TSX: AYA.TO
Gold: US $
2,661.41
Silver: US $
31.91
Copper: US $
4.26

May 13, 2024

Aya Gold & Silver Extends Main Zone to 5km and Adds 7 New Permits at Boumadine

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Montreal, Quebec, May 13, 2024 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results from its 2024 program of 120,000 meters (“m”) at Boumadine in the Kingdom of Morocco. Today’s results extend the main mineralized trend by 800m and continues to demonstrate continuity of the Boumadine Main Zone, which remains open in all directions. The Corporation also reports it has secured the right to 7 additional exploration permits, expanding the Boumadine exploration footprint to over 198 square kilometers (“km2”).

  • Key Highlights[1]
  • Extension of Boumadine strike length to 5 kilometers (“km”):
    • BOU-DD23-265 intersected 1,355 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 3.1 m (16.25 g/t gold (“Au”), 86 g/t silver (“Ag”), 0.1% zinc (“Zn”), 0.1% lead (“Pb”) and 0.1% copper (“Cu”) and 442 g/t AgEq over 8.0m (4.51 g/t Au, 58 g/t Ag, 0.3% Zn, 0.2% Pb and 0.2% Cu)
    • BOU-DD24-292 intersected 354 g/t AgEq over 2.9m (06 g/t Au, 27 g/t Ag, 0.4% Zn, 0.1% Pb and 0.03% Cu)
    • BOU-DD24-284 intersected 1,317 g/t AgEq over 1.9m (70 g/t Au, 91 g/t Ag, 0.05% Zn, 0.1% Pb and 0.2% Cu)
  • Extension of the Tizi strike length to 1.6km:
    • BOU-DD24-310 intersected 445 g/t AgEq over 13.7m (4.90 g/t Au, 42 g/t Ag, 0.3% Zn, 0.4% Pb and 0.1% Cu), including 1.6m at 1,988 g/t AgEq and 1.5m at 813 g/t AgEq
    • BOU-DD24-306 intersected 1,021 g/t AgEq over 3.0m (48 g/t Au, 89 g/t Ag, 0.8% Zn, 0.2% Pb and 0.2% Cu) including 1.5m at 1,755 g/t AgEq
  • New style of mineralization with very high silver grade:
    • BOU-DD24-310 intersected 7,820 g/t Ag over 1.0m
  • Secured 7 new exploration permits totaling 56.9 km² at Boumadine (Figure 1)

“Today’s high-grade drill results including BOU-DD23-265 in the north of the Main Trend extend the Boumadine footprint to 5km, and BOU-DD23-310 at Tizi confirms the potential to increase the resource,” said Benoit La Salle, President & CEO. “We are excited to expand our presence further at Boumadine through the strategic addition of 7 new permits, as part of our ongoing strategy to grow our land package and underscoring our confidence in the region's mineral potential. With an area of almost 200km2 in what we consider to be a generational asset and a potential district, we are in position to deliver value for all stakeholders.”

[1] All intersections are in core lengths. Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%, a gold price of US$1,900/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting on the following ratios: 1g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; 1% Zn: 28.1 g/t Ag.

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

DDH No.

Section

Zone

From
(m)

To
(m)

Au
(g/t)

Ag
(g/t)

Length*
(m)

Cu
(%)

Pb
(%)

Zn
(%)

Mo
(g/t)

Ag Eq**
(g/t)

