Aya Gold & Silver Announces High-Grade Silver Drill Results and Adds New Exploration Permits at Zgounder
PRESS RELEASE
.
Aya Gold & Silver Announces High-Grade Silver Drill Results and Adds New
Exploration Permits at Zgounder
Montreal, Quebec, October 12, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce high-grade silver drill results and the acquisition of new adjacent
exploration permits at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o In the open-pit area to the east, reverse circulation (“RC”) drill hole ZG-RC-C3-23-25 intercepted
480 grams per tonne (“ g/t”) silver (“Ag”) over 17 meters (“m”), including 1,156 g/t Ag over 5.0m
and ZG-RC-C3-23-36 intercepted 1,043 g/t Ag over 5.0m
o In the Central Zone from the 1,975m level:
o hole TD28-23-1975-767 intercepted 1,706 g/t Ag over 7.2m, including 4,688 g/t Ag over
2.4m
o hole TD28-23-1975-770 intercepted 3,065 g/t Ag over 4.8m
o In the Central Zone from the 1,950m level:
o hole TD28-23-1950-669 intercepted 933 g/t Ag over 9.6m, including
▪ 1,576 g/t Ag over 4.8m
o hole TD28-23-1950-665 intercepted 1,653 g/t Ag over 4.8m, including
▪ 3,166 g/t Ag over 2.4m
o Acquisition of 62.6 square kilometers (“ km²”) of exploration permits less than 25km east of
Zgounder as part of a reallocation of exploration permits by the Moroccan Directorate of Mines
(Figure 2).
“Acquisition of this new prospective exploration ground boosts the total Zgounder land package to over
425km², increasing the potential for satellite deposits,” said Benoit La Salle, President & CEO. “We are
also very encouraged by the ongoing high-grade results from both the open-pit and underground drilling,
reconfirming the continuity of high-grade mineralization at Zgounder.”
Included in this release are results for 209 holes, which include 4 underground DDH, 52 RC drill hole from
pit definition drilling, 122 T28 and 31 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 RC
ZG-RC-C3-23-21 1.0 8.0 478 7.0 3,348
Including 1.0 3.0 1,304 2.0 2,608
ZG-RC-C3-23-25 13.0 30.0 480 17.0 8,160
Including 25.0 30.0 1,156 5.0 5,781
ZG-RC-C3-23-29 28.0 33.0 720 5.0 3,600
ZG-RC-C3-23-33 0.0 10.0 379 10.0 3,793
ZG-RC-C3-23-36 28.0 33.0 1,043 5.0 5,216
ZG-RC-C3-23-44 0.0 11.0 270 11.0 2,967
ZG-RC-C3-23-51 7.0 17.0 206 10.0 2,061
Underground T28
TD28-23-1950-665 9.6 14.4 1,653 4.8 7,933
Including 9.6 12.0 3,166 2.4 7,597
TD28-23-1950-668 4.8 14.4 598 9.6 5,736
Including 4.8 10.8 837 6.0 5,023
TD28-23-1950-669 6.0 15.6 933 9.6 8,954
Including 9.6 14.4 1,576 4.8 7,565
TD28-23-1950-677 3.6 9.6 342 6.0 2,050
