Aya Gold & Silver Announces At-Depth Drill Results at Zgounder Provides Notice of Q1-2024 Results and Conference Call
PRESS RELEASE
.
Aya Gold & Silver Announces At-Depth Drill Results at Zgounder
Provides Notice of Q1-2024 Results and Conference Call
Montreal, Quebec, May 2, 2024 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce high-grade silver drill results from its at-depth drill exploration
program at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights
(all intersections are in core lengths)
• In the Central Zone from the 1,950m level:
• hole ZG-SF-24-107 intercepted 1,459 grams per tonne (“g/t”) silver (“Ag”) over 5.5 meters
(“m”), including 3,086 g/t Ag over 2.5m
• In the Western Zone from the 2,000m level:
• hole DZG-SF-24-018 intercepted 902 g/t Ag over 11.0m, including 1,453 g/t Ag over 6.5m
• hole DZG-SF-24-025 intercepted 1,548 g/t Ag over 4.0m, including 5,794 g/t Ag over 1.0m
• In the Eastern Zone from the 2,075m level:
• hole T28-24-2075-122 intercepted 1,458 g/t Ag over 9.6m, including 2,804 g/t Ag over 4.8m
• hole T28-24-2075-123 intercepted 2,055 g/t Ag over 4.8m, including 3,924 g/t Ag over 2.4m
• In the Central Zone from the 1,950m level:
• hole YAKD-24-1950-015 intercepted 465 g/t Ag over 20.4m, including 1,393 g/t Ag over 3.6m
• Exploration holes near the granite contact:
• ZG-SF-23-076 intercepted 594 g/t Ag over 3.0m
• ZG-SF-24-096 intercepted 780 g/t Ag over 2.0m
• ZG-SF-24-102 intercepted 524 g/t Ag over 3.0m
• ZG-SF-24-110 intercepted 375 g/t Ag over 7.5m and 1,108 g/t Ag over 1.5m
• ZG-SF-24-115 intercepted 1,177 g/t Ag over 1.5m
• 9,900m of the 2024 underground exploration program drilled year to date
“Today’s high-grade drill results including holes DZG-SF-24-018 and DZG-SF-24-025 continue to
confirm high-grade continuity of silver mineralization at Zgounder,” said Benoit La Salle, President &
CEO. “Furthermore, we are pleased with the new silver rich intercepts near the granite contact,
demonstrating strong resource potential at depth at Zgounder. We currently have four underground
rigs turning and expect more significant drill results in the coming months.”
Included in this release are results for 176 holes, which include 52 underground Diamond Drill Holes
(“DDH”), 8 surface DDH, 100 T28 and 16 YAK holes (T28 and YAK: percussion drilling using an air-
compressed hammer). For a full summary of today’s results, refer to Appendix 1.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
HOLE ID From To Ag Length
(m)* Ag x width (g/t)
