2021 Production Guidance Increased by 29% to
1.55 Million Ounces
MONTREAL, Oct. 14, 2021 /CNW Telbec/ - Aya Gold & Silver Inc. (TSX: AYA)
("Aya" or the "Corporation") announces silver production of 338,624
ounces at an average grade of 242 grams per tonne in the third
quarter of 2021 from its Zgounder Silver Mine in the Kingdom of
Morocco.
Key Highlights
- Production of 338,624 ounces ("oz") of silver ("Ag") in
Q3-2021, a 198% increase compared to 113,655 oz Ag in Q3-2020
- Increase in 2021 production guidance to 1.55 million oz Ag or a
29% increase over initial guidance of 1.20 million oz Ag
- Silver recovery of 81% in Q3-2021, a 29% increase compared to
63% in Q3-2020
- Successful two-day shutdown of the flotation plant to upgrade
to a higher performance cone crusher
- Strong advancement of capital projects
Q3-2021 Production
|
Q3-2021*
Production
|
Q3-2020
Production
|
%
Increase
|
Tonnes
processed
|
53,869
|
26,034
|
107%
|
Average grade
(g/t Ag)
|
242
|
217
|
12%
|
Silver ingots
produced (oz)
|
154,331
|
93,691
|
65%
|
Silver in concentrate
for sale produced (oz)
|
184,293
|
19,964
|
823%
|
Total silver produced
(oz)
|
338,624
|
113,655
|
198%
|
*Q3-2021 numbers are
preliminary and are subject to final adjustment.
|
"This was a solid operational quarter where the changes
implemented over the past year enabled the mine to deliver 338,624
ounces. This represents nearly triple last year's Q3 production and
is in line with our turnaround plan. Despite the hot, summer
months, we intensified capital project development activities to
further upgrade our mining facilities and achieve additional
operational efficiencies. The better than anticipated operational
performance and execution gives us the confidence to increase
Zgounder's production guidance by 29% to 1.55 million ounces for
the year," said Benoit La Salle,
President & CEO.
Intensive Operational Development
Silver recovery increased to 81% relative to 63% for the same
period in 2021. The slight decrease in Q3-2021 recovery relative to
82% in Q2-2021 is primarily due to a lower silver recovery of 79%
at the cyanidation plant. The reduction in recovery during summer
months is due to lower freshwater intake and excess evaporation in
the tailings dam. These two issues are being addressed by the
construction of a water retention basin and a tailings thickener to
minimize water discharge to the tailings dam. Recovery in the
quarter still exceeded the Q3-2021 budgeted recovery.
In the quarter, plant availabilities reached 87% and 89% for the
flotation and cyanidation plants, respectively. Availability was
impacted by a two-day planned shutdown of the flotation plant and
by a two-day unplanned shutdown of the cyanidation plant to work on
a ball mill.
The quarter also saw extensive development of capital projects
including refurbishment activities at the cyanidation plant,
replacement of the flotation plant cone crusher to a new, higher
performance model, ongoing construction of a new underground
explosive depot, and start of construction of a new mine access at
the 2,075-meter level.
Increased 2021 Production Guidance
As a result of the operational outperformance to date, the
Corporation is raising its 2021 production guidance to 1.55 million
oz Ag, a 29% increase relative to the 2021 original guidance. The
2021 cost guidance remains unchanged.
Q3-2021 Financial and Operational Results
Aya's Q3-2021 full financial and operational results will be
released before market-open on November 15,
2021.
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 maximising 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
www.ayagoldsilver.com.
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 "plans", "expects",
"does not expect", "scheduled", "trends", "indications",
"potential", "estimates", "predicts", "anticipate", "to establish",
"does not anticipate", "believe", "intend", "ability to" 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 exploration and development
potential of Zgounder and the conversion of Inferred Mineral
Resources into Measured and Indicated Mineral Resources, future
opportunities for enhancing development at Zgounder, and timing for
the release of the Company's disclosure in connection with the
foregoing. 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 closing and timing of financing,
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. 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 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 2020 Annual Information Form dated March 31, 2021, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR
at www.sedar.com. 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.
SOURCE Aya Gold & Silver
Inc