TD28-23-1950-677 16.8 26.4 623 9.6 5,978
Including 22.8 26.4 1,335 3.6 4,806
TD28-23-1950-679 9.6 13.2 940 3.6 3,383
TD28-23-1950-679 16.8 26.4 259 9.6 2,489
TD28-23-1950-683 3.6 10.8 294 7.2 2,114
TD28-23-1950-683 18.0 26.4 422 8.4 3,542
TD28-23-1950-698 8.4 14.4 528 6.0 3,168
Including 8.4 10.8 1,077 2.4 2,585
TD28-23-1975-767 12.0 19.2 1,706 7.2 12,286
Including 13.2 15.6 4,688 2.4 11,251
TD28-23-1975-767 22.8 26.4 1,474 3.6 5,305
TD28-23-1975-770 21.6 26.4 3,065 4.8 14,711
TD28-23-2000-797 12.0 16.8 639 4.8 3,066
Including 14.4 16.8 1,151 2.4 2,762
TD28-23-2000-803 4.8 7.2 910 2.4 2,184
TD28-23-2000-806 16.8 22.8 744 6.0 4,461
Including 16.8 20.4 1,163 3.6 4,185
TD28-23-2030-788 3.6 18.0 272 14.4 3,912
TD28-23-2030-793 10.8 14.4 1,162 3.6 4,185
TD28-23-2100-844 12.0 19.2 785 7.2 5,649
Including 12.0 14.4 2,040 2.4 4,897
Underground YAK
YAKD-23-1975-216 21.6 25.2 1,277 3.6 4,598
YAKD-23-1975-219 42.0 45.6 1,581 3.6 5,691
YAKD-23-2000-226 22.8 28.8 524 6.0 3,145
YAKD-23-2000-230 8.4 16.8 443 8.4 3,725
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
Figure 2: Location of New Zgounder Permits
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 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, a ll individual sample s 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 appl icable 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”, “increase”, “ potential”, “encouraged”, “continuity”,
“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 the exploration and development potential of
Zgounder, 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 manag ement 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 g overnmental
approvals, the presence of artisanal miners, 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 avail able on SEDAR at www.sedar.com. Aya does not
undertake any obligation to update forwa rd-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 t o 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
DZG-SF-23-201 25.0 26.0 842 1.0 842
DZG-SF-23-201 30.5 32.0 81 1.5 122
DZG-SF-23-201 75.0 76.5 76 1.5 114
DZG-SF-23-204 28.0 29.0 1,026 1.0 1,026
DZG-SF-23-205 33.0 36.5 141 3.5 492
DZG-SF-23-205 41.0 42.0 167 1.0 167
DZG-SF-23-205 46.0 47.0 203 1.0 203
DZG-SF-23-206 37.5 38.5 608 1.0 608
DZG-SF-23-206 42.0 43.5 79 1.5 118
Surface RC
ZG-RC-C3-23-03 0.0 1.0 103 1.0 103
ZG-RC-C3-23-03 5.0 6.0 184 1.0 184
ZG-RC-C3-23-05 0.0 1.0 114 1.0 114
ZG-RC-C3-23-05 3.0 6.0 129 3.0 388
ZG-RC-C3-23-05 12.0 14.0 107 2.0 214
ZG-RC-C3-23-05 15.0 16.0 108 1.0 108