Underground DDH
ZG-SF-23-076 288.0 291.0 594 3.0 1,782
ZG-SF-24-096 264.0 266.0 780 2.0 1,560
ZG-SF-24-102 124.0 127.0 524 3.0 1,572
ZG-SF-24-107 100.0 105.5 1,459 5.5 8,022
Including 100.0 102.5 3,086 2.5 7,714
ZG-SF-24-108 67.7 70.7 1,292 3.0 3,876
ZG-SF-24-110 82.0 89.5 375 7.5 2,816
Including 86.5 87.5 2,112 1.0 2,112
ZG-SF-24-110 93.5 95.0 1,108 1.5 1,662
ZG-SF-24-115 164.0 165.5 1,177 1.5 1,766
DZG-SF-24-016 0.0 33.5 180 33.5 6,018
Including 28.5 31.5 607 3.0 1,820
DZG-SF-24-017 63.0 67.0 442 4.0 1,769
DZG-SF-24-018 10.5 21.5 902 11.0 9,924
Including 14.0 20.5 1,453 6.5 9,442
DZG-SF-24-021 1.0 5.0 953 4.0 3,810
Including 2.0 3.5 2,296 1.5 3,444
DZG-SF-24-025 28.5 32.5 1,548 4.0 6,190
Including 31.5 32.5 5,794 1.0 5,794
DZG-SF-24-029 28.5 37.5 184 9.0 1,656
DZG-SF-24-037 61.0 67.0 635 6.0 3,810
Underground T28
TD28-24-1950-032 0.0 4.8 972 4.8 4,664
TD28-24-1975-073 10.8 14.4 1,008 3.6 3,629
TD28-24-1975-075 13.2 15.6 662 2.4 1,588
TD28-24-2075-122 0.0 9.6 1,458 9.6 14,000
Including 0.0 4.8 2,804 4.8 13,458
TD28-24-2075-123 0.0 4.8 2,055 4.8 9,864
Including 0.0 2.4 3,924 2.4 9,418
Underground YAK
YAKD-24-1950-005 28.8 33.6 345 4.8 1,656
YAKD-24-1950-013 25.2 31.2 365 6.0 2,192
YAKD-24-1950-014 34.8 45.6 416 10.8 4,496
Including 37.2 39.6 1,212 2.4 2,909
YAKD-24-1950-015 28.8 49.2 465 20.4 9,478
Including 33.6 37.2 1,393 3.6 5,014
YAKD-24-1950-021 30.0 34.8 337 4.8 1,618
1 Holes were drilled at various angles; true widths are not known at this time.
2 All assay results are above the cut-off grade of 75 g/t Ag
Figure 1: Location of Drill Results at Zgounder
Quality Assurance
For core drilling, all individual samples represent approximately one meter in length of core, which is
halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and
assaying to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco. All
samples are analyzed for silver, copper, iron, lead, and zinc using Aqua regia and finished by atomic
absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are reanalyzed using fire
assaying.
For definition drilling using T28 drilling equipment, all individual samples represent 1.2m in length.
Samples are assayed at either the Zgounder Mine laboratory or at Afrilab. At Afrilab, all samples are
analyzed for silver, copper, iron, lead, and zinc using Aqua regia and finished by AAS. Samples grading
above 200 g/t Ag are reanalyzed using fire assaying. At ZMSM, all samples are analyzed for silver
only using Aqua regia and finished by AAS. Rigorous quality controls (QaQc) are applied at both
locations.
David Lalonde, B.Sc. P. Geo, Head of Exploration, is Aya Gold & Silver’s Qualified Person and has
reviewed this press release for accuracy and compliance with National Instrument 43-101.
Q1-2024 Results and Conference Call
The Corporation will release its Q1-2024 financial and operational results on May 15, 2024 before
market-open.
Management will host a conference call on the same day, Wednesday, May 15, 2024, at 10 am E DT
to discuss the results.
Webcast link: https://edge.media-server.com/mmc/p/krs2wcnf/
Instructions for obtaining conference call dial-in numbers:
1. All parties must register on the link below to participate in the conference call.
2. Register by clicking
https://register.vevent.com/register/BIdb50bb18cbe144dba57e964fae5acbb6 and
completing the online registration form.
3. Once registered, you will receive the dial-in numbers and PIN number for input at the time of
the call.
The live webcast will be archived and will be available for replay. Presentation slides that will
accompany the conference call will also be posted on Aya’s website.
About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the
Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine
and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted
past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by
its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team has been focused on maximising shareholder value by anchoring
sustainability at the heart of its operations, governance, and financial growth plans.
For additional information, please visit Aya’s website at www.ayagoldsilver.com.
Or contact
Benoit La Salle, FCPA, MBA
President & CEO
Alex Ball
VP, Corporate Development & IR
Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the
meaning of applicable securities laws (“forward-looking statements”), which reflects management’s
expectations regarding Aya’s future growth and business prospects (including the timing and
development of new deposits and the success of exploration activities) and other opportunities.
Wherever possible, words such as “validate”, “confirm”, “potential”, “expect”, “continue”, “objective”,
“expand”, ,and similar expressions or statements that certain actions, events or results “may”, “could”,
“would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify
such forward-looking information. Specific forward-looking statements in this press release include,
but are not limited to, statements and information with respect to the exploration and development
potential of Zgounder in particular the nature of the deposit as it hits the granite and the continuation
of down-plunge extensions, the conversion of Inferred Mineral Resources into Measured and
Indicated Mineral Resources and future opportunities for enhancing development at Zgounder
including the possible expansion of the mineral resource at depth. Although the forward-looking
information contained in this press release reflect management’s current beliefs based upon
information currently available to management and based upon what management believes to be
reasonable assumptions, Aya cannot be certain that actual results will be consistent with such
forward-looking information. Such forward-looking statements are based upon assumptions,
opinions and analysis made by management in light of its experience, current conditions, and its
expectations of future developments that management believe to be reasonable and relevant but that
may prove to be incorrect. These assumptions include, among other things, the ability to obtain any
requisite governmental approvals, obtaining regulatory permits for on-site work, importing goods and
machinery and employment permits, the accuracy of Mineral Reserve and Mineral Resource
Estimates (including, but not limited to, ore tonnage and ore grade estimates), the price of silver, the
price of gold, exchange rates, fuel and energy costs, future economic conditions, anticipated future
estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon
any such forward-looking statements.