BOU-DD23-254

7650N

Para

402.3

403.7

9.41

28

1.4

0.2

0.1

0.1

1

772

BOU-DD23-256

5400N

Main

149.8

159.4

1.06

134

9.6

0.0

0.2

1.3

4

257

BOU-DD23-256

5400N

Para

179.3

186.4

1.42

136

7.1

0.0

1.9

2.3

6

363

BOU-DD23-265

8850N

Para

314.0

323.0

3.91

24

9.0

0.0

0.2

0.2

0

338

Including

314.0

318.8

6.76

36

4.8

0.1

0.1

0.2

0

569 

BOU-DD23-265

8850N

Main

338.0

341.1

16.25

86

3.1

0.1

0.1

0.1

0

1,355

BOU-DD23-265

8850N

Para

366.0

374.0

4.51

58

8.0

0.2

0.2

0.3

0

442

Including

369.7

372.3

12.17

160

2.6

0.7

0.3

0.5

0

1,186

BOU-DD24-284

9950N

Imarriren

439.7

441.6

15.70

91

1.9

0.2

0.1

0.05

4

1,317

BOU-DD24-288

9950N

Para

459.7

461.6

2.19

81

1.9

0.1

0.1

2.9

2

344

BOU-DD24-289

9950N

Main

497.0

500.3

3.71

44

3.3

0.0

0.1

0.1

1

336

Including

497.0

499.7

4.37

49

2.7

0.0

0.1

0.1

1

393 

BOU-DD24-292

9950N

Main

679.4

682.3

4.06

27

2.9

0.03

0.1

0.4

3

354

BOU-DD24-295

10150N

Para

325.0

330.3

1.59

49

5.3

0.1

0.5

0.6

2

210

BOU-DD24-296

3477900N

Tizi

154.0

158.2

2.79

50

4.2

0.1

0.1

0.3

7

289

BOU-DD24-298

10150N

Para

370.0

373.0

1.85

37

3.0

0.1

0.6

1.5

5

245

BOU-DD24-302

10150N

Main

572.6

573.9

3.65

112

1.3

0.2

0.1

2.3

4

478

BOU-DD24-306

3478100N

Tizi

314.1

317.1

11.48

89

3.0

0.2

0.2

0.8

3

1,021

Including

314.1

315.6

20.05

133

1.5

0.4

0.2

1.4

2

1,755 

BOU-DD24-308

3477500N

Tizi

102.6

104.3

2.64

62

1.7

0.4

0.9

1.3

16

369

BOU-DD24-310

3477500N

Tizi

58.0

71.7

4.90

42

13.7

0.1

0.4

0.3

9

445

Including

58.0

59.6

23.34

148

1.6

0.2

0.4

0.5

17

1,988 

Including

70.2

71.7

9.47

62

1.5

0.1

0.2

0.1

4

813 

BOU-DD24-310

3477500N

E-W Vein

281.4

282.4

0.08

7,820

1.0

0.2

5.5

1.5

7

8,036

 
*    True width remains undetermined at this stage; all values are uncut.
**   Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%, a gold price of US$1,900/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting on the following ratios: 1g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; 1% Zn: 28.1 g/t Ag.

 
Figure 1 – Location of New Boumadine Permits


 
Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2024 Drill Holes


 
2024 Exploration Results
This year, 60 diamond drill holes (“DDH”) for 27,122m have been completed at Boumadine (Figure 2 and Appendix 2). Drilling was conducted on strike along the Main Trend (North Zones), Tizi and North-West Zones. The majority of results have been received for drill holes up to BOU-DD23-310 (Table 1, Figure 4, and Appendix 1).

Results received since January 2024 including hole BOU-DD24-292 confirm the high-grade continuity of the Main Trend and extend the mineralized strike length to 5km. The Main Trend remains open in all directions. Today’s results also significantly extend the strike length of the Tizi Zone from 600m to 1.6km. The Tizi Zone also remains open in all directions.

Hole BOU-DD24-310 returned high-grade silver results including 7,820 g/t Ag over 1.0m in a small East-West structure. This new structure is a brecciated carbonate-quartz-galena vein with low temperature texture (blades, crustiform and colloform). Because the drilling was planned for Tizi, the East-West structure was intersected at a very low core-angle. True thickness is still unknown but is probably less than 0.2m. This type of vein will be better targeted with a specific “East-West” drill program.

The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Tizi and Imarriren share the same characteristics except for their N000 orientation. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit.

Figure 3 – Longitudinal View of Boumadine Main Zone

Figure 4 – Surface Plan of North & Tizi Zones with New 2024 DDH Results

 

 

Next Steps
Significant upside potential exists to expand the Boumadine Main Trend, which currently extends 5.0km and remains open in all directions. Currently, the Corporation has mobilized seven drill rigs to complete the 120,000m drilling program. Half of the program will test the continuation of the known trend and infill. The remaining 50% will focus on geological targets generated by 2023 work and will be informed by the ongoing hyperspectral and high-resolution geophysical surveys. Hyperspectral and the geophysical surveys began in early 2024 and results are expected in late Q2-2024. The results from ongoing geology work will determine additional development work.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

 

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, 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 maximizes shareholder value by anchoring sustainability at the heart of its production, resource, 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

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 “confirm”, “remains”, “confidence”, “potential”, “complete”, “expect” “extend”, “expand”, “belief”, 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 Boumadine and the advancement of and success of the exploration program at Boumadine , 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 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 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. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. 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 – Full Drill Results from Boumadine (core lengths)

DDH No.

Section

Zone

From
(m)

To
(m)

Au
(g/t)

Ag
(g/t)

Length*
(m)

Cu
(%)

Pb
(%)

Zn
(%)

Mo
(g/t)

 Ag Eq**
(g/t)

BOU-DD23-253

7650N

Para

489.8

495.7

0.66

25

5.9

0.0

0.2

0.5

2

99

BOU-DD23-254

7650N

Para

402.3

403.7

9.41

28

1.4

0.2

0.1

0.1

1

772

BOU-DD23-254

7650N

Para

407.5

408.5

3.63

1

1.0

0.0

0.1

0.6

1

301

BOU-DD23-255

5800N

NSR

0.0

211.7

0.00

0

211.7

0.0

0.0

0.0

0

0

BOU-DD23-256

5400N

Main

149.8

159.4

1.06

134

9.6

0.0

0.2

1.3

4

257

BOU-DD23-256

5400N

Para

179.3

186.4

1.42

136

7.1

0.0

1.9

2.3

6

363

BOU-DD23-256

5400N

Para

253.8

254.8

0.22

24

1.0

0.0

0.1

0.2

1

48

BOU-DD23-256

5400N

Para

278.6

279.2

0.15

32

0.6

0.0

1.7

3.0

13

175

BOU-DD23-256

5400N

Para

337.0

337.5

0.33

28

0.5

0.0

0.4

0.4

88

79

BOU-DD23-257

3476025N

NSR

0.0

211.0

0.00

0

211.0

0.0

0.0

0.0

0

0

BOU-DD23-258

3476025N

Tizi

184.1

185.1

0.46

4

1.0

0.0

0.0

0.0

2

41

BOU-DD23-258

3476025N

Tizi

208.2

209.8

1.29

26

1.6

0.0

0.0

0.0

3

128

BOU-DD23-258

3476025N

Tizi

220.3

221.0

0.46

4

0.7

0.0

0.0

0.0

13

43

BOU-DD23-259

NE

 

