Aya Gold & Silver Announces At-Depth High-Grade Drill Results at Zgounder
PRESS RELEASE
.
Aya Gold & Silver Announces At-Depth High-Grade Drill
Results at Zgounder
Montreal, Quebec, July 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.
Highlights (all intersections are in core lengths)
• In the Central Zone from the 1,950m level:
• hole DZG-SF-24-065 intercepted 2,870 grams per tonne (“g/t”) silver (“Ag”) over 6.5
meters (“m”), including 7,229 g/t Ag over 2.0m
• hole DZG-SF-24-057 intercepted 1,252 g/t Ag over 4.0m
• hole DZG-SF-24-070 intercepted 896 g/t Ag over 6.0m, including 3,820 g/t Ag over
1.0m
• In the Western Zone from the 2,000m level:
• hole DZG-SF-24-027 intercepted 7,631 g/t Ag over 1.5m
• hole DZG-SF-24-056 intercepted 625 g/t Ag over 14.0m, including 2,677 g/t Ag over
2.0m
• hole DZG-SF-24-060 intercepted 2,005 g/t Ag over 3.0m
• hole DZG-SF-24-064 intercepted 403 g/t Ag over 12.5m
• hole DZG-SF-24-067 intercepted 935 g/t Ag over 8.5m, including 4,440 g/t Ag over
1.5m
• In the Eastern Zone from the 1,950m level:
• hole DZG-SF-24-082 intercepted 656 g/t Ag over 12.0m, including 928 g/t Ag over
6.0m
• Exploration holes near the granite contact:
• ZG-SF-24-123 intercepted 5,696 g/t Ag over 2.5m
• ZG-SF-24-110 intercepted 523 g/t Ag over 13.0m including 4,638 g/t Ag over 1.0m
• ZG-SF-24-142 intercepted 522 g/t Ag over 14.5m including 1,356 g/t Ag over 4.5m
• 15,200m of the 2024 underground exploration program drilled year to date
“Today’s high-grade drill results including hole DZG-SF-24-065 continue to confirm high-grade
continuity of silver mineralization at Zgounder,” said Benoit La Salle, President & CEO. “These silver-
rich intercepts near the granite contact indicate strong resource potential at depth. We currently
have four underground rigs turning and will deliver additional results in the coming months.”
Included in this release are results for 204 holes, which include 105 underground DDH, 70 T28 and 29