ZG-RC-C3-23-06 0.0 1.0 108 1.0 108
ZG-RC-C3-23-06 13.0 14.0 104 1.0 104
ZG-RC-C3-23-06 25.0 28.0 314 3.0 942
ZG-RC-C3-23-06 40.0 41.0 282 1.0 282
ZG-RC-C3-23-07 6.0 9.0 115 3.0 344
ZG-RC-C3-23-08 1.0 7.0 134 6.0 802
ZG-RC-C3-23-09 6.0 7.0 88 1.0 88
ZG-RC-C3-23-10 7.0 8.0 91 1.0 91
ZG-RC-C3-23-10 12.0 14.0 209 2.0 418
ZG-RC-C3-23-11 0.0 1.0 288 1.0 288
ZG-RC-C3-23-11 5.0 6.0 82 1.0 82
ZG-RC-C3-23-12 6.0 7.0 79 1.0 79
ZG-RC-C3-23-12 16.0 17.0 150 1.0 150
ZG-RC-C3-23-14 6.0 9.0 123 3.0 368
ZG-RC-C3-23-14 44.0 45.0 517 1.0 517
ZG-RC-C3-23-17 7.0 11.0 106 4.0 423
ZG-RC-C3-23-19 0.0 1.0 96 1.0 96
ZG-RC-C3-23-20 0.0 1.0 130 1.0 130
ZG-RC-C3-23-20 4.0 9.0 141 5.0 705
ZG-RC-C3-23-21 1.0 8.0 478 7.0 3,348
Including 1.0 3.0 1,304 2.0 2,608
ZG-RC-C3-23-21 26.0 31.0 283 5.0 1,413
ZG-RC-C3-23-21 33.0 34.0 112 1.0 112
ZG-RC-C3-23-21 37.0 38.0 119 1.0 119
ZG-RC-C3-23-22 3.0 12.0 149 9.0 1,341
ZG-RC-C3-23-22 26.0 28.0 121 2.0 242
ZG-RC-C3-23-25 7.0 8.0 91 1.0 91
ZG-RC-C3-23-25 13.0 30.0 480 17.0 8,160
Including 25.0 30.0 1,156 5.0 5,781
ZG-RC-C3-23-27 0.0 12.0 111 12.0 1,335
ZG-RC-C3-23-27 19.0 20.0 92 1.0 92
ZG-RC-C3-23-28 0.0 1.0 176 1.0 176
ZG-RC-C3-23-28 4.0 6.0 126 2.0 252
ZG-RC-C3-23-29 0.0 1.0 110 1.0 110
ZG-RC-C3-23-29 4.0 11.0 186 7.0 1,302
ZG-RC-C3-23-29 15.0 18.0 537 3.0 1,612
ZG-RC-C3-23-29 19.0 20.0 88 1.0 88
ZG-RC-C3-23-29 28.0 33.0 720 5.0 3,600
ZG-RC-C3-23-33 0.0 10.0 379 10.0 3,793
ZG-RC-C3-23-35 8.0 9.0 99 1.0 99
ZG-RC-C3-23-35 12.0 14.0 155 2.0 310
ZG-RC-C3-23-36 28.0 33.0 1,043 5.0 5,216
ZG-RC-C3-23-40 13.0 14.0 121 1.0 121
ZG-RC-C3-23-44 0.0 11.0 270 11.0 2,967
Including 0.0 2.0 866 2.0 1,732
ZG-RC-C3-23-47 0.0 1.0 82 1.0 82
ZG-RC-C3-23-47 17.0 19.0 249 2.0 498
ZG-RC-C3-23-48 0.0 2.0 180 2.0 359
ZG-RC-C3-23-48 7.0 11.0 129 4.0 515
ZG-RC-C3-23-49 0.0 1.0 220 1.0 220
ZG-RC-C3-23-49 2.0 3.0 118 1.0 118
ZG-RC-C3-23-50 2.0 3.0 86 1.0 86
ZG-RC-C3-23-50 8.0 11.0 163 3.0 490
ZG-RC-C3-23-51 0.0 4.0 128 4.0 510
ZG-RC-C3-23-51 7.0 17.0 206 10.0 2,061
ZG-RC-C3-23-52 0.0 1.0 132 1.0 132
ZG-RC-C3-23-52 8.0 10.0 121 2.0 242
Underground T28
TD28-23-1950-661 7.2 10.8 142 3.6 512
TD28-23-1950-664 10.8 12.0 200 1.2 240
TD28-23-1950-664 13.2 14.4 100 1.2 120
TD28-23-1950-664 25.2 26.4 82 1.2 98
TD28-23-1950-665 9.6 14.4 1,653 4.8 7,933
Including 9.6 12.0 3,166 2.4 7,597
TD28-23-1950-665 16.8 18.0 91 1.2 109
TD28-23-1950-665 20.4 21.6 138 1.2 166
TD28-23-1950-667 13.2 16.8 248 3.6 893
TD28-23-1950-668 4.8 14.4 598 9.6 5,736
Including 4.8 10.8 837 6.0 5,023
TD28-23-1950-668 15.6 16.8 80 1.2 96
