Aya Gold & Silver Identifies New Parallel Structure at Boumadine and Reports High-Grade Exploration Results
Aya Gold & Silver transitions to Tier-1 status as Zgounder ramp-up exceeds nameplate and Boumadine exploration reveals district-scale parallel structures.
The most recent news (February 24, 2026) reports the identification of a new mineralized parallel structure 500 meters east of the Boumadine Main Trend. High-grade drill results from hole BOU-DD25-707 (331 g/t AgEq over 0.8m) and others (446 g/t AgEq over 6.0m) confirm continuity and scale. This follows a string of positive updates: - Zgounder Mine: High-grade results (February 18, 2026) confirm continuity at depth and in the open-pit area, with intercepts up to 4,489 g/t Ag over 6.0m. - 2026 Guidance: Total production targeted at 6.2 - 6.8 Moz AgEq, with Zgounder contributing 5.2 - 5.8 Moz Ag. - Financials: Achieved financial completion of the US$100M EBRD loan (January 20, 2026), reducing restricted cash requirements. - Boumadine PEA: Filed in December 2025, showing a post-tax NPV5% of $1.5B and 47% IRR.
The identification of a new parallel structure at Boumadine is Material - Positive. It validates the "district-scale" thesis management has promoted. - Resource Growth: The new structure is outside the current PEA shells, suggesting significant resource expansion potential in the upcoming 360,000m drill program. - Operational De-risking: Zgounder is now operating at ~3,800 tpd, well above its 2,700 tpd nameplate capacity. This over-performance offsets slightly higher-than-expected cash costs ($21.50/oz guidance vs. $19.62/oz historical). - Financial Strength: The transition to commercial production and the EBRD financial completion signal that the company is now self-funding its massive exploration budget ($60M for 2026). - Strategic Listing: The pursuit of a U.S. listing in H1-2026 is a major liquidity catalyst.
Aya Gold & Silver is the only pure-play silver producer listed on the TSX. - Flagship: Zgounder Silver Mine (Morocco). Recently expanded to 2,700 tpd (currently running at ~3,800 tpd). 11-year mine life producing ~6 Moz Ag annually. - Growth Asset: Boumadine (Morocco). A polymetallic (Au-Ag-Zn-Pb) project with a $1.5B NPV. It is expected to be 6x the scale of Zgounder. - Jurisdiction: Morocco is ranked as a top-tier mining jurisdiction with rapid permitting and low costs ($150/m drilling).