Aya Gold & Silver Acquires Morocco’s Copper Project “Tirzzit”

Aya Gold & Silver, a Canadian-based silver producer, acquired the Tirzzit Project (“Tirzzit”), a collection of seven permits located 25 kilometers from the Zgounder Silver Mine in the Kingdom of Morocco, it announced in a press release on Thursday.
Aya will control 100% of Tirzzit in Morocco, as it is paying a total consideration of approximately US$4.9 million including US$800,000 in cash as well as 622,728 Aya shares.
The acquisition covers seven permits, comprising five exploration permits and two mining licenses, one of which hosts a high-grade historical copper (Cu) mine; historical data, including drill results and geophysics, which Aya will use to launch fieldwork to enhance its understanding of Tirzzit; and a property totaling 67.7 km2.
The transaction remains subject to final Toronto Stock Exchange approval and regulatory approval of Morocco.
Tirzzit copper mine project offers near-surface silver and copper mineralization potential with historical drilling intercepts of up to 3.5% copper; mineralization of the historical deposit that remains open in three directions; no systematic exploration program using modern methods and easy road access and proximity to infrastructure.
According to the statement, Aya will adopt a systematic approach to its exploration of Tirzzit, with a fieldwork program scheduled before year-end 2023. Depending on the results, a first drill program is envisaged in 2024.