Aya Gold & Silver Provides Year-End 2025 Exploration Update
Aya Gold & Silver Provides Year-End 2025 Exploration Update
MONTREAL, Jan. 21, 2026 -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) provides a
full-year 2025 exploration update, summarizing the results of it drilling programs at the Zgounder Silver Mine and the
Boumadine Project in the Kingdom of Morocco.
“In 2025, our exploration programs at Zgounder and Boumadine demonstrated our exploration leadership,
supported asset growth, produced outstanding intercepts, and underscored the potential to add significant high-
grade ounces in the near term,” said Benoit La Salle, President & CEO. “Over 175,000 metres of drilling combined
with advanced technology have been central to these results and to identifying new opportunities. With 16 new
permits expanding our Moroccan footprint, we remain focused on creating shareholder value through the drill bit
and building on this momentum into 2026.”
Highlights
Zgounder Mine Exploration 1
• Significant mineralization confirmed at depth toward the granite contact, with extension of the open pit and
to the west near the fault:
• Hole DZG-SF-24-228 intercepted 3,794 grams per tonne (“g/t”) silver (“Ag”) over 10.0 metres (“m”).
• Hole DZG-SF-24-412 intercepted 3,279 g/t Ag over 8.0 m, including 6,425 g/t Ag over 4.0 m.
• Hole ZG-SF-24-259 intercepted 1,082 g/t Ag over 8.5 m, including 2,133 g/t Ag over 2.7 m.
• Hole ZG-SF-25-290 intercepted 823 g/t Ag over 10.0 m and 2,055 g/t Ag over 4.5 m.
• Hole ZG-RC-24-413 intercepted 1,001 g/t Ag over 28.0 m, including 2,787 g/t Ag over 7.0 m.
• Hole ZG-RC-24-452 intercepted 1,364 g/t Ag over 14.0 m, including 2,433 g/t Ag over 6.0 m.
• Completed 28,495 m of drilling at Zgounder near-mine and regionally exceeding full-year target of 20,000–
25,000 m.
• Six (6) exploration permits added expanding the Zgounder exploration footprint to 378.8 square kilometres
(“km2”).
• Net Reserve and Resource Growth – December 2025 update 2:
• P&P Reserves: 73 Moz Ag at 145 g/t (15.7 million tonnes (“Mt”)), a 4% increase in silver ounces (“oz”) from the
prior estimate, net of depletion, with reserves estimated using a silver price assumption of $26/oz.
• Measure & Indicated Resources (“M&I Resources”) 2: 100 Moz Ag at 165 g/t Ag (18.9 Mt), a 5% increase in
total Ag ounces from the prior estimate, net of depletion.
Boumadine Exploration 1,3,4
• Significant mineralized intercepts in the Boumadine Main Trend:
• BOU-MP25-087 intercepted 2,323 g/t silver equivalent (“AgEq”) over 15.0 m (3.31 g/t Au, 1,900 g/t Ag, 4.8% zinc
(“Zn”), 1.8% lead (“Pb”) and 0.03% copper (“Cu”)), including 3,858 g/t AgEq over 8.7 m (5.37 g/t Au, 3,208 g/t
Ag, 6.3% Zn, 2.8% Pb and 0.05% Cu).
• BOU-RC25-026 intercepted 3,336 g/t AgEq over 6.0 m (37.03 g/t Au, 334 g/t Ag, 2.8% Zn, 1.0% Pb and 0.2%
Cu), including 8,163 g/t AgEq over 2.0 m (102.38 g/t Au, 94 g/t Ag, 2.4% Zn, 1.0% Pb and 0.1% Cu).
• Extension of Tizi Zone to 2.2 km with intersection such as:
• BOU-DD25-550 intercepted 272 g/t AgEq over 4.6 m (1.33 g/t Au, 101 g/t Ag, 1.6% Zn, 1.1% Pb and 0.03% Cu).
• Updated Mineral Resources Estimate (“MRE”) 2,3 – February 2025:
• Indicated Mineral Resource : 5.2 Mt at 91 g/t Ag, 2.78 g/t Au, 2.8% Zn and 0.85% Pb containing an estimated
15.1 Moz of Ag, 449 thousand ounces (“koz”) of Au, 145 thousand tonnes (“kt”) of Zn and 44 kt of Pb, an
increase of 19% from the prior estimate.
