Aya Gold & Silver Announces High-Grade, At-Depth Drill Results at Zgounder
PRESS RELEASE
.
Aya Gold & Silver Announces High-Grade, At-Depth Drill Results at Zgounder
Montreal, Quebec, January 31, 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 program at the
Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o From surface , diamond drill hole (“DDH”) ZG-23-54 intercepted 1,846 grams per tonne (“g/t”)
silver (“ Ag”) over 7.0 meters (“ m”), including 5.0m at 2,095 g/t Ag; and ZG-23-35 intercepted
683 g/t Ag over 15.0m, including 6.0m at 1,221 g/t Ag
o In the Central Zone from the 1,950m level:
o hole ZG-SF-23-055 intercepted 672 g/t Ag over 7.5m near the granite contact
o hole DZG-SF-23-292 intercepted 2,430 g/t Ag over 4.5m, including 4,174 g/t Ag over 2.5m
o hole ZG-SF-23-038 intercepted 675 g/t Ag over 14.0m, including 951 g/t Ag over 7.0m
o hole TD28-23-1950-752 intercepted 858 g/t Ag over 12.0m, including 1,905 g/t Ag over
4.8m
o In the Central Zone from the 1,925m level:
o hole ZG-SF-23-056 intercepted 391 g/t Ag over 11.5m near the granite contact
o In the Central Zone from the 2,100m level:
o hole YAKD-23-2100-202 intercepted 1,005 g/t Ag over 30.0m, including 2,354 g/t Ag over
12.0m
“Today’s results including holes ZG-23-54 and DZG-SF-23-292 further validate the very high-grade nature
of Zgounder , while holes ZG -SF-23-055 and ZG -SF-23-056 confirm mineralization near the granite
contact,” said Benoit La Salle, President & CEO. “Importantly, these initial results outline significant down-
plunge extensions of the deposit and continue to return thick, high-grade intercepts. Four underground
rigs are now mobilized with the objective of expanding mineral resources at depth.”
Included in this release are results for 249 holes, which include 114 underground DDH, 35 surface DDH,
61 T28 and 39 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-23-35 85.0 100.0 683 15.0 10,247
Including 87.0 93.0 1,221 6.0 7,326
ZG-23-42 82.5 84.0 1,970 1.5 2,955
ZG-23-54 56.0 63.0 1,846 7.0 12,923
Including 56.0 61.0 2,095 5.0 10,476
ZG-23-58 10.0 14.0 1,828 4.0 7,313
Underground DDH
ZG-SF-23-023 37.0 38.0 1,754 1.0 1,754
ZG-SF-23-029 87.0 93.5 417 6.5 2,712
ZG-SF-23-031 39.0 40.0 1,656 1.0 1,656
ZG-SF-23-038 42.0 56.0 675 14.0 9,456
Including 46.5 53.5 951 7.0 6,658
ZG-SF-23-055 153.0 160.5 672 7.5 5,037
Including 154.0 157.0 1,375 3.0 4,124
