Aya Gold & Silver Announces Multiple High-Grade Drilling Intercepts at Zgounder
PRESS RELEASE
.
Aya Gold & Silver Announces Multiple High-Grade Drilling Intercepts at
Zgounder
Montreal, Quebec, July 19 , 2022 - Aya Gold & Silver Inc. (TSX: AYA ; OTCQX: AYASF ) (“A ya” or the
“Corporation”) is pleased to announce high-grade silver drilling results from its ongoing drilling program
at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o Delineation of a new high-grade eastern zone between the 2,150 and 2,200-meter (“m”) levels with
ZG-22-55, which intercepted 1,102 grams per tonne (“g/t”) silver (“Ag”) over 14.5m including
▪ 11,520 g/t Ag over 0.5m
▪ 8,320 g/t Ag over 0.5m
▪ 3,408 g/t Ag over 0.5m
▪ 1,308 g/t Ag over 1.5m
o Opening of a new central zone at the 2,030m level by hole YAK-22-2030-7bis, which intercepted
671 g/t Ag over 14.4m including
▪ 2,396 g/t Ag over 1.2m
▪ 1,794 g/t Ag over 1.2m
▪ 1,438 g/t Ag over 1.2m
and by YAK-22-2035-4bis, which intercepted 792 g/t Ag over 9.6m including
▪ 1,338 g/t Ag over 1.2m
▪ 1,321 g/t Ag over 1.2m
▪ 1,221 g/t Ag over 1.2m
▪ 1,186 g/t Ag over 1.2m
o Continued e xtension of a working area at the 2,000m level with T28-8-15, which intercepted
1,311 g/t Ag over 6m including
▪ 5,549 g/t Ag over 1.2m
o Further definition of the eastern strike by ZG-22-47, which intercepted 703 g/t Ag over 10.5m
including
▪ 11,680 g/t Ag over 0.5m
“Zgounder continues to deliver excellent results, with significant high-grade intercepts including holes
ZG-22-55 and ZG-22-47 returning near-surface mineralisation with meaningful width. Additionally, holes
YAK-22-2030-7bis and YAK -22-2035-4bis represent a cluster of grade-rich intervals in a new zone located
at the 2,030-meter level, which confirms the potential of an up-dip extension between the 2,025 and 2,100-
meter levels. Overall, results continue to extend high grades into new development zones,” said Benoit
La Salle, President & CEO.
Included in this release are results for 61 holes, which include 10 surface diamond drill holes (“DDH”), 13
underground DDH, 22 T28 and 16 YAK (T28 & YAK: percussion drilling using an air-compressed hammer)
holes. For a full summary of today’s results, refer to Appendixes 1 and 2.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
Hole No. From (m) To (m) Length1 (m) Ag2 (g/t)
Surface
ZG-22-33 22.00 23.50 1.50 128
26.50 29.00 2.50 742
33.50 36.00 2.50 333
39.00 40.50 1.50 1,243
58.50 60.00 1.50 128
ZG-22-47 16.50 18.00 1.50 544
99.50 109.00 9.50 296
123.00 127.50 4.50 590
including 0.50 4,320
137.50 138.50 1.00 2,960
142.00 143.50 1.50 363
152.00 163.00 10.50 703
including 0.50 1,380
including 0.50 11,680
179.00 181.50 2.50 133
ZG-22-51 89.00 91.00 2.00 1,475
ZG-22-55 7.00 8.50 1.50 77
11.50 13.00 1.50 464
18.50 33.00 14.50 1,102
including 1.50 1,308
including 0.50 11,520
including 0.50 8,320
including 0.50 3,408
35.50 37.00 1.50 336
Underground
YAK-22-2030-7bis 6.00 20.40 14.40 671
including 1.20 1,794
including 1.20 2,396
including 1.20 1,438
T28-8-15 0.00 6.00 6.00 1,311
including 1.20 5,549
YAK-22-2035-4bis 15.60 18.00 2.40 291
33.60 43.20 9.60 792
including 1.20 1,186
including 1.20 1,221
including 1.20 1,338
including 1.20 1,321
DZG-SF-22-77 109.00 110.50 1.50 1,795
DZG-SF-22-81 21.00 22.50 1.50 168
38.50 40.00 1.50 2,533
T28-21-1975-330-P8 10.80 12.00 1.20 2,097
YAKD-22-2000-024 13.20 15.60 2.40 1,100
YAKD-22-2000-027 0.00 7.20 7.20 311
15.60 16.80 1.20 2,161
YAKD-22-2000-028 3.60 7.20 3.60 1,577
YAK-22-2030-8bis 12.00 13.20 1.20 1,423
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 DDH Results at Zgounder as per Appendixes 1 & 2
Quality Assurance
For core drilling, all individual samples represent approximately one metre 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”) i n 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 us ing T28 drilling equipment, all individual sample s represent 1.2m in length.
Samples are assayed at either the Zgounder Mine Laboratory (“ZMSM”) or at Afrilab. At Afrilab, all
samples are analyzed for silver, copper, iron, lead, and zinc using Aqua regia a nd 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.
Marc-Antoine Audet, Ph.D. P. Geo, Geological Consultant, is Aya Gold & Silver’s Qualified Person and has
reviewed this press release for accuracy and compliance with National Instrument 43-101.
