MONTREAL, Jan. 23, 2025 (GLOBE NEWSWIRE) — Aya Or & Argent Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Company”) is pleased to announce that it has achieved and exceeded design capacity at its Zgounder mine, 100% owned by the Company and located in the Kingdom of Morocco.
The new plant began processing ore on November 4, 2024. The first silver pour took place on November 27 and commercial production was achieved on December 29, less than two months after the new plant began processing. process its first batch of ore.
Over a period of 30 consecutive days ending January 20, 2025, the new plant processed a total of 65,990 tonnes (“t”) of ore, for an average of 2,200 tonnes per day (“tpd”), or equivalent to 110% of nominal capacity. Average processing rates were 96 tonnes per hour (“tph”), with 96% availability. Silver recovery was 85%.
Between January 11 and 20, processing throughput at the plant averaged 2,239 tpd, with plant availability of 98% and a silver recovery rate of 89%. Recovery is steadily increasing as processing parameters are adjusted and plant feed grade increases.
As of January 18, the pulp from the flotation plant has been successfully integrated into the leaching circuit of the new plant. Since then, the combined processing rate of the two plants has averaged more than 2,900 tpd with a recovery rate of more than 90%. This integration allows silver bars to be produced exclusively, eliminating the previous combination of concentrate and silver bars and increasing the payable value of the silver produced.
Over the coming months, the goal will be to stabilize the combined processing rate at Zgounder at over 3,000 tpd while maintaining or surpassing the 89% recovery rate determined in the feasibility study.
Soutex, a Canadian consultancy specializing in mineral processing and metallurgy, recently conducted a study analyzing the time required for the ramp-up of mineral processing plants, from the first introduction of ore to reaching the nominal capacity (figure 1). The study identified the new plant in Zgounder as having delivered one of the fastest performance towards achieving design capacity, thus highlighting the robustness of the plant.
“I am proud to announce the ramp-up of the new plant at Aya’s Zgounder mine, where we are now operating above design capacity, just weeks after reaching commercial production,” said the President and CEO, Benoit La Salle. “The performance of the operations now integrated into Zgounder reflects Aya’s exceptional expertise and team commitment and sets the stage for strong production performance in 2025.”
Figure 1 – The data presented below was compiled by Soutex and shows the ramp-up time towards reaching the nameplate capacity of the new plant in Zgounder, which is the fastest (tied with another project) comparatively to more than a hundred other mineral processing plants. Rollins and Lam database (2017) [1] in comparison with the experience of Soutex [2].
[1] Rollins, D. and W. Lam. Ramp-ups: What to expect when expecting a new mine. RBC Markets Precious Metals and Minerals. September 17th, 2017.
[2] Bouffard, D., A. Berton, S. Gariépy and D. Roy. Plant Commissioning: overcoming challenges and ensuring success. 57th Annual Canadian Mineral Processors Operators Conference, 2025, Ottawa, Canada.
Raphaël Beaudoin, P.Eng., vice-president, Operations of the Company, is a qualified person as this term is defined in National Instrument 43-101. Mr. Beaudoin has reviewed the technical information in this press release and approves the written disclosure contained herein.
-About Aya Or & Argent Inc.
Aya Or & Argent Inc. is a growing Canadian silver producer operating in the Kingdom of Morocco.
Aya is the only pure silver mining company listed on the Toronto Stock Exchange. It operates the high-grade Zgounder silver mine and explores its properties along the high-potential South Atlas Accident, several of which contain former producing mines and historic resources. In addition to its Moroccan mining assets, Aya also owns the Tijirit gold project located in Mauritania, which, following the September 12, 2024 announcement, will be developed by Mx2 Mining, a new gold growth company spun off from a split.
Aya’s management team aims to maximize shareholder value by anchoring sustainability at the heart of its operations, governance and financial growth plans.
For more information, please visit Aya’s website at http://ayagoldsilver.com.
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Forward-looking statements
This press release contains certain statements that constitute forward-looking information within the meaning of that term under applicable securities laws (“forward-looking statements”), which reflect management’s expectations regarding future growth, prospects Aya’s business and other opportunities. Where possible, terms and expressions or statements to the effect that certain actions, events or results “could” or “should” occur, “will occur”, “will take place” or “likely” implemented or achieved, were used to identify forward-looking information. Specific forward-looking statements in this release include, but are not limited to, words such as “increase”, “target”, “maintain”, “surpass”, “continue”, as well as other statements and information relating to on Aya’s ability to stabilize the combined processing rate at Zgounder at over 3,000 tpd while maintaining or surpassing the recovery rate of 89%, its ability to deliver continued operational performance, its ability to achieve its short and long goals term, the ability to generate future cash flows and grow its business. Although the forward-looking information contained in this press release reflects management’s current beliefs based on information currently available to it and based on what, in management’s opinion, constitute reasonable assumptions, Aya has not there can be no assurance that actual results will be consistent with this forward-looking information. Forward-looking statements are based on assumptions, opinions and analyzes made by management taking into account its experience, current conditions and its expectations regarding future developments that management believes to be reasonable and relevant but which could prove to be inaccurate. These assumptions include, among others, that the new plant operates in accordance with expectations and specifications, that the ramp-up of operations continues as planned, that the EPC contractor honors its contractual obligations, the ability to obtain all required government approvals, obtaining regulatory permits for work on site, for the importation of goods and machinery and employment permits, the accuracy of estimates of mineral reserves and mineral resources (including, without (but not limited to, ore tonnage and grade estimates), silver price, exchange rates, fuel and electricity costs, future economic conditions, future cash flow estimates anticipated availability, and avenues of action. Aya cautions the reader not to place undue reliance on forward-looking statements.
Risks and uncertainties that could affect forward-looking statements include: risks inherent in the exploration and development of mineral properties, including dependence on a single EPC supplier and its subcontractors in connection with the mining project. expansion at Zgounder, government approvals and obtaining permits, changes in economic conditions, global price variations for silver, gold and other important inputs, changes to plans mining (including, but not limited to, processing throughput and recovery rates being affected by metallurgical characteristics) and other factors, such as delays in project execution, many of which are beyond Aya’s control , as well as other risks and uncertainties which are more fully described in Aya’s 2023 Annual Information Form dated March 28, 2024 and in Aya’s other documents filed with the securities regulatory authorities, which are available on SEDAR+ at www.sedarplus.ca. Aya undertakes no obligation to update any forward-looking statements if assumptions relating to such plans, estimates, projections, opinions and views should change. Nothing herein should be considered an offer to sell or a solicitation to buy or sell any securities of Aya. Any reference to Aya also includes its subsidiaries, unless the context otherwise requires.
A photo accompanying this release is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/42a242e8-c478-4e0b-b440-992d91b3f20f/fr
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