• Inferred Mineral Resource : 29.2 Mt containing an estimated 76.8 Moz of Ag, 2.4 Moz of Au, 615 kt of Zn and
237 kt of Pb.
• Upside Potential: The updated MRE was effective February 24, 2025 and does not include most of the 2025
drilling campaign, highlighting potential for additional resources.
• 10 exploration permits added, expanding the Boumadine exploration footprint to 340.7 km 2.
• Completion of 569 drillholes totalling 150,325 m within the Boumadine main trend and other targets.
1. All intersections are in core lengths.
2. Mineral Reserves as of September 30, 2025 were estimated using a silver price assumption of $26/oz. Mineral Resources are inclusive of Mineral Reserves. The
Mineral Resource Estimate for Zgounder is effective June 30, 2025 and was estimated using a silver price assumption of $28/oz. See Aya’s December 16, 2025
press release for additional information.
3. Ag equivalent is based on a silver price of US$24/oz with a process recovery of 89%, a gold price of US$2,200/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 in the following ratios: 1g/t Au: 77.9 g/t Ag; 1% Cu: 85.4 g/t Ag; 1% Pb: 24.2 g/t Ag; and 1% Zn: 24.6 g/t Ag.
4. As at February 24, 2025. Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable
them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Summary of 2025 Exploration Results
Zgounder Exploration
The Zgounder Mine is an Ag mineralization sediment hosted deposit, currently interpreted as epithermal, underground and
open pit mine in the central Anti-Atlas Mountains of Morocco. Best intercepts for 2025 are shown in Table 1.
• For the period of January to December 2025, a total of 23,866 m was completed on the deposit. (Figure 1).
• Infill drilling, underground and surface, on the high-grade mineralization at the main orebody confirmed the
mineralization and extended underground production zones. Results include: DZG-SF-24-228 with 3,794 g/t Ag over
10.0 m, DZG-SF-25-422 with 5,297 g/t Ag over 4.0 m, and DZG-SF-25-412 with 3,279 g/t Ag over 8.0 m with 6,425 g/t
Ag over 4.0 m.
• Silver mineralization near the granite contact was confirmed and extended 250 m along strike in the west-extension and
up to 400 m vertical depth with results including: ZG-SF-25-290 with 823 g/t Ag over 10.0m and 2,055 g/t Ag over 4.5 m,
and ZG-SF-24-209 with 1,756 g/t Ag over 4.5m including 6,800 g/t Ag over 1.0 m.
• The open pit area is a key contributor to production, reverse circulation (“RC”) drilling on the area, at east of the deposit
confirmed the continuity of the mineralization at south and at north. Results include ZG-RC-24-413 with 1,001 g/t Ag
over 28.0 m including 2,787 g/t Ag over 7.0 m, and ZG-RC-24-452 with 1,364 g/t Ag over 14.0 m, including 2,433 g/t Ag
over 6.0 m.
