Aya Gold & Silver Provides Exploration Update Including Drilling On Zgounder Regional Properties and Campaign Extension at Boumadine
PRESS RELEASE
Aya Gold & Silver Provides Exploration Update Including Drilling On Zgounder
Regional Properties and Campaign Extension at Boumadine
Montreal, Quebec, November 1, 2022 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce the launch of its 7,500-meter drill exploration program at
Zgounder Regional in the Kingdom of Morocco. Additionally, the Corporation is accelerating exploration
at Boumadine through an additional 4,000-meter drilling campaign.
Highlights
Zgounder Regional
• Receipt of final data from the airborne geophysics survey (magnetic, VTEM and radiometric)
• Identification of five target areas with silver, copper, and gold showings
• Mobilization of three drills on Zgounder Regional as part of its 7,500-meter (“m”) scheduled diamond
drill hole (“DDH”) exploration program
• Results from August 2022 stream sediment survey are expected shortly
Boumadine
• An additional 4,000m have been added to the 2022 DDH program which now totals 17,500m to
explore strike length extensions and the Central zone at depth
• Receipt of final data for the airborne geophysics survey (magnetic, VTEM and radiometric)
o Data indicates the presence of a conductive anomaly down to at least 600m below surface
along the main Boumadine trend, suggesting at-depth extension of mineralization
o New conductive anomalies identified south and west of the main trend
Imiter bis
• Full results from the first phase of drilling at Imiter bis returned new mineralized intersections on the
north target including:
o IM-DD22-041 intercepted 3.94 g/t Au over 5.0m
o IM-DD22-039 intercepted 1.46 g/t Au over 11.5m (including 2.42 g/t Au over 3.1m)
• Receipt of final data from the airborne geophysics survey (magnetic, VTEM and radiometric)
Tijirit (Mauritania)
• Mobilization and launch of the 25,000m infill drilling program (part of the feasibility study) with one
reverse circulation (“RC”) drill rig turning as of mid-October 2022
“We are very excited by the recent VTEM data from Boumadine suggesting continuity of the
mineralized structure both south and at depth , which follow last month’s promising high-grade drill
exploration results on the property . The presence of new conductive anomalies outside the main
trend indicates the potential for new mineralized zones adjacent to and along the Boumadine main
trend,” said Benoit La Salle, President & CEO. “We are also encouraged by our early work within
Zgounder Regional properties, which suggests favourable geological setting s and the presence of
mineralization.”
Zgounder Regional
Currently, three DDH rigs are turning on Zgounder Regional properties as part of the initial 7,500m drill
exploration program (Figure 8). The Corporation will be testing five different targets highlighted by the
spectral and prospecting campaign (Figure 1). The first test area will be “Zgounder Far West”: In addition
to exhibiting the same sedimentary units, similar alteration, and the same lithological contact with
rhyolite as Zgounder, the Far West area returned anomalous values for silver and copper from grab
samples (Figure 2). Additional priority drill areas in 2023 include the Tala and Izza Areas, both of which
returned high -grade grab samples in silver, copper and gold associated with a very strong spectral
alteration signature (Figures 3 and 4).
Figure 1 – Worldview-3 Image of Zgounder Regional with Location of Sampled Outcrops
Figure 2 – Zgounder Far West with Magnetics (Gradient RTP) and Ag Grab Samples
Figure 3 – Zgounder Tala Area with Magnetics (Gradient RTP) and Ag Grab Samples
Figure 4 – Zgounder Izza Area with Magnetics (Gradient RTP) and Ag Grab Samples
Zgounder Regional Next Steps
In addition to the ongoing drill exploration program (Figure 4), the objective at Zgounder Regional is to
identify and define new drill targets. Results from a sediment geochemistry survey are expected shortly,
which will be integrated with data from the geophysics program and ongoing mapping and prospecting.