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
(g/t) Length (m)* Ag x width
Underground DDH
ZG-SF-24-110 73.5 86.5 523 13.0 6,804
Including 84.5 85.5 4,638 1.0 4,638
ZG-SF-24-123 274.0 276.5 5,696 2.5 14,240
ZG-SF-24-133 59.0 63.5 796 4.5 3,582
Including 59.5 61.0 2,149 1.5 3,224
ZG-SF-24-135 106.5 109.0 1,898 2.5 4,746
ZG-SF-24-142 75.0 89.5 522 14.5 7,568
Including 79.0 83.5 1,356 4.5 6,102
DZG-SF-24-027 69.5 71.0 7,631 1.5 11,446
DZG-SF-24-032 22.5 33.5 319 11.0 3,508
DZG-SF-24-035 15.5 25.5 391 10.0 3,908
DZG-SF-24-035 37.5 49.5 263 12.0 3,155
DZG-SF-24-042 34.5 38.5 767 4.0 3,068
DZG-SF-24-056 15.5 29.5 625 14.0 8,756
Including 26.0 28.0 2,677 2.0 5,354
DZG-SF-24-057 65.0 69.0 1,252 4.0 5,008
DZG-SF-24-059 0.0 17.0 196 17.0 3,330
DZG-SF-24-060 26.0 29.0 2,005 3.0 6,016
DZG-SF-24-064 20.0 26.5 570 6.5 3,704
Including 20.0 24.5 745 4.5 3,352
DZG-SF-24-064 30.5 43.0 403 12.5 5,032
DZG-SF-24-065 79.0 85.5 2,870 6.5 18,652
Including 80.0 82.0 7,229 2.0 14,458
DZG-SF-24-067 16.5 25.0 935 8.5 7,950
Including 23.5 25.0 4,440 1.5 6,660
DZG-SF-24-070 128.5 134.5 896 6.0 5,376
Including 131.0 132.0 3,820 1.0 3,820
DZG-SF-24-073 56.0 63.5 538 7.5 4,032
Including 60.0 62.0 1,690 2.0 3,380
DZG-SF-24-082 4.5 16.5 656 12.0 7,872
Including 9.0 15.0 928 6.0 5,568
Underground T28
TD28-24-2000-179 0.0 4.8 745 4.8 3,575
Underground YAK
YAKD-24-1950-010 32.4 45.6 308 13.2 4,061
YAKD-24-1950-026 27.6 46.8 369 19.2 7,078
Including 27.6 31.2 1,247 3.6 4,490
YAKD-24-2100-028 13.2 37.2 219 24.0 5,246
YAKD-24-2100-047 16.8 43.2 235 26.4 6,202
1 Holes were drilled at various angles; true widths are unknown 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.
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 “continue”, “confirm”, “potential” “,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 advancement of the commissioning work according to Aya’s plan.
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 (g/t) Length (m)* Ag x width
Underground DDH
ZG-SF-24-110 73.5 86.5 523 13.0 6,804
Including 84.5 85.5 4,638 1.0 4,638
ZG-SF-24-123 235.0 236.5 88 1.5 132
ZG-SF-24-123 274.0 276.5 5,696 2.5 14,240
ZG-SF-24-131 195.0 196.5 1,032 1.5 1,548
ZG-SF-24-131 214.0 215.0 140 1.0 140
ZG-SF-24-131 239.0 240.0 172 1.0 172
ZG-SF-24-133 59.0 63.5 796 4.5 3,582
Including 59.5 61.0 2,149 1.5 3,224
ZG-SF-24-135 100.5 102.0 208 1.5 312
ZG-SF-24-135 106.5 109.0 1,898 2.5 4,746
ZG-SF-24-137 48.0 54.2 311 6.2 1,930
ZG-SF-24-139 178.5 180.0 404 1.5 606
ZG-SF-24-139 184.5 187.5 98 3.0 294
ZG-SF-24-139 205.5 208.5 788 3.0 2,364
ZG-SF-24-141 27.0 28.5 76 1.5 114
ZG-SF-24-142 75.0 89.5 522 14.5 7,568
Including 79.0 83.5 1,356 4.5 6,102
ZG-SF-24-143 191.5 193.0 560 1.5 840
ZG-SF-24-146 71.0 72.5 192 1.5 288
ZG-SF-24-146 83.0 84.5 120 1.5 180
ZG-SF-24-146 92.5 93.0 256 0.5 128
ZG-SF-24-148 239.0 240.0 88 1.0 88
ZG-SF-24-148 281.5 286.0 123 4.5 552
ZG-SF-24-149 122.5 125.0 704 2.5 1,760
ZG-SF-24-149 129.5 131.0 88 1.5 132
DZG-SF-24-027 69.5 71.0 7,631 1.5 11,446
DZG-SF-24-029 33.0 37.5 291 4.5 1,308
