TSX: AYA.TO
Gold: US $
Silver: US $
Zinc: US $
Copper: US $

Aya Gold & Silver Announces High-Grade Drill Results Including 2,728 g/t Ag over 6 Meters

share

Montreal, Quebec, April 13, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased to announce initial high-grade silver results from its 2021 drilling program at the Zgounder Silver Mine in the Kingdom of Morocco. Results from 40 drill holes continue to intersect high-grade silver mineralization along strike to the east and at depth below the current resource.

 

Key Highlights (all intersections are in core lengths)

  • ZG-SF-20-25 intersected 2,728 grams per tonne (“g/t”) Ag over 6.0m
  • ZG-SF-20-23 intersected 4,517 g/t Ag over 3.5m and 1,635g/t Ag over 7.5m
  • ZG-SF-20-18 intersected 854 g/t Ag over 12m
  • ZG-20-38 intersected 1,623 g/t Ag over 4m to the east
  • ZG-20-13bis intersected 2,100 g/t Ag over 2m at the granite contact at depth
  • Surface results confirm high-grade silver extension to the east
  • Underground results extend high-grade silver mineralization at depth
  • Six diamond drill rigs are investigatingthe eastern and western strikes, as well as the exploration target zone from below the mine tothe granite contact

 

The 40 results comprise ten diamond drill holes (“DDH”) from surface and 30 holes at depth, 24 of which are T28 percussion holes drilled for both mine development and exploration. Furthermore, two holes including ZG-21-06 and ZG-21-05 were drilled to the west, intersecting 412 g/t Ag over 1m and 100 g/t Ag over 0.5m, respectively, proving out mineralization extension potential. Hole ZG-20-38, located to the east, intersected 1,623 g/t Ag over 4m (see Table and Figure 1), extending the strike to the east and confirming continuity along strike.

Further, holes ZG-SF-20-25 and ZG-SF-20-23 intersected 2,728 g/t Ag and 4,517 g/t Ag over 6m and 3.5m, respectively, below the current mining resource and to the east. Hole ZG-SF-20-18 intersected 854 g/t Ag over 12m below the current mineral resource. Finally, ZG-20-13bis intersected 2,100 g/t Ag over 2m at the granite contact, confirming high-grade continuity at the contact at depth.

“These initial 2021 drill results increase the number of intersections within the 20-60 million oz exploration target area established outside the formal resource envelope at depth, and laterally toward the east. Our exploration efforts continue to extend the high-grade strike to the east and confirm continuity and high-grade mineralization at depth,” said Benoit La Salle, President & CEO.

For a complete summary of today’s results from the 2021 drill program, please refer to Appendix 1 of this press release for surface results and Appendix 2 for underground results.

Table 1 – Significant Intercepts from Surface and Underground Drilling at Zgounder (in core lengths)

Hole No.

From (m)

To (m)

Length1 (m)

Ag2 (g/t)

Surface

ZG-20-13bis

379.00

381.00

2.00

2,100

 

including

1.00

3,920

ZG-20-37

18.00

19.50

1.50

1,536

ZG-20-38

181.00

185.50

4.00

1,623

 

including

1.00

4,480

 

including

1.00

1,275

ZG-20-46

125.00

136.00

11.00

821

 

including

2.00

2,516

 

including

1.00

1,065

Underground

ZG-SF-20-18

15.00

27.00

12.00

854

 

including

3.00

2,413

 

including

1.00

1,530

38.00

42.00

4.00

1,404

 

including

2.00

2,588

ZG-SF-20-22

10.50

12.50

2.00

2,134

ZG-SF-20-23

16.50

20.00

3.50

4,517

40.00

47.50

7.50

1,635

 

including

1.00

1,140

 

including

1.00

1,928

 

including

0.50

10,400

 

including

1.00

2,056

ZG-SF-20-24

31.00

37.50

6.50

1,566

 

including

0.50

1,597

 