Boumadine
The expanded drilling program announced previously is ongoing with results pending. The Corporation
has received the final data from the airborne geophysics survey, which indicates the presence of a
conductive anomaly down to at least 600m below surface along the main Boumadine trend . This
suggests the extension of mineralization at depth (Figure 5) with a slight shift toward east as the depth
increases, most likely due to a dip of the structure. The data also identified new conductive anomalies
south and west of the main trend.
Boumadine Next Steps
The Corporation has increased its 2022 drill program by 4,000m with the objective of extending
mineralization to the south and at depth in the Central Area. The new geophysi cs data will help guide
the infill drill program and generate new targets for exploration along strike and across the permit.
Figure 5 – Boumadine Airborne VTEM Survey at Different Depths
Imiter bis
The Corporation received the final assays from its initial drill exploration program at Imiter bis, which
included 24 DDH over 4,754m (Figure 6). The North Zone returned some very encouraging results (Table
1), including IM-DD22-041, which intercepted 3.94 g/t Au over 5.0m and IM-DD22-039, which intercepted
1.46 g/t Au over 11.5m (including 2.42 g/t Au over 3.1m) (Figure 7). The mineralization is materialized
by stockwork of grayish quartz veinlets with traces of sulphides; and the host rock is strongly silicified
and moderately bleached. The Corporation will evaluate the need for further drilling in the coming
months with the objective of locating the “boiling zone”, which could host higher grade mineralization
in this low-sulphidation epithermal system.
Figure 6 – Drill Program Completed at Imiter bis
Table 1 – Significant Intercepts from 2022 Imiter bis Drill Exploration Program
Hole No. Area From (m) To (m) Au
(g/t)
Ag
(g/t)
Length*
(m)
IM-DD21-030
South 49.0 52.3 0.92 4 3.3
including 50.0 51.8 1.33 4 1.8
IM-DD21-030 South 63.0 64.0 1.19 4 1.0
IM-DD22-037 North-West 79.2 80.2 1.06 1 1.0
IM-DD22-037
North-West 86.3 90.8 1.73 2 4.5
including 88.9 90.8 3.53 4 1.9
IM-DD22-038
North-West 109.2 111.9 2.05 1 2.7
including 109.2 109.8 7.78 1 0.6
IM-DD22-039 North-West 159.0 160.8 1.02 1 1.8
IM-DD22-039
North-West 194.7 206.2 1.46 2 11.5
including 194.7 197.8 2.42 4 3.1
including 200.0 202.0 2.68 3 2.0
IM-DD22-040 North-West 279.9 281.0 1.01 4 1.1
IM-DD22-041 North-West 160.8 161.8 1.22 3 1.0
IM-DD22-041 North-West 208.0 211.7 1.22 2 3.7
including 209.5 210.5 3.39 4 1.0
IM-DD22-041
North-West 215.8 220.8 3.94 1 5.0
including 220.3 220.8 35.4 4 0.5
IM-DD22-042 North-West 85.0 85.5 4.09 1 0.5
IM-DD22-043 Dilatation 42.6 45.0 0.91 25 2.4
IM-DD22-051 North-East 71.1 72.0 1.28 4 0.9
IM-DD22-053 North-East 40.0 41.8 0.93 3 1.8
* True width remains undetermined at this stage; all values are uncut.
Figure 7 – Imiter bis North Zone Section (IM-DD22-039 & IM-DD22-041)
Tijirit (Mauritania)
Following government intervention, the Corporation was able to regain unimpaired access to the Tijirit
property. One RC rig is currently operating at Tijirit as part of the 25,000m drilling program established
for 2022. A DDH rig is expected to be mobilized early November 2022, with the objective of completing
the program before end of January 2023.
Figure 8 – Drill Rigs Mobilized on Zgounder Regional Project
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 Moroccan mining assets are complemented by its
Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team is focused on maximising 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 FCA
President & CEO
Alex Ball
VP, Corporate Development & IR