Aya Gold & Silver Announces High-Grade Silver Drill Results at Zgounder
PRESS RELEASE
.
Aya Gold & Silver Announces High-Grade Silver Drill Results at Zgounder
Montreal, Quebec, September 6, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce additional drill results, confirming high-grade silver mineralization
at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o Diamond drill hole (“DDH”) DZG-SF-22-162 intercepted 1,242 grams per tonne (“g/t”) silver (“Ag”)
over 9.0 meters (“m”), including 2,052 g/t Ag over 5.0m.
o In the open-pit area to the East , reverse circulation (“RC”) drill hole ZG-RC-23-2230-212
intercepted 2,812 g/t Ag over 8m and ZG-RC-CT7-P63-23-63 intercepted 2,227 g/t Ag over 7.0m,
including 6,768 g/t Ag over 2.0m.
o In the Central Zone from the 1950m level
o hole TD28-23-1950-704 intercepted 1,893 g/t Ag over 12.0m, including
▪ 4,295 g/t Ag over 4.8m
o hole TD28-23-1950-699 intercepted 1,423 g/t Ag over 9.6m, including
▪ 3,474 g/t Ag over 3.6m
o hole TD28-23-1950-752 intercepted 858 g/t Ag over 12.0m, including
▪ 6,552 g/t Ag over 1.2m
o hole TD28-23-1950-765 intercepted 846 g/t Ag over 12.0m, including
▪ 2,238 g/t Ag over 3.6m
o From surface in the Western Zone, hole ZG-SF-23-010 intercepted 812 g/t Ag over 13.5m,
including 2,207 g/t Ag over 4.5m.
o In the Central Zone at the 2,100m level hole YAKD-23-2100-202 intercepted 1,005 g/t Ag over
30m including 2,354 g/t Ag over 12m.
“Today’s high-grade drill results including hole ZG-RC-23-2230-212 near the open-pit area to the East
continue to demonstrate continuity of mineralization from surface and at depth over the larger footprint
of the deposit ,” said Benoit La Salle, President & CEO. “We are also very encouraged by the YAKD-23-
2100-202 result through definition drilling and expect more significant intercepts in the coming months
as we accelerate underground drilling at Zgounder.”
Included in this release are results for 397 holes, which include five surface DDH, 13 underground DDH,
284 RC drill hole from pit definition drilling, 95 T28 and 26 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-SF-23-010 27.5 41.0 812 13.5 10965
Including 36.5 41.0 2207 4.5 9933
Underground DDH
DZG-SF-22-152 18.0 20.5 1608 2.5 4020
DZG-SF-22-162 49.5 58.5 1242 9.0 11179
Including 52.5 57.5 2052 5.0 10259
Surface RC
ZG-RC-23-2230-197 0.0 11.0 1087 11.0 11953
Including 5.0 8.0 3182 3.0 9545
ZG-RC-23-2230-207 4.0 15.0 486 11.0 5349
Including 10.0 15.0 845 5.0 4223
ZG-RC-23-2230-212 5.0 13.0 2812 8.0 22495
ZG-RC-23-2230-230 13.0 16.0 1912 3.0 5737
