Aya Gold & Silver Extends Main Zone to 5km and Adds 7 New Permits at Boumadine
PRESS RELEASE
Aya Gold & Silver Extends Main Zone to 5km and
Adds 7 New Permits at Boumadine
Montreal, Quebec, May 13, 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 800m and continues to demonstrate continuity of the Boumadine Main Zone, which
remains open in all directions. The Corporation also reports it has secured the right to 7 additional
exploration permits, expanding the Boumadine exploration footprint to over 198 square kilometers
(“km2”).
Key Highlights1
• Extension of Boumadine strike length to 5 kilometers (“km”):
• BOU-DD23-265 intersected 1,355 grams per tonne (“g/t”) silver equivalent (“AgEq”) over
3.1 m ( 16.25 g/t gold (“ Au”), 86 g/t silver (“ Ag”), 0.1% zinc (“ Zn”), 0.1% lead (“ Pb”) and
0.1% copper (“Cu”) and 442 g/t AgEq over 8.0m (4.51 g/t Au, 58 g/t Ag, 0.3% Zn, 0.2% Pb
and 0.2% Cu)
• BOU-DD24-292 intersected 354 g/t AgEq over 2.9m ( 4.06 g/t Au, 27 g/t Ag, 0.4% Zn,
0.1% Pb and 0.03% Cu)
• BOU-DD24-284 intersected 1,317 g/t AgEq over 1.9m ( 15.70 g/t Au, 91 g/t Ag, 0.05% Zn,
0.1% Pb and 0.2% Cu)
• Extension of the Tizi strike length to 1.6km:
• BOU-DD24-310 intersected 445 g /t AgEq over 13.7m (4.90 g/t Au, 42 g/t Ag, 0.3% Zn,
0.4% Pb and 0.1% Cu), including 1.6m at 1,988 g/t AgEq and 1.5m at 813 g/t AgEq
• BOU-DD24-306 intersected 1,021 g/t AgEq over 3.0m ( 11.48 g/t Au, 89 g/t Ag, 0.8% Zn,
0.2% Pb and 0.2% Cu) including 1.5m at 1,755 g/t AgEq
• New style of mineralization with very high silver grade:
• BOU-DD24-310 intersected 7,820 g/t Ag over 1.0m
• Secured 7 new exploration permits totaling 56.9 km² at Boumadine (Figure 1)
“Today’s high -grade drill results including BOU -DD23-265 in the north of the Main Trend extend the
Boumadine footprint to 5km, and BOU-DD23-310 at Tizi confirms the potential to increase the resource,”
said Benoit La Salle, President & CEO. “We are excited to expand our presence further at Boumadine
through the strategic addition of 7 new permits, as part of our ongoing strategy to grow our land package
and underscoring our confidence in the region's mineral potential. With an area of almost 200km 2 in
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
on 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; 1% Zn: 28.1 g/t Ag.
what we consider to be a generational asset and a potential district, we are in position to deliver value
for all stakeholders.”
Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)
DDH No. Section Zone From
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag
Eq**
(g/t)
BOU-DD23-254 7650N Para 402.3 403.7 9.41 28 1.4 0.2 0.1 0.1 1 772
BOU-DD23-256 5400N Main 149.8 159.4 1.06 134 9.6 0.0 0.2 1.3 4 257
BOU-DD23-256 5400N Para 179.3 186.4 1.42 136 7.1 0.0 1.9 2.3 6 363
BOU-DD23-265 8850N Para 314.0 323.0 3.91 24 9.0 0.0 0.2 0.2 0 338
Including 314.0 318.8 6.76 36 4.8 0.1 0.1 0.2 0 569
BOU-DD23-265 8850N Main 338.0 341.1 16.25 86 3.1 0.1 0.1 0.1 0 1,355
BOU-DD23-265 8850N Para 366.0 374.0 4.51 58 8.0 0.2 0.2 0.3 0 442
Including 369.7 372.3 12.17 160 2.6 0.7 0.3 0.5 0 1,186
BOU-DD24-284 9950N Imarriren 439.7 441.6 15.70 91 1.9 0.2 0.1 0.05 4 1,317
BOU-DD24-288 9950N Para 459.7 461.6 2.19 81 1.9 0.1 0.1 2.9 2 344
BOU-DD24-289 9950N Main 497.0 500.3 3.71 44 3.3 0.0 0.1 0.1 1 336
Including 497.0 499.7 4.37 49 2.7 0.0 0.1 0.1 1 393
BOU-DD24-292 9950N Main 679.4 682.3 4.06 27 2.9 0.03 0.1 0.4 3 354
BOU-DD24-295 10150N Para 325.0 330.3 1.59 49 5.3 0.1 0.5 0.6 2 210
BOU-DD24-296 3477900N Tizi 154.0 158.2 2.79 50 4.2 0.1 0.1 0.3 7 289
BOU-DD24-298 10150N Para 370.0 373.0 1.85 37 3.0 0.1 0.6 1.5 5 245
BOU-DD24-302 10150N Main 572.6 573.9 3.65 112 1.3 0.2 0.1 2.3 4 478
BOU-DD24-306 3478100N Tizi 314.1 317.1 11.48 89 3.0 0.2 0.2 0.8 3 1,021
Including 314.1 315.6 20.05 133 1.5 0.4 0.2 1.4 2 1,755
BOU-DD24-308 3477500N Tizi 102.6 104.3 2.64 62 1.7 0.4 0.9 1.3 16 369
BOU-DD24-310 3477500N Tizi 58.0 71.7 4.90 42 13.7 0.1 0.4 0.3 9 445
Including 58.0 59.6 23.34 148 1.6 0.2 0.4 0.5 17 1,988
Including 70.2 71.7 9.47 62 1.5 0.1 0.2 0.1 4 813
BOU-DD24-310 3477500N E-W Vein 281.4 282.4 0.08 7,820 1.0 0.2 5.5 1.5 7 8,036
* 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 of 85%, and a copper
price of US$4.00/lb with a process recovery of 75% resulting on 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; 1% Zn: 28.1 g/t Ag.
