Aya Gold & Silver Extends High-Grade Silver Mineralization at Depth at Zgounder
PRESS RELEASE
.
Aya Gold & Silver Extends High-Grade Silver Mineralization at Depth at Zgounder
Montreal, Quebec, December 21, 2022 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce additional drill exploration results, confirming the extension of high-grade
silver mineralization at depth at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o At the central zone just below 2,000 meter (“m”) level extending the high-grade zone discovered recently,
o hole TD28-22-2000-308 intercepted 3,9 56 grams per tonne (“g/t”) silver (“Ag”) over 21.60m
including
5,792 g/t Ag over 14.40m
o hole TD28-22-2000-305 intercepted 5,691 g/t Ag over 9.60m including
8,840 g/t Ag over 6.00m
o hole TD28-22-2000-307 intercepted 1,972 g/t Ag over 15.60m including
2,538 g/t Ag over 12.00m
o Surface drilling including ZG-DCD-22-06 at the bottom contact with the granite intersecte d 1,220 g/t Ag
over 6.50m and 5,132 g/t over 2.50m. ZG-22-64, intersected 2,074 g/t over 3.50m, confirming high-grade
mineralization at, or near, the contact with the granite.
o From diamond definition drilling, DZG-SF-22-129 intercepted 708 g/t Ag over 11.00m, DZG-SF-122
intercepted 646 g/t over 11.00m and DZG-SF-135 intercepted 423 g/t over 13.50m upward from level
2,030m.
“Today’s surface drilling results are part of our drill exploration program aimed at extending the high -grade
mineralization at depth towards the granite contact at Zgounder,” said Benoit La Salle, President & CEO. “We are
very pleased with the overall continuity of the deposit, which continues to expand the known mineralization and
deliver high-grade ounces.”
Included in this release a re results for 105 holes, which include 19 surface diamond drill hole (“DDH”) , 13
underground DDH, 56 T28 and 17 YAK (T28 & YAK: percussion drilling using an air-compressed hammer) holes.
For a full summary of today’s results, refer to Appendix 1.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
DDH No. From To Ag
(g/t)
Length
(m)*
Ag x
width
Surface DDH
DZG-SF-22-122 32.5 43.5 646 11.0 7,105
DZG-SF-22-127 29.0 37.0 645 8.0 5,162
DZG-SF-22-129 40.5 51.5 708 11.0 7,787
DZG-SF-22-135 85.0 98.5 423 13.5 5,704
ZG-DCD-22-06 267.5 274.0 1,220 6.5 7,928
Including 272.5 273.5 5,322 1.0 5,322
ZG-DCD-22-06 421.5 424.0 5,132 2.5 12,829
Including 421.5 422.5 12,560 1.0 12,560
Underground DDH
ZG-22-64 336.5 340.0 2,074 3.5 7,259
Including 337.0 339.0 3,535 2.0 7,070
Underground T28
TD28-22-1950-331 16.8 21.6 1,993 4.8 9,568
TD28-22-2000-305 16.8 26.4 5,691 9.6 54,631
Including 18.0 24.0 8,840 6.0 53,042
TD28-22-2000-306 19.2 25.2 939 6.0 5,636
TD28-22-2000-307 2.4 18.0 1,972 15.6 30,770
Including 2.4 14.4 2,538 12.0 30,454
TD28-22-2000-308 1.2 22.8 3,956 21.6 85,459
Including 3.6 18.0 5,792 14.4 83,403
TD28-22-2075-349 3.6 10.8 846 7.2 6,091
Underground YACK
YAKD-22-1950-100 30.0 50.4 620 20.4 12,649
Including 31.2 37.2 1,588 6.0 9,526
YAKD-22-2075-086 0.0 3.6 1,415 3.6 5,092
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
