Aya Gold & Silver: Step-out Drilling Extends High-Grade Continuity at Zgounder
PRESS RELEASE
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Aya Gold & Silver: Step-out Drilling Extends High-Grade Continuity at Zgounder
Montreal, Quebec, September 13, 2022 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce high-grade silver results and further continuity from its ongoing
drilling program at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
o High-grade definition of working galleries just below the 2,075-meter (“m”) level with TD-22-2075-
155, which intercepted 7,480 grams per tonne (“g/t”) silver (“Ag”) over 4.8m including
▪ 16,320 g/t Ag over 1.2m
▪ 11,750 g/t Ag over 1.2m
and with TD28-22-2075-158, which intercepted 1,094 g/t Ag over 4.8m including
▪ 1,840 g/t Ag over 1.2m
▪ 1,620 g/t Ag over 1.2m
o Opening of a new central zone below the 1,975m level with DZG-SF-22-102, which intercepted
2,164 g/t Ag over 7.0m including
▪ 18,000 g/t Ag over 0.5m
▪ 4,354 g/t Ag over 0.5m
and with DZG-SF-22-110, which intercepted 958 g/t Ag over 4.5m including
▪ 4,640 g/t Ag over 0.5m
o Established continuity of a central area at the 1,950m level by DZG-SF-22-67, which intercepted
3,114 g/t Ag over 3.0m including
▪ 4,160 g/t Ag over 1.0m
▪ 2,400 g/t Ag over 1.5m
“Today’s step-out results meaningfully grow the boundarie s of the known mineralization at Zgounder
across multiple zones, with high-grade intercept TD-22-2075-155 extending a known zone down dip and
highlighting near-surface potential. Additionally, holes DZG-SF-22-102, -110, and -112 represent a cluster
of significant intervals that open up a new high-grade zone below the 1,975-meter level. We continue to
see continuity of high-grade mineralization, giving us confidence of additional exploration success and
resource expansion at Zgounder where three surface drill rigs are currently turning,” said Benoit La Salle,
President & CEO.
Included in this release are results for 45 holes, which include 1 surface diamond drill hole (“ DDH”), 16
underground DDH, 18 T28 and 10 YAK (T28 & YAK: percussion drilling using an air-compressed hammer)
holes. For a full summary of today’s results, refer to Appendixes 1 and 2.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
Hole No. From (m) To (m) Length1 (m) Ag2 (g/t)
Surface
ZG-22-61
60.50 62.00 1.50 120
66.00 66.50 0.50 1,856
177.50 180.50 3.00 285
Underground
DZG-SF-22-102
2.50 3.50 1.00 240
8.00 15.00 7.00 2,164
including 0.50 4,354
including 0.50 18,000
including 0.50 2,320
18.50 21.00 2.50 311
DZG-SF-22-110
1.50 6.00 4.50 958
including 1.00 1,520
including 0.50 4,640
11.00 12.50 1.50 254
DZG-SF-22-112
6.00 17.50 11.50 272
including 1.50 1,512
DZG-SF-22-67
1.50 3.00 1.50 76
37.50 39.00 1.50 2,400
47.50 48.50 1.00 230
54.00 57.00 3.00 3,114
including 0.50 2,058
including 1.00 4,160
including 0.50 3,740
including 0.50 4,208
65.50 67.00 1.50 561
91.00 92.50 1.50 566
DZG-SF-22-68
13.50 15.00 1.50 156
33.00 34.50 1.50 96
81.50 83.50 2.00 959
including 0.50 3,520
TD28-22-2075-151
4.80 6.00 1.20 2,800
19.20 26.40 7.20 206
TD28-22-2075-152 22.80 25.20 2.40 1,532
TD28-22-2075-154 19.20 26.40 7.20 1,052
including 1.20 1,811
including 1.20 2,635
TD28-22-2075-155
0.00 1.20 1.20 77
16.80 21.60 4.80 7,480
including 1.20 1,396
including 1.20 16,320
including 1.20 11,750
TD28-22-2075-157
0.00 2.40 2.40 758
6.00 9.60 3.60 1,359
including 1.20 1,488
including 1.20 1,060
including 1.20 1,528
TD28-22-2075-158
0.00 4.80 4.80 1,094
including 1.20 1,840
including 1.20 1,620
12.00 24.00 12.00 173
YAKD-22-1975-038 30.00 50.40 20.40 217
YAKD-22-1975-040
18.00 28.80 10.80 383
including 1.20 1,440
36.00 37.20 1.20 92
YAKD-22-2125-061
20.40 22.80 2.40 958
including 1.20 1,536
30.00 31.20 1.20 119
33.60 34.80 1.20 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.
Figure 1: Location of DDH Results at Zgounder as per Appendixes 1 & 2
Quality Assurance
For core drilling, all individual samples represent approximately one metre 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 sample s represent 1.2m in len gth.
