Aya Gold & Silver Inc. Announces Strategic Acquisition of Copper-Silver Portfolio
In a significant move to bolster its operations, Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) has formally announced its agreement to acquire a substantial copper-silver portfolio comprising 139 square kilometers of exploration permits in Morocco. This new acquisition, which includes a 19 square kilometer mining license situated roughly 35 kilometers west of the company’s Zgounder Silver Mine, is expected to enhance Aya's existing land position in the Zgounder district. The copper-silver system within the acquired portfolio presents multiple styles of mineralization and holds considerable exploration potential.
Key highlights of this acquisition include strong historical trenching results, with reports indicating a 15-meter grading of 0.65% copper and 33 grams per tonne silver. Furthermore, high-grade surface samples have been recorded, showing silver values as high as 837 g/t and copper grades reaching up to 4.6%. The confirmed presence of a principal copper-silver horizon over 2 kilometers was validated through field visits conducted by Aya's exploration teams. These findings underscore the promising nature of the acquisition, revealing multiple mineralization styles including sediment-hosted and structurally controlled copper-silver deposits, along with associated alteration zones.
"This acquisition aligns perfectly with our strategy of establishing a dominant land position around Zgounder and strategically consolidating opportunities within Morocco," said Benoit La Salle, President and CEO of Aya Gold & Silver. He expressed confidence in the potential to apply Aya's exploration expertise to develop a new copper-silver platform, particularly given the proximity of the newly acquired lands to their existing mining operations.
The transaction, which involves the acquisition of all issued and outstanding shares of the seller, is valued at C$4.0 million, payable in shares of Aya. This acquisition is subject to customary closing conditions, including satisfactory confirmatory due diligence and approvals from Moroccan and Canadian regulatory bodies, as well as the Toronto Stock Exchange. The company anticipates that the deal will close once these conditions are met.
Looking forward, Aya plans to initiate exploration activities on the Cu-Ag Portfolio over the next 12 to 18 months to assess its discovery potential. This phase will include a range of exploration techniques, such as stream sediment geochemistry, high-resolution hyperspectral studies, airborne geophysics, as well as extensive mapping and prospecting efforts. The outcomes of these explorations will inform subsequent steps in the development of the portfolio.
Aya Gold & Silver is recognized as a Canadian mining company operating primarily in Morocco, focusing on the full mining value chain. With a commitment to responsible mining practices, the company aims to deliver sustainable value to its shareholders and host communities. For more information about Aya Gold & Silver and its projects, please visit their official website at www.ayagoldsilver.com.
As reported by stocktitan.net.
