Gold: US $
Silver: US $
Zinc: US $
Copper: US $

Zgounder (Ag)

About Zgounder

Located in the central Anti-Atlas mountains, Zgounder is the second most-important silver mine in Morocco after the Imiter Mine. A 2,700-tpd expansion feasibility study was delivered in February 2022 that, supported by a high-grade reserve estimate, confirmed strong economics for quadrupling post-expansion production to 6.8 million oz Ag. At end of January 2023, expansion of the Zgounder Mine was about 83% complete.



  • 2023 silver production: 1.97 million oz
  • Type of mine: underground
  • Current mining method: cut and fill
  • Processing method: flotation (500 tpd) – cyanidation (200 tpd)
  • Expansion to 2,700 tpd underway for expected completion in 2024
  • Ownership: 100%
  • 2022 mineral reserves: 8,590,000t at 257 g/t Ag for 70,876,000 oz
  • M&I mineral resources: 9,765,000t at 306 g/t Ag for 96,057,000 oz (December 13, 2021)
  • Inferred mineral resources: 542,000t at 367 g/t Ag for 6,395,000 oz (December 13, 2021)
  • 2024 exploration: 15,000m drilling (mine permit) and 10,000m (regional permits)



900 - 1200

First explored and mined

1982 - 1990

SOMIL-owned UG mine at 75,000t/yr

1990 - 1997

Exploration by the BRPM


PFS to re-open Zgounder Mine


Acquisition of Zgounder


Creation of Zgounder Millenium Silver Mining


First silver pour:
200-tpd mill capacity

2015 - 2017

4,820m of T28 drilling &
13,140m of DD surface drilling


PEA & NI 43-101


Flotation plant:
commercial production


Flowsheet reconfiguration


2,700 tpd expansion
feasibility study


The mine is located approximately 260 kilometers east of Agadir, within the Proterozoic Siroua Massif of the Anti-Atlas range.


The Zgounder Mine is accessible from Agadir on well-maintained paved highways (N10 and P1706) that run east for 205 kilometers to Taliouine in the Taroudant province. The bulk of the remaining 61 kilometers to the mine are traveled on a well-paved road to the village of Askaoun. The last five-kilometer stretch to the mine is travelled on a dirt road.

Surface area

The Zgounder mining permit covers 16 km². Zgounder Regional consists of 7 mining permits and 18 exploration permits that cover an additional 350 km².

Operating Highlights

2023 2022 2021 2020 2019 2018
Ore processed (tons) 281,634 254,976 224,515 128,923 100,667 39,763
Average grade (g/t Ag) 250 265 269 255 217.6 278.5
Silver ingots produced (oz) 740,236 855,351 692,392 439,448 286,294 258,469
Silver concentrate produced (oz) 1,230,410 1,025,356 908,254 286,871 166,122
Total silver produced (oz) 1,970,646 1,880,707 1,600,646 726,319 452,416 258,469


According to Marcoux @ al., 2005, “The Zgounder mineralisation is hosted within a Proterozoic volcanosedimentary series. Disseminated mineralization is dominated by mercuriferous native silver (2 to 30 wt.% Hg), with few silver sulfosalts (acanthite, pearceite), arsenopyrite and base-metal sulfides (Fe, Pd, Zn and Cu). Similarities are obvious with the neighbouring silver deposit of Imiter (Managem, located 350km East) and lead to consider Zgounder as another example of Neoproterozoic epithermal deposit in the Anti-Atlas of Morocco, a region that appears more and more as a silver metallogenic province”.

The paragenetic sequence shows two successive stages: an early Fe–As stage, followed by an Ag-bearing polymetallic (Zn–Pb–Cu–Hg) stage.
Paragenetic sequence and mineral intergrowth suggest that the two mineralisation styles belong to a single hydrothermal event. Native silver is by far the most common silver mineral. It is not pure silver, but a Ag–Hg amalgam. Acanthite (Ag2S) is the main silver sulfide but less abundant, also present are tennantite and tetrahedrite.


For 2024, a 25,000m drill program has been planned at Zgounder. A total of 15,000m will follow up underground targets  generated by the 2023 near-mine program. Additionally, 10,000m of diamond drilling have been planned on the Zgounder Regional permits to find similar mineralization to the Zgounder deposit and to test Cu-Ag mineralization at Tirzzit.

Zgounder M&I Resources with 2024 Drill Program

Qualified Persons

The Zgounder Expansion Feasibility Study is based on a technical report entitled “NI43-101 TECHNICAL REPORT – FEASIBILITY STUDY ZGOUNDER EXPANSION PROJECT”, originally dated March 31, 2022, and amended on June 16, 2022 with an effective date of December 13, 2021 (“The Zgounder Report”) which was prepared under the supervision of Daniel M. Gagnon, DRA, with the participation of William Stone, Antoine Yassa, Jarita Barry, Fred Brown, Eugene Puritch, Daniel Morrison, André-François Gravel, Claude Bisaillon, Julie Gravel, Kathy Kalenchuk, Hugo Della Sbarba, Philippe Rio Roberge, Richard Barbeau & Stephen Coates, all “Qualified Persons” for the purpose of the Zgounder Report.
Scientific and technical information contained on this page have been reviewed and approved by David Lalonde, B.Sc, Aya’s Head of Exploration and a QP as defined under NI 43-101.