TSX: AYA.TO
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Silver: US $
Zinc: US $
Copper: US $

Boumadine (Au, Ag, Zn, Pb, Ge)

About

    The Boumadine historic mine and polymetallic deposit is located in the region of Drâa-Tafilalet, in the Anti-Atlas mountains, about 240 km from Ouarzazate in western Morocco.

 

Highlights


 

  • Ownership: Aya 85%-ONHYM 15% joint venture
  • Mining and exploration permits comprising 32 km²
  • Previously mined as both open pit and underground between ~1950s-1992
  • Historical resource estimated in 1998 (non NI 43-101 compliant)
    • Grab & channel sampling programs
    • 7,810m diamond drill program conducted on 3 zones of interest (Imariren, Centre, and North)
  • Geotech to fly a heliborne VTEM™ terrain, magnetic and radiometric geophysical survey over the property

 

History

1400-1600

Artisanal mining of upper section

1956-1989

Exploration work by the BRPM (now ONHYM)

1988

Historical mineral resources

1989-1992

UG production: 261,485t
@3.8% Zn. 1.5% Pb,
200 g/t Ag & 3.50 g/t Au

2013

Acquisition of 85%
of Boumadine

2015

Completion of
an access road

2017

Lixiviation tests
Drone surface survey

2018

6,900m DD
program

2019

PEA &
NI 43-101

2022

Heliborne VTEM™ terrain, magnetic
& radiometric geophysical survey

Technical Reports

Technical report
 

Mining Installations

The mining installations were probably dismantled shortly after the mine closed in 1992, and some are still visible at the mine site. Two dry stacked tailings, which are exposed on the site, hold some 240,000t of residues generated by underground mining of the Boumadine deposit from 1988 to 1992.
Surface and underground mine workings remain including at least 6 excavated shafts (638m) and 6,036m of underground adits, raises and stopes distributed in 5 main areas: Central Zone, Northern Zone, Southern Zone, Tizi Zone and Imariren Zone. Numerous pits and trenches are visible throughout the property ranging from a few square meters to over 1,000m² in area.


 


 

Mineralization

The polymetallic mineralization at Boumadine extends at least for 4 km on the surface. The mineralized zones consist of 1m to 4m-wide N160°E-oriented lenses/veins dipping sharply (> 70°) to depths of 350 m and spatially associated with the TTF. The veins contain massive pyrite, sphalerite, arsenopyrite, and galena with subordinate amounts of chalcopyrite, cassiterite, silver-rich sulfosalts, stannite, enargite, bismuthinite, native silver, tin, copper and bismuth. The upper 40m are affected by supergene alteration (Fe-hydroxyde-rich ‘‘mantos’’), that were near completely mined by artisanal workers. The felsic volcanic hosts display a silicic-argillic alteration halo, 40-100 m wide, that overprints the pervasive propylitised rocks and confers a bleached aspect to the halo. This alteration zone contains an assemblage of quartz-sericite-pyrite with pyrite decreasing away from the veins. The Boumadine deposit is interpreted as low-intermediate sulphidation epithermal silver-gold base metal deposit, with the potential of discovering Cu±Au porphyry-type mineralization at depth.

There are two principal mineralizing stages controlled by the strain applied to the TTF volcanosedimentary assemblage. The first mineralizing event involved the deposition of massive pyrite, occasionally banded, succeeded by the injection of parallel veinlets of arsenopyrite in the first stage pyrite. These veins were formed under a N160°E shortening strain. The second stage of mineralization first involved crystallization of sphalerite and galena cementing the first stage sulphides or occurring as vein filling material forming banded ore. The latest mineralization stage started with the deposition of quartz in dissolution cavities and as crosscutting veinlets, followed by crystallization in decreasing abundance of: grey copper, argentopyrite, schapbachite, pyrargyrite, polybasite and native antimony-silver-bismuth. Emplacement of polymetallic and precious metal veins is consistent with a N30°E shortening direction.

Grab sample locations with Au values in ppm

History

2019

Aya validates that historical mineralized panels are still in place and extends mineralization at depth -Discovers germanium 497 g/t over 1.5m in core samples -Finds gold at surface 48 g/t over 2m.

Positive NI 43-101 PEA results: Pre-tax IRR of 56% with an NPV of US$574.8 Million; And after-tax(*) IRR of 53% with an NPV of US$497.6 Million (NPV discounted at 6.5%).

Filing of technical reports on positive PEA

2018

Aya announces diamond drilling program to test historical intersections in three sectors.

Aya intersects 28m at 4.91g/t Au, 140 g/t Ag, 0.18 Cu, 0.41% Pb and 1.70% Zn at shallow depth of 153m including 6m at 11.02g/t Au, 219 g/t Ag, 0.39% Cu, 0.12% Pb and 0.55% Zn at 175m.

Metallurgy issues resolved, with 96.37% gold recovery achieved.

2017

Aya retains GoldMinds Geoservices Inc. to prepare a PEA on Boumadine by year-end 2017.

Pressure roasting and lixiviation tests conducted in China by CINF.

Topography surface survey carried out using drone

2016

Surface sampling, data compilation and initial preparations for a base camp

2015

Finalization of a US$6M loan with the European Bank for Reconstruction and Development

Realisation of an access road to the Boumadine site

2013

Acquisition of the Boumadine Polymetallic Mine
Joint venture between Maya Gold and Silver Inc (85%) and ONHYM (15%) to explore and develop Boumadine

Filing of NI 43-101 report on historical resources at Boumadine