Table 1 – Best Intercepts at Zgounder in 2025 (core lengths)
DDH No. From To Ag Length* Ag x width
(m) (m) (g/t) (m)
Surface DDH
ZG-24-128 26.0 32.0 960 6.0 5 760
Underground DDH
ZG-SF-24-203 176.0 186.0 911 10.0 9 106
Including 180.5 182.0 4 855 1.5 7 282
ZG-SF-24-209 299.0 303.5 1 756 4.5 7 900
Including 300.0 301.0 6 800 1.0 6 800
ZG-SF-24-219 65.0 70.0 1 147 5.0 5 734
Including 65.0 67.5 2 174 2.5 5 434
ZG-SF-24-259 66.0 74.5 1 082 8.5 9 197
Including 67.5 70.2 2 133 2.7 5 760
ZG-SF-25-290 275.0 285.0 823 10.0 8 228
ZG-SF-25-290 297.5 302.0 2 055 4.5 9 246
DZG-SF-24-228 6.0 16.0 3 794 10.0 37 940
DZG-SF-24-325 52.0 58.0 1 113 6.0 6 675
DZG-SF-24-353 46.5 59.5 572 13.0 7 430
ZG-SF-24-123 276.5 289.1 1 640 12.6 20 660
Including 278.0 279.0 10 104 1.0 10 104
Including 277.5 284.5 2 747 7.0 19 230
DZG-SF-25-409 23.0 26.0 3 042 3.0 9 125
Including 23.5 25.5 4 456 2.0 8 913
DZG-SF-25-412 56.5 64.5 3 279 8.0 26 231
Including 56.5 60.5 6 425 4.0 25 700
DZG-SF-25-422 48.0 52.0 5 297 4.0 21 188
DZG-SF-25-465 35.5 36.5 7 220 1.0 7 220
DZG-SF-25-557 35.7 40.0 1 534 4.3 6 597
DZG-SF-25-715 3.8 7.0 1 972 3.2 6 311
Surface RC
ZG-RC-24-155 0.0 13.0 755 13.0 9 812
ZG-RC-24-169 0.0 17.0 484 17.0 8 220
ZG-RC-24-232 0.0 11.0 1 054 11.0 11 596
Including 0.0 5.0 2 063 5.0 10 316
ZG-RC-24-354 19.0 31.0 664 12.0 7 969
Including 22.0 25.0 1 793 3.0 5 380
ZG-RC-24-399 63.0 70.0 1 298 7.0 9 085
Including 64.0 68.0 2 081 4.0 8 324
ZG-RC-24-401 17.0 20.0 3 565 3.0 10 696
ZG-RC-24-413 10.0 38.0 1 001 28.0 28 026
Including 26.0 33.0 2 787 7.0 19 512
ZG-RC-24-424 42.0 44.0 3 733 2.0 7 466
ZG-RC-24-452 39.0 53.0 1 364 14.0 19 100
Including 45.0 51.0 2 433 6.0 14 596
ZG-RC-24-471 0.0 7.0 826 7.0 5 780
ZG-RC-24-491 0.0 15.0 538 15.0 8 068
Including 4.0 10.0 949 6.0 5 692
ZG-RC-25-412 27.0 37.0 745 10.0 7 452
ZG-RC-25-449 11.0 15.0 1 347 4.0 5 388
ZG-RC-24-593 0.0 6.0 1 123 6.0 6 740
ZG-RC-24-303 22.0 28.0 1 970 6.0 11 820
ZG-RC-25-462 11.0 22.0 502 11.0 5 527
ZG-RC-25-478 3.0 18.0 677 15.0 10 155
Including 3.0 6.0 2 138 3.0 6 415
Underground T28
T28-24-525 7.2 12.0 1 397 4.8 6 706
T28-25-628 1.2 8.4 845 7.2 6 080
T28-25-666 14.4 25.2 664 10.8 7 169
Including 14.4 19.2 1 344 4.8 6 450
T28-25-671 12.0 25.2 751 13.2 9 910
Including 18.0 24.0 1 244 6.0 7 464
T28-25-739 3.6 16.8 525 13.2 6 928
T28-25-816 13.2 19.2 1 305 6.0 7 828
T28-25-894 7.2 13.2 1 339 6.0 8 035
T28-25-899 8.4 14.4 885 6.0 5 312
T28-25-904 8.4 15.6 1 631 7.2 11 744
Including 8.4 12.0 3 100 3.6 11 160
T28-25-942 20.4 26.4 1 947 6.0 11 682
Including 21.6 26.4 2 359 4.8 11 324
T28-25-946 12.0 21.6 561 9.6 5 383
T28-25-961 9.6 12.0 2 465 2.4 5 916
Underground YAK
YAK-24-143 1.2 21.6 382 20.4 7 784
YAK-24-144 13.2 25.2 520 12.0 6 238
YAK-24-152 3.6 9.6 1 532 6.0 9 192
YAK-25-332 8.4 10.8 2 380 2.4 5 712
YAK-25-384 10.8 24.0 400 13.2 5 275
YAK-25-385 21.6 28.8 885 7.2 6 372
YAK-25-386 9.6 15.6 2 021 6.0 12 127
Including 13.2 15.6 4 880 2.4 11 712
* True width remains undetermined at this stage; all values are uncut.
