Aya Gold & Silver Reports Zgounder Near Pit and At-Depth High-Grade Silver Drill Results
PRESS RELEASE
Aya Gold & Silver Reports Zgounder Near Pit and At-Depth
High-Grade Silver Drill Results
Montreal, Quebec, January 7, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce 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 Eastern Zone near the open-pit area:
• Hole ZG-RC-24-277 intercepted 2,425 g/t grams per tonne (“g/t”) silver (“Ag”) over 17.0
meters (“m”), including 6,311 g/t Ag over 5.0m
• Hole ZG-RC-24-228 intercepted 1,356 g/t Ag over 20.0m, including 1,799 g/t Ag over
14.0m
• Hole ZG-RC-24-345 intercepted 876 g/t Ag over 16.0m, including 2,018 g/t Ag over 5.0m
• Hole ZG-RC-24-154 intercepted 711g/t Ag over 19.0m, including 1,229 g/t Ag over 7.0m
• In the Central Zone from the 1,950m level:
• Hole DZG-SF-24-219 intercepted 321 g/t Ag over 21.0 m, and 396 g/t Ag over 11.0m
• Hole DZG-SF-24-293 intercepted 1,119 g/t Ag over 6.0m, including 2,432 g/t Ag over
2.5m
• At depth near the granite contact:
• Hole ZG-SF-24-206 intercepted 1,071 g/t Ag over 3.5m, and 1,299 g/t Ag over 3.5m
including 3,640 g/t Ag over 1.0m
• Hole ZG-SF-24-218 intercepted 636 g/t Ag over 11.0m including 1,560 g/t Ag over 4.0m
• 34,809m of the 2024 exploration program drilled year to date
“Today’s high-grade silver drill results, particularly from holes ZG-RC-24-277 and ZG-RC-24-228,
confirm the continuity of silver mineralization at Zgounder,” said Benoit La Salle, President & CEO.
“The exceptional intercepts from these holes highlight the potential to significantly increase high-
grade ounces within and near the open pit area, strengthening our confidence in expanding open-pit
operations in the near term. Additionally, high-grade intercepts near the granite contact, such as
ZG-SF-24-206 and ZG-SF-24-218, further emphasize the opportunity for resource expansion at
depth. With four underground and one RC rig currently active, we anticipate a steady flow of results
in the coming months to further enhance our understanding and resource potential.”
Included in this release are results from 291 holes, which include 6 surface Diamond Drill (“DDH”), 99
underground DDH, 123 Reverse Circulation (“RC”), 41 T28 and 22 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-24-206 273.5 277.0 1 071 3.5 3 748
ZG-SF-24-206 298.5 302.0 1 299 3.5 4 548
Including 298.5 299.5 3 640 1.0 3 640
ZG-SF-24-218 129.0 140.0 636 11.0 6 996
Including 133.0 137.0 1 560 4.0 6 238
DZG-SF-24-163 6.0 7.5 4 720 1.5 7 080
DZG-SF-24-187 28.5 38.0 493 9.5 4 682
DZG-SF-24-188 31.5 46.0 412 14.5 5 979
DZG-SF-24-219 13.5 34.5 321 21.0 6 736
DZG-SF-24-219 44.0 55.0 396 11.0 4 352
DZG-SF-24-293 34.0 40.0 1 119 6.0 6 712
Including 34.0 36.5 2 432 2.5 6 080
Surface RC
ZG-RC-24-153 61.0 65.0 1 681 4.0 6 724
ZG-RC-24-154 19.0 38.0 711 19.0 13 512
Including 19.0 26.0 1 229 7.0 8 604
ZG-RC-24-167 0.0 7.0 1 153 7.0 8 068
Including 3.0 5.0 3 680 2.0 7 360
ZG-RC-24-168 24.0 40.0 609 16.0 9 748
Including 35.0 38.0 2 132 3.0 6 396
ZG-RC-24-169 20.0 42.0 485 22.0 10 680
Including 23.0 26.0 1 331 3.0 3 992
ZG-RC-24-220 1.0 20.0 211 19.0 4 016
ZG-RC-24-228 25.0 45.0 1 356 20.0 27 128
Including 28.0 42.0 1 799 14.0 25 192
ZG-RC-24-234 0.0 2.0 3 660 2.0 7 320
ZG-RC-24-234 6.0 7.0 7 040 1.0 7 040
ZG-RC-24-235 0.0 13.0 778 13.0 10 116
Including 0.0 1.0 6 880 1.0 6 880
ZG-RC-24-277 33.0 50.0 2 425 17.0 41 232
Including 37.0 42.0 6 311 5.0 31 556
ZG-RC-24-303 22.0 28.0 1 970 6.0 11 820
ZG-RC-24-318 8.0 17.0 1 143 9.0 10 284
Including 12.0 14.0 4 598 2.0 9 196
ZG-RC-24-318 35.0 47.0 580 12.0 6 965
Including 35.0 39.0 1 001 4.0 4 004
ZG-RC-24-345 15.0 31.0 876 16.0 14 016
Including 22.0 27.0 2 018 5.0 10 092
ZG-RC-24-347 26.0 29.0 2 369 3.0 7 108
ZG-RC-24-353 8.0 10.0 2 288 2.0 4 576
ZG-RC-24-355 0.0 20.0 555 20.0 11 092
Including 9.0 12.0 1 692 3.0 5 076
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 “confirm”, “potential”, “significant”, “confidence”, “expansion”,
“steady”, “enhance” ,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 continuity of
the mineralization and its grade, the potential to significantly increase high-grade ounces within and
near the open pit area, expanding open-pit operations in the near term , enhancing the resource and
better understanding the deposit as well as exploration results in the open-pit and underground areas.