Q2-2022 Results
The Corporation will release its second quarter 2022 financial and operational results before market-
open on August 12, 2022.
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 FCA
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”, “de-risk”, “expect”, “demonstrate”, “continuity”, “potential”,
“continue”, “expand”, “seem s”, 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 requisi te
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 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 rel iance
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 2021 Annual Information Form dated March 31, 2022, 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, pro jections, 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 Surface Drilling at Zgounder (core lengths)
Hole No. From
(m)
To
(m)
Length1
(m)
Ag2
(g/t)
ZG-22-30 82.00 83.50 1.50 381
ZG-22-31 9.50 15.50 6.00 650
88.00 89.50 1.50 552
ZG-22-33 22.00 23.50 1.50 128
26.50 29.00 2.50 742
33.50 36.00 2.50 333
39.00 40.50 1.50 1,243
58.50 60.00 1.50 128
ZG-22-38 223.00 227.00 4.00 118
ZG-22-47 16.50 18.00 1.50 544
99.50 109.00 9.50 296
123.00 127.50 4.50 590
including 0.50 4,320
137.50 138.50 1.00 2,960
142.00 143.50 1.50 363
152.00 163.00 10.50 703
including 0.50 1,380
including 0.50 11,680
179.00 181.50 2.50 133
ZG-22-48
66.50 68.00 1.50 136
102.50 103.50 1.00 252
ZG-22-49 83.00 85.00 2.00 586
149.50 152.50 3.00 636
157.50 170.00 12.50 678
including 0.50 2,480
including 0.50 1,908
including 0.50 7,280
including 0.50 1,908
including 0.50 1,628
174.00 183.50 9.50 123
186.00 190.00 4.00 367
including 0.50 2,560
ZG-22-50
138.00 139.50 1.50 98
144.00 145.00 1.00 259
ZG-22-51 89.00 91.00 2.00 1,475
ZG-22-55 7.00 8.50 1.50 77
11.50 13.00 1.50 464
18.50 33.00 14.50 1,102
including 1.50 1,308
including 0.50 11,520
including 0.50 8,320
including 0.50 3,408
35.50 37.00 1.50 336
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.
Appendix 2 - Mineral Intercepts from Underground Drilling at Zgounder (core lengths)
Hole No. From
(m)
To
(m)
Length1
(m)
Ag2
(g/t)
DZG-SF-22-71 80.50 84.00 3.50 181
DZG-SF-22-72 16.00 17.50 1.50 368
36.50 41.50 5.00 293
52.50 53.50 1.00 160
DZG-SF-22-73
22.00 25.50 3.50 702
91.50 92.00 0.50 586
DZG-SF-22-75 37.50 43.00 5.50 191
DZG-SF-22-77 109.00 110.50 1.50 1,795
DZG-SF-22-78 9.00 12.00 3.00 412
DZG-SF-22-79 42.50 47.50 5.00 265
DZG-SF-22-81 21.00 22.50 1.50 168
38.50 40.00 1.50 2,533
DZG-SF-22-82 6.00 9.00 3.00 960
DZG-SF-22-83 7.50 9.00 1.50 1,004
DZG-SF-22-85 6.00 7.50 1.50 363
DZG-SF-22-86 5.50 7.50 2.00 1,940
DZG-SF-22-91 8.00 9.00 1.00 162
13.00 18.50 5.50 414
T28 Drilling
TD28-22-1975-120 20.40 24.00 3.60 110
TD28-22-1975-121 3.60 6.00 2.40 177
TD28-22-1975-122 3.60 6.00 2.40 189
0.00 6.00 6.00 876
TD28-22-1975-123 21.60 25.20 3.60 146
T28-21-1975-330-P8 10.80 12.00 1.20 2,097
T28-21-2100-168bis 0.00 4.80 4.80 638
T28-21-2100-169bis 4.80 12.00 6.00 535
T28-21-2100-170bis 0.00 12.00 12.00 141
T28-21-2100-173bis 4.80 7.20 2.40 1,681
T28-21-2100-174bis 13.20 18.00 4.80 149
T28-21-2100-175bis 19.20 20.40 1.20 234
T28-21-2100-180bis 0.00 2.40 2.40 146
T28-21-2100-181bis 2.40 3.60 1.20 183
6.00 10.80 4.80 695
T28-22-2075-826 10.80 12.00 1.20 404
15.60 19.20 3.60 875
T28-22-2075-827 14.40 18.00 3.60 234
T28-8-15 0.00 6.00 6.00 1,311
including 1.20 5,549
TD28-22-2125-132 0.00 2.40 2.40 818
TD28-22-2125-133 16.80 18.00 1.20 89
TD28-22-2125-134 6.00 12.00 6.00 311
TD28-22-2125-138 4.80 6.00 1.20 198
TD28-22-1975-163 16.80 20.40 3.60 117
TD28-22-1975-165 19.20 20.40 1.20 288
YAK Drilling
YAKD-22-2075-023 9.60 13.20 3.60 135
27.60 28.80 1.20 112
YAKD-22-2000-024 13.20 15.60 2.40 1,100