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, November 19, 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-24-172 intercepted 2,165 grams per tonne (“g/t”) silver (“Ag”) over 21.0
meters (“m”), including 4,600 g/t Ag over 3.5m
• hole DZG-SF-24-145 intercepted 4,645 g/t Ag over 3.0m, including 6,703 g/t Ag over
2.0m
• hole DZG-SF-24-272 intercepted 1,849 g/t Ag over 5.5m, including 3,894 g/t Ag over
2.5m
• In the Western Zone near the granite contact:
• hole ZG-SF-24-200 intercepted 1,151 g/t Ag over 21.0m, including 3,290 g/t Ag over
6.0m
• In the Eastern Zone near the open-pit area:
• hole DZG-SF-24-153 intercepted 3,955 g/t Ag over 4.0m
• hole ZG-RC-24-028 intercepted 986 g/t Ag over 24.0m, including 4,418 g/t Ag over
4.0m
• hole ZG-RC-24-082 intercepted 1,155 g/t Ag over 16.0m, including 2,335 g/t Ag over
5.0m
• hole ZG-RC-24-031 intercepted 744 g/t Ag over 14.0m
• 28,983m of the 2024 exploration program drilled year to date
"Today's high-grade drill results, including hole DZG-SF-24-172, show good continuity of high-grade
silver mineralization at Zgounder," stated Benoit La Salle, President & CEO. "The multiple silver-rich
intersections within and around the pit area could lead to an increase of the open pit mining rate.
Furthermore, the high-grade intercept at the western extremity, together with the previously
announced ZG-SF-24-141 at the western boundary of the fault, highlight the potential for additional
resource expansion. With four underground, two surface, and one RC rig currently active, we
anticipate a steady flow of results in the coming months to further advance our understanding and
resource growth potential at Zgounder."
Included in this release are results for 458 holes, which include 107 underground diamond drill holes
(“DDH”), 148 reverse circulation (“RC”), 137 T28 and 66 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
(g/t) Length (m)* Ag x width
Underground DDH
ZG-SF-24-170 28.5 35.5 977 7.0 6,836
Including 28.5 31.0 2,432 2.5 6,080
ZG-SF-24-200 265.0 286.0 1,151 21.0 24,166
Including 280.0 286.0 3,290 6.0 19,738
DZG-SF-24-145 13.0 16.0 4,645 3.0 13,934
Including 13.0 15.0 6,703 2.0 13,406
DZG-SF-24-151 17.5 20.0 2,489 2.5 6,222
DZG-SF-24-153 56.0 60.0 3,955 4.0 15,818
DZG-SF-24-172 22.5 43.5 2,165 21.0 45,474
Including 30.5 34.0 4,600 3.5 16,100
DZG-SF-24-247 47.0 66.0 400 19.0 7,596
DZG-SF-24-272 4.0 9.5 1,849 5.5 10,170
Including 4.5 7.0 3,894 2.5 9,736
DZG-SF-24-273 3.0 11.0 1,219 8.0 9,748
Including 7.5 9.5 4,140 2.0 8,280
Surface RC
ZG-RC-24-001 8.0 25.0 504 17.0 8,560
ZG-RC-24-027 11.0 19.0 769 8.0 6,152
Including 11.0 15.0 1,433 4.0 5,732
ZG-RC-24-028 2.0 26.0 986 24.0 23,672
Including 18.0 22.0 4,418 4.0 17,672
ZG-RC-24-028 45.0 55.0 908 10.0 9,076
Including 50.0 54.0 1,900 4.0 7,600
ZG-RC-24-029 5.0 17.0 543 12.0 6,516
ZG-RC-24-029 20.0 37.0 464 17.0 7,892
ZG-RC-24-031 8.0 22.0 744 14.0 10,416
ZG-RC-24-033 25.0 28.0 1,863 3.0 5,588
ZG-RC-24-062 10.0 21.0 370 11.0 4,072
ZG-RC-24-067 74.0 78.0 1,075 4.0 4,300
ZG-RC-24-074 62.0 76.0 387 14.0 5,424
ZG-RC-24-082 24.0 40.0 1,155 16.0 18,472
Including 33.0 38.0 2,335 5.0 11,676
ZG-RC-24-140 11.0 13.0 2,268 2.0 4,536
ZG-RC-24-142 1.0 5.0 1,881 4.0 7,524
Including 2.0 4.0 3,546 2.0 7,092
ZG-RC-24-243 0.0 25.0 420 25.0 10,504
Including 9.0 13.0 1,242 4.0 4,968
Underground T28
TD28-24-2030-329 0.0 9.6 519 9.6 4,982
TD28-24-2030-335 0.0 12.0 718 12.0 8,621
Including 2.4 6.0 1,447 3.6 5,208
TD28-24-2030-338 1.2 25.2 539 24.0 12,926
Including 9.6 15.6 1,558 6.0 9,350
TD28-24-2050-412 19.2 26.4 705 7.2 5,078
Underground YAK
YAKD-24-2000-122 14.4 28.8 931 14.4 13,406
Including 21.6 26.4 2,054 4.8 9,859
YAKD-24-2000-130 22.8 34.8 729 12.0 8,750
Including 24.0 27.6 1,963 3.6 7,066
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, subject to the announcement of September 12, 2024, will
be developed by Mx2 Mining, a new spinout gold-growth company.
