Aya Gold & Silver Announces High-Grade, At-Depth Drill Results at Zgounder
PRESS RELEASE
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Aya Gold & Silver Announces High-Grade, At-Depth Drill Results at Zgounder
Montreal, Quebec, November 29, 2023 - 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 program at the
Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o At depth near the granite, diamond drill hole (“DDH”) ZG-23-25 intercepted 1,075 grams per tonne
(“g/t”) silver (“Ag”) over 7.5 meters (“m”), and ZG-SF-23-037 intercepted 1,356 g/t Ag over 4.0m
o In the Central Zone from the 2,125m level:
o hole DZG-SF-23-249 intercepted 5,755 g/t Ag over 2.5m,
o hole DZG-SF-23-251 intercepted 988 g/t Ag over 9.5m, including 3,948 g/t Ag over 2.0m
o In the Central Zone from the 1,950m level:
o hole DZG-SF-23-214 intercepted 2,653 g/t Ag over 6.0m,
o hole DZG-SF-23-153 intercepted 3,386 g/t Ag over 4.0m, including 6,295 g/t Ag over 2.0m
o In the Central Zone from the 2,025m level:
o hole TD28-23-2030-922 intercepted 7,868 g/t Ag over 4.8m
“Today’s Zgounder results including holes ZG-23-25 and ZG-SF-23-037 confirm mineralization at depth
at the granite contact outside the current resource boundary,” said Benoit La Salle, President & CEO. “We
are excited that these initial results show significant down-plunge extensions of the Zgounder deposit
and demonstrate continuity of high grades and broad widths. Four underground rigs are now mobilized
with the aim of expanding mineral resources at depth.”
Included in this release are results for 248 holes, which include 78 underground DDH, 25 surface DDH, 94
T28 and 51 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)
Surface DDH
ZG-23-10 39.0 46.5 841 7.5 6,307
ZG-23-10 57.0 58.5 3800 1.5 5,700
ZG-23-25 326.5 334.0 1075 7.5 8,063
Underground DDH
ZG-SF-23-037 140.5 144.5 1356 4.0 5,425
DZG-SF-22-153 55.0 59.0 3386 4.0 13,542
Including 56.0 58.0 6295 2.0 12,589
DZG-SF-23-214 2.5 8.5 2653 6.0 15,920
DZG-SF-23-218 2.0 6.0 1708 4.0 6,832
Including 4.0 5.5 4056 1.5 6,084
DZG-SF-23-220 1.0 6.5 1015 5.5 5,585
DZG-SF-23-228 52.0 62.5 644 10.5 6,759
Including 55.0 59.5 1183 4.5 5,322
DZG-SF-23-233 90.5 102.0 950 11.5 10,925
Including 90.5 95.0 2102 4.5 9,459
DZG-SF-23-235 78.5 83.4 1389 4.9 6,806
Including 81.5 82.5 5548 1.0 5,548
DZG-SF-23-249 46.0 48.5 5755 2.5 14,389
DZG-SF-23-251 21.0 30.5 988 9.5 9,382
Including 23.5 25.5 3948 2.0 7,895
Underground T28
TD28-23-1968-878 19.2 25.2 2231 6.0 13,387
TD28-23-2030-922 19.2 24.0 7868 4.8 37,765
TD28-23-2100-854 0.0 3.6 4196 3.6 15,106
Underground YAK
YAKD-23-2030-274 9.6 15.6 2177 6.0 13,062
YAKD-23-2030-276 38.4 42.0 1390 3.6 5,003
YAKD-23-2030-279 31.2 38.4 1555 7.2 11,194
YAKD-23-2030-286 12.0 14.4 2143 2.4 5,143
YAKD-23-2030-286 39.6 51.6 815 12.0 9,783
Including 42.0 46.8 1855 4.8 8,904
YAKD-23-2100-258 3.6 7.2 1647 3.6 5,930
YAKD-23-2100-269 32.4 46.8 482 14.4 6,946
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 met er 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 s ilver, 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 “confirm”, “show”, “demonstrate”, “significant”, “demonstrate”,