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”) 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, all individual samples 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 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, Bc.S. 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 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”, “extend”,
“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, 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 experi ence, 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 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 2021 Annual Information Form dated June 16, 2022,
and in other filings of Aya with securities and regula tory 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 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 Drilling at Zgounder (core lengths)
DDH No. From To Ag
(g/t)
Length
(m)*
Ag x
width
Surface DDH
DZG-SF-22-119 33.0 46.0 204 13.0 2,654
DZG-SF-22-119 49.0 53.0 158 4.0 633
DZG-SF-22-121 31.0 35.5 585 4.5 2,633
DZG-SF-22-121 77.0 78.5 218 1.5 327
DZG-SF-22-121 84.5 96.0 354 11.5 4,068
DZG-SF-22-122 32.5 43.5 646 11.0 7,105
DZG-SF-22-122 49.5 52.5 135 3.0 404
DZG-SF-22-122 55.0 57.5 98 2.5 244
DZG-SF-22-122 101.0 102.5 200 1.5 300
DZG-SF-22-124 3.0 4.0 342 1.0 342
DZG-SF-22-124 34.0 37.5 170 3.5 595
DZG-SF-22-126 1.5 3.0 246 1.5 369
DZG-SF-22-126 34.0 35.5 370 1.5 555
DZG-SF-22-126 42.0 45.5 1,353 3.5 4,734
DZG-SF-22-126 59.5 60.5 200 1.0 200
DZG-SF-22-126 103.0 104.5 430 1.5 645
DZG-SF-22-127 29.0 37.0 645 8.0 5,162
DZG-SF-22-127 44.5 51.5 335 7.0 2,345
DZG-SF-22-127 80.0 83.0 223 3.0 669
DZG-SF-22-127 101.5 104.5 165 3.0 496
DZG-SF-22-129 3.0 4.5 1,678 1.5 2,516
DZG-SF-22-129 40.5 51.5 708 11.0 7,787
DZG-SF-22-130 3.0 4.5 1,532 1.5 2,298
DZG-SF-22-130 34.0 35.0 274 1.0 274
DZG-SF-22-130 39.0 41.0 373 2.0 746
DZG-SF-22-131 1.5 4.5 133 3.0 398
DZG-SF-22-132 3.0 4.5 140 1.5 210
DZG-SF-22-132 20.0 21.5 150 1.5 225
DZG-SF-22-132 30.5 35.5 468 5.0 2,340
DZG-SF-22-132 42.0 46.5 166 4.5 746
DZG-SF-22-132 80.5 81.5 261 1.0 261
DZG-SF-22-133 18.0 19.5 1,196 1.5 1,794
DZG-SF-22-134 39.5 42.5 402 3.0 1,207
DZG-SF-22-134 48.0 49.5 174 1.5 261
DZG-SF-22-134 83.5 85.0 143 1.5 215
DZG-SF-22-135 34.5 37.5 95 3.0 285
DZG-SF-22-135 41.5 55.0 127 13.5 1,709
DZG-SF-22-135 59.0 65.5 204 6.5 1,327
DZG-SF-22-135 71.0 74.0 271 3.0 812
DZG-SF-22-135 85.0 98.5 423 13.5 5,704
DZG-SF-22-137 64.5 66.0 2,303 1.5 3,455
DZG-SF-22-138 52.0 55.0 131 3.0 393
DZG-SF-22-138 83.0 84.5 195 1.5 292
DZG-SF-22-140 2.5 3.5 433 1.0 433
ZG-DCD-22-05 342.0 343.5 364 1.5 545
ZG-DCD-22-06 267.5 274.0 1,220 6.5 7,928
Including 272.5 273.5 5,322 1.0 5,322
ZG-DCD-22-06 380.0 380.5 848 0.5 424
ZG-DCD-22-06 421.5 424.0 5,132 2.5 12,829
Including 421.5 422.5 12,560 1.0 12,560
Underground DDH
ZG-22-60 181.0 182.5 460 1.5 690
ZG-22-61 66.0 66.5 1,884 0.5 942
ZG-22-61 177.5 180.5 287 3.0 862
ZG-22-61 244.5 245.0 982 0.5 491
ZG-22-62 175.0 176.0 343 1.0 343
ZG-22-62 229.0 229.5 1,388 0.5 694
ZG-22-63 177.0 178.5 166 1.5 249
ZG-22-63 201.0 205.5 253 4.5 1,138
ZG-22-64 105.5 108.5 102 3.0 307
ZG-22-64 191.0 195.5 261 4.5 1,174
ZG-22-64 336.5 340.0 2,074 3.5 7,259
Including 337.0 339.0 3,535 2.0 7,070
ZG-22-64 361.5 363.0 203 1.5 304
ZG-22-64 370.5 380.0 233 9.5 2,209
Including 378.0 379.5 823 1.5 1,235
ZG-22-64 385.0 393.0 209 8.0 1,670