Aya’s management team has been focused on maximizing 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 “show”, “lead”, “potential”, “expand”, “anticipate”, “grow”, ,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 capacity for the company to show, through drilling continuity of high grade
mineralisation at Zgounder and the existence of same, the capacity for the company to increase its
open pit mining rate, the capacity and ability for adding resources and growing the resource at
Zgounder, 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), accuracy of mineral reserves and
resource calculations 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
(g/t) Length (m)* Ag x width
Underground DDH
ZG-SF-24-169 51.0 52.0 268 1.0 268
ZG-SF-24-169 63.0 63.5 260 0.5 130
ZG-SF-24-169 77.0 80.5 126 3.5 440
ZG-SF-24-170 7.5 9.0 96 1.5 144
ZG-SF-24-170 28.5 35.5 977 7.0 6,836
Including 28.5 31.0 2,432 2.5 6,080
ZG-SF-24-170 49.0 57.5 92 8.5 784
ZG-SF-24-170 94.0 97.0 200 3.0 600
ZG-SF-24-170 109.0 112.5 1,094 3.5 3,828
ZG-SF-24-171 72.0 73.5 80 1.5 120
ZG-SF-24-171 75.0 76.5 192 1.5 288
ZG-SF-24-171 75.0 78.0 166 3.0 498
ZG-SF-24-171 79.0 79.5 116 0.5 58
ZG-SF-24-171 80.5 81.5 124 1.0 124
ZG-SF-24-172 100.5 101.5 268 1.0 268
ZG-SF-24-172 105.5 109.5 161 4.0 642
Including 105.5 107.0 293 1.5 440
ZG-SF-24-172 113.5 118.0 102 4.5 458
ZG-SF-24-174 16.0 17.5 287 1.5 430
ZG-SF-24-174 18.0 19.0 80 1.0 80
ZG-SF-24-174 57.0 61.5 760 4.5 3,422
ZG-SF-24-185 54.0 57.0 266 3.0 798
ZG-SF-24-188 130.5 132.0 188 1.5 282
ZG-SF-24-188 138.0 141.0 119 3.0 357
ZG-SF-24-188 142.5 144.0 92 1.5 138
ZG-SF-24-190 110.0 111.5 116 1.5 174
ZG-SF-24-190 123.5 125.0 128 1.5 192
ZG-SF-24-192 199.0 202.0 794 3.0 2,382
ZG-SF-24-192 284.0 285.5 76 1.5 114
ZG-SF-24-192 302.0 303.5 84 1.5 126
ZG-SF-24-192 307.5 313.5 147 6.0 882
ZG-SF-24-192 321.0 326.0 112 5.0 562
ZG-SF-24-194 140.0 141.5 268 1.5 402
ZG-SF-24-194 151.5 154.5 1,040 3.0 3,120
ZG-SF-24-195 6.2 7.5 128 1.3 166
ZG-SF-24-195 10.5 13.0 124 2.5 310
ZG-SF-24-198 201.5 203.0 208 1.5 312
ZG-SF-24-198 225.5 227.0 88 1.5 132
ZG-SF-24-198 228.5 230.0 88 1.5 132
ZG-SF-24-199 129.5 130.5 642 1.0 642
ZG-SF-24-200 204.0 208.5 208 4.5 936
ZG-SF-24-200 265.0 286.0 1,151 21.0 24,166
Including 273.0 275.0 1,356 2.0 2,712
Including 280.0 286.0 3,290 6.0 19,738
ZG-SF-24-200 322.0 323.0 168 1.0 168
ZG-SF-24-200 326.5 327.0 188 0.5 94
ZG-SF-24-200 329.0 330.0 120 1.0 120
ZG-SF-24-200 346.5 348.0 192 1.5 288
ZG-SF-24-200 352.5 354.0 104 1.5 156
ZG-SF-24-200 364.5 366.0 204 1.5 306
ZG-SF-24-202 109.0 110.5 700 1.5 1,050
ZG-SF-24-202 135.5 136.5 80 1.0 80
ZG-SF-24-202 137.5 138.0 80 0.5 40
ZG-SF-24-205 4.5 6.0 80 1.5 120
ZG-SF-24-205 182.0 184.1 90 2.1 189
ZG-SF-24-212 9.0 10.5 96 1.5 144
ZG-SF-24-212 135.5 138.5 134 3.0 402
ZG-SF-24-239 42.5 45.0 242 2.5 604
ZG-SF-24-239 54.5 56.0 144 1.5 216
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 64.0 110 2.5 276
DZG-SF-24-129 67.5 73.0 143 5.5 788
DZG-SF-24-129 80.5 84.5 173 4.0 690
DZG-SF-24-141 1.5 3.0 88 1.5 132
DZG-SF-24-144 36.0 37.5 76 1.5 114
DZG-SF-24-145 0.0 1.0 96 1.0 96
DZG-SF-24-145 2.0 3.5 620 1.5 930
DZG-SF-24-145 6.5 8.0 360 1.5 540
DZG-SF-24-145 13.0 16.0 4,645 3.0 13,934
Including 13.0 15.0 6,703 2.0 13,406
DZG-SF-24-146 4.0 11.5 205 7.5 1,536
DZG-SF-24-149 33.0 39.0 643 6.0 3,860
Including 34.0 35.5 2,176 1.5 3,264
DZG-SF-24-149 55.0 56.0 76 1.0 76
DZG-SF-24-150 38.0 39.5 128 1.5 192
DZG-SF-24-150 44.0 49.5 292 5.5 1,606
DZG-SF-24-151 17.5 20.0 2,489 2.5 6,222
DZG-SF-24-151 24.0 26.0 384 2.0 768
DZG-SF-24-153 13.5 15.0 120 1.5 180
DZG-SF-24-153 16.0 17.0 104 1.0 104
DZG-SF-24-153 56.0 60.0 3,955 4.0 15,818
DZG-SF-24-154 16.0 17.0 92 1.0 92