Aya Gold & Silver Reports High-Grade Extensions at the Zgounder Silver Mine at Depth and to the East
PRESS RELEASE
Aya Gold & Silver Reports High-Grade Extensions at the Zgounder Silver Mine at
Depth and to the East
Montreal, Quebec, February 16, 2022 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is
pleased to report additional high-grade assay 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)
o High-grade extension of mineralis ation at the 2,030 level by DZG-SF-21-02, which intercepted
3,353 grams per tonne (“g/t”) silver (“Ag”) over 7.5m including
o 19,173 g/t Ag over 0.5m
o 10,440 g/t Ag over 0.5m
o 10,029 g/t Ag over 0.5m
o 5,865 g/t Ag over 0.5m
o 1,498 g/t Ag over 0.5m
o Additionally, DZF-SF-21-02bis intercepted 1,995 g/t Ag over 2.0m and 1,329 g/t Ag over 12.5m
including
o 21,551 g/t Ag over 0.5m
o 5,355 g/t Ag over 0.5m
o Extension of eastern strike with DZG-21-18, which intercepted 1,705 g/t Ag over 5.5m
“Today’s high-grade drill results add multiple intersections of exceptional grade and thickness that
demonstrate the potential to further expand the deposit laterally. In particular, hole DZG-SF-21-02 struck
a rich mineralised zone and ranks among our top 10 best intercepts. This intercept seems to form part
of a larger vertical zone of high-grade mineralisation as evidenced by h ole DZF-21-21-02bis, which hit
silver 15 degrees above DZG-SF-21-02. We look forward to following these results up with additional
drilling,” said Benoit La Salle, President & CEO.
Included in this release are results for 25 diamond drill holes (“DDH”), which include 13 DDH from surface
and 12 underground 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-21-81 1.50 3.00 1.50 80
31.50 33.00 1.50 1,000
DZG-21-13 127.50 128.50 1.00 1,608
DZG-21-18 90.50 96.00 5.50 1,705
99.00 102.00 3.00 106
111.00 115.00 4.00 97
126.00 129.00 3.00 87
Underground
DZG-SF-21-02
1.50 4.50 3.00 184
24.50 32.00 7.50 3,353
Including 0.50 1,498
Including 0.50 10,440
Including 0.50 19,173
Including 0.50 10,029
Including 0.50 5,865
36.00 39.00 3.00 1,382
41.50 42.00 0.50 2,240
49.00 50.50 1.50 268
DZG-SF-21-02bis
1.50 3.50 2.00 1,995
26.50 39.00 12.50 1,329
Including 0.50 5,355
Including 0.50 21,551
42.00 43.50 1.50 153
57.50 59.00 1.50 587
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
Quality Assurance
For core drilling, all individual samples represent approximately one meter 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 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 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 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 prosp ects (including the timing and
development of new deposits and the success of exploration activities) and other opportunities.
Wherever possible, words such as “confirm”, “demonstrate”, “continuity”, “potential”, “continue”, “expand”,
“seems”, 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
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 availabl e 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 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 Esti mates
(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. Ay a 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 proper ties, 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 2020 Annual Information Form dated March 31, 2021, 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 change. Nothing in this document should be
construed as either an offer to sell or a solici tation 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-21-80 1.50 7.50 6.00 330
10.50 13.50 3.00 860
ZG-21-81 1.50 3.00 1.50 80
31.50 33.00 1.50 1,000
ZG-21-82 34.50 36.00 1.50 76
89.00 90.00 1.00 308
ZG-21-83 18.50 20.00 1.50 168
ZG-21-84 21.00 22.50 1.50 80
ZG-21-85 17.50 19.00 1.50 78
22.00 23.00 1.00 349
ZG-21-86 12.50 15.50 3.00 514
33.00 36.00 3.00 180
DZG-21-13 127.50 128.50 1.00 1,608
DZG-21-14 96.00 98.00 2.00 128
101.00 102.00 1.00 128
123.50 127.50 4.00 636
DZG-21-15 83.50 87.00 3.50 303
98.00 99.50 1.50 504
132.50 134.00 1.50 692
DZG-21-17 121.50 124.00 2.50 126
134.50 137.50 3.00 122
DZG-21-18 90.50 96.00 5.50 1,705
99.00 102.00 3.00 106
111.00 115.00 4.00 97
126.00 129.00 3.00 87
DZG-21-22 53.50 54.50 1.00 76
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-21-110 27.00 28.50 1.50 129
34.50 39.00 4.50 657
47.00 48.00 1.00 108
78.50 79.50 1.00 112
82.50 87.00 4.50 136
114.50 119.00 4.50 184
121.50 122.50 1.00 101
DZG-SF-21-01 8.50 9.00 0.50 96
17.50 20.50 3.00 411
58.00 58.50 0.50 80
DZG-SF-21-01bis 5.00 7.00 2.00 124
13.50 14.00 0.50 84
DZG-SF-21-02 1.50 4.50 3.00 184
24.50 32.00 7.50 3,353
including 0.50 1,498
including 0.50 10,440
including 0.50 19,173
including 0.50 10,029
including 0.50 5,865
36.00 39.00 3.00 1,382
41.50 42.00 0.50 2,240
49.00 50.50 1.50 268
DZG-SF-21-02bis 1.50 3.50 2.00 1,995
26.50 39.00 12.50 1,329
including 0.50 5,355
including 0.50 21,551
42.00 43.50 1.50 153
57.50 59.00 1.50 587
DZG-SF-21-03 13.00 14.00 1.00 100
25.00 26.00 1.00 678
DZG-SF-21-04bis 8.00 13.00 5.00 447
22.50 24.00 1.50 163
53.00 54.50 1.50 152
69.50 71.00 1.50 92
DZG-SF-21-07 20.00 24.00 4.00 312
DZG-SF-21-09 39.00 40.50 1.50 120
DZG-SF-21-11bis 23.00 26.50 3.50 185
31.50 32.00 0.50 326
DZG-SF-21-13bis 29.50 30.00 0.50 106
DZG-SF-21-14 0.00 15.00 15.00 529
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.