Figure 1 – Location of New Boumadine Permits
Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2024
Drill Holes
2024 Exploration Results
This year, 60 diamond drill holes (“DDH”) for 27,122m have been completed at Boumadine (Figure 2 and
Appendix 2). Drilling was conducted on strike along the Main Trend (North Zones), Tizi and North-West
Zones. The majority of results have been received for drill holes up to BOU-DD23-310 (Table 1, Figure 4,
and Appendix 1).
Results received since January 2024 including hole BOU-DD24-292 confirm the high-grade continuity of
the Main Trend and extend the mineralized strike length to 5km. The Main Trend remains open in all
directions. Today’s results also significantly extend th e strike length of the Tizi Zone from 600m to
1.6km. The Tizi Zone also remains open in all directions.
Hole BOU-DD24-310 returned high-grade silver results including 7,820 g/t Ag over 1.0m in a small East-
West structure. This new structure is a brecciated carbonate -quartz-galena vein with low temperature
texture (blades, crustiform and colloform). Because the drilling was planned for Tizi, the East -West
structure was intersected at a very low core-angle. True thickness is still unknown but is probably less
than 0.2m. This type of vein will be better targeted with a specific “East-West” drill program.
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 3 presents
the results of the Boumadine Main Zone on a longitudinal section along the deposit.
Figure 3 – Longitudinal View of Boumadine Main Zone
Figure 4 – Surface Plan of North & Tizi Zones with New 2024 DDH Results
Next Steps
Significant upside potential exists to expand the Boumadine Main Trend, which currently extends 5.0km
and remains open in all directions. Currently, the Corporation has mobilized seven 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 informed
by the ongoin g hyperspectral and high -resolution geophysical surveys. Hyperspectral and the
geophysical surveys began in early 2024 and results are expected in late Q2 -2024. 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 , 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 Moro ccan 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, 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 “confirm”, “remains”, “confidence”, “potential”, “complete”, “expect”
“extend”, “expand”, “belief”, 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 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 o btain any
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.
Appendix 1 – Full Drill Results from Boumadine (core lengths)
DDH No. Section Zone From
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag Eq**
(g/t)
BOU-DD23-253 7650N Para 489.8 495.7 0.66 25 5.9 0.0 0.2 0.5 2 99
BOU-DD23-254 7650N Para 402.3 403.7 9.41 28 1.4 0.2 0.1 0.1 1 772
BOU-DD23-254 7650N Para 407.5 408.5 3.63 1 1.0 0.0 0.1 0.6 1 301
BOU-DD23-255 5800N NSR 0.0 211.7 0.00 0 211.7 0.0 0.0 0.0 0 0
