder Silver Mine and the start of its drill exploration program in the Far East permits in the Kingdom of Morocco. The Corporation has also acquired six (6) new permits to the north, expanding the Zgounder exploration footprint by 11.9% to over 452.7 square kilometers ('km 2 '). Highlights (all intersections are in core lengths) Acquired six (6) exploration permits totaling 48.1 km 2 in the Zgounder area (Figure 2) Started initial 2,250 meter ('m') regional program in the Zgounder Far East permits (Figure 3) Reported intersections in the open-pit area: Hole ZG-RC-24-303 intercepted 1,970 grams per tonne ('g/t') silver ('Ag') over 6.0m; Hole ZG-RC-24-434 intercepted 305 g/t Ag over 11.0m, including 1,348 g/t Ag over 1.0m; Hole DZG-SF-25-593 intercepted 749 g/t Ag over 3.5m including 1,610 g/t Ag over 1.5m; Hole ZG-RC-24-440 intercepted 1,214 g/t Ag over 2.0m; and Hole DZG-SF-25-592 intercepted 438 g/t Ag over 3.5m including 2,410 g/t Ag over 0.5m. Drilled 8,343m or 33% of the 2025 exploration program year to date 'We're excited to consolidate further and grow our footprint by 12% at Zgounder with six new permits—advancing our strategy to expand the land package and explore for satellite deposits,' said Benoit La Salle, President & CEO. 'This includes the start of drilling on the Far East permits, where we've identified several high-impact targets. High-grade intercepts within the open-pit area were also drilled, including ZG-RC-24-303 and ZG-RC-24-434, further confirming the continuity and strength of mineralization to the east.' Included in this release are results from 152 holes, which include 67 underground diamond drill ('DDH'), 15 reverse circulation ('RC'), 49 T28 and 21 YAK holes (T28 and YAK: percussion drilling using an air-compressed hammer). For a full summary of today's results, refer to Appendix 1. Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)* Hole ID From To Ag Length Ag x (g/t) (m) width Underground DDH DZG-SF-25-592 2.0 5.5 438 3.5 1,533 Including 2.0 2.5 2,410 0.5 1,205 DZG-SF-25-593 31.5 35.0 749 3.5 2,622 Including 31.5 33.0 1,610 1.5 2,415 DZG-SF-25-601 27.5 28.5 906 1.0 906 Surface RC ZG-RC-24-303 22.0 28.0 1,970 6.0 11,820 ZG-RC-24-434 0.0 11.0 305 11.0 3,360 Including 2.0 3.0 1,348 1.0 1,348 ZG-RC-24-440 21.0 23.0 1,214 2.0 2,428 Underground T28 T28-24-528 7.2 16.8 107 9.6 1,027 T28-24-562 6.0 13.2 259 7.2 1,862 T28-24-562 18.0 25.2 134 7.2 961 T28-25-706 0.0 7.2 221 7.2 1,594 T28-25-730 0.0 4.8 358 4.8 1,718 Underground YAK YAK-24-206 7.2 10.8 275 3.6 991 YAK-25-306 14.4 25.2 210 10.8 2,269 YAK-25-315 0.0 3.6 592 3.6 2,131 YAK-25-316 30.0 32.4 850 2.4 2,039 * True width is undetermined at this stage. Figure 1: Location of Drill Results at Zgounder 2025 Exploration Results This year, 57 DDH totaling 8,343m have been completed at Zgounder. Drilling was conducted mostly underground in the Central and Western Zones as well as on some near-mine regional targets. Figure 2 shows the six additional licences acquired, which in addition to the Zgounder Far East and the Touchkal blocks, will significantly increase the prospectivity of the Zgounder Regional Project. The Corporation will start mapping and prospecting on these new licences in early H2. The RC drill exploration program at Zgounder Far East began on June 22 nd, targeting four strong geochemistry anomalies including Ag – Cu and Au (Figure 3) with an initial planned meterage of 2,250m. The Zgounder Far East block comprises Neoproterozoic geology divided into three distinct zones: Southern Zone dominated by volcano-sedimentary rocks and pebbly sandstones alternated with felsic volcanics. Central Zone hosts an ophiolite complex, featuring mafic and ultramafic rocks intercalated with fine-grained sandstone units. Northern Zone is composed of intermediate to mafic volcanic and intrusive rocks, alternating with conglomerates. Grab sample results in the Far East block have identified some high-grade grab Ag-Cu, and Au, along with many precious metal anomalies, indicating a strong mineralization potential within 20km from the Zgounder deposit. Figure 2: Surface Map of Zgounder Property with New Exploration Licences Figure 3: Surface Map of Zgounder Far East with Exploration Drill Program Quality Assurance For core drilling, all individual samples represent approximately one meter in length of core, which is halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and assaying to African Laboratory for Mining and Environment ('Afrilab') in Marrakech, Morocco or to ALS Laboratory at the Zgounder Mine site. All samples are