Aya Gold & Silver (TSX: AYA; US-OTC: AYASF) has poured first silver at its expanded Zgounder mine in Morocco, the Canadian miner announced Tuesday. The first pour was achieved on July 2 from the existing cyanidation plant.
The pour "marks another significant milestone" in the Zgounder mine expansion as it transitions to full production by the fourth quarter of 2024, Aya CEO Benoit La Salle said in a release.
According to the company, all commissioning activities are progressing to plan, including testing of the ball mill and hydrostatic tests. Ore feed to the mill is expected this quarter, with commercial production to follow.
Located in the central Anti-Atlas mountains, Zgounder is considered the second most important silver producer in the African nation after Managem's Imiter mine. It holds approximately 8.6 million tonnes in reserves at 257 grams per tonne silver for 70.9 million oz.
After achieving commercial production in January 2019, Aya set out to expand the mine's nameplate capacity from 700 tonnes per day to 2,700 tonnes, which would quadruple its annual production to 6.8 million oz. of silver.
Aya has a market cap of $1.9 billion.