286.3

287.3

0.23

56

1.0

0.0

0.3

0.0

0

83

BOU-DD23-260

NW2

NSR

0.0

204.2

0.00

0

204.2

0.0

0.0

0.0

0

0

BOU-DD23-261

3476025N

NSR

0.0

150.5

0.00

0

150.5

0.0

0.0

0.0

0

0

BOU-DD23-262

NW2

NSR

0.0

366.2

0.00

0

366.2

0.0

0.0

0.0

0

0

BOU-DD23-263

NE

NSR

0.0

427.1

0.00

0

427.1

0.0

0.0

0.0

0

0

BOU-DD23-264

NE

NSR

0.0

564.1

0.00

0

564.1

0.0

0.0

0.0

0

0

BOU-DD23-265

8850N

Para

300.0

301.0

0.43

8

1.0

0.0

0.7

0.8

0

84

BOU-DD23-265

8850N

Para

310.0

312.0

0.59

8

2.0

0.0

0.5

0.2

0

75

BOU-DD23-265

8850N

Para

314.0

323.0

3.91

24

9.0

0.0

0.2

0.2

0

338

Including

314.0

318.8

6.76

36

4.8

0.1

0.1

0.2

0

569

BOU-DD23-265

8850N

Para

324.0

325.0

0.57

12

1.0

0.0

0.1

0.1

0

62

BOU-DD23-265

8850N

Para

326.0

327.0

0.43

12

1.0

0.0

0.1

0.5

0

62

BOU-DD23-265

8850N

Para

327.5

329.0

1.93

16

1.5

0.0

0.5

0.6

0

198

BOU-DD23-265

8850N

Main

338.0

341.1

16.25

86

3.1

0.1

0.1

0.1

0

1,355

BOU-DD23-265

8850N

Para

350.8

351.4

4.43

28

0.6

0.1

0.1

0.7

0

397

BOU-DD23-265

8850N

Para

366.0

374.0

4.51

58

8.0

0.2

0.2

0.3

0

442

Including

369.7

372.3

12.17

160

2.6

0.7

0.3

0.5

0

1,186

BOU-DD23-265

8850N

Para

412.0

413.0

0.51

12

1.0

0.0

0.2

0.4

0

70

BOU-DD23-266

3476025N

NSR

0.0

162.0

0.00

0

162.0

0.0

0.0

0.0

0

0

BOU-DD23-267

NW3

NSR

0.0

219.7

0.00

0

219.7

0.0

0.0

0.0

0

0

BOU-DD23-268

3476025N

NSR

0.0

159.3

0.00

0

159.3

0.0

0.0

0.0

0

0

BOU-DD23-269

3476025N

Tizi

144.1

145.0

0.33

12

0.9

0.0

0.0

0.0

3

39

BOU-DD23-269

3476025N

Tizi

145.9

146.9

0.34

12

1.0

0.0

0.0

0.0

11

40

BOU-DD23-269

3476025N

Tizi

155.9

157.3

0.29

20

1.4

0.0

0.0

0.0

4

44

BOU-DD23-270

9150N

Para

400.6

401.4

0.49

16

0.8

0.2

0.1

0.1

1

75

BOU-DD23-270

9150N

Para

470.6

473.6

0.45

17

3.0

0.0

0.3

0.7

2

80

BOU-DD23-270

9150N

Para

490.1

491.1

1.13

1

1.0

0.0

0.1

0.3

1

100

BOU-DD23-270

9150N

Main

503.8

504.6

2.12

20

0.8

0.1

0.1

0.2

1

199

BOU-DD23-270

9150N

Para

506.6

507.6

0.60

12

1.0

0.0

0.1

0.1

5

66

BOU-DD23-270

9150N

Para

577.7

578.7

1.44

12

1.0

0.0

0.1

0.1

2

127

BOU-DD23-270

9150N

Para

589.9

590.7

0.47

4

0.8

0.1

0.0

0.1

1

49

BOU-DD23-270

9150N

Para

593.4

593.9

0.58

12

0.5

0.0

0.1

0.1

3

64

BOU-DD23-270

9150N

Para

662.8

663.4

0.44

24

0.6

0.0

0.4

0.4

1

80

BOU-DD23-271

NW2

NSR

0.0

498.2

0.00

0

498.2

0.0

0.0

0.0

0

0

BOU-DD23-272

3477750N

Tizi

63.5

65.7

0.94

17

2.2

0.0

0.1

0.3

1

102

BOU-DD23-272

3477750N

Tizi

86.7

89.0

0.42

26

2.3

0.0

1.5