ZG-RC-23-2230-231 0.0 5.0 1341 5.0 6703
ZG-RC-23-2230-239 0.0 8.0 564 8.0 4514
ZG-RC-23-2240-122 21.0 34.0 436 13.0 5664
ZG-RC-23-2260-245 11.0 28.0 554 17.0 9425
Including 19.0 23.0 1866 4.0 7462
ZG-RC-CT1-P1-23-01 5.0 17.0 897 12.0 10758
ZG-RC-CT2-P10-23-10 34.0 39.0 843 5.0 4214
ZG-RC-CT3-P20-23-20 16.0 22.0 1819 6.0 10914
ZG-RC-CT4-P33-23-33 7.0 20.0 1009 13.0 13114
Including 13.0 16.0 3775 3.0 11326
ZG-RC-CT5-P41-23-41 13.0 27.0 407 14.0 5695
ZG-RC-CT6-P59-23-59 0.0 13.0 500 13.0 6497
ZG-RC-CT7-P63-23-63 8.0 15.0 2227 7.0 15588
Including 10.0 12.0 6768 2.0 13536
ZG-RC-CT7-P65-23-65 0.0 14.0 474 14.0 6639
ZG-RC-CT7-P66-23-66 20.0 24.0 1230 4.0 4922
Underground T28
TD28-23-1950-699 6.0 15.6 1423 9.6 13658
Including 7.2 10.8 3474 3.6 12505
TD28-23-1950-700 0.0 13.2 741 13.2 9787
Including 3.6 9.6 1369 6.0 8213
TD28-23-1950-704 13.2 25.2 1893 12.0 22718
Including 13.2 18.0 4295 4.8 20615
TD28-23-1950-752 9.6 21.6 858 12.0 10297
Including 10.8 12.0 6552 1.2 7862
TD28-23-1950-765 10.8 22.8 846 12.0 10147
Including 10.8 14.4 2238 3.6 8058
TD28-23-1950-766 15.6 22.8 1326 7.2 9550
Including 19.2 21.6 3204 2.4 7691
TD28-23-1975-636 10.8 20.4 684 9.6 6568
Underground YACK
YAKD-23-2100-189 2.4 10.8 1027 8.4 8623
Including 7.2 9.6 3176 2.4 7622
YAKD-23-2100-199 6.0 10.8 848 4.8 4072
YAKD-23-2100-202 6.0 36.0 1005 30.0 30151
Including 10.8 22.8 2354 12.0 28248
YAKD-23-2100-236 26.4 33.6 1464 7.2 10544
Including 26.4 30.0 2445 3.6 8803
YAKD-23-2100-238 31.2 43.2 1085 12.0 13025
Including 32.4 34.8 4136 2.4 9926
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 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 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 expl oration activities) and other opportunities.
Wherever possible, words such as “confirm”, “de-risk”, “expect”, “demonstrate”, “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, state ments 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 Mineral Reserve and Mineral
Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), the price of
silver, the price of gol d, 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 contr ol 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.sedar.com. 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 e ither 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-SF-23-010 17.5 20.5 1148 3.0 3443
ZG-SF-23-010 27.5 41.0 812 13.5 10965
Including 36.5 41.0 2207 4.5 9933
ZG-SF-23-011 3.0 4.5 862 1.5 1293
Underground DDH
DZG-SF-22-152 18.0 20.5 1608 2.5 4020
DZG-SF-22-152 22.0 23.0 84 1.0 84
DZG-SF-22-152 30.0 30.5 1346 0.5 673