analyzed for silver, copper, iron, lead, and zinc using Aqua regia and finished by atomic absorption spectroscopy ('AAS'). Samples grading above 200 g/t Ag are reanalyzed using fire assaying. For definition drilling using RC, all individual samples represent 1.0m in length and for T28 drilling equipment, all individual samples represent 1.2m in length. Samples are assayed at either the ALS Mine laboratory or at Afrilab. All samples are analyzed for silver, copper, iron, lead, and zinc using Aqua regia and finished by AAS. Samples grading above 200 g/t Ag are reanalyzed using fire assaying. Rigorous quality controls (QaQc) are applied at both locations. David Lalonde, P. Geo, Vice-President Exploration, is Aya Gold & Silver's Qualified Person and has reviewed this press release for accuracy and compliance with National Instrument 43-101. 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 has been focused on maximizing 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 Or contact 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 and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as 'expand', 'advance', 'confirm', 'potential', 'significant', 'confidence', 'expansion', 'steady', 'enhance', and similar 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, statements and information with respect to the continuity of the mineralization and its grade, the potential to significantly increase high-grade ounces within and near the open pit area, expanding open-pit operations in the near term, enhancing the resource and better understanding the deposit as well as exploration results in the open-pit and underground areas. 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 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, the price of gold, 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 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 2024 Annual Information Form dated March 31, 2025, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR+ at 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. Appendix 1 - Mineral Intercepts from Drilling at Zgounder (core lengths)* Hole ID From To Ag Length Ag x (g/t) (m)* width Underground DDH DZG-SF-24-296 46.5 48.0 108 1.5 162 DZG-SF-25-589 5.2 8.0 104 2.8 291 DZG-SF-25-590 2.7 3.2 76 0.5 38 DZG-SF-25-590 6.5 8.4 94 1.9 179 DZG-SF-25-591 4.0 5.5 77 1.5 116 DZG-SF-25-592 2.0 5.5 438 3.5 1,533 Including 2.0 2.5 2,410 0.5 1,205 DZG-SF-25-593 31.5 35.0 749 3.5 2,622 Including 31.5 33.0 1,610 1.5 2,415 DZG-SF-25-601 4.2 5.5 138 1.3 179 DZG-SF-25-601 27.5 28.5 906 1.0 906 DZG-SF-25-604 24.5 27.5 191 3.0 572 DZG-SF-25-610 14.0 15.5 97 1.5 146 DZG-SF-25-610 24.0 25.0 198 1.0 198 DZG-SF-25-611 15.9 19.0 244 3.1 756 Including 15.0 16.0 420 1.0 420 DZG-SF-25-628 4.3 5.3 90 1.0 90 DZG-SF-25-628 56.0 57.0 101 1.0 101 Surface RC ZG-RC-24-283 0.0 1.0 88 1.0 88 ZG-RC-24-288 11.0 13.0 190 2.0 380 ZG-RC-24-303 22.0 28.0 1,970 6.0 11,820 ZG-RC-24-425 23.0 24.0 196 1.0 196 ZG-RC-24-425 51.0 55.0 123 4.0 492 ZG-RC-24-427 1.0 2.0 92 1.0 92 ZG-RC-24-434 0.0 11.0 305 11.0 3,360 Including 2.0 3.0 1,348 1.0 1,348 ZG-RC-24-440 21.0 23.0 1,214 2.0 2,428 ZG-RC-24-446 10.0 16.0 97 6.0 580 ZG-RC-24-446 18.0 19.0 112 1.0 112 ZG-SF-23-040 42.0 43.0 84 1.0 84 ZG-SF-23-070 62.5 63.5 138 1.0 138 ZG-SF-24-210 114.0 117.0 84 3.0 252 ZG-SF-24-210 121.0 122.5 99 1.5 149 ZG-SF-25-293 69.5 70.0 1,012 0.5 506 ZG-SF-25-298 82.0 83.0 112 1.0 112 ZG-SF-25-304 216.5 218.0 93 1.5 140 ZG-SF-25-304 277.0 278.0 80 1.0 80 Underground T28 T28-24-528 7.2 16.8 107 9.6 1,027 T28-24-557 4.8 6.0 100 1.2 120 T28-24-557 7.2 8.4 216 1.2 259 T28-24-557 14.4 16.8 119 2.4 286 T28-24-557 19.2 21.6 152 2.4 365 T28-24-557 22.8 24.0 100 1.2 120 T28-24-562 6.0 13.2 259 7.2 1,862 T28-24-562 18.0 25.2 134 7.2 961 Including 18.0 19.2 476 1.2 571 T28-24-563 18.0 20.4 104 2.4 250 T28-24-563 22.8 24.0 80 1.2 96 T28-24-564 19.2 25.2 106 6.0 634 T28-25-690 18.0 19.2 111 1.2 133 T28-25-693 3.6 4.8 100 1.2 120 T28-25-700 25.2 26.4 348 1.2 418 T28-25-704 18.0 19.2 250 1.2 300 T28-25-704 24.0 25.2 77 1.2 92 T28-25-706 0.0 7.2 221 7.2 1,594 T28-25-707 0.0 2.4 256 2.4 614 T28-25-709 9.6 10.8 86 1.2 103 T28-25-730 0.0 4.8 358 4.8 1,718 T28-25-730 7.2 8.4 76 1.2 91 T28-25-731 0.0 1.2 108 1.2 130 Underground YAK YAK-24-206 7.2 10.8 275 3.6 991 YAK-25-302 6.0 8.4 110 2.4 263 YAK-25-306 14.4 25.2 210 10.8 2,269 YAK-25-309 10.8 12.0 166 1.2 199 YAK-25-315 0.0 3.6 592 3.6 2,131 YAK-25-315 15.6 18.0 131 2.4 313 YAK-25-315 19.2 20.4 80 1.2 96 YAK-25-316 30.0 32.4 850 2.4 2,039 * True width is undetermined at this stage.