1.9

1

153

BOU-DD23-273

9150N

Para

52.5

55.5

0.55

12

3.0

0.0

0.1

0.1

4

60

BOU-DD23-274

9150N

NSR

0.0

246.0

0.00

0

246.0

0.0

0.0

0.0

0

0

BOU-DD23-275

NW3

NSR

0.0

307.3

0.00

0

307.3

0.0

0.0

0.0

0

0

BOU-DD23-276

3477750N

Tizi

16.5

17.1

1.88

16

0.6

0.0

0.1

0.0

5

166

BOU-DD23-276

3477750N

Tizi

22.1

22.6

2.89

43

0.5

0.0

0.2

0.2

2

278

BOU-DD23-276

3477750N

Tizi

26.0

28.5

0.47

32

2.5

0.0

1.0

0.8

3

120

BOU-DD23-276

3477750N

Tizi

34.5

37.5

0.19

44

3.0

0.0

0.8

1.2

6

116

BOU-DD23-276

3477750N

Tizi

39.5

40.4

0.14

43

0.9

0.0

1.4

2.0

3

151

BOU-DD23-276

3477750N

Tizi

100.4

101.1

1.55

24

0.7

0.0

0.1

0.3

1

157

BOU-DD23-276

3477750N

Tizi

150.5

151.5

0.59

16

1.0

0.0

0.3

0.9

2

95

BOU-DD23-276

3477750N

Tizi

165.5

166.1

2.21

83

0.6

0.0

6.1

4.7

8

554

BOU-DD23-276

3477750N

Tizi

167.1

168.1

0.50

8

1.0

0.0

0.3

0.7

5

74

BOU-DD23-277

3477750N

Tizi

27.4

28.4

0.40

28

1.0

0.0

0.5

1.4

3

114

BOU-DD23-277

3477750N

Tizi

33.4

34.4

0.36

20

1.0

0.0

0.1

0.5

1

66

BOU-DD23-277

3477750N

Tizi

39.4

40.1

0.45

36

0.7

0.0

1.0

1.1

3

131

BOU-DD23-277

3477750N

Tizi

44.4

48.0

0.61

12

3.6

0.0

0.2

0.6

3

84

BOU-DD23-277

3477750N

Tizi

51.0

53.5

1.09

22

2.5

0.0

0.0

0.1

3

110

BOU-DD23-277

3477750N

Tizi

76.0

78.3

0.69

15

2.3

0.0

0.0

0.0

1

71

BOU-DD23-277

3477750N

Tizi

80.1

81.1

0.93

16

1.0

0.0

0.1

1.1

4

125

BOU-DD23-277

3477750N

Tizi

86.3

87.2

0.47

16

0.9

0.0

0.1

0.8

2

78

BOU-DD23-277

3477750N

Tizi

103.0

104.0

0.38

16

1.0

0.0

0.0

0.1

2

51

BOU-DD23-277

3477750N

Tizi

104.7

106.0

1.16

12

1.3

0.0

0.0

0.1

2

106

BOU-DD23-277

3477750N

Tizi

183.4

184.4

0.35

12

1.0

0.0

0.3

0.5

1

63

BOU-DD23-277

3477750N

Tizi

186.4

187.4

0.52

24

1.0

0.0

0.3

0.6

1

91

BOU-DD23-278

9150N

Para

125.7

126.7

0.78

4

1.0

0.0

0.0

0.0

1

66

BOU-DD23-278

9150N

Para

276.8

277.8

0.45

4

1.0

0.0

0.0

0.0

1

40

BOU-DD23-279

3477750N

Tizi

29.0

33.3

1.08

18

4.3

0.0

0.2

1.3

2

149

BOU-DD23-279

3477750N

Tizi

40.0

40.9

0.73

12

0.9

0.0

0.4

0.4

6

92

BOU-DD23-279

3477750N

Tizi

74.0

74.5

0.42

60

0.5

0.0

1.9

5.4

8

299

BOU-DD23-279

3477750N

Tizi

103.0

104.3

0.53

34

1.3

0.0

0.4

1.9

6

141

BOU-DD23-279

3477750N

Tizi

112.8

114.4

2.63

46

1.6

0.0

0.1

0.1

7

255

BOU-DD23-279

3477750N

Tizi

112.8

117.0

1.62

34

4.2

0.0

0.0

0.0

7

164

BOU-DD23-279

3477750N

Tizi

126.0

129.0

0.80

38

3.0

0.0

0.2

0.2

8

113

BOU-DD23-279

3477750N

Tizi

177.5

178.5

1.31

43

1.0

0.0

1.1

1.5

2

219

BOU-DD23-280

