MONTREAL, Oct. 12, 2023 - Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) ("Aya" or the "Corporation") is pleased to announce high-grade silver drill results and the acquisition of new adjacent exploration permits at the Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights (all intersections are in core lengths)
In the open-pit area to the east, reverse circulation ("RC") drill hole ZG-RC-C3-23-25 intercepted 480 grams per tonne ("g/t") silver ("Ag") over 17 meters ("m"), including 1,156 g/t Ag over 5.0m and ZG-RC-C3-23-36 intercepted 1,043 g/t Ag over 5.0m
In the Central Zone from the 1,975m level:
hole TD28-23-1975-767 intercepted 1,706 g/t Ag over 7.2m, including 4,688 g/t Ag over 2.4m
hole TD28-23-1975-770 intercepted 3,065 g/t Ag over 4.8m
In the Central Zone from the 1,950m level:
hole TD28-23-1950-669 intercepted 933 g/t Ag over 9.6m, including
1,576 g/t Ag over 4.8m
hole TD28-23-1950-665 intercepted 1,653 g/t Ag over 4.8m, including
3,166 g/t Ag over 2.4m
Acquisition of 62.6 square kilometers ("km²") of exploration permits less than 25km east of Zgounder as part of a reallocation of exploration permits by the Moroccan Directorate of Mines (Figure 2).
"Acquisition of this new prospective exploration ground boosts the total Zgounder land package to over 425km², increasing the potential for satellite deposits," said Benoit La Salle, President & CEO. "We are also very encouraged by the ongoing high-grade results from both the open-pit and underground drilling, reconfirming the continuity of high-grade mineralization at Zgounder."
Included in this release are results for 209 holes, which include 4 underground DDH, 52 RC drill hole from pit definition drilling, 122 T28 and 31 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)
Surface RC
ZG-RC-C3-23-21
1.0
8.0
478
7.0
3,348
Including
1.0
3.0
1,304
2.0
2,608
ZG-RC-C3-23-25
13.0
30.0
480
17.0
8,160
Including
25.0
30.0
1,156
5.0
5,781
ZG-RC-C3-23-29
28.0
33.0
720
5.0
3,600
ZG-RC-C3-23-33
0.0
10.0
379
10.0
3,793
ZG-RC-C3-23-36
28.0
33.0
1,043
5.0
5,216
ZG-RC-C3-23-44
0.0
11.0
270
11.0
2,967
ZG-RC-C3-23-51
7.0
17.0
206
10.0
2,061
Underground T28
TD28-23-1950-665
9.6
14.4
1,653
4.8
7,933
Including
9.6
12.0
3,166
2.4
7,597
TD28-23-1950-668
4.8
14.4
598
9.6
5,736
Including
4.8
10.8
837
6.0
5,023
TD28-23-1950-669
6.0
15.6
933
9.6
8,954
Including
9.6
14.4
1,576
4.8
7,565
TD28-23-1950-677
3.6
9.6
342
6.0
2,050
TD28-23-1950-677
16.8
26.4
623
9.6
5,978
Including
22.8
26.4
1,335
3.6
4,806
TD28-23-1950-679
9.6
13.2
940
3.6
3,383
TD28-23-1950-679
16.8
26.4
259
9.6
2,489
TD28-23-1950-683
3.6
10.8
294
7.2
2,114
TD28-23-1950-683
18.0
26.4
422
8.4
3,542
TD28-23-1950-698
8.4
14.4
528
6.0
3,168
Including
8.4
10.8
1,077
2.4
2,585
TD28-23-1975-767
12.0
19.2
1,706
7.2
12,286
Including
13.2
15.6
4,688
2.4
11,251
TD28-23-1975-767
22.8
26.4
1,474
3.6
5,305
TD28-23-1975-770
21.6
26.4
3,065
4.8
14,711
TD28-23-2000-797
12.0
16.8
639
4.8
3,066
Including
14.4
16.8
1,151
2.4
2,762
TD28-23-2000-803
4.8
7.2
910
2.4
2,184
TD28-23-2000-806
16.8
22.8
744
6.0
4,461
Including
16.8
20.4
1,163
3.6
4,185
TD28-23-2030-788
3.6
18.0
272
14.4
3,912
TD28-23-2030-793
10.8
14.4
1,162
3.6
4,185
TD28-23-2100-844
12.0
19.2
785
7.2
5,649
Including
12.0
14.4
2,040
2.4
4,897
Underground YAK
YAKD-23-1975-216
21.6
25.2
1,277
3.6
4,598
YAKD-23-1975-219
42.0
45.6
1,581
3.6
5,691
YAKD-23-2000-226
22.8
28.8
524
6.0
3,145
YAKD-23-2000-230
8.4
16.8
443
8.4
3,725
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.
