Aya Silver & Gold Inc, a Canadian corporation operating in Morocco, announced its fourth quarter and annual silver production figures at the Zgounder Silver Mine, revealing a 17% increase in silver production in 2022 compared to 2021.
“2022 was another record-breaking year at Zgounder with our mining operations performing ahead of guidance in Q4-2022,” said Benoit La Salle, president, and CEO of the corporation.
Ever since the company deepened its collaboration with the Moroccan national office from hydrocarbons and mines (ONHYM) by increasing its ownership of the Zgounder silver mine to 100%, annual silver production went up by 17%.
In 2022’s Q4, it went up by 52.5% compared with Q4-2021.
The overall mine production increased by 28.4% in the fourth quarter of 2022 and by 29.3% in 2022 compared to 2021 as a whole.
The CEO said in the company’s official statement that 2022 was significant 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, declared Benoit.
Back in September, Aya Silver & Gold Inc acquired all the interest that ONHYM had in the Zgounder mine which is 15%, in a 67 million dirhams deal.
Regardless, ONHYM maintains a 3% royalty on the Zgounder property.
Mining ramp-up is expected to accelerate in Q2-2023 to build inventory for the expansion as new mining equipment is expected to be delivered onsite throughout 2023, declared the company.
Aya Gold and Silver Inc is the only TSX-listed pure silver mining company; it manages the high-grade Zgounder Silver Mine and is exploring sites along the potential South-Atlas Zone, several of which have previously produced mines and historical resources.
Aya’s Moroccan mining holdings are supplemented with the Tijirit Gold Project in Mauritania, which is nearing completion.
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