Aya Gold & Silver (TSX: AYA) reported today the updated mineral resource estimate for its Zgounder silver mine in the Kingdom of Morocco. The report effective December 13, 2021, saw the total measured & indicated resources increase to 96.1 million silver ounces coming from 9.8 million tonnes grading at 306 g/t silver.
According to the firm, this is a 116% increase from the estimate reported in March 2021 of 44.4 million silver ounces coming from 4.6 million tonnes grading at 282 g/t silver.
Specifically, measured resources were reported at 3.5 million tonnes at 347 g/t silver for 39.2 million silver ounces while indicated resources were at 6.3 million tonnes at 283 g/t silver for 56.9 million silver ounces.
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The latest update includes drilling conducted between January and September 2021. The database was gathered from 516 drill holes, surface and underground combined, covering 41,932 metres.
Breaking down the measured & indicated resource estimate, pit-constrained resources contributed 5.9 million silver ounces grading at 357 g/t silver while out-of-pit resources contained 89.3 million silver ounces grading at 309 g/t silver.
The report also included 6.4 million silver ounces of inferred resources grading at 367 g/t silver from the out-of-pit resources.
“Our next priority will be [the] completion of the Zgounder expansion Feasibility Study in Q1-2022, while continuing our ongoing step-out and infill drill program,” relayed Aya Gold & Silver CEO Benoit La Salle.
The mining company previously declared its target to achieve a 100 million silver ounce resource by the end of 2021.
Aya Gold & Silver last traded at $5.50 on the TSX.
Information for this briefing was found via Sedar and Aya Gold & Silver. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