3477750N

Tizi

66.1

66.6

1.19

24

0.5

0.1

1.0

0.9

11

172

BOU-DD23-280

3477750N

Tizi

68.4

69.0

1.56

20

0.6

0.0

0.2

0.8

8

169

BOU-DD23-280

3477750N

Tizi

155.3

156.5

4.23

101

1.2

0.1

0.2

0.1

4

444

BOU-DD23-280

3477750N

Tizi

159.0

160.3

2.33

76

1.3

0.1

0.1

0.6

6

282

BOU-DD23-280

3477750N

Tizi

170.5

172.6

2.35

41

2.1

0.1

0.1

0.1

6

241

BOU-DD23-280

3477750N

Tizi

176.6

177.6

0.64

20

1.0

0.0

0.2

1.0

7

105

BOU-DD23-281

NW3

NSR

0.0

449.8

0.00

0

449.8

0.0

0.0

0.0

0

0

BOU-DD23-282

3477750N

Tizi

96.3

97.2

0.67

16

0.9

0.1

0.6

0.6

12

108

BOU-DD23-282

3477750N

Tizi

99.8

100.5

0.36

12

0.7

0.1

0.6

1.3

17

99

BOU-DD23-282

3477750N

Tizi

148.0

149.0

0.86

4

1.0

0.0

0.3

0.3

3

87

BOU-DD23-282

3477750N

Tizi

155.9

156.8

0.90

8

0.9

0.0

0.4

0.6

2

104

BOU-DD23-282

3477750N

Tizi

180.0

181.0

0.20

32

1.0

0.0

2.0

4.2

3

224

BOU-DD23-282

3477750N

Tizi

205.9

206.4

4.52

63

0.5

0.4

0.1

0.1

4

457

BOU-DD23-282

3477750N

Tizi

208.0

208.7

0.35

60

0.7

0.1

0.9

4.4

1

241

BOU-DD23-282

3477750N

Tizi

239.5

240.5

0.47

8

1.0

0.1

0.0

0.1

9

53

BOU-DD23-282

3477750N

Tizi

250.8

252.1

3.49

50

1.3

0.1

0.1

0.5

2

341

BOU-DD23-282

3477750N

Tizi

254.4

254.9

1.00

25

0.5

0.0

0.0

0.0

3

106

BOU-DD23-282

3477750N

Tizi

257.1

257.7

0.74

16

0.6

0.1

0.0

0.0

5

79

BOU-DD23-282

3477750N

Tizi

259.2

262.0

1.56

30

2.8

0.1

0.0

0.6

2

174

BOU-DD23-282

3477750N

Tizi

390.6

391.1

0.87

16

0.5

0.0

0.8

0.0

8

107

BOU-DD24-283

9950N

Main

67.0

69.6

1.49

18

2.6

0.0

0.3

2.4

16

214

BOU-DD24-283

9950N

Para

251.2

252.6

0.22

41

1.4

0.1

1.1

1.7

4

147

BOU-DD24-283

9950N

Para

259.1

260.7

2.84

29

1.6

0.1

0.0

0.7

2

275

BOU-DD24-283

9950N

Para

261.6

262.5

0.39

8

0.9

0.0

0.0

0.9

5

67

BOU-DD24-283

9950N

Imarriren

284.8

285.3

3.74

20

0.5

0.0

0.5

1.8

3

375

BOU-DD24-284

9950N

Para

51.7

53.2

0.52

16

1.5

0.0

1.0

0.5

21

101

BOU-DD24-284

9950N

Para

97.2

98.2

0.62

8

1.0

0.0

0.2

0.8

16

84

BOU-DD24-284

9950N

Main

120.2

121.2

1.49

24

1.0

0.0

0.1

0.1

24

146

BOU-DD24-284

9950N

Para

285.3

285.9

0.41

23

0.6

0.0

0.7

2.2

6

138

BOU-DD24-284

9950N

Para

311.4

317.8

0.91

17

6.4

0.0

0.0

0.1

2

95

BOU-DD24-284

9950N

Imarriren

439.7

441.6

15.70

91

1.9

0.2

0.1

0.0

4

1,317

BOU-DD24-284

9950N

Para

455.4

456.3

0.60

8

0.9

0.0

0.1

0.3

3

65

BOU-DD24-285

NW1

NSR

0.0

256.8

0.00

0

256.8

0.0

0.0

0.0

0

0

BOU-DD24-286

NW1

NSR

0.0

342.5

0.00

0

342.5

0.0

0.0

0.0

0

0

BOU-DD24-287

NW1

 

