Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Aya Gold & Silver (TSX: AYA) has announced a significant increase to its 2023 exploration program across its Moroccan assets, which include the Boumadine polymetallic project, Zgounder silver deposit, Zgounder Regional properties and the recently acquired Tirzzit copper-silver property.
At Boumadine, an additional 40,000 metres of diamond drilling have been added with the aim of expanding the strike length mineralization to the south; testing a new zone in the northwest where massive sulphide is associated with a large brecciated zone that currently extends 1.5 kilometres; as well as infill drilling.
“We are very encouraged with Boumadine exploration results over the past 12 months and are more then doubling our 2023 drill exploration program for this project to 76,000 metres. We continue to grow the strike, which now extends 3.8 kilometres remaining open in all directions,” Aya Gold CEO Benoit La Salle said in a news release.
“We are also encouraged by our early work at Zgounder Regional and remain focused on finding additional resources including the potential for satellite deposits within trucking distance from the mine,” he added.
According to the Toronto-based silver producer, another 7,300 metres have been added to the Zgounder Regional exploration, which will test the potential continuation of the Zgounder deposit and drill a new target in the Tourchkal area.
About 3,000 metres of extra surface drilling will also be completed near the Zgounder open pit, designed to follow up on the earlier reverse circulation drill results east of the deposit and in the southern part of the pit, the company added.
At the Tirzzit property, it is expected to conduct an initial stream sediment and mapping campaign and a high-resolution hyperspectral survey.
Aya Gold & Silver closed Thursday’s trading session 2.3% higher, for a market capitalization of C$879.3 million ($649.5m).