Figure 1: Location of Drill Hole at Zgounder
Zgounder Regional Exploration
Regional exploration drilling was conducted on four targets including one near-mine 500 m north of the Zgounder deposit with a
total of 4,415 m drilled.
Zgounder North Target : Drilling targeted a rhyolite-sediment contact mapped on surface north of the Zgounder deposit.
Drilling intersected the rhyolite up to 200 m depth; assay results are still pending for this area.
Ait Nebdas East and Ait Nebdas West: Drilling targeted NS mineralization trend hosted into a diorite porphyry intrusion. The
surface Ag-Cu mineralization was identified by rock samples. Drill holes intercepted anomalous Ag intervals with lower grades
than the ones in surface.
Tachakchte: Drilling targeted an ENE contact between a felsic intrusion and a volcanic unit aiming Ag-Cu anomalies shown
by rock surface sampling. Assay results do not show continuity of mineralization at depth.
Iriri: Drilling targeted a N10 alteration corridor hosted in Proterozoic intermediate volcanic rocks. The alteration bears Au
anomalies identified by surface rock sampling. Drill holes were realized in 2 phases; a RC campaign and a follow up DDH to
better understand the continuity of the mineralization at depth. Assays results received by the end of 2025 intercepted
anomalous Au intersections. Further follow up is planned for 2026.
Additional work includes:
• Geological mapping and prospecting, focusing on the Zgounder Far East, Touchkal and Zgounder Nord properties, the
last acquired in 2025.
• A stream sediment campaign on Zgounder Nord, and follow-up on previous stream sediment results from Touchkal
property.
• Geochemical campaign on outcrop samples over Zgounder deposit and Zgounder regional, coupled with core-samples
from the deposit to better characterize alteration halo and compositions of intrusive units.
• Execution of a ground-geophysical survey (IP and MT) over the eastern Zgounder permit targeting the Zgounder
sedimentary sequence underneath the Proterozoic sedimentary cover.
• Completion of a machine learning–based geoanalytics analysis across the Zgounder deposit and regional exploration
permits within a 30 km radius of the deposit. Targets generated from the study will be followed up in 2026 (Figure 4).
• Calibration of previously acquired World-View 3 hyperspectral imagery using samples collected from the concerned
areas.
• Acquisition of 6 exploration permits (Zgounder Nord), expanding the Zgounder exploration footprint to 378.8 km2.
Figure 2: Location of Drill Hole at Zgounder Surface
Figure 3: Location of Drill Holes at Zgounder Regional Exploration
Figure 4: AI Generated Near-Mine Targets
Boumadine Exploration
Boumadine contains a large polymetallic deposit (Ag, Au, Pb, Zn) located in the Anti-Atlas Mountains, 80km south-west of the
city of Errachidia. 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 arsenopyrite, sphalerite, galena, and chalcopyrite. The Tizi and Imarriren zones
share the same characteristics as the main mineralization except for their N000 orientation. Best intercepts for 2025 are
shown in Table 2.
• The updated estimated mineral resources, as published on March 31, 2025, contain :
• An indicated Mineral Resource of 5.2Mt at 91 g/t Ag, 2.78 g/t Au, 2.8% Zn and 0.85% Pb containing an
estimated 15.1Moz of Ag, 449koz of Au, 145kt of Zn and 44kt of Pb, an increase of 19%, and;
• An inferred Mineral Resource of 29.2Mt at 82 g/t Ag, 2.63 g/t Au, 2.11% Zn and 0.82% Pb containing an
estimated 76.8Moz of Ag, 2.4Moz of Au, 615kt of Zn and 237kt of Pb, an increase of 120%.
• In 2025, A total of 569 drillholes totaling 150 325 m were completed on the Boumadine project and satellite
prospects
• 273 drillholes totaling 119,887 m were drilled on the deposit (Figure 5).
• 136 drillholes totaling 29,765 m were drilled on different regional exploration targets (Figure 6).
• 160 definition drillholes totaling 674 m were drilled on the two existing tailings.