514.5

515.0

0.62

26

0.5

0.1

0.1

0.1

67

88

BOU-DD24-288

9950N

Main

242.1

245.3

0.52

13

3.2

0.0

0.5

1.0

3

95

BOU-DD24-288

9950N

Para

457.8

458.3

0.33

28

0.5

0.1

0.1

0.1

2

69

BOU-DD24-288

9950N

Para

459.7

461.6

2.19

81

1.9

0.1

0.1

2.9

2

344

BOU-DD24-289

9950N

Para

107.8

108.8

0.85

8

1.0

0.0

0.0

0.0

4

76

BOU-DD24-289

9950N

Para

211.1

212.1

0.50

8

1.0

0.0

0.2

0.2

2

58

BOU-DD24-289

9950N

Main

497.0

500.3

3.71

44

3.3

0.0

0.1

0.1

1

336

Including

497.0

499.7

4.37

49

2.7

0.0

0.1

0.1

1

393

BOU-DD24-289

9950N

Para

501.2

504.1

0.38

24

2.9

0.0

0.0

0.1

2

61

BOU-DD24-289

9950N

Para

533.4

533.9

0.31

16

0.5

0.0

0.3

0.3

5

58

BOU-DD24-290

NW4

NSR

0.0

300.1

0.00

0

300.1

0.0

0.0

0.0

0

0

BOU-DD24-291

9950N

Para

384.3

384.9

0.44

20

0.6

0.0

0.2

5.0

1

202

BOU-DD24-291

9950N

Para

571.8

572.6

0.59

20

0.8

0.1

0.0

0.1

3

73

BOU-DD24-291

9950N

Para

576.9

577.4

1.13

74

0.5

0.0

0.0

0.1

3

165

BOU-DD24-291

9950N

Para

580.3

581.0

0.50

12

0.7

0.0

0.0

0.1

4

56

BOU-DD24-291

9950N

Para

585.2

586.6

0.32

48

1.4

0.3

0.0

0.2

3

103

BOU-DD24-291

9950N

Main

605.4

607.1

0.38

39

1.7

0.0

0.1

0.1

2

77

BOU-DD24-292

9950N

Para

395.0

396.0

1.22

4

1.0

0.0

0.0

0.0

3

102

BOU-DD24-292

9950N

Para

415.0

415.9

1.14

1

0.9

0.0

0.0

0.0

8

90

BOU-DD24-292

9950N

Para

526.8

527.3

0.88

69

0.5

0.0

0.5

2.0

3

208

BOU-DD24-292

9950N

Para

645.4

646.2

3.20

190

0.8

0.1

0.4

0.3

11

469

BOU-DD24-292

9950N

Para

667.0

668.0

0.28

73

1.0

0.0

0.2

0.0

11

102

BOU-DD24-292

9950N

Main

679.4

682.3

4.06

27

2.9

0.0

0.1

0.4

3

354

BOU-DD24-293

NW4

NSR

0.0

612.2

0.00

0

612.2

0.0

0.0

0.0

0

0

BOU-DD24-294

NW4

NSR

0.0

425.9

0.00

0

425.9

0.0

0.0

0.0

0

0

BOU-DD24-295

10150N

Para

304.7

305.5

0.41

16

0.8

0.0

0.1

0.2

4

60

BOU-DD24-295

10150N

Main

307.6

312.9

1.15

28

5.3

0.1

0.2

0.6

6

144

Including

311.1

312.4

2.39

29

1.3

0.0

0.3

0.7

6

244

BOU-DD24-295

10150N

Para

325.0

330.3

1.59

49

5.3

0.1

0.5

0.6

2

210

BOU-DD24-295

10150N

Para

388.6

390.0

3.15

84

1.4

0.1

0.1

1.1

4

371

BOU-DD24-296

3477900N

Tizi

57.9

58.4

0.62

24

0.5

0.1

0.1

1.5

59

124

BOU-DD24-296

3477900N

Tizi

63.4

64.0

0.57

8

0.6

0.0

0.2

0.5

6

73

BOU-DD24-296

3477900N

Tizi

154.0

158.2

2.79

50

4.2

0.1

0.1

0.3

7

289

BOU-DD24-297

3477900N

Tizi

24.2

24.8

0.89

4

0.6

0.0

0.5

0.7

11

106

BOU-DD24-297

3477900N

Tizi

43.5

46.0

2.15

11

2.5

0.0

0.5

0.5

9

205

BOU-DD24-297

3477900N

Tizi

93.0

94.0

0.68

4

1.0

0.0

0.9

0.7

4

102

BOU-DD24-297

3477900N

Tizi

99.5

100.0

2.20

28

0.5

0.1

1.3

3.0

4

326

BOU-DD24-297

3477900N

Tizi

115.7

116.2

4.02

64

0.5

0.1

2.2

6.3

1

623

BOU-DD24-297

3477900N

Tizi

136.2

136.9

0.50

28

0.7

0.0

1.4

2.4

5

175

BOU-DD24-297

3477900N

Tizi

211.8

212.4

0.66

20

0.6

0.0

0.1

0.1

3

77

BOU-DD24-297

3477900N

Tizi

235.1

235.7

2.76

28

0.6

0.1

0.0

0.1

2

250

BOU-DD24-298

10150N

Para

306.0

307.0

0.64

28

1.0

0.0

0.4

1.0

4

118

BOU-DD24-298

10150N

Para

310.0

311.0

0.03

396

1.0

0.0

1.2

2.3

19

497

BOU-DD24-298

10150N

Para

370.0

373.0

1.85

37

3.0

0.1

0.6

1.5

5

245

BOU-DD24-298

10150N

Main

382.0

386.3

1.08

30

4.3

0.0

0.6

1.8

4

183

Including

385.3

386.3

2.58

76

1.0

0.1

1.9

6.2

5

511

BOU-DD24-298

10150N

Para

391.1

391.9

0.52

4

0.8

0.0

0.2

0.2

6

57

BOU-DD24-298

10150N

Para

402.6

403.1

0.26

40

0.5

0.0

1.3

5.3

1

249

BOU-DD24-298