The risks and uncertainties that may affect forward-looking statements include, among others: the
inherent risks involved in exploration and development of mineral properties, including government
approvals and permitting, changes in economic conditions, changes in the worldwide price of silver
gold and other key inputs, changes in mine plans (including, but not limited to, throughput and
recoveries being affected by metallurgical characteristics) and other factors, such as project
execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties
which are more fully described in Aya’s 2023 Annual Information Form dated March 28, 2024, and in
other filings of Aya with securities and regulatory authorities which are available on SEDAR+ at
www.sedarplus.ca. Aya does not undertake any obligation to update forward-looking statements
should assumptions related to these plans, estimates, projections, beliefs, and opinions change.
Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell
Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.
Appendix 1 - Mineral Intercepts from Drilling at Zgounder (core lengths)
HOLE ID From To Ag Length
(m)* Ag x width (g/t)
Underground DDH
ZG-SF-23-076 288.0 291.0 594 3.0 1,782
ZG-SF-24-091 204.0 205.5 200 1.5 300
ZG-SF-24-091 214.5 216.0 192 1.5 288
ZG-SF-24-091 246.0 247.0 82 1.0 82
ZG-SF-24-091 251.5 253.0 152 1.5 228
ZG-SF-24-096 219.0 220.0 136 1.0 136
ZG-SF-24-096 264.0 266.0 780 2.0 1,560
ZG-SF-24-097 72.0 78.5 188 6.5 1,222
ZG-SF-24-098 36.0 37.5 76 1.5 114
ZG-SF-24-098 102.0 102.5 1,004 0.5 502
ZG-SF-24-100 109.0 110.5 576 1.5 864
ZG-SF-24-100 130.5 133.5 338 3.0 1,014
ZG-SF-24-101 57.5 62.0 186 4.5 835
ZG-SF-24-101 67.5 69.0 93 1.5 139
ZG-SF-24-102 124.0 127.0 524 3.0 1,572
ZG-SF-24-107 100.0 105.5 1,459 5.5 8,022
Including 100.0 102.5 3,086 2.5 7,714
ZG-SF-24-107 109.5 111.0 484 1.5 726
ZG-SF-24-108 67.7 70.7 1,292 3.0 3,876
ZG-SF-24-110 82.0 89.5 375 7.5 2,816
Including 86.5 87.5 2,112 1.0 2,112
ZG-SF-24-110 93.5 95.0 1,108 1.5 1,662
ZG-SF-24-115 164.0 165.5 1,177 1.5 1,766
ZG-SF-24-115 190.0 191.5 184 1.5 276
DZG-SF-24-011 50.0 52.5 398 2.5 994
DZG-SF-24-014 40.5 42.0 104 1.5 156
DZG-SF-24-014 46.5 49.5 98 3.0 294
DZG-SF-24-014 58.5 61.0 131 2.5 328
DZG-SF-24-016 0.0 33.5 180 33.5 6,018
Including 28.5 31.5 607 3.0 1,820
DZG-SF-24-017 57.0 59.0 98 2.0 196
DZG-SF-24-017 63.0 67.0 442 4.0 1,769
Including 63.0 64.5 917 1.5 1,376
DZG-SF-24-018 1.0 4.0 491 3.0 1,472
DZG-SF-24-018 10.5 21.5 902 11.0 9,924
Including 14.0 20.5 1,453 6.5 9,442
DZG-SF-24-019 0.0 4.0 284 4.0 1,136
DZG-SF-24-019 14.0 20.0 127 6.0 762
DZG-SF-24-021 1.0 5.0 953 4.0 3,810
Including 2.0 3.5 2,296 1.5 3,444
DZG-SF-24-021 12.0 13.0 168 1.0 168
DZG-SF-24-022 31.0 32.5 100 1.5 150
DZG-SF-24-022 34.0 38.5 116 4.5 522
DZG-SF-24-022 41.5 43.0 84 1.5 126
DZG-SF-24-023 45.5 46.5 528 1.0 528
DZG-SF-24-023 60.5 61.5 88 1.0 88
DZG-SF-24-024 36.0 37.5 176 1.5 264
DZG-SF-24-024 48.0 49.5 84 1.5 126
DZG-SF-24-025 6.0 7.5 124 1.5 186
