Amizmiz (Au)

Highlights

• • 2,800m drill  and fieldwork planned in 2024
  • Mining permit covering 17 km²
  • Ownership: 100%
  • Location: 55km SSW from the city of Marrakech; 12km north of our Azegour property
  • Previous exploration (1999-2011)
    • Mapping, trenching and channel sampling identified 57 mineralized sites
    • Magnetic and IP/resistivity surveys conducted in 2009
    • 6,000m of core drilling conducted on targets identified from IP and magnetic geophysical surveys
    • Inferred historical mineral resource estimated in 2010 (not NI 43-101 compliant)

Mineralization

The mineralization consists of oxidized, gold-bearing veins injected into Lower Cambrian marble and located in close proximity to interbedded mafic sills. Most gold-bearing veins occur along a NNW-trending corridor of regional extent that can be traced from the Azegour Mine up to the TR-AZ structures. The veins are oriented parallel to the S2 schistosity and display near vertical dips (80°) (Figures 3 and 4). The veins are formed by carbonate, quartz, muscovite, hematite, goethite and arsenates. X-ray (EDX) and scanning electron microscopy analyses indicated the presence of several gold grains (up to 50 μm). Gold is also found as inclusions in altered iron oxide, carbonate, quartz, arsenopyrite or in muscovite. The unoxidized counterpart of the gold-bearing argillite veins contains pyrite, pyrrhotite, arsenopyrite and malachite with rare galena and chalcopyrite.

Deposit Type

Several characteristics of the Amizmiz polymetallic Au veins suggest a carbonate replacement origin in a distal environment relative to a parent intrusive:

• The relatively discrete alteration of the wall rock carbonate rock which is manifest  by sporadic silicification and sericitization
• The strong oxidation of sulfide minerals in the mineralized veins attesting to the high level of emplacement and availability of meteoric waters
• The relative enrichment in gold and arsenic relative to silver, copper, zinc, and lead. (Figure 6).

The degree of rock schistosity, fracturation, porosity or impermeability has played an important role in the apparent stratigraphic control of the mineralization. In particular, the strong penetrative S2 vertical schistosity has acted as a favorable conduit for the emplacement of mafic sills, porphyritic dykes and mineralized veins.

Exploration

Between 2009 and 2011, exploration on the Amizmiz property consisted of mapping, trenching, channel sampling, drilling programs on specific mineralized zones and a ground-based geophysical survey along a newly established grid.

Aya has performed detailed geological and structural mapping of the property since its acquisition. Particular attention was devoted to detailed mapping of the mineralized zones consisting of polymetallic Au-bearing oxidized veins (Figure 3). Extensive channel sampling was conducted on at least 57 of these zones. The principal mineralized vein systems, AZ and TRN, provided the best gold values as seen below:

Magnetic and IP/resistivity surveys were conducted in 2009 on 42.8 linear kilometers of gridlines established in the northern segment of the Amizmiz permits. The Reduced to Pole (RTP) contour map highlights elliptical-shaped, NS to NE-SW-oriented anomalies reflecting the presence of thin veins or basic dykes. Chargeability anomalies are related to the Az and TR Au-mineralized zones and are largely controlled by the presence of sulphide minerals.

Drilling on Amizmiz was conducted on four main sites (TR, Tiqlit, Az, T Hill) (Figure 5). Twenty-nine diamond drill holes totaling 5,900 meters yielded significant gold intersections as summarized below:

Qualified Person

The scientific and technical information contained on this page have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

Amizmiz Mine December 2010

Technical report