Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to announce its fourth quarter and annual silver production results at the Zgounder Silver Mine in the Kingdom of Morocco.
Q4-2022 Quarter Production Highlights
2022 Annual Production Highlights
“2022 was another record-breaking year at Zgounder with our mining operations performing ahead of guidance in Q4-2022,” said Benoit La Salle, President & CEO. “It was also a significant year for mine development and infrastructure buildout, which is critical to the Zgounder mine expansion and provided access to new stopes at the “1950m” mine level. An expanded drill exploration program at both Zgounder and Boumadine will be conducted during 2023 with an objective of providing significant growth and delivering value to all stakeholders.”
Q4-2022 and 2022 Annual Production Update
|Key production metrics||Q4-2022*||FY-2022*|
|Average grade (g/t Ag)||364||265|
|Silver ingots produced (oz)||327,625||855,351|
|Silver in concentrate for sale produced (oz)||333,996||1,025,356|
|Total silver produced (oz)||661,621||1,880,707|
|*2022 numbers are preliminary and are subject to final adjustment.|
On-going mine development is providing access to new levels with mill head grade expected to stabilize in 2023. Nonetheless grade variation on a quarterly basis is expected, especially in high grade zones, which is an intrinsic characteristic of the deposit. In 2022, the annual head grade of 265 g/t was inline with guidance (264 g/t), which improves confidence in the mine plan moving forward.
Improved mine and mill throughput and silver recovery resulted in record annual production of 1,880,707 oz in 2022, which is ahead of 2022 guidance and a 17.5% increase compared with 2021.
Mill recoveries improved in 2022 and reached 89.9% in Q4-2022 due to continuous efforts by our operations team. This achievement by the operations teams adds to our confidence in ramping up the new processing plant once it is built. The flotation mill was shut down for maintenance for six days during December 2022 to ensure a solid start to the 2023.
Mine production reached a record of 80,426 t, or 874 tpd for the quarter and 776 tpd for the year. Mine ramp up is expected to accelerate in Q2-2023 to build inventory for the expansion as new mining equipment are expected to be delivered onsite throughout 2023.
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 Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
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.
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