BOU-DD23-256 5400N Main 149.8 159.4 1.06 134 9.6 0.0 0.2 1.3 4 257
BOU-DD23-256 5400N Para 179.3 186.4 1.42 136 7.1 0.0 1.9 2.3 6 363
BOU-DD23-256 5400N Para 253.8 254.8 0.22 24 1.0 0.0 0.1 0.2 1 48
BOU-DD23-256 5400N Para 278.6 279.2 0.15 32 0.6 0.0 1.7 3.0 13 175
BOU-DD23-256 5400N Para 337.0 337.5 0.33 28 0.5 0.0 0.4 0.4 88 79
BOU-DD23-257 3476025N NSR 0.0 211.0 0.00 0 211.0 0.0 0.0 0.0 0 0
BOU-DD23-258 3476025N Tizi 184.1 185.1 0.46 4 1.0 0.0 0.0 0.0 2 41
BOU-DD23-258 3476025N Tizi 208.2 209.8 1.29 26 1.6 0.0 0.0 0.0 3 128
BOU-DD23-258 3476025N Tizi 220.3 221.0 0.46 4 0.7 0.0 0.0 0.0 13 43
BOU-DD23-259 NE 286.3 287.3 0.23 56 1.0 0.0 0.3 0.0 0 83
BOU-DD23-260 NW2 NSR 0.0 204.2 0.00 0 204.2 0.0 0.0 0.0 0 0
BOU-DD23-261 3476025N NSR 0.0 150.5 0.00 0 150.5 0.0 0.0 0.0 0 0
BOU-DD23-262 NW2 NSR 0.0 366.2 0.00 0 366.2 0.0 0.0 0.0 0 0
BOU-DD23-263 NE NSR 0.0 427.1 0.00 0 427.1 0.0 0.0 0.0 0 0
BOU-DD23-264 NE NSR 0.0 564.1 0.00 0 564.1 0.0 0.0 0.0 0 0
BOU-DD23-265 8850N Para 300.0 301.0 0.43 8 1.0 0.0 0.7 0.8 0 84
BOU-DD23-265 8850N Para 310.0 312.0 0.59 8 2.0 0.0 0.5 0.2 0 75
BOU-DD23-265 8850N Para 314.0 323.0 3.91 24 9.0 0.0 0.2 0.2 0 338
Including 314.0 318.8 6.76 36 4.8 0.1 0.1 0.2 0 569
BOU-DD23-265 8850N Para 324.0 325.0 0.57 12 1.0 0.0 0.1 0.1 0 62
BOU-DD23-265 8850N Para 326.0 327.0 0.43 12 1.0 0.0 0.1 0.5 0 62
BOU-DD23-265 8850N Para 327.5 329.0 1.93 16 1.5 0.0 0.5 0.6 0 198
BOU-DD23-265 8850N Main 338.0 341.1 16.25 86 3.1 0.1 0.1 0.1 0 1,355
BOU-DD23-265 8850N Para 350.8 351.4 4.43 28 0.6 0.1 0.1 0.7 0 397
BOU-DD23-265 8850N Para 366.0 374.0 4.51 58 8.0 0.2 0.2 0.3 0 442
Including 369.7 372.3 12.17 160 2.6 0.7 0.3 0.5 0 1,186
BOU-DD23-265 8850N Para 412.0 413.0 0.51 12 1.0 0.0 0.2 0.4 0 70
BOU-DD23-266 3476025N NSR 0.0 162.0 0.00 0 162.0 0.0 0.0 0.0 0 0
BOU-DD23-267 NW3 NSR 0.0 219.7 0.00 0 219.7 0.0 0.0 0.0 0 0
BOU-DD23-268 3476025N NSR 0.0 159.3 0.00 0 159.3 0.0 0.0 0.0 0 0
BOU-DD23-269 3476025N Tizi 144.1 145.0 0.33 12 0.9 0.0 0.0 0.0 3 39
BOU-DD23-269 3476025N Tizi 145.9 146.9 0.34 12 1.0 0.0 0.0 0.0 11 40
BOU-DD23-269 3476025N Tizi 155.9 157.3 0.29 20 1.4 0.0 0.0 0.0 4 44
BOU-DD23-270 9150N Para 400.6 401.4 0.49 16 0.8 0.2 0.1 0.1 1 75
BOU-DD23-270 9150N Para 470.6 473.6 0.45 17 3.0 0.0 0.3 0.7 2 80
BOU-DD23-270 9150N Para 490.1 491.1 1.13 1 1.0 0.0 0.1 0.3 1 100
BOU-DD23-270 9150N Main 503.8 504.6 2.12 20 0.8 0.1 0.1 0.2 1 199
BOU-DD23-270 9150N Para 506.6 507.6 0.60 12 1.0 0.0 0.1 0.1 5 66
BOU-DD23-270 9150N Para 577.7 578.7 1.44 12 1.0 0.0 0.1 0.1 2 127
BOU-DD23-270 9150N Para 589.9 590.7 0.47 4 0.8 0.1 0.0 0.1 1 49
BOU-DD23-270 9150N Para 593.4 593.9 0.58 12 0.5 0.0 0.1 0.1 3 64
BOU-DD23-270 9150N Para 662.8 663.4 0.44 24 0.6 0.0 0.4 0.4 1 80
BOU-DD23-271 NW2 NSR 0.0 498.2 0.00 0 498.2 0.0 0.0 0.0 0 0
BOU-DD23-272 3477750N Tizi 63.5 65.7 0.94 17 2.2 0.0 0.1 0.3 1 102
BOU-DD23-272 3477750N Tizi 86.7 89.0 0.42 26 2.3 0.0 1.5 1.9 1 153