Aya Gold & Silver Reports Zgounder At-Depth High-Grade Drill Results
PRESS RELEASE
Aya Gold & Silver Reports Zgounder At-Depth High-Grade
Drill Results
Montreal, Quebec, September 4, 2024 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or
the “Corporation”) is pleased to report additional high-grade silver drill results from its at-depth drill
exploration program at the Zgounder Silver Mine in the Kingdom of Morocco.
Highlights (all intersections are in core lengths)
• In the Central Zone from the 1,950m level:
• hole DZG-SF-24-081 intercepted 1,339 grams per tonne (“g/t”) silver (“Ag”) over
9.5 meters (“m”), including 2,984 g/t Ag over 4.0m
• hole DZG-SF-24-089 intercepted 2,522 g/t Ag over 3.0m, including 7,052 g/t
Ag over 1.0m
• hole DZG-SF-24-134 intercepted 448 g/t Ag over 10.5m
• In the Western Zone from the 2,000m level:
• hole ZG-SF-24-141 intercepted 626 g/t Ag over 6.0m
• hole ZG-SF-24-163 intercepted 536 g/t Ag over 7.0m
• In the Eastern Zone from the 2,000m level:
• hole DZG-SF-24-111 intercepted 2,372 g/t Ag over 6.5m; and 1,042 g/t Ag over
4.5m
• hole DZG-SF-24-098 intercepted 1,244 g/t Ag over 4.0m, including 2,242 g/t
Ag over 2.0m
• hole DZG-SF-24-108 intercepted 747 g/t Ag over 6.0m
• Exploration holes near the granite contact:
• Hole ZG-SF-24-183 intercepted 376 g/t Ag over 9.3m
• hole DZG-SF-24-164 intercepted 657 g/t Ag over 10.5m, including 1,037 g/t Ag
over 4.5m
• 21,190m of the 2024 exploration program drilled year to date
“Today’s high-grade drill results including hole DZG-SF-24-111continue to confirm high-grade
continuity of silver mineralization at Zgounder,” said Benoit La Salle, President & CEO. “In addition, the
silver-rich intercepts in the western and eastern extremities continue to increase the resource
expansion potential. We currently have four underground rigs turning that will deliver additional results
in the coming months.”
Included in this release are results for 217 holes, which include 80 underground DDH, 104 T28 and 33
YAK holes (T28 and YAK: percussion drilling using an air-compressed hammer). For a full summary
of today’s results, refer to Appendix 1.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
Hole ID From To Ag Length (m)* Ag x width
(g/t)
Underground DDH
ZG-SF-24-141 129.5 135.5 626 6.0 3,756
ZG-SF-24-163 116.0 123.0 536 7.0 3,750
ZG-SF-24-164 136.0 146.5 657 10.5 6,894
Including 142.0 146.5 1,037 4.5 4,668
ZG-SF-24-183 87.2 96.5 376 9.3 3,500
DZG-SF-24-081 35.5 45.0 1,339 9.5 12,722
Including 35.5 39.5 2,984 4.0 11,934
DZG-SF-24-089 126.5 129.5 2,522 3.0 7,567
Including 128.0 129.0 7,052 1.0 7,052
DZG-SF-24-098 31.0 35.0 1,244 4.0 4,976
Including 31.0 33.0 2,242 2.0 4,484
DZG-SF-24-103 20.0 28.0 377 8.0 3,014
DZG-SF-24-105 107.0 108.5 2,485 1.5 3,728
DZG-SF-24-107 10.5 16.0 575 5.5 3,164
DZG-SF-24-108 30.0 36.0 747 6.0 4,482
DZG-SF-24-111 4.5 11.0 2,372 6.5 15,420
Including 7.0 9.5 5,674 2.5 14,184
DZG-SF-24-111 20.0 24.5 1,042 4.5 4,690
DZG-SF-24-113 4.5 11.5 583 7.0 4,078
DZG-SF-24-134 34.0 44.5 448 10.5 4,700
Underground T28
TD28-24-1975-266 18.0 25.2 605 7.2 4,354
TD28-24-1975-294 21.6 26.4 909 4.8 4,363
Including 22.8 25.2 1,702 2.4 4,085
Underground YAK
YAKD-24-1950-076 1.2 6.0 697 4.8 3346
YAKD-24-1950-079 9.6 12.0 1,480 2.4 3552
YAKD-24-1950-083 12.0 40.8 674 28.8 19,402
Including 18.0 21.6 1,320 3.6 4,752
Including 27.6 31.2 1,241 3.6 4,469
YAKD-24-1950-085 25.2 44.4 212 19.2 4,066
1 Holes were drilled at various angles; true widths are unknown at this time.
2 All assay results are above the cut-off grade of 75 g/t Ag
Figure 1: Location of Drill Results at Zgounder
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 (“Afrilab”) in Marrakech, Morocco. All
samples are analyzed for silver, copper, iron, lead, and zinc using Aqua regia and finished by atomic
absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are reanalyzed using fire
assaying.