ZG-SF-23-056 277.5 289.0 391 11.5 4,491
DZG-SF-23-258 14.5 16.0 1,091 1.5 1,636
DZG-SF-23-275 55.5 57.0 2,087 1.5 3,131
DZG-SF-23-292 46.5 51.0 2,430 4.5 10,933
Including 47.5 50.0 4,174 2.5 10,434
DZG-SF-23-295 40.0 59.5 362 19.5 7,066
Including 50.0 52.5 1,609 2.5 4,023
DZG-SF-23-311 68.5 77.5 180 9.0 1,621
Underground T28
TD28-23-1950-752 9.6 21.6 858 12.0 10,297
Including 9.6 14.4 1,905 4.8 9,144
TD28-23-1950-979 12.0 19.2 795 7.2 5,726
Including 12.0 14.4 1,562 2.4 3,749
TD28-23-1950-980 12.0 14.4 874 2.4 2,098
TD28-23-1950-985 14.4 21.6 327 7.2 2,357
TD28-23-1950-991 12.0 19.2 249 7.2 1,794
TD28-23-1975-636 10.8 20.4 684 9.6 6,568
TD28-23-2000-966 12.0 14.4 928 2.4 2,226
TD28-23-2000-967 12.0 19.2 592 7.2 4,264
Including 13.2 16.8 960 3.6 3,456
TD28-23-2000-970 12.0 14.4 788 2.4 1,891
TD28-23-2000-972 8.4 12.0 919 3.6 3,307
Underground YAK
YAKD-23-1995-315 24.0 33.6 203 9.6 1,944
YAKD-23-1995-316 27.6 48.0 425 20.4 8,663
Including 27.6 34.8 912 7.2 6,569
YAKD-23-2075-303 4.8 7.2 1,044 2.4 2,506
YAKD-23-2075-304 1.2 7.2 555 6.0 3,329
YAKD-23-2100-202 6.0 36.0 1,005 30.0 30,151
Including 10.8 22.8 2,354 12.0 28,248
YAKD-24-2125-002 4.8 8.4 439 3.6 1,580
YAKD-24-2125-002 30.0 36.0 292 6.0 1,750
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 “validate”, “confirm”, “significant”, “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 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 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)
Surface DDH
ZG-23-26 280.5 281.0 80 0.5 40
ZG-23-26 379.0 380.5 90 1.5 135
ZG-23-34 48.0 49.5 404 1.5 606
ZG-23-34 66.0 68.0 237 2.0 473
ZG-23-35 76.0 77.5 218 1.5 327
ZG-23-35 85.0 100.0 683 15.0 10,247
Including 87.0 93.0 1,221 6.0 7,326
ZG-23-36 233.0 233.5 216 0.5 108
ZG-23-36 238.0 245.0 165 7.0 1,155
ZG-23-36 498.5 500.0 348 1.5 522
ZG-23-38 6.0 7.5 194 1.5 291
ZG-23-39 55.0 56.5 412 1.5 618
ZG-23-42 48.0 51.0 334 3.0 1,002
ZG-23-42 82.5 84.0 1,970 1.5 2,955
ZG-23-42 100.5 103.5 150 3.0 450
ZG-23-43 3.0 4.5 84 1.5 126
ZG-23-44 40.5 42.0 213 1.5 320
ZG-23-44 75.0 78.0 162 3.0 486
ZG-23-44 94.5 97.5 121 3.0 363
ZG-23-46 4.5 6.0 80 1.5 120
ZG-23-49 102.0 103.5 588 1.5 882
ZG-23-49 109.5 111.0 106 1.5 159
ZG-23-51 15.0 16.5 94 1.5 141
ZG-23-51 18.0 19.5 76 1.5 114
ZG-23-51 82.5 83.5 279 1.0 279
ZG-23-54 56.0 63.0 1,846 7.0 12,923
Including 56.0 61.0 2,095 5.0 10,476
ZG-23-55 0.0 3.0 127 3.0 381
ZG-23-55 45.0 46.5 179 1.5 269
