Core Viewpoint - Aya Gold & Silver Inc. has filed a Preliminary Economic Assessment (PEA) for the Boumadine Polymetallic Project in Morocco, indicating a promising development-stage project with significant economic potential [1][2]. PEA Highlights - The PEA outlines a district-scale project featuring a flexible open-pit and underground mining plan, with a conventional flotation plant producing three payable concentrates: zinc, lead, and pyrite. The project has an estimated mine life of 11 years, with revenues primarily driven by precious metals [2]. Project Economics - The PEA includes a sensitivity analysis reflecting +/- 25% variations to the Base Case scenario, showing significant changes in Net Present Value (NPV) and Internal Rate of Return (IRR) based on different gold and silver price scenarios [4]. - Under the Base Case, the post-tax NPV5% is estimated at $1.5 billion with a 47% IRR and a payback period of 2.1 years. In a Spot Price scenario, the post-tax NPV5% could reach $3.0 billion with a 77% IRR and a payback period of 1.2 years [6]. Production and Cost Metrics - Average annual production is projected at 401 thousand ounces of gold-equivalent in the first five years, with a total of 328 thousand ounces of gold-equivalent per year over the life of the mine. The initial capital cost is estimated at $446 million, with cash costs of $928 per ounce of gold-equivalent and all-in sustaining costs (AISC) of $1,021 per ounce [6][7]. Permitting and Future Plans - The project has an existing mining license, and a feasibility study is targeted for completion in late 2027, indicating a structured approach towards advancing the project [6]. Company Overview - Aya Gold & Silver Inc. is a rapidly growing silver producer based in Canada, operating in Morocco. It is the only TSX-listed pure silver mining company and is focused on maximizing shareholder value through sustainable practices [10][11].

Core Insights - Cerro de Pasco Resources Inc. (CDPR) has made significant progress in the Quiulacocha Tailings Reprocessing Project, transitioning from Phase 1 to Phase 2, which is crucial for both resource recovery and environmental remediation in Peru [1][11]. Phase 1 Achievements - A 40-hole sonic drill program has been completed, confirming metal grades and continuity, with ongoing tendering for Phase 2 drilling contractors [2]. - Extensive mineralogical and metallurgical tests are being conducted to determine effective metal recovery methods [3]. Environmental Studies - Completion of wet season baseline studies and ongoing dry season assessments, including various monitoring techniques [4][19]. - The environmental baseline program aims to reduce long-term liabilities and improve regional conditions through tailings reprocessing [19]. Hydrogeology and Geotechnics - High-resolution surveys have been integrated into hydrogeological models, guiding mine planning and infrastructure requirements for Phase 2 [5][22]. - Initial assessments for long-term tailings storage and re-mining methods have been completed, confirming efficient dredging capabilities [6][23]. Permitting and Approvals - Submission of Phase 1 Results Report has initiated the regulatory process for Phase 2 drilling, with CDPR fully funded for ongoing programs [7][11]. - Recent resolutions from Peru's Mining Council have clarified the permitting process, aligning authorities for the project's advancement [11]. Upcoming Milestones - Key milestones include the completion of the integrated metallurgical program in Q1 2026, commencement of Phase 2 drilling, and advancement into pre-feasibility studies [9][12]. Technical Program Update - The project is supported by a rigorous technical work program, with metallurgical testing defining effective processing routes for multiple products [12][18]. - The initial metallurgical phase is expected to conclude in Q1 2026, followed by further testing [17]. Mineralogical and Metallurgical Testing - The mineralogy program includes various advanced testing methods to analyze metal associations and recovery factors [13]. - The metallurgical program focuses on recovering multiple metals into saleable concentrates, with initial flotation tests showing promising results [14][15]. Re-mining and Tailings Storage - Studies on re-mining methods and tailings storage have evaluated various factors, supporting low-cost dredging and operational efficiency [23][24]. - The combined Phase 1 and Phase 2 drilling program will provide essential datasets for feasibility-level engineering [25][26]. Company Overview - CDPR is focused on developing its El Metalurgista mining concession, which contains silver-rich tailings from over a century of mining, aiming to unlock value while promoting sustainable development [28].

Core Insights - Cerro de Pasco Resources Inc. (CDPR) has made significant progress in the Quiulacocha Tailings Reprocessing Project, transitioning from Phase 1 to Phase 2, which is crucial for both resource recovery and environmental remediation in Peru [1] Phase 1 Achievements - A 40-hole sonic drill program has confirmed metal grades and continuity, supporting the mineral resource estimate for the Quiulacocha tailings [2] - Extensive mineralogical and metallurgical tests are being conducted to determine effective metal recovery methods [3] Environmental Studies - Completion of wet season baseline studies and ongoing dry season assessments, including various monitoring techniques [4] - Environmental baseline data will support the project's Environmental Impact Assessment, aiming to reduce long-term environmental liabilities [19] Hydrogeology and Geotechnics - High-resolution surveys have been integrated into hydrogeological models and stability assessments, guiding mine planning and drilling infrastructure [5][22] - Initial assessments for long-term storage sites and re-mining methods have confirmed the efficient dredging and pumping of Quiulacocha tailings [6][23] Permitting and Approvals - Submission of Phase 1 Results Report has initiated the regulatory process for Phase 2 drilling, with CDPR fully funded for ongoing programs [7] - Recent resolutions from Peru's Mining Council have clarified the permitting process, aligning authorities for the project's advancement [11] Upcoming Milestones - Key milestones include the completion of the integrated metallurgical program in Q1 2026, submission and approval of necessary permits, and commencement of Phase 2 drilling [9] Technical Program Update - The project is supported by a rigorous technical work program, with metallurgical testing defining effective processing routes [12] - The initial metallurgical phase is expected to conclude in Q1 2026, followed by further testing [17] Mineralogical and Metallurgical Testing - The mineralogy program includes various advanced testing methods to determine metal associations and recovery factors [13] - The metallurgical program focuses on recovering multiple metals into saleable concentrates, with initial flotation tests showing promising results [14][15] Tailings Management - Studies on tailings storage and re-mining methods are ongoing, evaluating capacity, land suitability, and environmental considerations [24] - The tailings are confirmed to be pumpable within an optimal solids concentration range, supporting low-cost extraction methods [23] Phase 2 Drilling Program - The upcoming drilling campaign will complete the necessary datasets for feasibility-level engineering, with approximately 116 drillholes planned [25][26]