Northwire Canada EditionWednesday, November 4, 2026
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Gold 3,940.40 −0.7% Silver 49.75 −2.2% Copper 6.41 −2.4% Oil 96.76 +0.3% Palladium 930.00 −4.0% MSA 8.73 +1.2% GGL 0.145 +0.0% MAU 14.45 +0.3% EMO 0.220 +0.0% EOX 0.060 +0.0% PMET 2.99 −2.3% SVM 11.14 −2.5% NUAG 6.82 +0.1% STGO 1.35 +1.5% TFPM 39.56 −2.0% REE 0.030 +0.0% PNTR 0.330 +0.0% SSRM 36.56 −2.4% NGEX 20.85 +2.9% DML 2.96 −0.3% DOS 0.020 +0.0% Gold 3,940.40 −0.7% Silver 49.75 −2.2% Copper 6.41 −2.4% Oil 96.76 +0.3% Palladium 930.00 −4.0% MSA 8.73 +1.2% GGL 0.145 +0.0% MAU 14.45 +0.3% EMO 0.220 +0.0% EOX 0.060 +0.0% PMET 2.99 −2.3% SVM 11.14 −2.5% NUAG 6.82 +0.1% STGO 1.35 +1.5% TFPM 39.56 −2.0% REE 0.030 +0.0% PNTR 0.330 +0.0% SSRM 36.56 −2.4% NGEX 20.85 +2.9% DML 2.96 −0.3% DOS 0.020 +0.0%
Drill Results Routine +

Aya Gold & Silver Reports High-Grade Exploration Drill Results Near Pit Depth at Zgounder

Aya Gold’s Zgounder Drilling Confirms Grade Continuity, but Boumadine License Renewal Looms as Key Near-Term Hurdle

By The Northwire Desk — AI Analysis Jun 02, 2026 · 07:00 AYA · 28.65 Aya Gold & Silver Inc.
Executive Summary
  • Aya Gold & Silver reported high-grade silver drill results from its at-depth exploration program at the Zgounder Silver Mine in Morocco.
  • Significant intersections include 5,480 g/t Ag over 1.2m, 4,298 g/t Ag over 3.6m, and 3,680 g/t Ag over 1.2m across the central and open-pit areas.
  • The company has completed 9,250m (30.8%) of its 2026 exploration program year-to-date across 116 holes.
  • Results confirm strong continuity of silver mineralization around the open pit and central zone, with new intersections near the Western Fault supporting exploration potential to the west.
  • An exploration drift at the 1,825-metre level is advancing ahead of planned H2 drilling west of the fault.
Material Impact
  • The drill results are positive but entirely consistent with the company's aggressive, publicly announced 2026 exploration budget of ~$60M and 230,000m drilling target.
  • This is a routine follow-up to previous high-grade releases in February, December, and September 2025. It does not introduce new geological models, change the resource estimate, or alter the Boumadine feasibility timeline.
  • The market has already priced in the Zgounder ramp-up and Boumadine PEA economics. Incremental high-grade intercepts at depth are expected operational milestones, not valuation inflection points.
  • No change to 2026 production guidance (6.2–6.8 Moz AgEq) or cost structure. The news is routine execution of a known plan.
AYA · Price
Company Overview
  • Aya Gold & Silver operates the Zgounder Silver Mine in Morocco, which ramped up to full production in 2025, delivering record Q4 2025 production of 1.37 Moz Ag.
  • The company is advancing the Boumadine polymetallic project, which received a positive PEA in December 2025 showing a $1.5B post-tax NPV and 47% IRR.
  • Boumadine also features a legacy pyrite stockpile commercialization program launched in November 2025, targeting ~2.5 Moz AgEq over 20-24 months.
  • The company holds a combined land package of over 600 km² across Zgounder and Boumadine.
Read the original news release →

More from Aya Gold & Silver Inc.

Nov 04, 2026 · 07:00

Aya’s Boumadine infill drilling highlights resource-grade intersections, while permit expansion efforts remain incremental to the project’s development.

Drill Results Oct 29, 2026 · 08:53

Aya recycled its October 14 Q3 print with no new assays or information.

Drill Results Oct 21, 2026 · 07:00

Aya re-filed the Boumadine preliminary economic assessment without new data, as the project’s net present value had already declined from previous price assumptions.

Resource Estimate Oct 14, 2026 · 07:00

Aya’s Q3 results were boosted by a finite reclaim asset and an 80:1 silver-to-equivalent basis.

Production / Operations Sep 22, 2026 · 07:00

Aya confirms Boumadine infill meets mill-feed grade, validating the deposit rather than marking a new discovery.

Drill Results Sep 16, 2026 · 07:00

Aya’s Boumadine project holds a $3.5 billion NPV, driven by expected high-grade Zgounder intersections.

Drill Results