“expanding”, “continuity”, “potential”, “continue”, “expand”, “seems”, 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, the conversion of
Inferred Mineral Resources into Measured and Indicated Mineral Resources and future opportunities for
enhancing development at Zgounder. 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, the presence of artisanal miners,
obtaining regulatory permits for on site work, importing goods and machinery and employment permits,
the accuracy of Min eral 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 2022 Annual Information Form dated March 31, 2023, 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 solic itation 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)
Surface DDH
ZG-23-07 286.5 287.0 294 0.5 147
ZG-23-09 60.0 63.0 266 3.0 797
ZG-23-10 6.5 8.0 202 1.5 303
ZG-23-10 20.0 21.5 158 1.5 237
ZG-23-10 39.0 46.5 841 7.5 6,307
ZG-23-10 57.0 58.5 3800 1.5 5,700
ZG-23-16 47.5 49.0 292 1.5 438
ZG-23-18 13.5 16.5 213 3.0 640
ZG-23-18 24.0 25.5 320 1.5 480
ZG-23-19 25.5 27.0 644 1.5 966
ZG-23-19 54.5 55.0 132 0.5 66
ZG-23-25 322.0 323.0 154 1.0 154
ZG-23-25 326.5 334.0 1075 7.5 8,063
ZG-23-26 260.0 261.5 548 1.5 822
ZG-23-26 280.0 280.5 114 0.5 57
ZG-23-28 357.0 358.0 102 1.0 102
ZG-23-31 43.5 45.0 622 1.5 933
ZG-23-31 49.5 54.0 374 4.5 1,684
ZG-23-31 141.5 143.0 232 1.5 349
ZG-23-31 228.5 234.5 346 6.0 2,078
Underground DDH
ZG-SF-23-011 112.5 114.0 150 1.5 225
ZG-SF-23-012 47.0 48.5 130 1.5 195
ZG-SF-23-033 214.5 216.0 141 1.5 212
ZG-SF-23-033 219.0 222.0 342 3.0 1,025
ZG-SF-23-035 20.0 20.5 94 0.5 47
ZG-SF-23-035 21.0 21.5 1163 0.5 581
ZG-SF-23-037 113.0 115.0 653 2.0 1,306
ZG-SF-23-037 125.5 128.5 520 3.0 1,559
ZG-SF-23-037 136.5 138.0 693 1.5 1,040
ZG-SF-23-037 140.5 144.5 1356 4.0 5,425
Including 142.5 144.0 2897 1.5 4,345
DZG-SF-22-153 13.5 15.0 99 1.5 149
DZG-SF-22-153 16.0 19.0 173 3.0 519
DZG-SF-22-153 55.0 59.0 3386 4.0 13,542
Including 56.0 58.0 6295 2.0 12,589
DZG-SF-22-153 63.0 68.0 239 5.0 1,193
DZG-SF-23-189 11.5 15.5 259 4.0 1,036
DZG-SF-23-198 23.0 23.5 116 0.5 58
DZG-SF-23-198 24.5 36.5 375 12.0 4,502
DZG-SF-23-198 52.0 52.5 400 0.5 200
DZG-SF-23-198 61.0 61.5 108 0.5 54
DZG-SF-23-199 49.5 51.0 83 1.5 124
DZG-SF-23-209 48.0 56.0 263 8.0 2,106
DZG-SF-23-209 69.5 70.9 794 1.4 1,112
DZG-SF-23-211 1.0 4.0 800 3.0 2,401
DZG-SF-23-211 29.5 30.5 397 1.0 397
DZG-SF-23-212 43.5 45.0 100 1.5 150
DZG-SF-23-212 57.0 58.5 1352 1.5 2,028
DZG-SF-23-213 4.0 4.5 276 0.5 138
DZG-SF-23-214 0.0 1.5 85 1.5 128
DZG-SF-23-214 2.5 8.5 2653 6.0 15,920
DZG-SF-23-214 15.5 17.0 112 1.5 168
DZG-SF-23-214 32.0 34.0 193 2.0 386
DZG-SF-23-214 50.5 52.5 452 2.0 904
DZG-SF-23-214 55.5 57.5 1695 2.0 3,391
DZG-SF-23-216 2.5 8.0 598 5.5 3,291
Including 4.5 6.0 1583 1.5 2,375
DZG-SF-23-216 10.0 10.5 96 0.5 48
DZG-SF-23-216 35.5 37.0 121 1.5 181
DZG-SF-23-216 54.0 56.0 1530 2.0 3,059
DZG-SF-23-216 56.5 57.0 76 0.5 38
DZG-SF-23-217 2.5 3.5 909 1.0 909
DZG-SF-23-218 2.0 6.0 1708 4.0 6,832
Including 4.0 5.5 4056 1.5 6,084
DZG-SF-23-218 7.5 8.0 202 0.5 101