DZG-SF-22-152 57.0 58.0 443 1.0 443
DZG-SF-22-152 65.5 66.5 478 1.0 478
DZG-SF-22-160 20.5 21.5 718 1.0 718
DZG-SF-22-160 68.5 69.5 118 1.0 118
DZG-SF-22-161 25.5 27.0 1336 1.5 2004
DZG-SF-22-162 12.0 13.5 155 1.5 232
DZG-SF-22-162 16.0 17.0 202 1.0 202
DZG-SF-22-162 32.0 32.5 87 0.5 44
DZG-SF-22-162 33.0 33.5 154 0.5 77
DZG-SF-22-162 46.5 47.5 150 1.0 150
DZG-SF-22-162 49.5 58.5 1242 9.0 11179
Including 52.5 57.5 2052 5.0 10259
DZG-SF-22-162 72.5 74.0 79 1.5 119
DZG-SF-22-162 75.5 76.5 122 1.0 122
DZG-SF-22-162 79.0 80.5 80 1.5 120
DZG-SF-22-166 22.0 23.5 1584 1.5 2376
DZG-SF-22-166 44.5 46.0 94 1.5 141
DZG-SF-22-166 50.5 52.0 404 1.5 606
DZG-SF-23-190 10.0 11.0 158 1.0 158
DZG-SF-23-192 15.0 16.0 150 1.0 150
Underground T28
TD28-23-1950-692 3.6 4.8 92 1.2 110
TD28-23-1950-695 0.0 2.4 488 2.4 1171
TD28-23-1950-696 3.6 6.0 182 2.4 437
TD28-23-1950-699 6.0 15.6 1423 9.6 13658
Including 7.2 10.8 3474 3.6 12505
TD28-23-1950-700 0.0 13.2 741 13.2 9787
Including 3.6 9.6 1369 6.0 8213
TD28-23-1950-704 13.2 25.2 1893 12.0 22718
Including 13.2 18.0 4295 4.8 20615
TD28-23-1950-706 8.4 12.0 262 3.6 943
TD28-23-1950-706 14.4 15.6 76 1.2 91
TD28-23-1950-708 19.2 20.4 291 1.2 349
TD28-23-1950-708 22.8 24.0 117 1.2 140
TD28-23-1950-709 10.8 14.4 714 3.6 2572
TD28-23-1950-747 18.0 20.4 128 2.4 307
TD28-23-1950-749 16.8 18.0 101 1.2 121
TD28-23-1950-750 0.0 3.6 427 3.6 1537
TD28-23-1950-752 6.0 7.2 104 1.2 124
TD28-23-1950-752 9.6 21.6 858 12.0 10297
Including 10.8 12.0 6552 1.2 7862
TD28-23-1950-753 25.2 26.4 245 1.2 293
TD28-23-1950-764 18.0 21.6 110 3.6 395
TD28-23-1950-764 22.8 24.0 77 1.2 92
TD28-23-1950-765 10.8 22.8 846 12.0 10147
Including 10.8 14.4 2238 3.6 8058
TD28-23-1950-766 1.2 2.4 600 1.2 720
TD28-23-1950-766 15.6 22.8 1326 7.2 9550
Including 19.2 21.6 3204 2.4 7691
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 6568
Including 15.6 16.8 3024 1.2 3629
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
TD28-23-1975-691 9.6 10.8 181 1.2 217
TD28-23-1975-691 15.6 18.0 143 2.4 342
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
TD28-23-2030-612 9.6 10.8 84 1.2 101
TD28-23-2030-612 13.2 15.6 113 2.4 271
TD28-23-2030-614 2.4 3.6 83 1.2 99
TD28-23-2030-614 7.2 8.4 85 1.2 102
TD28-23-2030-615 6.0 7.2 111 1.2 134
TD28-23-2030-615 8.4 9.6 142 1.2 170
TD28-23-2030-615 13.2 16.8 143 3.6 515
TD28-23-2030-617 13.2 16.8 177 3.6 636
TD28-23-2030-618 13.2 14.4 80 1.2 96
TD28-23-2030-618 18.0 26.4 246 8.4 2064
TD28-23-2030-796 14.4 16.8 113 2.4 271
TD28-23-2100-647 0.0 1.2 77 1.2 92
