Aya Gold & Silver Extends Boumadine Main Zone to 5.4km and Reports High-Grade Drill Results
PRESS RELEASE
Aya Gold & Silver Extends Boumadine Main Zone to 5.4km and
Reports High-Grade Drill Results
Montreal, Quebec, September 16, 2024 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or
the “Corporation”) is pleased to announce new high-grade drill exploration results from its 2024 program
of 120,000 meters (“m”) at Boumadine in the Kingdom of Morocco. Today’s results extend the main
mineralized trend by 400m and continue to demonstrate continuity of the Boumadine Main Zone, which
remains open in all directions.
Key Highlights1
• Extension of Boumadine strike length to 5.4 kilometers (“km”):
• BOU-DD24-376 intercepted 462 grams per tonne (“g/t”) silver equivalent (“AgEq”) over
2.8m ( 2.25 g/t gold (“ Au”), 49 g/t silver (“ Ag”), 7.8% zinc (“ Zn”), 0.6% lead (“ Pb”) and
0.1% copper (“Cu”) including 2.0m at 494 g/t AgEq
• BOU-DD24-365 intercepted 520 g/t AgEq over 1. 2m ( 5.30 g/t Au, 37 g/t Ag, 1.4% Zn,
1.0% Pb and 0.9% Cu)
• New style of mineralization with very high silver grade:
• BOU-DD24-329 intercepted 1,937 g/t Ag and 1.66% Cu over 1.9m
• Ongoing high grade and continuity of Tizi Zone:
• BOU-DD24-340 intercepted 412 g/t AgEq over 3.1m ( 1.22 g/t Au, 199 g/t Ag, 3.0% Zn,
1.0% Pb and 0.1% Cu), including 1.1m at 708 g/t AgEq
• Receipt of all deliverables from the Mobile MT geophysical survey:
• Identification of multiple new targets which will be tested in the coming months
“We are thrilled with today’s exceptional high-grade drill results, including BOU-DD24-376 in the southern
part of the Main Trend, which extend the Boumadine strike length to 5.4km. Additionally, BOU-DD24-329
indicates a new style of very high -grade mineralization, which reaffirms the significant potential for
resource growth,” said Benoit La Salle, President & CEO. “The positive geophysical results and the
upcoming 3D inversion will be invaluable in identifying parallel zones and expanding Boumadine along
strike and at de pth. We look forward to drilling up these promising geophysical targets in the coming
months.”
1 All intersections are in core lengths. Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%, a
gold price of US$1,900/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead
price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting
in the following ratios: 1g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; and 1% Zn: 28.1 g/t Ag.
Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)
DDH No. Section Zone
From To Au Ag Length* Cu Pb Zn Mo Ag Eq**
(m) (m) (g/t) (g/t) (m) (%) (%) (%) (g/t) (g/t)
BOU-DD24-310 34777500 Tizi 356.0 358.4 3.01 44 2.4 0.03 0.10 0.64 9 299
BOU-DD24-311 9550N Para 389.4 391.2 1.66 37 1.8 0.11 0.22 6.16 4 354
BOU-DD24-312 9525N Para 465.7 467.5 2.23 33 1.8 0.12 0.30 1.20 5 258
BOU-DD24-315 East-West East-West 52.7 54.2 0.83 129 1.5 0.03 1.21 2.40 32 298
BOU-DD24-316 3477300 Tizi 44.7 46.0 1.57 107 1.3 0.05 2.06 3.71 5 395
BOU-DD24-316 3477300 Tizi 52.4 53.3 2.29 138 0.9 0.07 2.55 5.38 3 543
BOU-DD24-317 3477300 Tizi 36.6 38.6 2.63 26 2.0 0.01 0.37 0.94 4 265
BOU-DD24-317 3477300 Tizi 105.0 106.6 1.96 65 1.6 0.12 1.36 2.44 27 334
BOU-DD24-324 9525N Para 111.7 116.1 0.66 111 4.4 0.01 1.19 2.26 4 260
BOU-DD24-327 3476900 Tizi 217.5 219.6 1.79 64 2.1 0.01 0.89 1.62 6 272
BOU-DD24-329 East-West East-West 142.1 144.0 0.03 1,937 1.9 1.66 0.16 0.17 7 2,110
BOU-DD24-334 3476900 Tizi 324.0 324.5 1.26 444 0.5 0.03 5.60 4.74 8 832
BOU-DD24-340 3477100 Tizi 219.1 222.2 1.22 199 3.1 0.08 0.96 3.00 9 412
Including 219.1 220.2 1.88 459 1.1 0.19 1.07 2.02 7 708
BOU-DD24-342 9750N Para 203.4 204.4 0.03 104 1.0 0.05 8.80 9.90 5 633
BOU-DD24-349 East-West East-West 203.0 203.8 0.25 200 0.8 0.94 10.77 13.05 10 975
BOU-DD24-353 East-West East-West 354.0 356.3 0.06 107 2.3 0.26 4.78 36.67 5 1,300
BOU-DD24-365 9525N Para 625.8 627.0 5.30 37 1.2 0.09 0.96 1.41 5 520
BOU-DD24-368 5200N Para 398.9 399.9 0.19 65 1.0 0.04 5.80 16.56 1 709
BOU-DD24-369 5200N Main 521.5 523.1 0.88 188 1.6 0.01 4.19 4.64 207 508
BOU-DD24-372 9750N Para 666.8 667.8 15.16 1 1.0 0.01 0.01 0.01 4 1,168
BOU-DD24-374 9050 Main 243.3 244.6 3.96 60 1.3 0.02 0.23 1.34 6 410
BOU-DD24-374 9050 Para 286.0 288.5 0.10 60 2.5 0.98 1.45 6.34 12 381
BOU-DD24-376 9250N Main 35.9 38.7 2.25 49 2.8 0.05 0.55 7.82 10 462
Including 35.9 37.9 3.00 60 2.0 0.06 0.66 6.32 11 494
* True width remains undetermined at this stage; all values are uncut.
** Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%, a gold price of US$1,900/oz with a process recovery
of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery o f 85%, and a copper
price of US$4.00/lb with a process recovery of 75% resulting in the following ratios: 1g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t
Ag; and 1% Zn: 28.1 g/t Ag.
Figure 1 - Surface Plan of Boumadine Property with Apparent Conductivity at 175Hz and 2024 Drill
Holes
2024 Exploration Results
This year, 129 diamond drill holes (“DDH”) and 2 reverse circulation holes (“RC ”) for 63,469m have
been completed at Boumadine (Figure 1 and Appendix 2). Drilling was conducted on strike along the
Main Trend (North and South Zones), Tizi and North-West Zones as well as on some east-west
structures. The majority of results have been received for drill holes up to BOU-D D24-376 (Table 1,
Figure 3, Figure 4, and Appendix 1).
Results received since May 2024 including hole BOU-DD24-376 and BOU-DD24-369 confirm the high-
grade continuity of the Main Trend and extend the mineralized strike length to 5 .4km. The Main Trend
remains open in all directions. Today’s results, with BOU-DD24-310 and BOU-DD24-340, also confirm the
high grade and continuity of the Tizi Zone. The Tizi Zone also remains open in all directions.
Hole BOU-DD24-329 returned high-grade silver results including 1,937 g/t Ag over 1.9m in an east-west
structure. This new structure is a stockwork of brecciated carbonate-quartz-pyrite-chalcopyrite +/-
tetrahedrite veinlets with low temperature texture.
The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340-
oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins
(>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite.
Tizi and Imarriren share the same characteristics except for their N000 orientation. Figure 2 presents
the results of the Boumadine Main Zone on a longitudinal section along the deposit.
Figure 5 gives the 3D inversion of the Mobile MT survey for the section 3476300N , where a similar
geophysical signature to Boumadine 5km west is clearly visible. The figure includes the planned drill
holes to test the west conductive target. In Figure 6, the geophysical survey of section 6000N returned
very strong low resistivity anomalies at depth beneath the Boumadine mineralized body. The proposed
drill program will test both 100m below hole BOU -DD23-095, which returned 129.4m at 192 g/t AgEq
(press release of April 19, 2023), and the high apparent conductivity seen at depth.
Figure 2 – Longitudinal View of Boumadine Main Zone
Figure 3 – Surface Plan of North & Tizi Zones with New 2024 DDH Results
Figure 4 – Surface Plan of South Zone with New 2024 DDH Results
Figure 5 – Section 3476300 with 3D Inversion and the West Conductivity Target
Figure 6 – Section 6000N with 3D Inversion and Deep Boumadine Conductivity Target
Next Steps
Significant upside potential exists to expand the Boumadine Main Trend, which currently extends 5.4km
and remains open in all directions. Currently, the Corporation has mobilized ten drill rigs to complete the
120,000m drilling program. Half of the program will test the continuation of the known trend and infill.
The remaining 50% will focus on geological targets generated by 2023 work and will be supplemented
by th is year’s hyperspectral and geophysical surveys . The results from ongoing geology work will
determine additional development work.
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, Vice-President 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, subject to the announcement of September 12, 2024, is being
developed by Mx2 Mining, a new spinout gold-growth company.
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, 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 “extend”, “indicate”, “potential”, “expanding”, “look forward”,
“promising”, “remains”, “extend”, 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 Boumadine and the advancement of and success of the exploration program
at Boumadine , and 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 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 manageme nt 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 an y
requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates
(including, but not limited to, ore tonnage and ore grade estimates), silver price, 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 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 2023 Annual Information Form dated March 28, 2024, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Furthermore,
Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies
regarding non-material assets remains applicable as at the date hereof. 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 solicit ation to buy or sell Aya securities. All references to Aya include its subsidiaries
unless the context requires otherwise.