ZG-23-55 51.5 53.5 189 2.0 378
ZG-23-55 101.5 102.0 1,422 0.5 711
ZG-23-55 157.0 158.0 95 1.0 95
ZG-23-58 10.0 14.0 1,828 4.0 7,313
ZG-23-58 18.5 21.5 268 3.0 804
ZG-23-59 35.0 36.5 79 1.5 119
Underground DDH
ZG-SF-23-023 37.0 38.0 1,754 1.0 1,754
ZG-SF-23-027 65.5 69.0 103 3.5 362
ZG-SF-23-027 77.5 83.5 121 6.0 723
ZG-SF-23-029 87.0 93.5 417 6.5 2,712
ZG-SF-23-031 39.0 40.0 1,656 1.0 1,656
ZG-SF-23-038 42.0 56.0 675 14.0 9,456
Including 46.5 53.5 951 7.0 6,658
ZG-SF-23-047 43.5 45.0 264 1.5 396
ZG-SF-23-051 39.0 40.0 83 1.0 83
ZG-SF-23-051 41.0 42.0 816 1.0 816
ZG-SF-23-052 75.0 78.0 362 3.0 1,086
ZG-SF-23-053 168.0 169.5 780 1.5 1,170
ZG-SF-23-054 110.0 111.5 202 1.5 303
ZG-SF-23-054 146.0 149.0 258 3.0 775
ZG-SF-23-055 153.0 160.5 672 7.5 5,037
Including 154.0 157.0 1,375 3.0 4,124
ZG-SF-23-056 236.0 237.5 332 1.5 498
ZG-SF-23-056 264.0 268.5 97 4.5 435
ZG-SF-23-056 277.5 289.0 391 11.5 4,491
ZG-SF-23-056 291.5 292.5 124 1.0 124
ZG-SF-23-056 298.5 302.5 106 4.0 424
ZG-SF-23-056 305.0 306.5 118 1.5 177
ZG-SF-23-056 331.5 334.5 191 3.0 572
ZG-SF-23-068 158.0 160.0 150 2.0 300
ZG-SF-23-069 55.5 57.0 76 1.5 114
DZG-SF-23-250 33.0 34.0 94 1.0 94
DZG-SF-23-250 83.0 84.0 122 1.0 122
DZG-SF-23-250 131.0 131.5 368 0.5 184
DZG-SF-23-252 22.5 24.0 149 1.5 224
DZG-SF-23-252 66.5 67.5 85 1.0 85
DZG-SF-23-252 85.5 87.0 844 1.5 1,266
DZG-SF-23-254 87.0 88.5 201 1.5 302
DZG-SF-23-254 113.5 116.5 216 3.0 648
DZG-SF-23-254 134.5 139.0 278 4.5 1,250
DZG-SF-23-256 106.5 108.0 76 1.5 114
DZG-SF-23-258 14.5 16.0 1,091 1.5 1,636
DZG-SF-23-258 20.5 22.0 78 1.5 117
DZG-SF-23-258 47.0 48.0 97 1.0 97
DZG-SF-23-260 49.5 50.5 86 1.0 86
DZG-SF-23-260 73.0 74.5 135 1.5 202
DZG-SF-23-260 134.5 136.0 335 1.5 502
DZG-SF-23-260 140.5 141.0 215 0.5 107
DZG-SF-23-268 22.0 25.0 269 3.0 807
DZG-SF-23-270 20.5 21.5 203 1.0 203
DZG-SF-23-270 49.5 52.5 416 3.0 1,248
DZG-SF-23-272 10.0 10.5 276 0.5 138
DZG-SF-23-275 55.5 57.0 2,087 1.5 3,131
DZG-SF-23-277 55.0 57.0 423 2.0 846
DZG-SF-23-277 79.5 81.0 90 1.5 135
DZG-SF-23-279 98.5 100.0 85 1.5 128
DZG-SF-23-280 5.5 7.0 209 1.5 314
DZG-SF-23-282 0.0 1.5 94 1.5 141
DZG-SF-23-282 10.5 12.0 94 1.5 141
DZG-SF-23-283 10.0 11.0 1,492 1.0 1,492
DZG-SF-23-292 46.5 51.0 2,430 4.5 10,933
Including 47.5 50.0 4,174 2.5 10,434
DZG-SF-23-292 56.0 59.5 230 3.5 805
DZG-SF-23-292 100.0 101.5 92 1.5 138
DZG-SF-23-294 61.5 63.0 338 1.5 507