• Best mineralized intercept to date: BOU-MP25-087 intercepted 2,323 g/t AgEq over 15.0 m (3.31 g/t Au, 1,900 g/t
Ag, 4.8% Zn, 1.8% Pb and 0.03% Cu), including 3,858 g/t AgEq over 8.7 m (5.37 g/t Au, 3,208 g/t Ag, 6.3% Zn, 2.8%
Pb and 0.05% Cu).
• Polymetallic mineralization of the Tizi zone was extended to 2.2km in length. BOU-DD25-547 intercepted 248
g/t AgEq over 9.0 m (0.42 g/t Au, 80 g/t Ag, 3.6% Zn, 1.8% Pb and 0.04% Cu); BOU-DD24-540 intercepted 480 g/t
AgEq over 2.0 m (3.27 g/t Au, 53 g/t Ag, 1.1% Zn, 5.2% Pb and 0.2% Cu).
• Increasing Imarriren strike length to 1.2 km. BOU-DD25-503 intercepted 876 g/t AgEq over 1.0 m (9.92 g/t Au, 49
g/t Ag, 1.6% Zn, 0.2% Pb and 0.1% Cu); BOU-DD25-529 intercepted 365 g/t AgEq over 2.0 m (3.66 g/t Au, 52 g/t Ag,
0.5% Zn, 0.5% Pb and 0.1% Cu).
• New high-grade parallel structure with a long, continuous mineralized interval : BOU-DD25-623 intercepted 540
g/t AgEq over 47.3 m (0.94 g/t Au, 399 g/t Ag, 1.4% Zn, 1.2% Pb and 0.03% Cu), including 681 g/t AgEq over 10.6 m
(1.84 g/t Au, 489 g/t Ag, 1.3% Zn, 0.6% Pb and 0.04% Cu) and 1,286 g/t AgEq over 11.7 m (1.55 g/t Au, 1,002 g/t Ag,
3.0% Zn, 3.5% Pb and 0.1% Cu).
• Discovery of New Asirem Gold Zone: BOU-DD25-629 intercepted 1.52 g/t Au over 4.3 m, 1.49 g/t Au over 1.0 m and
1.95 g/t over 1.0 m; BOU-DD25-632 intercepted 4.53 g/t Au over 1.0 m, 2.05 g/t Au over 1.0 m, 1.82 g/t Au over 1.0 m,
1.47 g/t Au over 1.0 m and 0.98 g/t Au over 2.0 m.
• 10 additional exploration permits and a 600 km2 Exploration Authorization , expanding the Boumadine
exploration footprint to 340.74km2. (Figure 7).
• Completion of a satellite mapping and spectral study on Boumadine using WorldView-3 data over 1,500km2.
Identification of numerous clay alteration halos similar to Boumadine.
• Over 22,000 assays are still pending at Boumadine.
Table 2 – Best Intercepts at Boumadine in 2025 (core lengths)
DDH No. From To Au Ag Length* Cu Pb Zn Ag Eq** AgEq *m
(m) (m) (g/t) (g/t) (m) (%) (%) (%) (g/t)
BOU-DD24-387 378.3 381.0 0.37 297 2.7 0.0 3.7 3.2 497 1 343
BOU-DD24-392 465.0 466.7 1.50 1 123 1.7 0.1 5.3 6.9 1 551 2 637
BOU-DD24-399 195.0 196.0 19.24 4 1.0 0.0 0.0 0.0 1 506 1 506
BOU-DD24-413 190.4 191.4 16.72 1 1.0 0.0 0.0 0.0 1 305 1 305
BOU-DD24-436 66.6 73.4 1.21 89 6.8 0.0 0.5 1.3 230 1 561
BOU-DD24-436 92.0 101.3 0.51 50 9.3 0.1 1.7 4.4 252 2 342