Including

1.00

5,062

 

including

0.50

7,040

ZG-SF-20-25

0.00

3.00

3.00

1,680

20.50

26.50

6.00

2,728

 

including

1.00

14,880

T28-21-1988-18

12.00

15.60

3.60

1,299

 

including

1.20

3,222

T28-21-1988-21

10.80

22.80

12.00

 676

 

including

1.20

 1,163

 

including

3.60

 1,321

T28-21-2000-61

18.00

25.20

7.20

679

 

including

2.40

1,669

T28-21-1988-94

3.60

7.20

3.60

 2,279 

 

including

1.20

1,211

 

including

1.20

5,264

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 from Surface and Underground Drilling at Zgounder


2021 Exploration Program

Under the 2021 exploration program, a total of 41,000m will be drilled at Zgounder, including 35,000m on the mine permit and 6,000m regionally. A total of six diamond drilling rigs, four at surface and two underground, were mobilized on the property in Q1 2021. A third underground electric diamond rig is expected shortly. Two T28 percussion rigs are also in operation. A total of 7,810m of exploration drilling has been completed so far.

 

Quality Assurance

For core drilling, all individual samples represent approximately one meter in length of core, which was 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 in Marrakech, Morocco. All samples are analysed 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 reanalysed using fire assaying.

 

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 publicly traded Canadian company focused on the operation, exploration, acquisition and development of silver and gold deposits. Aya is currently operating mining and milling facilities at its Zgounder Silver Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and the Office National des Hydrocarbures et des Mines (“ONHYM”) of the Kingdom of Morocco.

 

Its mining portfolio also includes the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco which is also a joint venture with ONHYM wherein Aya retains an 85% ownership. Additionally, the Corporation’s portfolio includes the Amizmiz and Azegour properties, both being 100% owned, with gold, tungsten, molybdenum and copper occurrences in the center of the historical mining district of Morocco.

 

For additional information, please visit Aya’s website at www.ayagoldsilver.com.

 

Or contact:

Benoit La Salle, FCPA FCA
President & CEO
benoit.lasalle@ayagoldsilver.com
Alex Ball
VP, Corporate Development & IR
alex.ball@ayagoldsilver.com

 

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 “plans”, “expects”, “does not expect”, “scheduled”, “trends”, “indications”, “potential”, “estimates”, “predicts”, “anticipate”, “to establish”, “does not anticipate”, “believe”, “intend”, “ability to” 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 the timing in respect thereof, future opportunities for enhancing development at Zgounder, and timing for the release of the Company's disclosure in connection with the foregoing. 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 closing and timing of financing, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, 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 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 2020 Annual Information Form dated March 31, 2021, 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 Surface Drilling from Zgounder (in core lengths)

 

Hole No.

From

 (m)

To

 (m)

Length1

 (m)

Ag2

 (g/t)

ZG-20-06bis

441.00

443.00

2.00

570

470.00

472.50

2.50

893

 

including

0.50

4,040

ZG-20-13bis

299.00

300.00

1.00

80

361.00

361.50

0.50

648

379.00

381.00

2.00

2,100

 

including

1.00

3,920

388.00

389.00

1.00

328

ZG-20-21

161.50

165.00

3.50

697

178.50

179.00

0.50

517

257.00

258.00

1.00

136

ZG-20-28

0.00

1.50

1.50

128

 

144.00

144.50

0.50

96

ZG-20-37

18.00

19.50

1.50

1,536

ZG-20-38

181.00

185.50

4.00

1,623

 

including

1.00

4,480

 

including

1.00

1,275

217.00

220.50

3.50

79

ZG-20-39

Below cut-off grade

 

 

ZG-20-40

Below cut-off grade

 

 

ZG-20-41

16.00

17.50

1.50

184

82.00

83.00

1.00

140

ZG-20-42

Below cut-off grade

 

 

ZG-20-43

Below cut-off grade

 

 

ZG-20-44

Below cut-off grade

 

 

ZG-20-44bis

Below cut-off grade

 

 

ZG-20-45

Below cut-off grade

 

 

ZG-20-46

51.00

51.50

0.50

336

74.50

75.00

0.50

186

87.00

89.00

2.00

517

 

including

0.50

1,001

112.00

114.00

2.00

542

120.00

121.00

1.00

125

125.00

136.00

11.00

821

 

including

2.00

2,516

 

including

1.00

1,065

ZG-20-47

Below cut-off grade

 

 

ZG-20-48

Below cut-off grade

 

 

ZG-21-01

Below cut-off grade

 

 

ZG-21-03

Below cut-off grade

 

 

ZG-21-04

Below cut-off grade

 

 

ZG-21-05

155.00

155.50

0.50

 100 

ZG-21-06

241.00

242.00

1.00

 412 

ZG-21-07

Below cut-off grade

 

 

ZG-21-08

Below cut-off grade

 

 

 

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 (in core lengths)

 

Hole No.

