Aya Gold & Silver Further Extends Zgounder Mineralisation East and at Depth to Granite Filing of NI 43-101 Technical Report on Zgounder
PRESS RELEASE
Aya Gold & Silver Further Extends Zgounder Mineralisation East and at Depth to
Granite
Filing of NI 43-101 Technical Report on Zgounder
Montreal, Quebec, January 28, 2022 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is
pleased to report high-grade silver results from the 2021 drill exploration program at the Zgounder Silver
Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
Extension of the mineralisation between the 2,125 and 2,130 levels with T28-21-2125-405 and
T28-21-2125-411:
o At the 2,125 meters (“m”) level, T28-21-2125-405 intercepted 4,579 grams per tonne (“g/t”) silver
(“Ag”) over 3.6m including
o 12,532 g/t Ag over 1.2m
o At the 2,130m level, T28-21-2125-411 intercepted 1,225 g/t Ag over 4.8m including
o 3,280 g/t Ag over 1.2m
o Near-surface continuity below current mine galleries with T28-21-1988-275, which intercepted
1,564 g/t Ag over 3.6m including
o 4,040 g/t Ag over 1.2m
o Expansion of eastern strike with ZG-21-60, which intercepted 3,551 g/t Ag over 1.5m including
o 1,214 g/t Ag over 4.0m
Five holes were drilled at depth to the granite contact. All five holes were mineralized, with ZG-21-
62 intersecting 663 g/t Ag over 8.5m including
o 3,060 g/t Ag over 1.0m
o 1,274 g/t Ag over 1.0m
This is in addition to 1,670 g/t Ag over 3.0m including 9,005 g/t Ag over 0.5m and 1,041 g/t Ag over
2.0m including 3,186 g/t Ag over 0.5m
o Validation of the vertical continuity by ZG-SF-21-97 which generated 2,405 g/t Ag over 2m
including
o 279 g/t Ag over 6.5m
“Today’s drill results from the 2021 diamond drill program further extend near-mine mineralisation on
strike and down dip, in addition to confirming robust grades and thicknesses within the existing mineral
resources. Notably, all of the drill holes completed to the granite contact hit significant high-grade
intercepts, which will grow our resource further. The upcoming maiden reserve estimate, combined with
the launch of the 2022 drill exploration program, are significant milestones towards our Zgounder Mine
expansion,” said Benoit La Salle, President & CEO.
Included in this release are results for 56 diamond drill holes (“DDH”), which include 11 DDH from surface
and 45 underground holes including 24 electric percussion holes. For a full summary of today’s results
from the 2021 drill program, refer to Appendix 1 for surface results and Appendix 2 for underground
results.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
Hole No. From (m) To (m) Length1 (m) Ag2 (g/t)
Surface
ZG-21-60 19.50 25.50 6.00 136
70.50 72.00 1.50 3,551
157.50 161.50 4.00 1,214
ZG-21-62 151.50 154.50 3.00 1,670
Including 0.50 9,005
159.00 161.00 2.00 1,041
Including 0.50 3,186
308.50 310.00 1.50 84
356.00 358.50 2.50 365
361.00 362.50 1.50 87
365.00 368.50 3.50 107
374.50 383.00 8.50 663
Including 1.00 3,060
Including 1.00 1,274
387.50 391.50 4.00 378
Underground
ZG-SF-21-86 2.00 3.00 1.00 680
13.50 14.50 1.00 839
20.00 21.00 1.00 76
42.00 45.50 3.50 1,171
74.00 75.50 1.50 128
ZG-SF-21-89 12.00 14.00 2.00 838
36.00 37.50 1.50 76
110.00 114.50 4.50 229
117.00 120.00 3.00 334
196.50 198.00 1.50 144
217.50 219.50 2.00 923
287.50 288.50 1.00 2,295
ZG-SF-21-91 73.00 74.00 1.00 2,493
81.50 82.50 1.00 148
ZG-SF-21-95 10.50 11.50 1.00 504
77.00 79.00 2.00 1,332
ZG-SF-21-97 33.00 35.00 2.00 2,405
46.50 53.00 6.50 279
ZG-SF-21-103 11.50 13.50 2.00 1,478
39.00 40.50 1.50 200
ZG-SF-21-109 4.50 9.00 4.50 214
15.00 19.00 4.00 1,466
Including 0.50 5,001
including 1.00 1,664
T28-21-2125-405 20.40 24.00 3.60 4,579
including 1.20 12,532
T28-21-2125-411 0.00 4.80 4.80 1,225
Including 1.20 3,280
19.20 20.40 1.20 208
T28-21-2125-424bis 1.20 2.40 1.20 94
6.00 9.60 3.60 1,156
Including 1.20 2,971
T28-21-1988-275 3.60 7.20 3.60 1,564
Including 1.20 4,040
18.00 19.20 1.20 315
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 from Surface and Underground Drilling as per
Appendixes 1 & 2
Filing of NI 43-101 Report
The Corporation has also filed on SEDAR an independent technical report prepared in accordance with
National Instrument 43-101 for the Zgounder Silver Mine. There are no differences between the technical
report and the information disclosed in the December 14, 2021 news release. In addition to SEDAR, the
report can be found on the Corporation’s website (www.ayagoldsilver.com).