ZG-22-66 104.5 106.0 2,940 1.5 4,410
ZG-22-66 184.0 185.5 327 1.5 490
ZG-22-67 47.5 48.0 712 0.5 356
ZG-22-67 54.0 54.5 1,076 0.5 538
ZG-22-69 9.0 12.0 457 3.0 1,371
ZG-22-69 32.0 33.5 218 1.5 327
ZG-22-73 357.5 359.5 237 2.0 473
ZG-22-73 366.0 367.5 323 1.5 485
ZG-22-74 20.5 23.0 585 2.5 1,463
ZG-22-74 182.0 183.0 327 1.0 327
ZG-22-74 191.5 193.0 154 1.5 231
Underground T28
TD28-22-1950-254 16.8 19.2 105 2.4 252
TD28-22-1950-255 16.8 21.6 154 4.8 740
TD28-22-1950-259 0.0 2.4 341 2.4 818
TD28-22-1950-282 9.6 13.2 361 3.6 1,301
TD28-22-1950-283 3.6 14.4 149 10.8 1,610
TD28-22-1950-285 0.0 2.4 504 2.4 1,210
TD28-22-1950-298 6.0 7.2 474 1.2 569
TD28-22-1950-298 9.6 10.8 183 1.2 219
TD28-22-1950-298 16.8 18.0 270 1.2 324
TD28-22-1950-300 14.4 16.8 100 2.4 241
TD28-22-1950-301 9.6 15.6 231 6.0 1,389
TD28-22-1950-325 2.4 4.8 102 2.4 244
TD28-22-1950-326 21.6 24.0 418 2.4 1,004
TD28-22-1950-327 14.4 16.8 134 2.4 320
TD28-22-1950-328 14.4 26.4 277 12.0 3,318
TD28-22-1950-329 3.6 6.0 968 2.4 2,323
TD28-22-1950-330 4.8 7.2 254 2.4 611
TD28-22-1950-331 3.6 8.4 346 4.8 1,658
TD28-22-1950-331 16.8 21.6 1,993 4.8 9,568
TD28-22-1950-339 0.0 2.4 105 2.4 251
TD28-22-1968-345 16.8 24.0 466 7.2 3,352
TD28-22-1968-346 14.4 19.2 242 4.8 1,163
TD28-22-1968-378 9.6 12.0 178 2.4 427
TD28-22-1968-379 9.6 13.2 78 3.6 279
TD28-22-1975-101 0.0 2.4 143 2.4 343
TD28-22-2000-279 10.8 14.4 179 3.6 644
TD28-22-2000-286 1.2 2.4 217 1.2 260
TD28-22-2000-286 18.0 20.4 213 2.4 510
TD28-22-2000-287 18.0 21.6 288 3.6 1,035
TD28-22-2000-304 9.6 10.8 333 1.2 399
TD28-22-2000-305 16.8 26.4 5,691 9.6 54,631
Including 18.0 24.0 8,840 6.0 53,042
TD28-22-2000-306 1.2 3.6 105 2.4 252
TD28-22-2000-306 19.2 25.2 939 6.0 5,636
TD28-22-2000-307 2.4 18.0 1,972 15.6 30,770
Including 2.4 14.4 2,538 12.0 30,454
TD28-22-2000-307 21.6 22.8 174 1.2 209
TD28-22-2000-308 1.2 22.8 3,956 21.6 85,459
Including 3.6 18.0 5,792 14.4 83,403
TD28-22-2000-386 7.2 12.0 381 4.8 1,829
TD28-22-2000-389 3.6 4.8 169 1.2 202
TD28-22-2075-319 7.2 8.4 518 1.2 622
TD28-22-2075-319 18.0 22.8 151 4.8 726
TD28-22-2075-321 8.4 14.4 208 6.0 1,248
TD28-22-2075-321 18.0 26.4 127 8.4 1,068
TD28-22-2075-323 4.8 16.8 250 12.0 3,005
Including 10.8 13.2 541 2.4 1,299
TD28-22-2075-324 4.8 9.6 549 4.8 2,634
TD28-22-2075-349 3.6 10.8 846 7.2 6,091
TD28-22-2075-349 14.4 15.6 407 1.2 488
TD28-22-2075-350 7.2 9.6 138 2.4 331
TD28-22-2125-238 0.0 3.6 165 3.6 593
TD28-22-2125-242 3.6 7.2 598 3.6 2,151
TD28-22-2125-243 9.6 14.4 989 4.8 4,747
TD28-22-2125-245 13.2 15.6 491 2.4 1,178
Underground YACK
YAKD-22-1950-099 30.0 37.2 573 7.2 4,125
YAKD-22-1950-100 30.0 50.4 620 20.4 12,649
Including 31.2 37.2 1,588 6.0 9,526
YAKD-22-1950-101 32.4 33.6 285 1.2 341
YAKD-22-1950-101 38.4 40.8 109 2.4 262
YAKD-22-1950-103 13.2 15.6 275 2.4 661
YAKD-22-1950-103 20.4 24.0 126 3.6 454
YAKD-22-1950-106 31.2 38.4 337 7.2 2,429
YAKD-22-1950-110 7.2 9.6 694 2.4 1,664
YAKD-22-1950-127 44.4 46.8 85 2.4 205
YAKD-22-2075-074 2.4 7.2 703 4.8 3,374
YAKD-22-2075-078 8.4 15.6 654 7.2 4,712
YAKD-22-2075-079 8.4 12.0 818 3.6 2,944
YAKD-22-2075-086 0.0 3.6 1,415 3.6 5,092
YAKD-22-2075-086 43.2 45.6 117 2.4 281
YAKD-22-2075-086 50.4 52.8 136 2.4 327