For definition drilling using T28 drilling equipment, all individual samples represent 1.2m in length.
Samples are assayed at either the Zgounder Mine laboratory or at Afrilab. At Afrilab, all samples are
analyzed for silver, copper, iron, lead, and zinc using Aqua regia and finished by AAS. Samples grading
above 200 g/t Ag are reanalyzed using fire assaying. At ZMSM, all samples are analyzed for silver
only using Aqua regia and finished by AAS. Rigorous quality controls (QaQc) are applied at both
locations.
David Lalonde, B.Sc. P. Geo, Vice-President Exploration, 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, 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 “planned”, “in-line”, “on-track”, “deliver”, “to plan”, “expected”,
“meaningful”, “yield” ,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 advancement of
the commissioning work according to Aya’s plan. 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 increase the resource at
Zgounder, the ability of these results to translate into an increase of resource, the ability to obtain any
requisite governmental approvals, 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
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. 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 Drilling at Zgounder (core lengths)
Hole ID From To Ag Length (m)* Ag x width
(g/t)
Underground DDH
ZG-SF-24-123 235.0 236.5 88 1.5 132
ZG-SF-24-141 129.5 135.5 626 6.0 3,756
ZG-SF-24-144 182.5 183.5 944 1.0 944
ZG-SF-24-144 196.5 197.5 128 1.0 128
ZG-SF-24-150 18.5 20.0 88 1.5 132
ZG-SF-24-152 55.0 57.0 122 2.0 244
ZG-SF-24-154 84.0 85.0 104 1.0 104
ZG-SF-24-154 91.0 94.0 349 3.0 1,046
ZG-SF-24-155 1.5 6.0 167 4.5 750
ZG-SF-24-155 59.0 63.5 135 4.5 606
ZG-SF-24-156 143.0 145.0 221 2.0 442
ZG-SF-24-159 66.0 67.5 84 1.5 126
ZG-SF-24-160 149.0 150.0 1,856 1.0 1,856
ZG-SF-24-160 153.0 154.0 1,040 1.0 1,040
ZG-SF-24-160 160.0 167.0 419 7.0 2,934
Including 164.0 166.0 915 2.0 1,830
ZG-SF-24-161 113.0 113.5 108 0.5 54
ZG-SF-24-161 114.5 116.0 100 1.5 150
ZG-SF-24-163 116.0 123.0 536 7.0 3,750
ZG-SF-24-164 48.0 49.5 84 1.5 126
ZG-SF-24-164 97.0 109.0 130 12.0 1,558
ZG-SF-24-164 136.0 146.5 657 10.5 6,894
Including 142.0 146.5 1,037 4.5 4,668
ZG-SF-24-164 157.0 158.5 96 1.5 144
ZG-SF-24-180 98.5 107.0 155 8.5 1,315
ZG-SF-24-182 88.5 90.0 112 1.5 168
ZG-SF-24-182 96.0 97.5 376 1.5 564
ZG-SF-24-182 99.0 101.4 103 2.4 247
ZG-SF-24-182 107.4 108.4 88 1.0 88
ZG-SF-24-182 108.9 110.4 356 1.5 534
ZG-SF-24-183 87.2 96.5 376 9.3 3,500
Including 87.2 88.5 1,960 1.3 2,548
DZG-SF-24-078 58.0 59.5 92 1.5 138
DZG-SF-24-081 35.5 45.0 1,339 9.5 12,722
Including 35.5 39.5 2,984 4.0 11,934
DZG-SF-24-087 1.5 3.0 1,356 1.5 2,034
DZG-SF-24-087 27.0 28.5 828 1.5 1,242
DZG-SF-24-089 37.5 42.0 102 4.5 459
DZG-SF-24-089 126.5 129.5 2,522 3.0 7,567
Including 128.0 129.0 7,052 1.0 7,052
DZG-SF-24-093 7.0 8.0 192 1.0 192
DZG-SF-24-097 116.5 122.0 148 5.5 814
DZG-SF-24-098 31.0 35.0 1,244 4.0 4,976
Including 31.0 33.0 2,242 2.0 4,484
DZG-SF-24-101 20.0 21.5 88 1.5 132
DZG-SF-24-103 20.0 22.5 238 2.5 596
DZG-SF-24-103 20.0 28.0 377 8.0 3,014