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, Head of 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.
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", "increase", "potential", "encouraged", "continuity", "potential", 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, 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 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 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 2022 Annual Information Form dated March 31, 2023, 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 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
DZG-SF-23-201
25.0
26.0
842
1.0
842
DZG-SF-23-201
30.5
32.0
81
1.5
122
DZG-SF-23-201
75.0
76.5
76
1.5
114
DZG-SF-23-204
28.0
29.0
1,026
1.0
1,026
DZG-SF-23-205
33.0
36.5
141
3.5
492
DZG-SF-23-205
41.0
42.0
167
1.0
167
DZG-SF-23-205
46.0
47.0
203
1.0
203
DZG-SF-23-206
37.5
38.5
608
1.0
608
DZG-SF-23-206
42.0
43.5
79
1.5
118
Surface RC
ZG-RC-C3-23-03
0.0
1.0
103
1.0
103
ZG-RC-C3-23-03
5.0
6.0
184
1.0
184
ZG-RC-C3-23-05
0.0
1.0
114
1.0
114
ZG-RC-C3-23-05
3.0
6.0
129
3.0
388
ZG-RC-C3-23-05
12.0
14.0
107
2.0
214
ZG-RC-C3-23-05
15.0
16.0
108
1.0
108
ZG-RC-C3-23-06
0.0
1.0
108
1.0
108
ZG-RC-C3-23-06
13.0
14.0
104
1.0
104
ZG-RC-C3-23-06
25.0
28.0
314
3.0
942
ZG-RC-C3-23-06
40.0
41.0
282
1.0
282
ZG-RC-C3-23-07
6.0
9.0
115
3.0
344
ZG-RC-C3-23-08
1.0
7.0
134
6.0
802
ZG-RC-C3-23-09
6.0
7.0
88
1.0
88
ZG-RC-C3-23-10
7.0
8.0
91
1.0
91
ZG-RC-C3-23-10
12.0
14.0
209
2.0
418
ZG-RC-C3-23-11
0.0
1.0
288
1.0
288
ZG-RC-C3-23-11
5.0
6.0
82
1.0
82
ZG-RC-C3-23-12
6.0
7.0
79
1.0
79
ZG-RC-C3-23-12
16.0
17.0
150
1.0
150
ZG-RC-C3-23-14
6.0
9.0
123
3.0
368
ZG-RC-C3-23-14
44.0
45.0
517
1.0
517
ZG-RC-C3-23-17
7.0
11.0
106
4.0
423
ZG-RC-C3-23-19
0.0
1.0
96
1.0
96
ZG-RC-C3-23-20
0.0
1.0
130
1.0
130
ZG-RC-C3-23-20
4.0
9.0
141
5.0
705
ZG-RC-C3-23-21
1.0
8.0
478
7.0
3,348
Including
1.0
3.0
1,304
2.0
2,608
ZG-RC-C3-23-21
26.0
31.0
283
5.0
1,413
ZG-RC-C3-23-21
33.0
34.0
112
1.0
112
ZG-RC-C3-23-21
37.0
38.0
119
1.0
119
ZG-RC-C3-23-22
3.0
12.0
149
9.0
1,341
ZG-RC-C3-23-22
26.0
28.0
121
2.0
242
ZG-RC-C3-23-25
7.0
8.0
91
1.0
91
ZG-RC-C3-23-25
13.0
30.0
480
17.0
8,160
Including
25.0
30.0
1,156
5.0
5,781
ZG-RC-C3-23-27
0.0
12.0
111
12.0
1,335