DZG-SF-24-025 28.5 32.5 1,548 4.0 6,190
Including 31.5 32.5 5,794 1.0 5,794
DZG-SF-24-025 41.5 47.5 85 6.0 507
DZG-SF-24-026 22.5 24.0 100 1.5 150
DZG-SF-24-027 16.5 17.5 120 1.0 120
DZG-SF-24-027 32.5 35.5 86 3.0 258
DZG-SF-24-027 47.5 49.0 224 1.5 336
DZG-SF-24-028 37.0 38.5 96 1.5 144
DZG-SF-24-029 28.5 37.5 184 9.0 1,656
DZG-SF-24-031 48.0 49.0 96 1.0 96
DZG-SF-24-033 0.0 3.0 277 3.0 832
DZG-SF-24-033 14.5 16.0 84 1.5 126
DZG-SF-24-033 19.0 22.0 128 3.0 384
DZG-SF-24-034 14.5 15.5 132 1.0 132
DZG-SF-24-034 83.0 84.0 120 1.0 120
DZG-SF-24-037 61.0 67.0 635 6.0 3,810
DZG-SF-24-037 73.0 74.5 128 1.5 192
DZG-SF-24-039 0.0 1.0 908 1.0 908
DZG-SF-24-039 7.0 8.5 148 1.5 222
DZG-SF-24-039 14.5 16.0 84 1.5 126
DZG-SF-24-039 20.0 21.0 144 1.0 144
DZG-SF-24-039 39.0 40.5 644 1.5 966
DZG-SF-24-040 84.0 85.0 92 1.0 92
DZG-SF-24-040 89.0 90.5 164 1.5 246
DZG-SF-24-041 79.0 80.0 264 1.0 264
Underground T28
TD28-24-1950-032 0.0 4.8 972 4.8 4,664
TD28-24-1950-032 22.8 24.0 473 1.2 568
TD28-24-1975-046 3.6 4.8 154 1.2 185
TD28-24-1975-048 6.0 8.4 91 2.4 218
TD28-24-1975-048 22.8 25.2 349 2.4 838
TD28-24-1975-049 3.6 7.2 236 3.6 851
TD28-24-1975-049 20.4 21.6 93 1.2 112
TD28-24-1975-050 16.8 18.0 205 1.2 246
TD28-24-1975-073 10.8 14.4 1,008 3.6 3,629
TD28-24-1975-075 13.2 15.6 662 2.4 1,588
TD28-24-1975-077 14.4 19.2 178 4.8 854
TD28-24-1975-081 15.6 16.8 430 1.2 516
TD28-24-1975-087 7.2 8.4 87 1.2 104
TD28-24-2000-059 4.8 6.0 269 1.2 323
TD28-24-2000-061 0.0 2.4 106 2.4 253
TD28-24-2000-068 10.8 14.4 143 3.6 516
TD28-24-2000-068 21.6 24.0 98 2.4 234
TD28-24-2000-070 0.0 4.8 154 4.8 737
TD28-24-2075-120 0.0 4.8 224 4.8 1,073
TD28-24-2075-122 0.0 9.6 1,458 9.6 14,000
Including 0.0 4.8 2,804 4.8 13,458
TD28-24-2075-123 0.0 4.8 2,055 4.8 9,864
Including 0.0 2.4 3,924 2.4 9,418
TD28-24-2075-124 0.0 2.4 238 2.4 570
TD28-24-2075-125 1.2 2.4 85 1.2 102
TD28-24-2100-099 6.0 8.4 229 2.4 548
TD28-24-2100-110 0.0 2.4 342 2.4 820
Underground YAK
YAKD-24-1950-005 28.8 33.6 345 4.8 1,656
Including 28.8 30.0 1,140 1.2 1,368
YAKD-24-1950-005 40.8 42.0 146 1.2 175
YAKD-24-1950-006 27.6 31.2 154 3.6 553
YAKD-24-1950-006 40.8 42.0 104 1.2 125
YAKD-24-1950-007 44.4 46.8 242 2.4 581
YAKD-24-1950-008 10.8 18.0 152 7.2 1,096
YAKD-24-1950-012 38.4 42.0 407 3.6 1,464
YAKD-24-1950-013 25.2 31.2 365 6.0 2,192
YAKD-24-1950-014 26.4 28.8 259 2.4 620
YAKD-24-1950-014 34.8 45.6 416 10.8 4,496
Including 37.2 39.6 1,212 2.4 2,909
YAKD-24-1950-015 13.2 14.4 110 1.2 132
YAKD-24-1950-015 28.8 49.2 465 20.4 9,478
Including 33.6 37.2 1,393 3.6 5,014
YAKD-24-1950-021 30.0 34.8 337 4.8 1,618
YAKD-24-1950-021 42.0 43.2 80 1.2 96
YAKD-24-1950-021 44.4 45.6 137 1.2 164
YAKD-24-1950-022 16.8 18.0 76 1.2 91
YAKD-24-1950-022 20.4 21.6 93 1.2 112
YAKD-24-1950-023 24.0 25.2 142 1.2 170
YAKD-24-1950-024 27.6 32.4 298 4.8 1,428
1 Holes were drilled at various angles, true widths are not known at this time.
2 All assay results are above the cut-off grade of 75 g/t Ag.