Aya Gold & Silver Confirms Discovery of Parallel Zones and Extends High- Grade Mineralization at Boumadine
PRESS RELEASE
Aya Gold & Silver Confirms Discovery of Parallel Zones and Extends High-
Grade Mineralization at Boumadine
MONTREAL, Quebec, February 14, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or
the “Corporation”) is pleased to announce new high-grade exploration drill results, which confirm the
extension of mineralization by 20% south of the main mineralized trend and confirm the discovery of
several parallel structures at Boumadine, in the Kingdom of Morocco.
Key Highlights1
• Definition of new mineralization and extension of the South Zone. The main mineralized trend,
which now extends over 3.2 kilometres (“km”), is open at both ends along strike and at depth.
o BOU-DD22-080 intercepted 2,715 g/t silver equivalent (“AgEq”) over 1.40m (2.86 g/t Au,
1,717 g/t Ag, 9.6% Zn, 3.5% Pb and 0.7% Cu)
o BOU-DD22-041 intercepted 609 g/t AgEq over 3.6m (4.02 g/t Au, 101 g/t Ag, 0.5% Zn,
2.5% Pb and 0.2% Cu) and 664 g/t AgEq over 1.70m (5.08 g/t Au, 106 g/t Ag, 0.8% Zn,
0.5% Pb and 0.2% Cu)
o BOU-DD22-053 intercepted 736 g/t AgEq over 2.2m (6.24 g/t Au, 41 g/t Ag, 1.4% Zn,
1.0% Pb and 0.02% Cu)
o BOU-DD22-050 intercepted 276 g/t AgEq over 9.5m ( 1.11 g/t Au, 94 g/t Ag, 1.0% Zn,
0.4% Pb and 0.1% Cu) including 3.9m at 431 g/t AgEq
o BOU-DD22-077 intercepted 385 grams per tonne (“g/t”) AgEq over 6.6 metres (“m”)
(3.22 g/t Au, 26 g/t Ag, 0.7% Zn, 0.5% Pb and 0.03% Cu) including 1.2m at 1,037 g/t AgEq
• 18,335m of drilling completed as of December 31, 2022, for a total of 86 diamond drill holes
(“DDH”)
• Extension of the main mineralized trend to the south, extending mineralization to over 3.2 km of
strike length, and remaining open in all directions
• Confirmation of a satellite mineralization body at Tizi , and discovery of new parallel structures
along the main trend
• Currently, three rigs are drilling at Boumadine as part of the 36,000m program planned for 2023
1 All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios calculated with
September 7, 2022, prices: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag
“We are excited with these drill results at Boumadine, which extend mineralization by 20% to over 3.2
kilometres and confirm the existence of parallel zones that significantly increase the potential to add
high-grade ounces,” said Benoit La Salle, President & CEO. “The 2023 drill exploration program has
nearly doubled in size over last year’s program , with the objective of extending the main mineralized
trend to the south and delineating the known mineralization to deliver a resource statement over the
next 12 months.”
Table 1 – Significant Intercepts from 2022 Boumadine Drill Exploration Program (core lengths)
DDH No. Section From
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag Eq**
(g/t)
BOU-DD22-040 Central North 66.0 68.0 3.77 88 2.0 0.0 1.7 10.1 30 1,045
BOU-DD22-040 Central North 185.2 185.9 6.58 361 0.7 0.9 0.7 1.0 7 1,172
BOU-DD22-041 Central North 208.7 212.3 4.02 101 3.6 0.2 2.5 0.5 2 609
BOU-DD22-041 Central North 224.2 225.9 5.08 106 1.7 0.2 0.5 0.8 5 664
BOU-DD22-045 North 62.7 65.7 0.92 111 3.0 0.0 0.1 0.4 13 226
BOU-DD22-047 North 176.0 177.1 1.61 350 1.1 0.3 2.5 1.3 3 689
BOU-DD22-049 North 38.5 41.7 0.54 117 3.2 0.0 0.4 0.2 9 192
BOU-DD22-050 North 104.5 114.0 1.11 94 9.5 0.1 0.4 1.0 10 276
Including 105.6 109.5 2.16 191 3.9 0.1 0.2 0.3 10 431
BOU-DD22-053 Tizi North 51.8 54.0 6.24 41 2.2 0.0 1.0 1.4 3 736
Including 51.8 52.4 19.99 67 0.6 0.0 1.7 2.2 4 2,115
BOU-DD22-054 Tizi North 52.8 56.1 0.43 67 3.3 0.0 0.5 1.2 3 188
BOU-DD22-062 North 154.5 155.8 2.45 39 1.3 0.1 0.6 0.6 21 329
BOU-DD22-077 South 5 521.0 527.6 3.22 26 6.6 0.0 0.5 0.7 17 385
Including 523.4 524.6 8.73 62 1.2 0.0 0.6 2.5 44 1,037
BOU-DD22-078 Central 1 304.6 310.3 0.83 29 5.7 0.0 0.9 1.7 9 231
Including 304.6 306.5 1.29 62 1.9 0.1 2.3 4.3 8 499
BOU-DD22-080 Central-South 202.9 210.0 0.85 420 7.1 0.2 0.8 2.9 105 707
Including 208.6 210.0 2.86 1717 1.4 0.7 3.5 9.6 28 2,715
BOU-DD22-082 Central-South 322.9 324.6 1.62 36 1.7 0.1 0.7 0.8 7 261
BOU-DD22-083 Central-South 159.6 169.6 0.58 21 10.0 0.0 0.5 0.8 12 142
* True width remains undetermined at this stage; all values are uncut.
** Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag;
1% Zn: 54.1 Ag.
Figure 1 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2022
Drill Holes
2022 Exploration Results and 2023 Drilling Programs
The 2022 drill exploration program at Boumadine completed 86 DDH for a total of 18,335m (Appendix
2). The drilling was completed on five targets: Central, South, Imariren, Tizi and the Southwest Zones
(Figure 1).
All of the 2022 drilling results have been received except for hole BOU-DD22-086 (Table 1 and Appendix
1). Figures 5 to 8 present each of the sections drilled along the main trend , its significant results, and
geological interpretation.
Results from the second phase of drilling along the main trend, both north (BOU-DD22-041and BOU-
DD22-050) and south (BOU-DD22-077), extend the known mineralization to over 3.2 km strike length
which remains open in all direction s. Drilling to date also confirms discovery of parallel structures as
shown by significant intersects, including BOU-DD22-078 and BOU -DD22-083. A mineralized satellite
zone was also confirmed at Tizi.
The mineralization consists generally of 1m to 4m widths (locally reaching over 10m width) N340-
oriented massive sulfide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins
(>80%) are composed mainly of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite.
In 2023, Aya intends to complete a 36,000m drill program , of which 21,000m will be allocated to
delineation drilling along the main trend with the aim of building a resource (Figure 2). The remaining
15,000m will target new zones as well as extensions of the main trend along strike and at depth. The
new 3D interpretation and model of the VTEM survey (Figure 3) will allow the Corporation to clearly
follow the conductive anomaly , in addition to directly help ing the exploration and the delineation
programs.
Figure 2 – Surface Plan of Boumadine Property with VTEM Data (Slice 75m), 2022 Drill Holes and
Planned Drill Holes for 2023 Drill Program
Figure 3 – Interpreted 3D Conductor (Main Trend) from VTEM Data
Figure 4 – Section North of Boumadine’s Main Trend with BOU-DD22-049 and BOU-DD22-050
Figure 5 – Section Central-North of Boumadine’s Main Trend with BOU-DD22-040 and BOU-DD22-041
Figure 6 – Section Central-South of Boumadine’s Main Trend with BOU-DD22-080 and BOU-DD22-082
Figure 7 – Section South 5 of Boumadine’s Main Trend with BOU-DD22-077
Next Steps
The 36,000m drilling program is expected to be completed by mid 2023. The relogging and resampling
of historic drill hole s is ongoing for expected completion this year. Aya expects to use both data in
estimating an NI 43-101-compliant resource update within the next 12 months . In addition, detail ed
surface mapping of the area is ongoing and is expected to be completed in the first half of this year.
Technical Information
Aya has implemented a quality control program to comply with best practices in sampling and analysis
of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in
Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the
standards, blanks and pulp duplicate inserted by Afrilab.
Qualified Person
The scientific and technical information contained in this press release have been reviewed by David
Lalonde, B. Sc , Head of Exploration, Qualified Person , 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 maximizes shareholder value by anchoring sustainability at the heart of its
production, resource, governance, and financial growth plans.
For additional information, please visit Aya’s website at www.ayagoldsilver.com or contact:
Benoit La Salle, FCPA
President & CEO
Alex Ball
VP, Corporate Development & IR
Forward-Looking Statements
This press release contains certain statements that constitute forward -looking information within the
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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.
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of Inferred Mineral Resources into Measured and Indicated Mineral Resources, future opportunities for
enhancing development at Zgounder, a nd timing for the release of the Company's disclosure in
connection with the foregoing. Although the forward-looking information contained in this press release
reflect management's current beliefs based upon information currently available to management a nd
based upon what management believes to be reasonable assumptions, Aya cannot be certain that
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other things, the closing a nd timing of financing, the ability to obtain any requisite governmental
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inherent risks involved in exploration and development of mineral properties, including government
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described in Aya's 2021 Annual Information Form dated June 16, 2022, and in other filings of Aya with
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