ZG-RC-C3-23-27
19.0
20.0
92
1.0
92
ZG-RC-C3-23-28
0.0
1.0
176
1.0
176
ZG-RC-C3-23-28
4.0
6.0
126
2.0
252
ZG-RC-C3-23-29
0.0
1.0
110
1.0
110
ZG-RC-C3-23-29
4.0
11.0
186
7.0
1,302
ZG-RC-C3-23-29
15.0
18.0
537
3.0
1,612
ZG-RC-C3-23-29
19.0
20.0
88
1.0
88
ZG-RC-C3-23-29
28.0
33.0
720
5.0
3,600
ZG-RC-C3-23-33
0.0
10.0
379
10.0
3,793
ZG-RC-C3-23-35
8.0
9.0
99
1.0
99
ZG-RC-C3-23-35
12.0
14.0
155
2.0
310
ZG-RC-C3-23-36
28.0
33.0
1,043
5.0
5,216
ZG-RC-C3-23-40
13.0
14.0
121
1.0
121
ZG-RC-C3-23-44
0.0
11.0
270
11.0
2,967
Including
0.0
2.0
866
2.0
1,732
ZG-RC-C3-23-47
0.0
1.0
82
1.0
82
ZG-RC-C3-23-47
17.0
19.0
249
2.0
498
ZG-RC-C3-23-48
0.0
2.0
180
2.0
359
ZG-RC-C3-23-48
7.0
11.0
129
4.0
515
ZG-RC-C3-23-49
0.0
1.0
220
1.0
220
ZG-RC-C3-23-49
2.0
3.0
118
1.0
118
ZG-RC-C3-23-50
2.0
3.0
86
1.0
86
ZG-RC-C3-23-50
8.0
11.0
163
3.0
490
ZG-RC-C3-23-51
0.0
4.0
128
4.0
510
ZG-RC-C3-23-51
7.0
17.0
206
10.0
2,061
ZG-RC-C3-23-52
0.0
1.0
132
1.0
132
ZG-RC-C3-23-52
8.0
10.0
121
2.0
242
Underground T28
TD28-23-1950-661
7.2
10.8
142
3.6
512
TD28-23-1950-664
10.8
12.0
200
1.2
240
TD28-23-1950-664
13.2
14.4
100
1.2
120
TD28-23-1950-664
25.2
26.4
82
1.2
98
TD28-23-1950-665
9.6
14.4
1,653
4.8
7,933
Including
9.6
12.0
3,166
2.4
7,597
TD28-23-1950-665
16.8
18.0
91
1.2
109
TD28-23-1950-665
20.4
21.6
138
1.2
166
TD28-23-1950-667
13.2
16.8
248
3.6
893
TD28-23-1950-668
4.8
14.4
598
9.6
5,736
Including
4.8
10.8
837
6.0
5,023
TD28-23-1950-668
15.6
16.8
80
1.2
96
TD28-23-1950-668
18.0
19.2
88
1.2
106
TD28-23-1950-668
22.8
26.4
283
3.6
1,018
TD28-23-1950-669
6.0
15.6
933
9.6
8,954
Including
9.6
14.4
1,576
4.8
7,565
TD28-23-1950-669
19.2
24.0
181
4.8
866
TD28-23-1950-671
21.6
22.8
562
1.2
674
TD28-23-1950-672
13.2
16.8
489
3.6
1,759
TD28-23-1950-674
21.6
22.8
498
1.2
598
TD28-23-1950-675
19.2
25.2
147
6.0
881
TD28-23-1950-676
21.6
22.8
177
1.2
213
TD28-23-1950-677
3.6
9.6
342
6.0
2,050
TD28-23-1950-677
13.2
14.4
78
1.2
94
TD28-23-1950-677
16.8
26.4
623
9.6
5,978
Including
22.8
26.4
1,335
3.6
4,806
TD28-23-1950-678
2.4
3.6
129
1.2
154
TD28-23-1950-679
9.6
13.2
940
3.6
3,383
TD28-23-1950-679
16.8
26.4
259
9.6
2,489
TD28-23-1950-681
18.0
20.4
100
2.4
240
TD28-23-1950-681
21.6
24.0
88
2.4
211
TD28-23-1950-682
22.8
24.0
120
1.2
144
TD28-23-1950-683
3.6