DZG-SF-23-218 33.5 35.0 278 1.5 417
DZG-SF-23-218 51.5 53.5 257 2.0 513
DZG-SF-23-218 60.5 62.0 86 1.5 129
DZG-SF-23-220 1.0 6.5 1015 5.5 5,585
Including 4.5 6.0 2180 1.5 3,270
DZG-SF-23-220 42.5 44.0 1670 1.5 2,505
DZG-SF-23-220 50.0 51.5 829 1.5 1,243
DZG-SF-23-222 2.0 3.5 424 1.5 636
DZG-SF-23-223 3.0 4.5 474 1.5 711
DZG-SF-23-223 34.0 35.5 114 1.5 171
DZG-SF-23-223 40.0 40.5 100 0.5 50
DZG-SF-23-223 46.0 46.5 80 0.5 40
DZG-SF-23-224 2.0 2.5 93 0.5 47
DZG-SF-23-224 35.0 35.5 162 0.5 81
DZG-SF-23-224 37.0 37.5 122 0.5 61
DZG-SF-23-224 39.0 40.0 121 1.0 121
DZG-SF-23-224 45.0 46.5 513 1.5 770
DZG-SF-23-226 23.0 25.0 119 2.0 238
DZG-SF-23-227 0.0 1.5 409 1.5 614
DZG-SF-23-227 8.0 8.5 75 0.5 38
DZG-SF-23-228 52.0 62.5 644 10.5 6,759
Including 55.0 59.5 1183 4.5 5,322
DZG-SF-23-228 65.5 67.0 91 1.5 136
DZG-SF-23-228 114.0 117.0 912 3.0 2,736
DZG-SF-23-229 11.0 13.0 476 2.0 952
DZG-SF-23-229 20.0 20.5 87 0.5 44
DZG-SF-23-229 24.5 25.0 101 0.5 50
DZG-SF-23-229 48.0 49.0 90 1.0 90
DZG-SF-23-229 62.5 64.1 146 1.6 234
DZG-SF-23-230 49.0 53.5 418 4.5 1,881
DZG-SF-23-230 58.0 59.5 88 1.5 132
DZG-SF-23-230 72.0 74.0 229 2.0 458
DZG-SF-23-230 78.0 81.0 92 3.0 276
DZG-SF-23-231 55.5 59.0 475 3.5 1,664
DZG-SF-23-231 64.0 64.5 82 0.5 41
DZG-SF-23-231 65.5 67.0 789 1.5 1,184
DZG-SF-23-231 72.5 73.5 87 1.0 87
DZG-SF-23-231 84.5 86.0 275 1.5 413
DZG-SF-23-232 57.5 58.5 267 1.0 267
DZG-SF-23-233 90.5 102.0 950 11.5 10,925
Including 90.5 95.0 2102 4.5 9,459
DZG-SF-23-234 64.5 65.0 1292 0.5 646
DZG-SF-23-234 69.0 70.0 497 1.0 497
DZG-SF-23-234 79.5 80.0 134 0.5 67
DZG-SF-23-235 78.5 83.4 1389 4.9 6,806
Including 81.5 82.5 5548 1.0 5,548
DZG-SF-23-236 11.0 12.0 194 1.0 194
DZG-SF-23-237 56.5 57.5 82 1.0 82
DZG-SF-23-238 49.5 51.0 1040 1.5 1,560
DZG-SF-23-241 97.5 102.0 890 4.5 4,005
DZG-SF-23-249 18.0 21.0 109 3.0 327
DZG-SF-23-249 46.0 48.5 5755 2.5 14,389
DZG-SF-23-249 63.5 65.0 146 1.5 219
DZG-SF-23-251 12.5 13.5 258 1.0 258
DZG-SF-23-251 12.5 14.5 357 2.0 714
DZG-SF-23-251 21.0 30.5 988 9.5 9,382
Including 23.5 25.5 3948 2.0 7,895
DZG-SF-23-251 35.0 40.0 347 5.0 1,733
DZG-SF-23-251 55.0 58.0 332 3.0 996
DZG-SF-23-251 73.5 74.0 102 0.5 51
DZG-SF-23-253 46.0 47.0 186 1.0 186
DZG-SF-23-255 79.5 87.5 267 8.0 2,132
DZG-SF-23-255 92.0 92.5 134 0.5 67
DZG-SF-23-256 63.0 63.5 89 0.5 45
DZG-SF-23-256 82.0 82.5 1808 0.5 904
DZG-SF-23-257 91.5 92.5 82 1.0 82
DZG-SF-23-259 29.0 33.0 208 4.0 832
DZG-SF-23-261 13.0 14.0 90 1.0 90
DZG-SF-23-261 30.5 32.0 748 1.5 1,122
DZG-SF-23-261 59.0 62.2 418 3.2 1,338
DZG-SF-23-262 42.0 42.5 110 0.5 55
DZG-SF-23-264 8.0 8.5 330 0.5 165
DZG-SF-23-264 56.0 60.5 105 4.5 471
DZG-SF-23-266 9.0 10.0 788 1.0 788
DZG-SF-23-266 47.0 52.0 220 5.0 1,100
DZG-SF-23-266 56.5 57.5 160 1.0 160
Underground T28
TD28-23-1950-743 4.8 6.0 492 1.2 590
TD28-23-1950-830 3.6 12.0 551 8.4 4,625
Including 3.6 6.0 1600 2.4 3,840
TD28-23-1950-831 2.4 4.8 163 2.4 390
TD28-23-1950-831 12.0 13.2 222 1.2 266
TD28-23-1950-930 4.8 6.0 182 1.2 218
TD28-23-1950-932 14.4 15.6 370 1.2 444
TD28-23-1950-934 3.6 4.8 83 1.2 100
TD28-23-1950-937 4.8 13.2 118 8.4 991