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, February 28, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce additional drill results, confirming the extension of 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 DZG-SF-22-176 intercepted 4,980 grams per tonne (“g/t”) silver (“Ag”) over 7.5
meters (“m”), including 9,234 g/t Ag over 4.0m.
o At the central zone just below the 2,000m level confirming the high-grade zone from the December
21, 2022 update,
o hole TD28-22-2000-401 intercepted 2,035 g/t Ag over 10.8m including
▪ 3,502 g/t Ag over 6.0m
o hole TD28-22-2000-403 intercepted 1,081 g/t Ag over 13.2m including
▪ 5,275 g/t Ag over 2.4m
o At the central zone just above the 1,950m level,
o hole TD28-22-1950-416 intercepted 3,998 g/t Ag over 6.0m
o From surface in the central area , hole ZG-DCD-22-07 intersected 846 g/t Ag over 9.5m,
confirming high-grade mineralization at depth toward the contact with the granite.
o Launch of the deeper drilling campaign at Zgounder deposit with two rigs at surface and one rig
underground
“Today’s drilling results grow the mineralized footprint of the Zgounder deposit with intercepts such as
ZG-DCD-22-07 continuing to deliver high-grade intersections outside of the current resource envelope,”
said Benoit La Salle, President & CEO. “ We are encouraged by these results, which together with previous
surface intercepts ZG-DCD-22-06 and ZG-22-64, expand the down-plunge potential of the mineralized
system toward the granite.”
Included in this release are results for 92 holes, which include 3 surface diamond drill hole (“DDH”), 20
underground DDH, 38 T28 and 31 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 Length
(m)*
Ag x
width (g/t)
Surface DDH
ZG-DCD-22-07 196.0 205.5 846 9.5 8,041
Underground DDH
DZG-SF-22-176 16.0 23.5 4980 7.5 37,348
including 16.5 20.5 9234 4.0 36,936
Underground T28
TD28-22-1950-413 7.2 16.8 776 9.6 7,445
TD28-22-1950-416 15.6 21.6 3998 6.0 23,986
TD28-22-1950-417 4.8 19.2 600 14.4 8,634
including 4.8 9.6 1551 4.8 7,444
TD28-22-2000-401 13.2 24.0 2035 10.8 21,976
including 14.4 20.4 3502 6.0 21,014
TD28-22-2000-403 13.2 26.4 1081 13.2 14,264
including 16.8 19.2 5275 2.4 12,659
TD28-22-2075-384 18.0 21.6 1961 3.6 7,061
Underground YACK
YAKD-22-1950-137 18.0 30.0 462 12.0 5,545
YAKD-22-1950-141 16.8 24.0 727 7.2 5,235
YAKD-22-1950-142 0.0 7.2 3061 7.2 22,036
YAKD-22-1950-142 26.4 50.4 479 24.0 11,491
YAKD-22-1950-144 37.2 50.4 1286 13.2 16,980
YAKD-22-1950-146 0.0 7.2 2630 7.2 18,935
including 4.8 6.0 14416 1.2 17,299
YAKD-22-1950-147 0.0 4.8 2343 4.8 11,245
YAKD-23-2030-160 44.4 50.4 884 6.0 5,302
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 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 exploration activities) and ot her opportunities.
Wherever possible, words such as “confirm”, “de-risk”, “grow”, “expect”, “demonstrate”, “continuity”,
“potential”, “continue”, “expand”, “seems”, and similar expressions or statements that certain actions,