10.8
294
7.2
2,114
Including
7.2
9.6
689
2.4
1,654
TD28-23-1950-683
18.0
26.4
422
8.4
3,542
Including
18.0
20.4
824
2.4
1,978
TD28-23-1950-697
4.8
6.0
414
1.2
497
TD28-23-1950-698
8.4
14.4
528
6.0
3,168
Including
8.4
10.8
1,077
2.4
2,585
TD28-23-1950-869
12.0
16.8
400
4.8
1,920
TD28-23-1968-877
14.4
16.8
77
2.4
185
TD28-23-1968-877
22.8
25.2
107
2.4
256
TD28-23-1975-685
7.2
8.4
76
1.2
91
TD28-23-1975-685
13.2
14.4
142
1.2
170
TD28-23-1975-686
7.2
8.4
103
1.2
123
TD28-23-1975-686
13.2
14.4
256
1.2
308
TD28-23-1975-687
4.8
6.0
1,034
1.2
1,240
TD28-23-1975-689
0.0
1.2
286
1.2
343
TD28-23-1975-689
2.4
3.6
198
1.2
238
TD28-23-1975-690
0.0
2.4
687
2.4
1,649
TD28-23-1975-730
13.2
14.4
164
1.2
197
TD28-23-1975-767
12.0
19.2
1,706
7.2
12,286
Including
13.2
15.6
4,688
2.4
11,251
TD28-23-1975-767
22.8
26.4
1,474
3.6
5,305
TD28-23-1975-768
2.4
3.6
110
1.2
132
TD28-23-1975-768
22.8
25.2
272
2.4
652
TD28-23-1975-769
22.8
26.4
253
3.6
912
TD28-23-1975-770
21.6
26.4
3,065
4.8
14,711
TD28-23-1975-771
1.2
4.8
177
3.6
637
TD28-23-2000-643
13.2
16.8
150
3.6
539
TD28-23-2000-644
12.0
13.2
76
1.2
91
TD28-23-2000-797
12.0
16.8
639
4.8
3,066
Including
14.4
16.8
1,151
2.4
2,762
TD28-23-2000-798
6.0
7.2
468
1.2
562
TD28-23-2000-798
14.4
20.4
305
6.0
1,829
TD28-23-2000-799
4.8
6.0
218
1.2
262
TD28-23-2000-799
10.8
12.0
162
1.2
195
TD28-23-2000-799
15.6
16.8
130
1.2
156
TD28-23-2000-800
0.0
2.4
111
2.4
265
TD28-23-2000-800
7.2
8.4
129
1.2
155
TD28-23-2000-803
4.8
7.2
910
2.4
2,184
TD28-23-2000-804
0.0
1.2
88
1.2
106
TD28-23-2000-804
16.8
18.0
92
1.2
110
TD28-23-2000-805
0.0
3.6
81
3.6
293
TD28-23-2000-805
14.4
18.0
151
3.6
542
TD28-23-2000-806
6.0
7.2
206
1.2
247
TD28-23-2000-806
16.8
22.8
744
6.0
4,461
Including
16.8
20.4
1163
3.6
4,185
TD28-23-2000-807
6.0
7.2
88
1.2
106
TD28-23-2000-807
12.0
18.0
106
6.0
638
TD28-23-2000-808
3.6
4.8
104
1.2
125
TD28-23-2000-809
0.0
1.2
78
1.2
94
TD28-23-2000-809
4.8
6.0
83
1.2
99
TD28-23-2000-810
19.2
20.4
78
1.2
94
TD28-23-2000-811
4.8
9.6
80
4.8
382
TD28-23-2000-811
18.0
19.2
86
1.2
103
TD28-23-2000-811
20.4
21.6
146
1.2
175
TD28-23-2000-820
2.4
3.6
99
1.2
119
TD28-23-2000-820
9.6
10.8
508
1.2
610
TD28-23-2000-822
24.0
25.2
457
1.2
548
TD28-23-2030-721
12.0
13.2
204
1.2
245
TD28-23-2030-722