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 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)
Surface DDH
ZG-24-103 9.0 10.5 92 1.5 138
ZG-24-103 12.0 13.5 88 1.5 132
ZG-24-107 20.0 21.0 144 1.0 144
ZG-24-108 8.0 9.5 96 1.5 144
ZG-24-108 13.0 14.0 104 1.0 104
ZG-24-109 46.5 51.0 175 4.5 786
ZG-24-109 60.0 61.5 88 1.5 132
ZG-24-109 68.5 69.5 80 1.0 80
Underground DDH
ZG-SF-24-167 92.0 93.5 76 1.5 114
ZG-SF-24-196 214.5 215.0 76 0.5 38
ZG-SF-24-197 56.5 58.0 269 1.5 404
ZG-SF-24-197 65.5 66.5 184 1.0 184
ZG-SF-24-206 248.0 249.0 148 1.0 148
ZG-SF-24-206 273.5 277.0 1 071 3.5 3 748
ZG-SF-24-206 291.5 293.0 80 1.5 120
ZG-SF-24-206 298.5 302.0 1 299 3.5 4 548
Including 298.5 299.5 3 640 1.0 3 640
ZG-SF-24-206 308.0 309.0 156 1.0 156
ZG-SF-24-206 317.0 318.0 112 1.0 112
ZG-SF-24-218 129.0 140.0 636 11.0 6 996
Including 133.0 137.0 1 560 4.0 6 238
ZG-SF-24-241 115.5 116.0 124 0.5 62
DZG-SF-24-155 15.0 21.0 146 6.0 876
DZG-SF-24-159 1.5 7.5 146 6.0 876
DZG-SF-24-159 15.0 16.5 76 1.5 114
DZG-SF-24-159 33.0 34.0 100 1.0 100
DZG-SF-24-159 47.0 48.5 96 1.5 144
DZG-SF-24-160 7.5 9.0 84 1.5 126
DZG-SF-24-162 13.5 21.0 95 7.5 710
DZG-SF-24-162 34.5 36.0 93 1.5 140
DZG-SF-24-162 64.0 65.0 260 1.0 260
DZG-SF-24-163 1.5 4.5 108 3.0 324
DZG-SF-24-163 6.0 7.5 4 720 1.5 7 080
DZG-SF-24-163 13.5 15.0 384 1.5 576
DZG-SF-24-163 27.0 28.5 104 1.5 156
DZG-SF-24-165 46.0 47.0 240 1.0 240
DZG-SF-24-167 30.0 31.5 128 1.5 192
DZG-SF-24-167 36.0 37.5 104 1.5 156
DZG-SF-24-180 39.0 40.5 128 1.5 192
DZG-SF-24-185 1.5 3.0 1 008 1.5 1 512
DZG-SF-24-186 39.0 40.0 92 1.0 92
DZG-SF-24-187 28.5 38.0 493 9.5 4 682
Including 35.5 38.0 1 050 2.5 2 626
DZG-SF-24-188 31.5 46.0 412 14.5 5 979
Including 31.5 33.0 1 274 1.5 1 911
DZG-SF-24-189 29.5 32.5 144 3.0 432
DZG-SF-24-210 21.5 24.5 194 3.0 582
DZG-SF-24-210 30.0 31.0 300 1.0 300
DZG-SF-24-211 10.5 12.0 340 1.5 510
DZG-SF-24-218 20.0 21.5 312 1.5 468
DZG-SF-24-219 13.5 34.5 321 21.0 6 736
Including 20.0 21.0 3 310 1.0 3 310
DZG-SF-24-219 44.0 55.0 396 11.0 4 352
Including 44.0 46.5 1 117 2.5 2 792
DZG-SF-24-221 17.5 22.5 285 5.0 1 424
DZG-SF-24-224 14.0 18.0 655 4.0 2 618
Including 14.5 15.5 2 372 1.0 2 372
DZG-SF-24-224 51.0 52.5 144 1.5 216
DZG-SF-24-224 55.5 56.5 84 1.0 84
DZG-SF-24-226 57.0 60.0 299 3.0 896
DZG-SF-24-228 17.0 25.5 123 8.5 1 044
DZG-SF-24-228 31.5 33.0 88 1.5 132
DZG-SF-24-228 42.0 43.5 152 1.5 228