10150N

Para

428.0

429.4

3.14

39

1.4

0.1

0.2

0.4

4

301

BOU-DD24-298

10150N

Para

437.1

441.5

0.89

76

4.4

0.1

0.1

0.8

5

178

BOU-DD24-299

3477900N

Tizi

78.0

78.5

0.49

24

0.5

0.1

0.5

1.5

4

123

BOU-DD24-299

3477900N

Tizi

120.3

120.9

1.00

28

0.6

0.1

0.5

0.9

5

152

BOU-DD24-299

3477900N

Tizi

194.2

194.9

0.22

33

0.7

0.0

1.1

2.8

1

160

BOU-DD24-299

3477900N

Tizi

218.1

220.9

1.20

16

2.8

0.0

0.0

0.0

6

112

BOU-DD24-299

3477900N

Tizi

301.7

302.2

1.78

32

0.5

0.1

0.0

0.0

5

181

BOU-DD24-299

3477900N

Tizi

305.1

306.0

0.64

8

0.9

0.0

0.0

0.0

9

60

BOU-DD24-299

3477900N

Tizi

306.5

307.1

1.35

8

0.6

0.2

0.0

0.1

3

136

BOU-DD24-300

10150N

Main

491.9

493.6

0.96

54

1.7

0.0

1.5

3.5

2

271

BOU-DD24-300

10150N

Para

501.7

502.3

0.86

25

0.6

0.0

0.1

0.4

1

106

BOU-DD24-300

10150N

Para

507.7

508.4

1.72

45

0.7

0.1

0.6

2.0

2

254

BOU-DD24-301

3478100N

Tizi

114.4

134.6

0.00

2

20.2

0.0

0.0

0.0

0

4

BOU-DD24-301

3478100N

Tizi

145.3

146.1

0.21

100

0.8

0.2

1.6

5.4

10

333

BOU-DD24-301

3478100N

Tizi

212.7

214.1

0.33

34

1.4

0.0

1.6

4.1

2

221

BOU-DD24-301

3478100N

Tizi

219.8

220.3

0.57

16

0.5

0.0

0.0

0.1

3

66

BOU-DD24-301

3478100N

Tizi

227.8

228.8

1.22

8

1.0

0.0

0.1

0.1

4

107

BOU-DD24-302

10150N

Para

509.4

510.0

0.57

32

0.6

0.1

2.0

2.3

9

204

BOU-DD24-302

10150N

Para

567.7

568.2

0.30

28

0.5

0.0

0.1

0.8

3

79

BOU-DD24-302

10150N

Main

572.6

573.9

3.65

112

1.3

0.2

0.1

2.3

4

478

BOU-DD24-303

3478100N

Tizi

120.2

121.2

0.56

4

1.0

0.1

0.1

0.2

1

62

BOU-DD24-304

3478100N

Tizi

238.7

240.0

0.61

28

1.3

0.0

0.4

1.5

3

131

BOU-DD24-305

10150N

Para

512.3

512.9

0.41

16

0.6

0.0

0.3

1.0

2

84

BOU-DD24-305

10150N

Para

532.8

533.3

0.75

12

0.5

0.0

0.2

1.6

4

123

BOU-DD24-305

10150N

Para

572.2

572.8

0.63

4

0.6

0.0

0.2

1.1

6

91

BOU-DD24-305

10150N

Para

588.3

589.1

0.73

41

0.8

0.1

0.1

0.2

3

114

BOU-DD24-305

10150N

Para

606.1

606.6

0.33

36

0.5

0.0

0.3

1.3

3

109

BOU-DD24-306

3478100N

Tizi

314.1

317.1

11.48

89

3.0

0.2

0.2

0.8

3

1,021

Including

314.1

315.6

20.05

133

1.5

0.4

0.2

1.4

2

1,755

BOU-DD24-307

3477500N

Tizi

13.2

14.0

0.66

12

0.8

0.0

0.2

0.1

11

71

BOU-DD24-307

3477500N

Tizi

108.8

111.9

1.51

42

3.1

0.1

0.1

0.8

9

191

BOU-DD24-308

3477500N

Tizi

70.8

71.8

0.94

8

1.0

0.0

0.1

0.2

15

91

BOU-DD24-308

3477500N

Tizi

84.9

85.8

1.06

16

0.9

0.0

0.1

0.2

6

107

BOU-DD24-308

3477500N

Tizi

97.0

97.9

0.77

12

0.9

0.0

0.1

0.2

11

82

BOU-DD24-308

3477500N

Tizi

102.6

104.3

2.64

62

1.7

0.4

0.9

1.3

16

369

BOU-DD24-308

3477500N

Tizi

165.8

167.4

1.54

61

1.6

0.1

0.2

0.9

4

218

BOU-DD24-308

3477500N

Tizi

200.1

200.6

2.81

92

0.5

0.1

1.7

8.9

4

611

BOU-DD24-309

3477500N

Tizi

16.0

17.0

1.72

38

1.0

0.0

0.2

0.1

241

186

BOU-DD24-309

3477500N

Tizi

25.0

27.4

0.84

48

2.4

0.0

1.6

2.0

6

215

BOU-DD24-309

3477500N

Tizi

33.8

34.3

0.67

32

0.5

0.0

1.4

2.3

14

189

BOU-DD24-309

3477500N

Tizi

45.7

46.9

3.04

35

1.2

0.0

0.3

0.6

10

296

BOU-DD24-309

3477500N

Tizi

51.7

52.2

4.16

32

0.5

0.0

0.2

0.2

3

362

BOU-DD24-309

3477500N

Tizi

224.8

225.4

0.34

24

0.6

0.0

0.2

0.9

4

81

BOU-DD24-309

3477500N

Tizi

230.5

231.4

0.36

32

0.9

0.0

0.5

1.0

9

103

BOU-DD24-309

3477500N

Tizi

247.1

247.6

0.32

68

0.5

0.0

1.3

2.7

8

207

BOU-DD24-309

3477500N

Tizi

248.8

249.4

4.50

48

0.6

0.1

1.0

3.2

7

518

BOU-DD24-309

3477500N

Tizi

292.8

293.5