DZG-SF-24-029 69.0 70.0 280 1.0 280
DZG-SF-24-030 7.5 9.5 122 2.0 244
DZG-SF-24-030 38.0 44.0 491 6.0 2,946
DZG-SF-24-031 48.0 49.0 96 1.0 96
DZG-SF-24-031 82.0 83.0 212 1.0 212
DZG-SF-24-031 88.5 90.0 80 1.5 120
DZG-SF-24-032 0.0 1.5 82 1.5 123
DZG-SF-24-032 7.5 12.0 200 4.5 902
DZG-SF-24-032 22.5 33.5 319 11.0 3,508
Including 30.5 32.0 897 1.5 1,346
DZG-SF-24-032 40.0 44.0 239 4.0 956
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-24-035 0.0 1.0 380 1.0 380
DZG-SF-24-035 15.5 25.5 391 10.0 3,908
Including 18.5 22.5 737 4.0 2,948
DZG-SF-24-035 27.0 28.5 96 1.5 144
DZG-SF-24-035 31.5 33.0 196 1.5 294
DZG-SF-24-035 37.5 49.5 263 12.0 3,155
Including 46.0 47.0 2,044 1.0 2,044
DZG-SF-24-035 72.0 73.5 236 1.5 354
DZG-SF-24-035 78.0 79.0 244 1.0 244
DZG-SF-24-037 0.0 2.5 218 2.5 546
DZG-SF-24-037 17.5 19.0 84 1.5 126
DZG-SF-24-037 20.0 24.5 355 4.5 1,598
Including 22.0 23.5 823 1.5 1,234
DZG-SF-24-037 44.0 49.0 560 5.0 2,800
Including 45.5 47.5 1,178 2.0 2,356
DZG-SF-24-037 55.0 56.5 132 1.5 198
DZG-SF-24-038 13.5 15.0 108 1.5 162
DZG-SF-24-038 40.0 41.0 108 1.0 108
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-24-039 64.5 67.5 90 3.0 270
DZG-SF-24-040 45.0 46.5 80 1.5 120
DZG-SF-24-040 68.5 70.5 218 2.0 436
DZG-SF-24-041 1.5 9.0 114 7.5 858
DZG-SF-24-041 13.5 15.0 176 1.5 264
DZG-SF-24-042 1.5 3.0 80 1.5 120
DZG-SF-24-042 4.0 9.5 145 5.5 798
DZG-SF-24-042 21.5 22.5 104 1.0 104
DZG-SF-24-042 34.5 38.5 767 4.0 3,068
DZG-SF-24-042 44.5 47.0 170 2.5 424
DZG-SF-24-042 48.5 50.0 100 1.5 150
DZG-SF-24-044 1.5 2.5 100 1.0 100
DZG-SF-24-044 6.5 7.5 220 1.0 220
DZG-SF-24-044 10.0 11.0 128 1.0 128
DZG-SF-24-044 32.0 38.5 393 6.5 2,552
Including 33.5 36.5 681 3.0 2,042
DZG-SF-24-044 58.0 64.0 142 6.0 852
DZG-SF-24-045 21.0 22.5 196 1.5 294
DZG-SF-24-045 41.0 42.0 184 1.0 184
DZG-SF-24-046 1.5 3.0 124 1.5 186
DZG-SF-24-046 35.5 40.0 100 4.5 450
DZG-SF-24-047 5.5 8.0 105 2.5 262
DZG-SF-24-047 37.5 38.5 80 1.0 80
DZG-SF-24-048 39.0 49.0 115 10.0 1,152
DZG-SF-24-049 13.0 14.0 829 1.0 829
DZG-SF-24-049 21.5 25.0 114 3.5 400
DZG-SF-24-051 6.0 7.5 332 1.5 498
DZG-SF-24-051 55.0 58.0 410 3.0 1,230
DZG-SF-24-052 16.5 19.5 494 3.0 1,482
DZG-SF-24-052 64.0 65.0 144 1.0 144
DZG-SF-24-053 6.5 7.0 668 0.5 334
DZG-SF-24-054 7.5 9.0 716 1.5 1,074
DZG-SF-24-054 43.5 48.0 91 4.5 408
DZG-SF-24-054 76.5 78.5 114 2.0 228
DZG-SF-24-055 34.0 35.5 108 1.5 162
DZG-SF-24-055 40.5 42.0 128 1.5 192
DZG-SF-24-055 44.5 45.0 180 0.5 90
DZG-SF-24-056 0.0 12.5 187 12.5 2,332
DZG-SF-24-056 15.5 29.5 625 14.0 8,756
Including 26.0 28.0 2,677 2.0 5,354
DZG-SF-24-056 32.5 33.5 88 1.0 88
DZG-SF-24-056 38.0 39.5 96 1.5 144
DZG-SF-24-056 55.0 56.0 1,156 1.0 1,156
DZG-SF-24-056 61.5 72.0 245 10.5 2,570
DZG-SF-24-057 21.0 22.5 76 1.5 114
DZG-SF-24-057 55.5 61.0 291 5.5 1,600
DZG-SF-24-057 65.0 69.0 1,252 4.0 5,008
DZG-SF-24-057 82.5 86.0 111 3.5 388
DZG-SF-24-057 92.5 102.0 232 9.5 2,203
DZG-SF-24-057 103.5 105.0 80 1.5 120
DZG-SF-24-058 8.0 11.5 437 3.5 1,530
DZG-SF-24-058 29.5 30.5 160 1.0 160