Samples are assayed at either the Zgounder Mine Laboratory (“ZMSM”) 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.
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 prospects (including the timing and
development of n ew deposits and the success of exploration activities) and other opportunities.
Wherever possible, words such as “confirm”, “grow”, “de-risk”, “expect”, “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 available to management and based upon what management believes
to be reasonable assum ptions, 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 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 2021 Annual Information Form dated June 16, 2022, and in other filings of Aya with
securities and regulatory authorities which ar e 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 solicitation 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-22-61
60.50 62.00 1.50 120
66.00 66.50 0.50 1,856
177.50 180.50 3.00 285
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)
DZG-SF-22-102
2.50 3.50 1.00 240
8.00 15.00 7.00 2,164
including 0.50 4,354
including 0.50 18,000
including 0.50 2,320
DZG-SF-22-104 11.00 11.50 0.50 88
DZG-SF-22-106
12.00 13.50 1.50 471
16.50 18.00 1.50 88
DZG-SF-22-108
1.50 7.50 6.00 117
16.50 18.00 1.50 76
DZG-SF-22-110
1.50 6.00 4.50 958
including 1.00 1,520
including 0.50 4,640
11.00 12.50 1.50 254
DZG-SF-22-110 19.50 21.00 1.50 92
DZG-SF-22-112
6.00 17.50 11.50 272
including 1.50 1,512
DZG-SF-22-115
32.50 33.50 1.00 80
39.50 46.50 7.00 222
49.50 52.00 2.50 602
55.00 60.00 5.00 171
DZG-SF-22-116 48.00 52.50 4.50 85
DZG-SF-22-117
33.50 61.00 13.00 41
65.50 70.00 3.00 56
105.00 106.50 1.50 160
DZG-SF-22-118 33.00 38.50 5.50 199
DZG-SF-22-119 33.00 34.00 1.00 464
DZG-SF-22-66
34.00 38.50 4.50 108
42.00 43.50 1.50 188
49.50 52.50 3.00 502
61.50 63.00 1.50 76
DZG-SF-22-67
1.50 3.00 1.50 76
37.50 39.00 1.50 2,400
47.50 48.50 1.00 230
54.00 57.00 3.00 3,114
including 0.50 2,058
including 1.00 4,160
including 0.50 3,740
including 0.50 4,208
65.50 67.00 1.50 561
91.00 92.50 1.50 566
DZG-SF-22-68
13.50 15.00 1.50 156
33.00 34.50 1.50 96
81.50 83.50 2.00 959
including 0.50 3,520
DZG-SF-22-80
25.00 28.00 3.00 266
32.00 33.00 1.00 80
35.00 35.50 0.50 77
37.00 37.50 0.50 140
T28 Drilling
T28-22-1975-03 0.00 2.40 2.40 164
TD28-22-1975-109 0.00 1.20 1.20 84
TD28-22-2075-151
4.80 6.00 1.20 2,800
19.20 26.40 7.20 206
TD28-22-2075-152 22.80 25.20 2.40 1,532
TD28-22-2075-153 21.60 25.20 3.60 863
TD28-22-2075-154
19.20 26.40 7.20 1,052
including 1.20 1,811
including 1.20 2,635
TD28-22-2075-155
0.00 1.20 1.20 77
16.80 21.60 4.80 7,480
including 1.20 1,396
including 1.20 16,320
including 1.20 11,750
TD28-22-2075-157
0.00 2.40 2.40 758
6.00 9.60 3.60 1,359
including 1.20 1,488
including 1.20 1,060
including 1.20 1,528
TD28-22-2075-158
0.00 4.80 4.80 1,094
including 1.20 1,840
including 1.20 1,620
12.00 24.00 12.00 17
TD28-22-2075-162 6.00 7.20 1.20 88
TD28-22-2125-206 14.40 18.00 3.60 696
TD28-22-2125-212 21.60 26.40 4.80 655
TD28-22-2125-213 1.20 2.40 1.20 128
TD28-22-2125-220 22.80 24.00 1.20 76
TD28-22-2125-224 7.20 8.40 1.20 94
TD28-22-2125-224 15.60 18.00 2.40 103
TD28-22-2125-228 22.80 26.40 2.40 70
TD28-22-2125-229 8.40 13.20 3.60 109
YAK Drilling
YAKD-22-1975-038 30.00 50.40 20.40 217
YAKD-22-1975-039
18.00 19.20 1.20 76
24.00 28.80 4.80 143
YAKD-22-1975-040
18.00 28.80 10.80 383
including 1.20 1,440
36.00 37.20 1.20 92
YAKD-22-1975-041 24.00 26.40 2.40 315
YAKD-22-2075-044 18.00 19.20 1.20 128
YAKD-22-2075-044 36.00 38.40 2.40 98