From

 (m)

To

 (m)

Length1

 (m)

Ag2

 (g/t)

ZG-SF-20-18

2.00

3.00

1.00

85

15.00

27.00

12.00

854

 

including

3.00

2,413

 

Including

1.00

1,530

38.00

42.00

4.00

1,404

 

including

2.00

2,588

43.00

46.00

3.00

76

ZG-SF-20-19

Below cut-off grade

 

 

ZG-SF-20-20

Below cut-off grade

 

 

ZG-SF-20-21

33.00

34.00

1.00

310

49.50

50.50

1.00

145

71.00

73.00

2.00

180

ZG-SF-20-22

10.50

12.50

2.00

2,134

65.00

66.50

1.50

364

70.00

73.00

3.00

158

ZG-SF-20-23

16.50

20.00

3.50

4,517

28.50

31.00

2.50

128

40.00

47.50

7.50

1,635

 

including

1.00

1,140

 

including

1.00

1,928

 

including

0.50

10,400

 

including

1.00

2,056

62.50

65.50

3.00

316

ZG-SF-20-24

0.00

2.00

2.00

736

21.50

23.00

1.50

420

31.00

37.50

6.50

1,566

 

including

0.50

1,597

 

including

1.00

5,062

 

including

0.50

7,040

ZG-SF-20-25

0.00

3.00

3.00

1,680

20.50

26.50

6.00

2,728

0.00

3.00

3.00

1,680

20.50

26.50

6.00

2,728

T28 Underground Drilling Program

 

T28-21-2030-01

3.60

7.20

3.60

116

9.60

14.40

4.80

907

 

including

1.20

3,097

T28-21-2030-02

10.80

16.80

6.00

344

T28-21-2030-03

8.40

12.00

3.60

560

T28-21-2030-04

13.20

24.00

10.80

133

T28-21-1988-18

4.80

6.00

1.20

1,292

12.00

15.60

3.60

1,299

 

including

1.20

3,222

T28-21-1988-21

6.00

7.20

1.20

493

10.80

22.80

12.00

676

 

 including

1.20

1,163

 

 including

3.60

1,321

T28-21-1988-22

12.00

16.80

4.80

351

T28-21-1988-23

7.20

9.60

2.40

161

12.00

16.80

4.80

258

T28-21-1988-24

7.20

9.60

2.40

584

14.40

16.80

2.40

278

T28-21-1988-25

0.00

8.40

8.40

356

10.80

24.00

13.20

189

T28-21-1975-29

3.60

6.00

2.40

 475

9.60

14.40

4.80

 268

T28-21-1975-30

10.80

15.60

4.80

 840

T28-21-1975-34

2.40

13.20

10.80

 204

T28-21-1975-35

9.60

13.20

3.60

 415

T28-21-1975-39

14.40

15.60

1.20

 400

T28-21-2000-55

2.40

8.40

6.00

 699

 

including

2.40

 1,471

T28-21-2000-60

10.80

13.20

2.40

 216

15.60

20.40

4.80

 635

22.80

26.40

3.60

 374

T28-21-2000-61

13.20

14.40

1.20

75

18.00

25.20

7.20

679

 

including

2.40

1,669

T28-21-2000-65

0.00

7.20

7.20

770

 

including

1.20

2,181

T28-21-2000-66

15.60

16.80

1.20

 281

T28-21-1975-75

16.80

20.40

3.60

 209

T28-21-1975-76

22.80

24.00

1.20

 1,084

T28-21-1975-90

14.40

20.40

6.00

 133

T28-21-1988-94

3.60

7.20

3.60

 2,279

 

including

1.20

 1,211

 

including

1.20

 5,264

           

 

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.