events or results “may”, “could”, “wou ld”, “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 forwar d-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 t o 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 risk s 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 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 c hange. 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 Length
(m)*
Ag x
width (g/t)
Surface DDH
ZG-22-68 226.5 228.5 1014 2.0 2,028
ZG-22-69 96.5 97.5 1104 1.0 1,104
ZG-22-69 100.5 104.0 183 3.5 640
ZG-DCD-22-07 196.0 205.5 846 9.5 8,041
ZG-DCD-22-07 250.5 253.5 301 3.0 903
ZG-DCD-22-07 270.5 276.0 384 5.5 2,114
Underground DDH
DZG-SF-22-123 3.0 4.0 76 1.0 76
DZG-SF-22-123 3.0 5.0 80 2.0 159
DZG-SF-22-125 31.5 36.0 229 4.5 1,032
DZG-SF-22-125 44.5 46.0 96 1.5 144
DZG-SF-22-125 49.0 53.5 325 4.5 1,461
DZG-SF-22-138 131.0 132.5 434 1.5 651
DZG-SF-22-138 137.0 138.5 144 1.5 216
DZG-SF-22-139 4.5 6.0 80 1.5 120
DZG-SF-22-139 7.5 9.0 143 1.5 214
DZG-SF-22-139 132.5 134.5 515 2.0 1,029
DZG-SF-22-141 3.5 4.5 732 1.0 732
DZG-SF-22-141 68.5 70.0 119 1.5 179
DZG-SF-22-141 77.5 80.5 258 3.0 773
DZG-SF-22-143 51.5 52.0 110 0.5 55
DZG-SF-22-143 54.0 55.5 126 1.5 189
DZG-SF-22-144 11.5 21.5 390 10.0 3,897
including 17.0 19.5 976 2.5 2,441
DZG-SF-22-144 64.0 68.5 2192 4.5 9,864
DZG-SF-22-145 17.5 20.0 483 2.5 1,207
DZG-SF-22-145 27.5 29.0 100 1.5 151
DZG-SF-22-145 64.5 74.0 393 9.5 3,734
including 64.5 67.0 978 2.5 2,444
DZG-SF-22-146 75.0 76.0 110 1.0 110
DZG-SF-22-147 37.5 39.0 92 1.5 137
DZG-SF-22-148 13.0 14.0 206 1.0 206
DZG-SF-22-148 20.5 22.5 407 2.0 814
DZG-SF-22-148 63.0 63.5 143 0.5 72
DZG-SF-22-149 18.0 19.0 1319 1.0 1,319
DZG-SF-22-149 21.0 22.0 83 1.0 83
DZG-SF-22-149 29.5 30.5 126 1.0 126
DZG-SF-22-149 55.0 56.5 104 1.5 156
DZG-SF-22-149 61.5 63.0 167 1.5 250
DZG-SF-22-151 128.0 129.5 266 1.5 398
DZG-SF-22-168 18.0 20.5 972 2.5 2,429
DZG-SF-22-173 17.0 17.5 122 0.5 61
DZG-SF-22-173 58.5 60.0 486 1.5 729
DZG-SF-22-173 87.0 88.5 230 1.5 345
DZG-SF-22-176 16.0 23.5 4980 7.5 37,348
including 16.5 20.5 9234 4.0 36,936
DZG-SF-22-176 53.0 54.5 271 1.5 406
DZG-SF-22-179 63.0 64.5 414 1.5 621
DZG-SF-22-183 0.5 5.5 964 5.0 4,819
including 3.0 4.5 2790 1.5 4,185
DZG-SF-22-184 12.0 13.5 718 1.5 1,077
DZG-SF-22-184 17.5 20.5 218 3.0 653
DZG-SF-22-184 29.5 30.0 346 0.5 173
DZG-SF-22-184 51.0 51.5 164 0.5 82
DZG-SF-22-184 66.0 66.5 564 0.5 282
DZG-SF-22-184 72.0 74.0 576 2.0 1,152
Underground T28
TD28-22-1950-409 13.2 18.0 385 4.8 1,846
TD28-22-1950-410 8.4 13.2 103 4.8 492
TD28-22-1950-412 1.2 2.4 87 1.2 104
TD28-22-1950-413 7.2 16.8 776 9.6 7,445
including 12.0 14.4 1906 2.4 4,574
TD28-22-1950-414 6.0 7.2 236 1.2 283
TD28-22-1950-414 10.8 12.0 90 1.2 108
TD28-22-1950-415 2.4 4.8 132 2.4 316
TD28-22-1950-416 2.4 3.6 1226 1.2 1,471
TD28-22-1950-416 15.6 21.6 3998 6.0 23,986
TD28-22-1950-417 4.8 19.2 600 14.4 8,634
including 4.8 9.6 1551 4.8 7,444
TD28-22-1950-424 18.0 19.2 475 1.2 570
TD28-22-1950-426 13.2 14.4 151 1.2 181
TD28-22-2000-398 9.6 13.2 493 3.6 1,774