TD28-23-1950-668 18.0 19.2 88 1.2 106
TD28-23-1950-668 22.8 26.4 283 3.6 1,018
TD28-23-1950-669 6.0 15.6 933 9.6 8,954
Including 9.6 14.4 1,576 4.8 7,565
TD28-23-1950-669 19.2 24.0 181 4.8 866
TD28-23-1950-671 21.6 22.8 562 1.2 674
TD28-23-1950-672 13.2 16.8 489 3.6 1,759
TD28-23-1950-674 21.6 22.8 498 1.2 598
TD28-23-1950-675 19.2 25.2 147 6.0 881
TD28-23-1950-676 21.6 22.8 177 1.2 213
TD28-23-1950-677 3.6 9.6 342 6.0 2,050
TD28-23-1950-677 13.2 14.4 78 1.2 94
TD28-23-1950-677 16.8 26.4 623 9.6 5,978
Including 22.8 26.4 1,335 3.6 4,806
TD28-23-1950-678 2.4 3.6 129 1.2 154
TD28-23-1950-679 9.6 13.2 940 3.6 3,383
TD28-23-1950-679 16.8 26.4 259 9.6 2,489
TD28-23-1950-681 18.0 20.4 100 2.4 240
TD28-23-1950-681 21.6 24.0 88 2.4 211
TD28-23-1950-682 22.8 24.0 120 1.2 144
TD28-23-1950-683 3.6 10.8 294 7.2 2,114
Including 7.2 9.6 689 2.4 1,654
TD28-23-1950-683 18.0 26.4 422 8.4 3,542
Including 18.0 20.4 824 2.4 1,978
TD28-23-1950-697 4.8 6.0 414 1.2 497
TD28-23-1950-698 8.4 14.4 528 6.0 3,168
Including 8.4 10.8 1,077 2.4 2,585
TD28-23-1950-869 12.0 16.8 400 4.8 1,920
TD28-23-1968-877 14.4 16.8 77 2.4 185
TD28-23-1968-877 22.8 25.2 107 2.4 256
TD28-23-1975-685 7.2 8.4 76 1.2 91
TD28-23-1975-685 13.2 14.4 142 1.2 170
TD28-23-1975-686 7.2 8.4 103 1.2 123
TD28-23-1975-686 13.2 14.4 256 1.2 308
TD28-23-1975-687 4.8 6.0 1,034 1.2 1,240
TD28-23-1975-689 0.0 1.2 286 1.2 343
TD28-23-1975-689 2.4 3.6 198 1.2 238
TD28-23-1975-690 0.0 2.4 687 2.4 1,649
TD28-23-1975-730 13.2 14.4 164 1.2 197
TD28-23-1975-767 12.0 19.2 1,706 7.2 12,286
Including 13.2 15.6 4,688 2.4 11,251
TD28-23-1975-767 22.8 26.4 1,474 3.6 5,305
TD28-23-1975-768 2.4 3.6 110 1.2 132
TD28-23-1975-768 22.8 25.2 272 2.4 652
TD28-23-1975-769 22.8 26.4 253 3.6 912
TD28-23-1975-770 21.6 26.4 3,065 4.8 14,711
TD28-23-1975-771 1.2 4.8 177 3.6 637
TD28-23-2000-643 13.2 16.8 150 3.6 539
TD28-23-2000-644 12.0 13.2 76 1.2 91
TD28-23-2000-797 12.0 16.8 639 4.8 3,066
Including 14.4 16.8 1,151 2.4 2,762
TD28-23-2000-798 6.0 7.2 468 1.2 562
TD28-23-2000-798 14.4 20.4 305 6.0 1,829
TD28-23-2000-799 4.8 6.0 218 1.2 262
TD28-23-2000-799 10.8 12.0 162 1.2 195
TD28-23-2000-799 15.6 16.8 130 1.2 156
TD28-23-2000-800 0.0 2.4 111 2.4 265
TD28-23-2000-800 7.2 8.4 129 1.2 155
TD28-23-2000-803 4.8 7.2 910 2.4 2,184
TD28-23-2000-804 0.0 1.2 88 1.2 106
TD28-23-2000-804 16.8 18.0 92 1.2 110
TD28-23-2000-805 0.0 3.6 81 3.6 293
TD28-23-2000-805 14.4 18.0 151 3.6 542
TD28-23-2000-806 6.0 7.2 206 1.2 247
TD28-23-2000-806 16.8 22.8 744 6.0 4,461
Including 16.8 20.4 1163 3.6 4,185