12.0
13.2
192
1.2
230
TD28-23-2030-725
10.8
16.8
107
6.0
641
TD28-23-2030-772
0.0
2.4
168
2.4
403
TD28-23-2030-777
25.2
26.4
88
1.2
106
TD28-23-2030-778
3.6
8.4
250
4.8
1,198
TD28-23-2030-779
7.2
8.4
930
1.2
1,116
TD28-23-2030-781
14.4
15.6
94
1.2
113
TD28-23-2030-783
24.0
26.4
144
2.4
346
TD28-23-2030-786
2.4
7.2
338
4.8
1,621
TD28-23-2030-786
10.8
13.2
171
2.4
410
TD28-23-2030-787
15.6
16.8
92
1.2
110
TD28-23-2030-787
20.4
21.6
84
1.2
101
TD28-23-2030-787
22.8
25.2
442
2.4
1,062
TD28-23-2030-788
3.6
18.0
272
14.4
3,912
Including
12.0
14.4
706
2.4
1,694
TD28-23-2030-789
1.2
2.4
99
1.2
119
TD28-23-2030-793
10.8
14.4
1,162
3.6
4,185
TD28-23-2100-843
24.0
25.2
224
1.2
269
TD28-23-2100-844
12.0
19.2
785
7.2
5,649
Including
12.0
14.4
2,040
2.4
4,897
TD28-23-2100-846
2.4
3.6
119
1.2
143
Underground YAK
YAKD-23-1975-213
25.2
26.4
118
1.2
142
YAKD-23-1975-214
10.8
13.2
523
2.4
1,255
YAKD-23-1975-214
50.4
51.6
654
1.2
785
YAKD-23-1975-216
21.6
25.2
1,277
3.6
4,598
YAKD-23-1975-217
22.8
30.0
124
7.2
893
YAKD-23-1975-219
42.0
45.6
1,581
3.6
5,691
YAKD-23-2000-205
19.2
20.4
151
1.2
181
YAKD-23-2000-226
15.6
16.8
116
1.2
139
YAKD-23-2000-226
22.8
28.8
524
6.0
3,145
YAKD-23-2000-226
32.4
33.6
78
1.2
94
YAKD-23-2000-227
15.6
16.8
128
1.2
154
YAKD-23-2000-227
20.4
21.6
716
1.2
859
YAKD-23-2000-227
27.6
28.8
216
1.2
259
YAKD-23-2000-228
25.2
26.4
156
1.2
187
YAKD-23-2000-228
31.2
32.4
216
1.2
259
YAKD-23-2000-229
8.4
15.6
275
7.2
1,982
YAKD-23-2000-230
8.4
16.8
443
8.4
3,725
YAKD-23-2000-230
34.8
36.0
496
1.2
595
YAKD-23-2000-230
45.6
48.0
91
2.4
219
YAKD-23-2000-231
8.4
14.4
87
6.0
523
YAKD-23-2000-231
18.0
20.4
194
2.4
466
YAKD-23-2000-232
10.8
12.0
130
1.2
156
YAKD-23-2000-232
27.6
28.8
78
1.2
94
YAKD-23-2000-233
12.0
13.2
84
1.2
101
YAKD-23-2000-233
18.0
20.4
377
2.4
905
YAKD-23-2100-239
34.8
36.0
126
1.2
151
YAKD-23-2100-241
22.8
24.0
78
1.2
94
YAKD-23-2100-241
26.4
33.6
218
7.2
1,571
YAKD-23-2100-242
7.2
8.4
79
1.2
95
YAKD-23-2100-247
3.6
4.8
150
1.2
180
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.
Contact please visit Aya's website at www.ayagoldsilver.com or Benoit La Salle, FCPA, MBA, President & CEO, enoit.lasalle@ayagoldsilver.com; Alex Ball, VP, Corporate Development & IR, alex.ball@ayagoldsilver.com