Including 21.5 23.5 554 2.0 1,108
DZG-SF-24-105 27.0 28.5 80 1.5 120
DZG-SF-24-105 98.0 99.5 192 1.5 288
DZG-SF-24-105 102.5 104.0 124 1.5 186
DZG-SF-24-105 107.0 108.5 2,485 1.5 3,728
DZG-SF-24-107 10.5 16.0 575 5.5 3,164
DZG-SF-24-108 30.0 36.0 747 6.0 4,482
DZG-SF-24-111 4.5 11.0 2,372 6.5 15,420
Including 7.0 9.5 5,674 2.5 14,184
DZG-SF-24-111 20.0 24.5 1,042 4.5 4,690
DZG-SF-24-113 4.5 11.5 583 7.0 4,078
DZG-SF-24-115 6.0 10.5 224 4.5 1,008
DZG-SF-24-117 18.0 19.5 136 1.5 204
DZG-SF-24-118 30.0 32.0 758 2.0 1,516
DZG-SF-24-123 15.5 18.5 791 3.0 2,372
Including 15.5 17.5 1,088 2.0 2,176
DZG-SF-24-124 19.5 21.0 76 1.5 114
DZG-SF-24-125 59.5 60.5 77 1.0 77
DZG-SF-24-125 61.5 62.5 78 1.0 78
DZG-SF-24-125 85.0 88.0 241 3.0 723
DZG-SF-24-129 40.5 41.5 176 1.0 176
DZG-SF-24-129 43.5 44.5 224 1.0 224
DZG-SF-24-129 55.0 56.0 96 1.0 96
DZG-SF-24-129 57.0 57.5 208 0.5 104
DZG-SF-24-129 61.5 73.0 108 11.5 1,244
DZG-SF-24-129 80.5 84.5 173 4.0 690
DZG-SF-24-129 90.5 92.0 264 1.5 396
DZG-SF-24-129 98.0 102.5 196 4.5 884
DZG-SF-24-132 53.0 67.0 190 14.0 2,658
DZG-SF-24-133 28.0 29.0 316 1.0 316
DZG-SF-24-133 46.0 47.0 100 1.0 100
DZG-SF-24-133 48.5 50.0 108 1.5 162
DZG-SF-24-134 34.0 44.5 448 10.5 4,700
Including 43.0 44.5 1,240 1.5 1,860
DZG-SF-24-135 38.5 39.5 144 1.0 144
DZG-SF-24-135 42.5 44.0 168 1.5 252
DZG-SF-24-135 63.5 68.0 89 4.5 402
DZG-SF-24-135 69.5 72.5 354 3.0 1,062
DZG-SF-24-136 13.5 15.0 124 1.5 186
DZG-SF-24-148 15.0 18.0 143 3.0 429
DZG-SF-24-148 32.5 34.0 1,556 1.5 2,334
DZG-SF-24-148 50.5 55.0 176 4.5 794
DZG-SF-24-173 9.0 10.5 104 1.5 156
DZG-SF-24-173 13.5 16.5 269 3.0 808
DZG-SF-24-173 20.5 23.0 434 2.5 1,084
DZG-SF-24-173 37.5 40.5 397 3.0 1,192
Underground T28
TD28-24-1975-211 10.8 12.0 92 1.2 110
TD28-24-1975-211 13.2 16.8 88 3.6 317
TD28-24-1975-216 2.4 4.8 131 2.4 314
TD28-24-1975-221 14.4 18.0 92 3.6 331
TD28-24-1975-224 4.8 6.0 100 1.2 120
TD28-24-1975-224 13.2 14.4 92 1.2 110
TD28-24-1975-227 10.8 12.0 1,328 1.2 1,594
TD28-24-1975-227 13.2 14.4 76 1.2 91
TD28-24-1975-229 6.0 12.0 385 6.0 2,309
Including 6.0 7.2 1,428 1.2 1,714
TD28-24-1975-229 24.0 25.2 76 1.2 91
TD28-24-1975-241 15.6 16.8 108 1.2 130
TD28-24-1975-242 1.2 2.4 84 1.2 101
TD28-24-1975-243 9.6 10.8 140 1.2 168
TD28-24-1975-243 12.0 13.2 88 1.2 106
TD28-24-1975-244 0.0 4.8 183 4.8 878
TD28-24-1975-244 9.6 10.8 100 1.2 120
TD28-24-1975-244 13.2 14.4 84 1.2 101
TD28-24-1975-244 19.2 21.6 80 2.4 192
TD28-24-1975-245 3.6 4.8 108 1.2 130
TD28-24-1975-245 13.2 14.4 92 1.2 110
TD28-24-1975-246 4.8 12.0 131 7.2 943
TD28-24-1975-250 1.2 2.4 160 1.2 192
TD28-24-1975-252 20.4 21.6 76 1.2 91
TD28-24-1975-255 9.6 15.6 283 6.0 1,699
TD28-24-1975-256 19.2 24.0 99 4.8 475
TD28-24-1975-261 12.0 13.2 1,030 1.2 1,236
TD28-24-1975-261 22.8 25.2 574 2.4 1,378
TD28-24-1975-263 15.6 18.0 123 2.4 295
TD28-24-1975-263 20.4 24.0 95 3.6 341
TD28-24-1975-264 3.6 14.4 146 10.8 1,579
TD28-24-1975-265 7.2 8.4 84 1.2 101
TD28-24-1975-265 14.4 20.4 219 6.0 1,315
TD28-24-1975-266 8.4 9.6 220 1.2 264
TD28-24-1975-266 18.0 25.2 605 7.2 4,354
Including 22.8 24.0 2,400 1.2 2,880