139 km² of Moroccan copper and silver acquired for just 4 million dollars

Aya Gold & Silver is continuing its expansion into Morocco’s subsoil. The Canadian group has reached an agreement to acquire a portfolio of exploration permits covering 139 km², including a 19 km² mining license.

The entire area is located in the Tizi region, approximately 35 kilometers west of the Zgounder silver mine, which Aya already operates in the Anti-Atlas. To acquire these rights, the company will pay four million Canadian dollars, or approximately 26 million dirhams, entirely in the form of shares.

Specifically, an Aya subsidiary will acquire all the shares of the company holding the permits. The seller’s identity was not disclosed in the statement issued by the Canadian group.

The company’s initial data show high concentrations in some surface samples. Historical samples reportedly reached 837 grams of silver per tonne and 4.6% copper. Aya’s own samples yielded up to 500 grams of silver per tonne and 4% copper.

A mineralized corridor extending more than two kilometers

The company also says it has confirmed in the field the presence of a principal copper and silver horizon extending over more than two kilometers. It now intends to use the infrastructure and teams already present at Zgounder to explore this new territory.

The transaction has not yet been definitively completed. It remains subject to additional checks, as well as approval from the Moroccan and Canadian authorities and the Toronto Stock Exchange.

This acquisition comes less than a month after another move by Aya in Morocco. In early August, the company had already announced the acquisition of 259 km² of mining properties spread across Zagora, Agadir-Melloul and Guelmim. This first portfolio included three mining licenses and 18 exploration permits targeting silver, copper, gold, cobalt and rare earths in particular.

With the additional 139 km² near Zgounder, Aya will thus have announced within a few weeks the acquisition of nearly 400 km² of mining rights in Morocco. For the Canadian group, the stated objective is to build a dominant position around its main Moroccan mine and develop a new platform there dedicated to copper and silver.