TD28-22-2000-399 9.6 14.4 98 4.8 471
TD28-22-2000-401 2.4 3.6 80 1.2 96
TD28-22-2000-401 13.2 24.0 2035 10.8 21,976
including 14.4 20.4 3502 6.0 21,014
TD28-22-2000-403 13.2 26.4 1081 13.2 14,264
including 16.8 19.2 5275 2.4 12,659
TD28-22-2000-405 20.4 21.6 88 1.2 105
TD28-22-2000-406 20.4 26.4 295 6.0 1,772
TD28-22-2000-407 7.2 8.4 148 1.2 178
TD28-22-2000-408 9.6 18.0 220 8.4 1,850
TD28-22-2075-374 0.0 2.4 216 2.4 517
TD28-22-2075-384 18.0 21.6 1961 3.6 7,061
TD28-22-2075-428 7.2 8.4 242 1.2 290
TD28-22-2075-429 0.0 1.2 167 1.2 200
TD28-22-2075-431 9.6 12.0 180 2.4 431
TD28-22-2075-434 0.0 21.6 217 21.6 4,676
TD28-22-2075-435 8.4 9.6 143 1.2 171
TD28-22-2075-438 9.6 10.8 242 1.2 290
TD28-22-2075-444 19.2 25.2 107 6.0 640
TD28-22-2075-448 3.6 4.8 1249 1.2 1,499
TD28-22-2075-448 6.0 7.2 93 1.2 112
TD28-22-2075-448 16.8 19.2 137 2.4 328
TD28-22-2075-449 2.4 3.6 485 1.2 582
TD28-23-1975-458 0.0 1.2 655 1.2 785
TD28-23-1975-459 7.2 9.6 628 2.4 1,506
TD28-23-1975-459 20.4 22.8 101 2.4 242
TD28-23-1975-480 19.2 22.8 203 3.6 730
TD28-23-1975-481 0.0 10.8 256 10.8 2,770
TD28-23-2075-463 3.6 6.0 273 2.4 ,655
TD28-23-2075-465 22.8 24.0 107 1.2 128
TD28-23-2075-468 1.2 4.8 485 3.6 1,746
TD28-23-2075-469 0.0 3.6 275 3.6 989
TD28-23-2125-478 0.0 1.2 87 1.2 104
Underground YACK
YAKD-22-1950-102 32.4 34.8 216 2.4 519
YAKD-22-1950-102 48.0 50.4 344 2.4 826
YAKD-22-1950-104 38.4 40.8 340 2.4 816
YAKD-22-1950-108 0.0 2.4 157 2.4 376
YAKD-22-1950-108 26.4 27.6 175 1.2 210
YAKD-22-1950-109 0.0 2.4 170 2.4 409
YAKD-22-1950-111 14.4 15.6 240 1.2 287
YAKD-22-1950-114 22.8 24.0 108 1.2 130
YAKD-22-1950-114 28.8 30.0 102 1.2 123
YAKD-22-1950-116 10.8 13.2 464 2.4 1,114
YAKD-22-1950-120 13.2 14.4 134 1.2 161
YAKD-22-1950-130 6.0 7.2 90 1.2 108
YAKD-22-1950-132 19.2 24.0 136 4.8 651
YAKD-22-1950-133 25.2 26.4 93 1.2 112
YAKD-22-1950-133 46.8 48.0 170 1.2 204
YAKD-22-1950-135 18.0 19.2 1822 1.2 2,186
YAKD-22-1950-136 16.8 19.2 784 2.4 1,882
YAKD-22-1950-136 21.6 22.8 107 1.2 128
YAKD-22-1950-136 43.2 46.8 96 3.6 346
YAKD-22-1950-137 18.0 30.0 462 12.0 5,545
YAKD-22-1950-137 40.8 45.6 351 4.8 1,682
YAKD-22-1950-139 9.6 12.0 207 2.4 496
YAKD-22-1950-140 19.2 21.6 82 2.4 196
YAKD-22-1950-140 26.4 27.6 76 1.2 91
YAKD-22-1950-140 38.4 42.0 412 3.6 1,483
YAKD-22-1950-141 16.8 24.0 727 7.2 5,235
including 16.8 20.4 1361 3.6 4,898
YAKD-22-1950-141 25.2 26.4 112 1.2 134
YAKD-22-1950-142 0.0 7.2 3061 7.2 22,036
YAKD-22-1950-142 19.2 21.6 194 2.4 466
YAKD-22-1950-142 26.4 50.4 479 24.0 11,491
YAKD-22-1950-144 18.0 19.2 83 1.2 99
YAKD-22-1950-144 37.2 50.4 1286 13.2 16,980
YAKD-22-1950-146 0.0 7.2 2630 7.2 18,935
including 4.8 6.0 14416 1.2 17,299
YAKD-22-1950-146 25.2 28.8 263 3.6 947
YAKD-22-1950-147 0.0 4.8 2343 4.8 11,245
YAKD-22-1950-147 27.6 31.2 159 3.6 571
YAKD-22-1950-147 50.4 51.6 593 1.2 711
YAKD-22-1950-148 0.0 4.8 377 4.8 1,808
YAKD-22-1950-148 26.4 27.6 177 1.2 212
YAKD-22-1950-148 42.0 43.2 84 1.2 101
YAKD-22-1950-148 51.6 54.0 1627 2.4 3,904
YAKD-23-1975-154 2.4 3.6 77 1.2 92