Aya Gold & Silver Accelerates Boumadine Feasibility Study with $360M Drilling Campaign
Event summary
- Aya Gold & Silver commenced a feasibility study for the Boumadine project, following a positive PEA announced in November 2025.
- The company is conducting a $360M infill drilling campaign, with 38,000 meters completed as of March 10, 2026.
- Boumadine is a district-scale project combining open-pit and underground mining, with revenues driven by precious metals (61% gold, 21% silver).
- The feasibility study is expected to be completed by H2-2027, with multiple workstreams advancing in parallel.
The big picture
Aya Gold & Silver is advancing its Boumadine project with a comprehensive feasibility study, aiming to optimize project design and refine cost estimates. The project's focus on precious metals aligns with current market trends favoring gold and silver investments. The company's strategic use of multiple engineering firms underscores the complexity and scale of the development, positioning Boumadine as a significant player in Morocco's mining sector.
What we're watching
- Execution Risk
- Whether Aya can maintain the aggressive pace of its drilling campaign and feasibility study without operational disruptions.
- Resource Growth
- How the infill drilling and step-out drilling will impact the mineral resource estimate and potential plant throughput.
- Market Dynamics
- The pace at which precious metal prices will influence the project's economic viability and investment attractiveness.
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