Amizmiz (Au)

About Amizmiz

Amizmiz is a gold-bearing exploration property located in the province of Marrakesh in the Western High Atlas mountains, Morocco. A small drilling and fieldwork program is planned in late 2024.

Highlights

- 2,800m drill and fieldwork planned in 2024
- Mining permit valid until 2029
- Planned spinout to Mx2 Mining, with Aya as majority shareholder
- Location: 55km SSW from the city of Marrakech
- Previous exploration (1999-2011)
  - Mapping, trenching and channel sampling identified 57 mineralized showings
  - 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)

Location

The Amizmiz property is in the Occidental Range of the High Atlas mountains in the province of Marrakech. It is situated 55 kilometers SSW from the city of Marrakech, 7 kilometers WSW of the town of Amizmiz, and 12 kilometers directly north of our Azegour mine.

Access

From Marrakech, a paved highway runs across the Haouz Plain. Just before the town of Amizmiz, a narrow paved road (P202) branches northwestward some eight kilometers to the village of Tizguine. A well-maintained road can be taken for 3.5 kilometers to reach the showings in the TRN zone of the Amizmiz property. The general area of the AZ zone is accessible through a series of back roads going south from the P202 road.

Surface area

The property consists of a mining permit covering 17 km².

Geology

The property straddles the Quaternary Haouz Plain and the Sub-Atlasic Zone which are separated by the Amizmiz Fault. Exposed rocks are principally of Lower to Upper Cambrian age and comprise a series of schist (schist, schistose and calcareous schist), marbleized limestone, overlying a volcanic assemblage of felsic pyroclastic rock, andesite and basalt. The Hercyninan Azegour pluton intruded the volcanosedimentary sequence. A thick Cretaceous continental and marine sedimentary sequence unconformably overlie part of the Azegour pluton and the Cambrian lithologies. The intense folding which affects the Cambrian rocks of the Amizmiz-Azegour area was attributed primarily to the Hercynian Orogeny. The deformation is characterized by strong schistosities, tight folding, overthrusting and nappes.

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°) (Figure 2). 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 magmatic source and to a lesser extent some 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.

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 (Maya) has performed some detailed geological mapping on the property. Particular attention was devoted to detailed mapping of the known mineralized zones consisting of polymetallic Au-bearing oxidized veins (Figures1 and 2). Extensive channel sampling was conducted on some of these zones. The principal mineralized vein systems, AZ and TRN, provided the best gold values as seen below:

Zone	Aug (g/t)	Width (m)	Length (m)	No. of samples
AzS1	11.90	1.78	16.00	8
AzN	12.30	0.54	16.00	11
TRNA	26.16	0.98	34.00	17
TRNC	9.46	1.68	19.55	10

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:

DDH #	From (m)	To (m)	Width (m)	True Width(m)	Au (g/t)
			Tiqlit Zone
A3	92.00	100.00	8.00	8.00	7.05
(Incl.)	92.00	112.00	20.00	20.00	3.02
A11	180.00	181.00	1.00	1.00	1,27
			AZ Zone
SCAZ-1	10.70	12.00	1.30	1.30	8.70
A-5	109.00	110.00	1.00	1.00	1.07
	118.00	119.00	1.00	1.00	1.56
			TR Zone
SCTR-1	25.47	26.97	1.50	1.50	25.16
	25.87	26.67	0.80	0.80	45.92
SCTR-5	69.94	73.31	3.37	3.37	0.59
SCTR-6	28.10	29.70	1.60	1.60	21.99
			T Hill
SCCT-2	137.40	138.40	1.00	1.00	1.20
	132.40	133.40	1.00	1.00	1.26

Qualified Person

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

Amizmiz Mine December 2010

Technical report

History

1999

Discovery of a gold-silver-bearing gossan by a shepherd at the base of a marbleized limestone cliff prompts Mr. El Mourabit to incorporate the SEGM company to investigate the region.

2001-2002

SEGM and SOFREMAR bore 18 diamond drill holes on several sites of the Amizmiz structure. The drilling campaign is accompanied by a more aggressive exploration program that consists of mapping, prospecting, a geochemical survey and some trenching.

2004

Reminex completes due diligence on the Amizmiz project on behalf of SEGM and the Compagnie Minière de Guemassa (ONA Group).The work consists of geological mapping, rock sampling, geochemistry and stream sediment geochemical surveys.

2005

SEGM excavates and samples six adits in the Amizmiz structure.

2006

SEGM excavates several trenches on the T, AzS and Az10 zones.

2007

Accord and SEGM agree to a joint venture. Ground magnetic and IP surveys are conducted by SAGAX Maghreb over the Amizmiz structure. The detailed mapping campaign reveals new mineralized zones.

2008

The company Accord withdraws from the Amizmiz project.

2009-2011

Aya acquires Amizmiz and carries out exploration work including mapping, trenching, channel sampling and drilling.

2024

2,800 drill program planned;

Term sheet to spinout to Mx2 Mining