What's Happening?
Canadian mining company Aya Gold & Silver has commenced a feasibility study for the Boumadine polymetallic project located in Morocco's Province of Errachidia. This project is considered one of the most significant undeveloped precious-metal assets in the region.
The feasibility study follows a positive preliminary economic assessment released in November 2025. The Boumadine property, which covers 32 square kilometers, is situated approximately 220 km east of Ouarzazate and 70 km southwest of Errachidia. The study aims to refine project design and improve capital and operating cost estimates. Aya has engaged several engineering and consulting firms to assist with various aspects of the project, including process engineering, mineral resource estimation, and environmental and social impact assessments. The company plans to complete the study by the second half of 2027.
Why It's Important?
The development of the Boumadine mine is significant as it represents a major investment in the mining sector, potentially boosting the local economy and creating jobs. The project is expected to generate substantial revenue, with a projected post-tax net present value of $1.5 billion and a life-of-mine revenue of $7 billion. The mine's development could also contribute to the diversification of mineral resources, reducing reliance on traditional mining regions. Additionally, the project aligns with global efforts to secure critical minerals, which are essential for various industries, including technology and renewable energy. The involvement of international firms in the feasibility study highlights the global interest in Morocco's mineral resources.
What's Next?
Aya Gold & Silver plans to continue its extensive drilling campaign, with a target of 180,000 meters for 2026, to support mineral resource conversion and reserve estimation. An updated mineral resource estimate is expected in the second half of 2026. The company is also advancing water supply planning and evaluating the potential for a roaster facility for further treatment of pyrite concentrate. Additionally, Aya has initiated a bid process for detailed engineering of site access roads and infrastructure, including a proposed transmission line for grid power supply. The company aims to accelerate development at Boumadine as it enters the feasibility stage, with nearly 20% of the 2026 drilling objective already completed.
