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.
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.