TD28-23-2100-647 14.4 16.8 333 2.4 798
TD28-23-2100-652 19.2 20.4 91 1.2 109
TD28-23-2100-657 0.0 1.2 154 1.2 185
TD28-23-2100-657 2.4 3.6 97 1.2 116
Underground YACK
YAKD-23-2100-187 9.6 15.6 102 6.0 610
YAKD-23-2100-187 20.4 21.6 84 1.2 101
YAKD-23-2100-189 2.4 10.8 1027 8.4 8623
Including 7.2 9.6 3176 2.4 7622
YAKD-23-2100-189 20.4 21.6 856 1.2 1027
YAKD-23-2100-192 4.8 10.8 233 6.0 1397
YAKD-23-2100-196 9.6 13.2 269 3.6 970
YAKD-23-2100-198 12.0 13.2 124 1.2 149
YAKD-23-2100-198 38.4 39.6 182 1.2 218
YAKD-23-2100-199 6.0 10.8 848 4.8 4072
Including 7.2 9.6 1453 2.4 3487
YAKD-23-2100-200 8.4 15.6 211 7.2 1522
YAKD-23-2100-200 33.6 36.0 105 2.4 252
YAKD-23-2100-201 36.0 38.4 505 2.4 1212
YAKD-23-2100-202 6.0 36.0 1005 30.0 30151
Including 10.8 22.8 2354 12.0 28248
YAKD-23-2100-203 7.2 13.2 232 6.0 1394
YAKD-23-2100-203 31.2 36.0 101 4.8 485
YAKD-23-2100-234 9.6 15.6 154 6.0 926
YAKD-23-2100-234 21.6 31.2 236 9.6 2269
YAKD-23-2100-234 37.2 38.4 77 1.2 92
YAKD-23-2100-235 12.0 14.4 101 2.4 241
YAKD-23-2100-235 22.8 24.0 153 1.2 184
YAKD-23-2100-236 7.2 10.8 213 3.6 768
YAKD-23-2100-236 26.4 33.6 1464 7.2 10544
Including 26.4 30.0 2445 3.6 8803
YAKD-23-2100-238 7.2 9.6 319 2.4 764
YAKD-23-2100-238 31.2 43.2 1085 12.0 13025
Including 32.4 34.8 4136 2.4 9926
Surface RC
ZG-RC-23-2220-242 14.0 15.0 1068 1.0 1068
ZG-RC-23-2230-181 16.0 18.0 859 2.0 1718
ZG-RC-23-2230-183 13.0 14.0 84 1.0 84
ZG-RC-23-2230-183 15.0 19.0 375 4.0 1501
ZG-RC-23-2230-196 1.0 2.0 80 1.0 80
ZG-RC-23-2230-196 3.0 5.0 101 2.0 203
ZG-RC-23-2230-196 7.0 12.0 260 5.0 1301
ZG-RC-23-2230-197 0.0 11.0 1087 11.0 11953
Including 5.0 8.0 3182 3.0 9545
ZG-RC-23-2230-198 10.0 11.0 121 1.0 121
ZG-RC-23-2230-198 12.0 14.0 301 2.0 601
ZG-RC-23-2230-199 10.0 11.0 117 1.0 117
ZG-RC-23-2230-199 14.0 15.0 81 1.0 81
ZG-RC-23-2230-207 4.0 15.0 486 11.0 5349
Including 10.0 15.0 845 5.0 4223
ZG-RC-23-2230-207 16.0 17.0 76 1.0 76
ZG-RC-23-2230-208 0.0 2.0 176 2.0 352
ZG-RC-23-2230-208 6.0 7.0 126 1.0 126
ZG-RC-23-2230-208 10.0 11.0 114 1.0 114
ZG-RC-23-2230-209 11.0 14.0 355 3.0 1065
ZG-RC-23-2230-210 0.0 1.0 396 1.0 396
ZG-RC-23-2230-210 8.0 9.0 254 1.0 254
ZG-RC-23-2230-212 5.0 13.0 2812 8.0 22495
ZG-RC-23-2230-214 0.0 1.0 79 1.0 79
ZG-RC-23-2230-223 3.0 4.0 146 1.0 146
ZG-RC-23-2230-224 4.0 12.0 207 8.0 1655
ZG-RC-23-2230-225 8.0 9.0 99 1.0 99
ZG-RC-23-2230-225 11.0 12.0 100 1.0 100
ZG-RC-23-2230-230 0.0 7.0 384 7.0 2686
Including 0.0 2.0 1013 2.0 2026
ZG-RC-23-2230-230 13.0 16.0 1912 3.0 5737
ZG-RC-23-2230-231 0.0 5.0 1341 5.0 6703
ZG-RC-23-2230-232 0.0 2.0 1118 2.0 2237