BOU-DD24-437 91.3 100.0 0.52 87 8.7 0.0 2.0 3.7 276 2 398
BOU-DD24-440 135.3 152.1 1.39 98 16.8 0.0 1.8 3.2 334 5 606
Including 148.0 152.1 2.93 157 4.1 0.0 0.8 2.6 476 1 951
BOU-DD24-440 163.6 181.4 0.55 74 17.8 0.1 1.5 5.3 293 5 220
Including 172.3 176.4 1.31 175 4.1 0.1 3.8 10.9 649 2 662
BOU-DD24-450 94.8 105.4 3.76 35 10.6 0.2 0.1 0.1 349 3 703
Including 94.8 101.4 5.57 51 6.6 0.3 0.1 0.1 512 3 378
BOU-DD24-450 163.3 172.4 1.43 48 9.1 0.1 0.7 1.4 218 1 981
Including 163.3 168.1 2.38 41 4.8 0.1 0.6 1.2 283 1 358
BOU-MP24-015 475.0 476.6 0.05 774 1.6 0.1 0.1 0.1 788 1 261
BOU-DD24-387 378.3 381.0 0.37 297 2.7 0.0 3.7 3.2 497 1 343
BOU-DD24-442 173.7 178.3 0.20 73 4.6 0.1 1.3 4.9 248 1 141
BOU-DD24-453 164.4 169.6 2.68 38 5.2 0.2 0.2 0.7 284 1 476
Including 164.4 168.1 3.44 45 3.7 0.2 0.1 0.2 341 1 263
BOU-DD24-472 125.8 128.7 3.78 29 2.9 0.1 0.7 1.8 394 1 143
BOU-DD24-473 282.7 288.1 1.48 54 5.4 0.1 1.1 1.7 243 1 314
BOU-DD24-474 48.0 52.0 2.38 37 4.0 0.0 0.6 2.5 302 1 208
BOU-DD24-475 405.4 407.1 5.62 257 1.7 0.4 0.3 3.5 820 1 394
BOU-DD24-478 459.4 462.7 4.61 75 3.3 0.1 0.1 0.5 460 1 517
BOU-DD24-487 483.1 486.5 3.36 225 3.4 0.1 0.1 0.0 502 1 707
BOU-MP24-015 475.0 476.6 0.05 774 1.6 0.1 0.1 0.1 788 1 261
BOU-DD25-497 184.6 190.8 1.93 18 6.2 0.1 0.1 0.9 201 1 244
BOU-DD25-501 93.0 99.0 1.73 48 6.0 0.1 0.2 0.5 210 1 261
BOU-DD25-504 141.0 147.6 3.69 46 6.6 0.0 0.2 0.3 349 2 307
Including 141.0 142.2 10.34 37 1.2 0.0 0.1 0.1 851 1 022
BOU-DD25-506 297.3 302.3 3.19 48 5.0 0.1 0.1 0.1 312 1 559
BOU-DD25-509 282.1 291.4 2.18 62 9.3 0.1 0.7 1.5 296 2 754
Including 289.8 291.4 7.16 215 1.6 0.5 0.2 3.2 897 1 436
BOU-DD25-511 311.1 316.0 1.95 270 4.9 0.1 0.1 0.6 449 2 201
BOU-DD25-512 338.0 339.0 15.86 1 1.0 0.0 0.1 0.3 1 247 1 247
BOU-DD25-513 365.3 367.1 5.19 118 1.8 0.5 0.2 1.0 591 1 063
BOU-DD25-513 374.8 377.7 5.52 109 2.9 0.3 0.2 5.2 698 2 025
BOU-DD25-516 648.5 649.0 66.66 111 0.5 0.1 1.0 1.6 5 373 2 687
BOU-DD25-547 117.0 126.0 0.42 80 9.0 0.0 1.8 3.6 248 2 233
BOU-MP25-026 238.5 243.2 0.58 36 4.7 0.1 1.3 7.2 296 1 392
BOU-MP25-028 392.1 396.4 3.27 19 4.3 0.1 0.1 0.3 286 1 232
BOU-DD25-500 537.0 543.6 2.41 50 6.6 0.1 0.2 0.1 255 1 682
Including 540.1 543.6 3.11 60 3.5 0.1 0.2 0.1 321 1 123
BOU-DD25-550 54.9 59.5 1.33 101 4.6 0.0 1.1 1.6 272 1 253
BOU-DD25-569 544.0 546.0 0.03 690 2.0 0.0 0.6 0.1 710 1 420