Quality Assurance
For core drilling, all individual samples repr esent approximately one meter in length of core, which is
halved (1.2m length for T28 percussion samples) . 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 in
Marrakech, Morocco. All samples are analysed for silver, coppe r, iron, lead, and zinc using Aqua regia
and finished by atomic absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are
reanalysed using fire assaying.
Marc-Antoine Audet, Ph.D. P. Geo, Geological Consultant, 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 w hich 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”, “continuity”, “potential”, “continue”, “expand”, “potential”,
“plans”, “expects”, “believe”, “intend”, 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 exp loration 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 experience, current conditions, and its expectations of
future developments that management believe to be reaso nable 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 exe cution 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 2020 Annual Information Form dated March 31, 2021, and in other filings of Aya with
securities and regulatory autho rities 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 Surface Drilling at Zgounder (core lengths)
Hole No. From
(m)
To
(m)
Length1
(m)
Ag2
(g/t)
ZG-21-60 19.50 25.50 6.00 136
70.50 72.00 1.50 3,551
157.50 161.50 4.00 1,214
ZG-21-62 151.50 154.50 3.00 1,670
including 0.50 9,005
159.00 161.00 2.00 1,041
including 0.50 3,186
308.50 310.00 1.50 84
356.00 358.50 2.50 365
361.00 362.50 1.50 87
365.00 368.50 3.50 107
374.50 383.00 8.50 663
including 1.00 3,060
including 1.00 1,274
387.50 391.50 4.00 378
ZG-21-63 40.00 41.00 1.00 562
ZG-21-66 9.00 10.50 1.50 108
16.50 19.50 3.00 170
ZG-21-67 6.00 7.50 1.50 76
34.50 36.00 1.50 116
43.50 45.00 1.50 516
ZG-21-68 20.50 22.00 1.50 85
29.50 33.00 3.50 180
141.00 144.00 3.00 162
254.00 257.00 3.00 235
324.50 328.00 3.50 817
ZG-21-70 3.00 6.00 3.00 80
24.00 27.00 3.00 48
ZG-21-73 1.00 2.50 1.50 166
ZG-21-74 1.50 3.00 1.50 936
37.50 39.00 1.50 88
59.50 62.50 3.00 82
351.00 352.50 1.50 100
403.50 409.50 6.00 142
441.50 442.00 0.50 361
446.00 448.00 2.00 965
501.00 508.50 7.50 91
513.00 513.50 0.50 80
518.00 525.50 7.50 87
ZG-21-76 82.00 83.00 1.00 440
86.00 87.50 1.50 216
108.00 109.00 1.00 168
ZG-21-79 12.00 16.50 4.50 156
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.
Appendix 2 - Mineral Intercepts from Underground Drilling at Zgounder (core lengths)
Hole No. From
(m)
To
(m)
Length1
(m)
Ag2
(g/t)
ZG-SF-21-79 37.00 38.00 1.00 181
47.50 48.00 0.50 116
55.00 56.50 1.50 220
59.50 61.50 2.00 155
ZG-SF-21-80
16.50 18.00 1.50 120
46.00 47.50 1.50 281
168.50 172.50 4.00 591
ZG-SF-21-81 21.50 23.00 1.50 160
ZG-SF-21-82 50.00 52.50 2.50 388
ZG-SF-21-84 28.00 30.50 2.50 666
ZG-SF-21-86
2.00 3.00 1.00 680
13.50 14.50 1.00 839
20.00 21.00 1.00 76
42.00 45.50 3.50 1,171
74.00 75.50 1.50 128
ZG-SF-21-89
12.00 14.00 2.00 838
36.00 37.50 1.50 76
110.00 114.50 4.50 229
117.00 120.00 3.00 334
196.50 198.00 1.50 144
217.50 219.50 2.00 923
287.50 288.50 1.00 2,295
ZG-SF-21-91
73.00 74.00 1.00 2,493
81.50 82.50 1.00 148
ZG-SF-21-93
21.00 22.50 1.50 80
30.00 31.00 1.00 76
42.00 44.00 2.00 90
55.50 56.00 0.50 160
60.00 60.50 0.50 76
ZG-SF-21-94
20.50 21.00 0.50 484
28.00 30.00 2.00 105
47.50 50.50 3.00 929
ZG-SF-21-95
10.50 11.50 1.00 504
77.00 79.00 2.00 1,332
ZG-SF-21-96bis
36.00 45.00 9.00 411
48.00 54.00 6.00 159
ZG-SF-21-97
33.00 35.00 2.00 2,405
46.50 53.00 6.50 279
ZG-SF-21-99
54.00 55.50 1.50 80
70.50 73.50 3.00 332
79.50 85.50 6.00 160
ZG-SF-21-101 50.00 51.00 1.00 316
81.00 86.00 5.00 318
90.50 92.00 1.50 124
ZG-SF-21-102 42.00 42.50 0.50 152
68.00 69.00 1.00 376
ZG-SF-21-103 11.50 13.50 2.00 1,478
39.00 40.50 1.50 200
ZG-SF-21-104 61.00 62.50 1.50 80
ZG-SF-21-105 14.00 15.50 1.50 96
44.00 45.50 1.50 145
53.00 54.50 1.50 128
61.50 64.50 3.00 96
ZG-SF-21-106 25.50 28.00 2.50 611
ZG-SF-21-109 4.50 9.00 4.50 214