Canada’s Aya Gold & Silver has acquired a package of mining licenses and exploration permits in Morocco, expanding its land position in the country and adding three new early-stage exploration projects to its growth pipeline.
The company said the acquisition comprises three mining licenses and 18 exploration permits covering about 259 square kilometers. The deal increases Aya’s total permit holdings in Morocco to more than 991 square km from roughly 732 square km previously.
The acquired assets include the Zagora project, south of the Bou Azzer mining district, where the company sees potential for nickel, cobalt, lead, zinc, silver and gold mineralization. The Agadir Melloul project in Taroudant province is prospective for copper, silver, gold and rare earth elements, while the Goulmim project, south of Guelmim, is considered prospective for lead, silver, copper and gold.
Aya said it plans to carry out exploration work on the properties over the next 18 to 24 months to assess their potential and determine whether additional geophysical surveys and drilling are warranted.
Chief Executive Benoit La Salle said the transaction strengthens the company’s position in Morocco and supports its strategy of building one of the country’s largest mineral exploration portfolios.
The acquisition follows Aya’s expansion at the Zgounder silver mine and ongoing development of the Boumadine polymetallic project, both key assets in the company’s Moroccan portfolio.
Aya acquired the portfolio for 10 million Moroccan dirhams ($1.1 million), including cash consideration and assumed debt. The sellers may also receive milestone-based payments linked to resource and development targets, as well as a 2% net smelter return royalty on any future commercial production from the assets.
The company said customary post-closing administrative procedures remain under way in Morocco.