DZG-SF-24-228 46.0 47.0 160 1.0 160
DZG-SF-24-228 55.0 60.0 250 5.0 1 252
DZG-SF-24-248 18.0 19.5 116 1.5 174
DZG-SF-24-248 24.0 25.5 120 1.5 180
DZG-SF-24-248 28.5 31.0 144 2.5 360
DZG-SF-24-248 34.0 39.0 625 5.0 3 126
Including 34.5 35.5 2 194 1.0 2 194
DZG-SF-24-250 15.0 16.0 148 1.0 148
DZG-SF-24-250 22.5 24.0 184 1.5 276
DZG-SF-24-251 6.0 7.5 340 1.5 510
DZG-SF-24-251 15.5 19.5 227 4.0 906
DZG-SF-24-251 25.0 28.0 521 3.0 1 564
DZG-SF-24-252 18.5 20.0 128 1.5 192
DZG-SF-24-252 24.5 30.5 115 6.0 688
DZG-SF-24-254 13.0 14.5 248 1.5 372
DZG-SF-24-255 19.0 21.0 546 2.0 1 092
DZG-SF-24-255 27.0 28.0 88 1.0 88
DZG-SF-24-255 29.0 30.0 100 1.0 100
DZG-SF-24-255 33.5 34.5 204 1.0 204
DZG-SF-24-255 47.0 48.5 132 1.5 198
DZG-SF-24-256 20.5 22.0 84 1.5 126
DZG-SF-24-256 23.0 24.0 88 1.0 88
DZG-SF-24-256 26.0 27.0 84 1.0 84
DZG-SF-24-256 32.5 33.5 96 1.0 96
DZG-SF-24-256 34.5 35.5 84 1.0 84
DZG-SF-24-256 38.0 39.0 124 1.0 124
DZG-SF-24-257 24.5 27.5 320 3.0 960
DZG-SF-24-257 36.5 39.5 312 3.0 936
DZG-SF-24-257 44.0 47.0 188 3.0 564
DZG-SF-24-257 54.5 56.0 164 1.5 246
DZG-SF-24-258 39.5 40.5 112 1.0 112
DZG-SF-24-259 23.5 32.0 116 8.5 984
DZG-SF-24-259 42.0 43.0 200 1.0 200
DZG-SF-24-260 10.0 11.0 268 1.0 268
DZG-SF-24-260 37.0 38.5 184 1.5 276
DZG-SF-24-260 52.5 57.5 559 5.0 2 794
Including 52.5 53.0 4 080 0.5 2 040
DZG-SF-24-260 60.5 62.0 128 1.5 192
DZG-SF-24-261 47.0 48.0 1 208 1.0 1 208
Including 38.0 47.0 213 9.0 1 914
DZG-SF-24-261 58.0 59.0 92 1.0 92
DZG-SF-24-262 34.5 48.5 102 14.0 1 424
DZG-SF-24-263 30.5 40.0 109 9.5 1 036
DZG-SF-24-264 17.0 22.0 83 5.0 416
DZG-SF-24-264 51.5 54.5 112 3.0 336
DZG-SF-24-265 1.0 2.0 164 1.0 164
DZG-SF-24-265 6.0 7.0 320 1.0 320
DZG-SF-24-266 29.5 30.5 100 1.0 100
DZG-SF-24-266 32.5 34.0 100 1.5 150
DZG-SF-24-267 21.5 22.5 152 1.0 152
DZG-SF-24-267 26.0 27.0 148 1.0 148
DZG-SF-24-267 42.0 43.0 76 1.0 76
DZG-SF-24-267 54.0 55.0 84 1.0 84
DZG-SF-24-280 24.0 25.5 140 1.5 210
DZG-SF-24-280 31.5 33.0 288 1.5 432
DZG-SF-24-293 34.0 40.0 1 119 6.0 6 712
Including 34.0 36.5 2 432 2.5 6 080
DZG-SF-24-294 43.5 45.0 284 1.5 426
DZG-SF-24-294 54.0 55.5 276 1.5 414
DZG-SF-24-299 1.5 3.0 348 1.5 522
DZG-SF-24-331 47.0 48.0 80 1.0 80
DZG-SF-24-331 51.0 52.0 116 1.0 116
DZG-SF-24-331 56.0 57.0 104 1.0 104
DZG-SF-24-333 45.0 50.0 254 5.0 1 268
DZG-SF-24-334 10.5 13.5 188 3.0 564
DZG-SF-24-334 16.5 18.0 80 1.5 120