DZG-SF-23-294 67.0 68.0 151 1.0 151
DZG-SF-23-295 40.0 59.5 362 19.5 7,066
Including 50.0 52.5 1,609 2.5 4,023
DZG-SF-23-295 62.5 66.5 223 4.0 892
DZG-SF-23-296 22.5 24.0 206 1.5 309
DZG-SF-23-297 42.0 44.0 329 2.0 658
DZG-SF-23-297 47.0 53.5 173 6.5 1,125
DZG-SF-23-299 39.0 40.5 162 1.5 243
DZG-SF-23-299 49.5 50.5 78 1.0 78
DZG-SF-23-299 54.5 56.0 138 1.5 207
DZG-SF-23-299 59.5 60.5 81 1.0 81
DZG-SF-23-301 42.5 45.5 146 3.0 437
DZG-SF-23-301 53.0 53.5 290 0.5 145
DZG-SF-23-304 34.5 37.5 113 3.0 338
DZG-SF-23-304 46.0 47.0 93 1.0 93
DZG-SF-23-304 64.0 65.0 119 1.0 119
DZG-SF-23-305 75.0 76.5 92 1.5 138
DZG-SF-23-308 34.5 35.5 322 1.0 322
DZG-SF-23-308 43.5 47.5 208 4.0 833
DZG-SF-23-308 61.5 62.5 146 1.0 146
DZG-SF-23-310 48.0 49.5 232 1.5 348
DZG-SF-23-311 51.5 53.0 106 1.5 159
DZG-SF-23-311 61.0 62.0 89 1.0 89
DZG-SF-23-311 68.5 77.5 180 9.0 1,621
DZG-SF-23-312 40.0 43.5 106 3.5 369
DZG-SF-23-313 42.5 51.0 130 8.5 1,102
DZG-SF-23-313 58.5 60.0 84 1.5 126
DZG-SF-23-314 57.0 60.0 82 3.0 246
DZG-SF-23-314 69.0 69.5 342 0.5 171
DZG-SF-23-320 64.5 67.5 173 3.0 519
Underground T28
TD28-23-1950-747 18.0 20.4 128 2.4 307
TD28-23-1950-749 16.8 18.0 101 1.2 121
TD28-23-1950-752 6.0 7.2 104 1.2 124
TD28-23-1950-752 9.6 21.6 858 12.0 10,297
Including 9.6 14.4 1,905 4.8 9,144
TD28-23-1950-978 12.0 13.2 133 1.2 160
TD28-23-1950-979 12.0 19.2 795 7.2 5,726
Including 12.0 14.4 1,562 2.4 3,749
TD28-23-1950-980 12.0 14.4 874 2.4 2,098
TD28-23-1950-982 3.6 4.8 133 1.2 160
TD28-23-1950-985 14.4 21.6 327 7.2 2,357
TD28-23-1950-987 0.0 2.4 96 2.4 230
TD28-23-1950-988 21.6 22.8 191 1.2 229
TD28-23-1950-991 12.0 19.2 249 7.2 1,794
TD28-23-1950-996 13.2 22.8 133 9.6 1,277
TD28-23-1968-874 13.2 14.4 129 1.2 154
TD28-23-1968-975 15.6 16.8 118 1.2 142
TD28-23-1968-976 14.4 15.6 502 1.2 602
TD28-23-1975-634 9.6 10.8 335 1.2 402
TD28-23-1975-635 9.6 10.8 152 1.2 182
TD28-23-1975-636 10.8 20.4 684 9.6 6,568
TD28-23-1975-637 10.8 12.0 162 1.2 194
TD28-23-1975-637 10.8 13.2 323 2.4 775
TD28-23-1975-637 10.8 14.4 241 3.6 866
TD28-23-1975-637 20.4 21.6 94 1.2 113
TD28-23-1975-638 7.2 8.4 141 1.2 169
TD28-23-1975-638 14.4 16.8 115 2.4 276
TD28-23-1975-734 15.6 19.2 78 3.6 279
TD28-23-2000-626 0.0 1.2 82 1.2 98
TD28-23-2000-626 4.8 6.0 808 1.2 970
TD28-23-2000-627 19.2 20.4 162 1.2 194
TD28-23-2000-628 16.8 20.4 163 3.6 585
TD28-23-2000-965 4.8 6.0 113 1.2 136
TD28-23-2000-966 12.0 14.4 928 2.4 2,226