BOU-DD25-572 351.8 364.0 2.60 23 12.2 0.1 0.1 0.0 232 2 835
Including 352.6 354.8 5.28 49 2.2 0.1 0.1 0.1 473 1 042
Including 359.3 361.7 6.29 48 2.4 0.1 0.1 0.0 551 1 323
BOU-DD25-572 381.6 388.1 2.66 21 6.5 0.0 0.2 0.4 246 1 599
Including 383.0 385.0 6.49 25 2.0 0.0 0.2 0.2 544 1 089
BOU-DD25-572 573.0 574.8 9.77 65 1.8 0.2 0.7 2.8 929 1 673
BOU-DD25-584 325.7 334.7 4.04 41 9.0 0.1 0.1 0.1 369 3 325
Including 327.0 331.2 5.98 51 4.2 0.2 0.1 0.1 535 2 248
BOU-DD25-589 341.0 351.2 2.90 29 10.2 0.1 0.1 0.1 271 2 763
Including 345.4 348.0 7.46 71 2.6 0.4 0.1 0.1 692 1 799
BOU-DD25-602 280.2 286.2 2.22 30 6.0 0.1 0.2 0.7 236 1 414
BOU-DD25-606 274.4 276.4 7.71 65 2.0 0.3 0.1 0.1 700 1 399
BOU-DD25-608 384.5 386.5 5.21 244 2.0 0.2 0.7 0.7 704 1 408
BOU-DD25-613 170.0 173.1 9.82 51 3.1 0.2 0.1 1.2 862 2 672
Including 170.0 171.2 23.66 82 1.2 0.3 0.1 1.2 1 983 2 379
BOU-DD25-623 182.9 230.2 0.94 399 47.3 0.0 1.2 1.4 540 25 539
Including 189.0 199.6 1.84 489 10.6 0.0 0.6 1.3 681 7 223
Including 216.5 228.2 1.55 1 002 11.7 0.1 3.5 3.0 1 286 15 041
BOU-DD25-633 275.8 282.0 0.55 293 6.2 0.0 4.3 2.1 498 3 090
BOU-DD25-633 314.3 319.0 1.45 69 4.7 0.1 0.8 5.3 339 1 595
BOU-MP25-081 83.0 90.0 0.60 257 7.0 0.1 4.1 4.0 506 3 541
BOU-MP25-081 183.0 185.0 1.73 240 2.0 0.0 3.2 5.1 602 1 204
BOU-MP25-081 196.0 201.0 0.55 349 5.0 0.1 1.6 2.3 499 2 494
BOU-MP25-087 112.0 117.0 0.69 209 5.0 0.0 2.0 3.2 396 1 978
BOU-MP25-087 138.4 153.4 3.31 1 900 15.0 0.0 1.8 4.8 2 323 34 850
Including 142.0 150.7 5.37 3 208 8.7 0.0 2.8 6.3 3 858 33 564
BOU-MP25-087 160.0 164.8 1.18 311 4.8 0.0 4.0 4.4 614 2 947
BOU-MP25-088 539.5 543.5 1.24 57 4.0 0.1 0.5 3.6 261 1 044
BOU-MP25-092 320.0 322.3 0.78 361 2.3 0.0 3.1 3.6 610 1 403
BOU-RC25-026 50.0 56.0 37.03 334 6.0 0.2 1.0 2.8 3 336 20 019
Including 50.0 52.0 102.38 94 2.0 0.1 1.0 2.4 8 163 16 325
BOU-RC25-027 133.0 137.0 2.10 94 4.0 0.2 1.0 5.3 432 1 726
BOU-RC25-043 152.0 161.0 2.69 45 9.0 0.1 0.1 0.1 268 2 414
Including 154.0 159.0 4.44 67 5.0 0.2 0.1 0.1 432 2 158
* True width remains undetermined at this stage; all values are uncut.
** Ag equivalent is based on a silver price of US$24/oz with a process recovery of 89%, a gold price of US$2,200/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 in the following ratios: 1g/t Au:
77.9 g/t Ag; 1% Cu: 85.4 g/t Ag; 1% Pb: 24.2 g/t Ag; and 1% Zn: 24.6 g/t Ag.