0.63

12

0.7

0.0

0.1

0.2

4

71

BOU-DD24-309

3477500N

Tizi

297.5

298.4

0.56

20

0.9

0.0

0.5

0.8

5

101

BOU-DD24-310

3477500N

Tizi

19.0

20.0

0.27

28

1.0

0.0

0.2

0.0

3

55

BOU-DD24-310

3477500N

Tizi

58.0

71.7

4.90

42

13.7

0.1

0.4

0.3

9

445

Including

58.0

59.6

23.34

148

1.6

0.2

0.4

0.5

17

1,988

Including

70.2

71.7

9.47

62

1.5

0.1

0.2

0.1

4

813

BOU-DD24-310

3477500N

Tizi

158.7

159.4

0.76

16

0.7

0.0

0.2

0.0

10

81

BOU-DD24-310

3477500N

Tizi

161.0

162.0

0.67

8

1.0

0.0

0.1

0.1

14

68

BOU-DD24-310

3477500N

Tizi

281.4

282.4

0.08

7,820

1.0

0.2

5.5

1.5

7

8,036

BOU-DD24-311

9550N

Main

103.5

110.6

0.62

17

7.1

0.1

0.3

1.0

15

105

 
* True width remains undetermined at this stage; all values are uncut.

**   Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%; a gold price of US$1,900/oz with a process recovery of 85%;  a zinc price of US$1.20/lb with a process recovery of 72%; a lead price of US$1.00/lb with a process recovery of 85%; and a copper price of US$4.00/lb with a process recovery of 75% resulting on the following ratios: 1 g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; and 1% Zn: 28.1 g/t Ag.

 
Appendix 2 – New Drillhole Coordinates of 2024 Boumadine Exploration Program (completed holes)

DDH No.

Easting

Northing

Elevation

Azimuth

Dip

Length (m)

BOU-DD24-283

315,963

3,477,960

1,270

250

-50

401.2

BOU-DD24-284

316,029

3,477,984

1,252

250

-50

509.2

BOU-DD24-285

314,668

3,478,391

1,244

110

-50

256.8

BOU-DD24-286

314,596

3,478,417

1,226

110

-50

342.5

BOU-DD24-287

314,523

3,478,444

1,221

110

-50

579.4

BOU-DD24-288

316,165

3,478,034

1,234

250

-50

540.0

BOU-DD24-289

316,282

3,478,076

1,234

250

-50

578.9

BOU-DD24-290

314,374

3,477,432

1,263

290

-50

300.1

BOU-DD24-291

316,377

3,478,111

1,258

250

-50

693.0

BOU-DD24-292

316,449

3,478,137

1,246

250

-50

755.4

BOU-DD24-293

314,549

3,477,368

1,283

290

-50

612.2

BOU-DD24-294

314,451

3,477,404

1,258

290

-50

425.9

BOU-DD24-295

316,137

3,478,235

1,233

250

-50

444.3

BOU-DD24-296

315,367

3,477,912

1,272

270

-50

222.6

BOU-DD24-297

315,453

3,477,912

1,273

270

-50

335.5

BOU-DD24-298

316,223

3,478,266

1,241

250

-50

556.6

BOU-DD24-299

315,541

3,477,912

1,273

270

-50

421.7

BOU-DD24-300

316,311

3,478,298

1,253

250

-50

670.4

BOU-DD24-301

315,389

3,478,111

1,280

270

-50

267.0

BOU-DD24-302

316,390

3,478,327

1,252

250

-50

762.1

BOU-DD24-303

315,461

3,478,111

1,267

270

-50

347.9

BOU-DD24-304

315,534

3,478,112

1,257

270

-50

479.6

BOU-DD24-305

316,457

3,478,351

1,234

250

-50

888.1

BOU-DD24-306

315,623

3,478,112

1,256

270

-50

504.0

BOU-DD24-307

315,339

3,477,511

1,284

270

-50

251.7

BOU-DD24-308

315,416

3,477,511

1,278

270

-50

300.2

BOU-DD24-309

315,510

3,477,511

1,286

270

-50

450.4

BOU-DD24-310

315,606

3,477,511

1,298

270

-50

490.6

BOU-DD24-311

316,340

3,477,671

1,233

250

-50

432.0

BOU-DD24-312

316,408

3,477,695

1,225

250

-50

525.0

BOU-DD24-313

316,057

3,477,398

1,251

320

-50

206.9

BOU-DD24-314

316,484

3,477,723

1,218

250

-50

539.6

BOU-DD24-315

316,108

3,477,338

1,245

320

-50

330.9

BOU-DD24-316

315,302

3,477,310

1,288

270

-50

223.1

BOU-DD24-317

315,385

3,477,310

1,283

270

-50

373.1

BOU-DD24-318

316,293

3,476,652

1,228

140

-50

236.7

BOU-DD24-319

316,236

3,476,720

1,230

140

-50

360.0

BOU-DD24-320

316,630

3,477,776

1,211

250

-50

162.0

BOU-DD24-321

315,469

3,477,311

1,285

270

-50

501.0

BOU-DD24-322

316,183

3,476,782

1,233

140

-50

510.0

BOU-DD24-323

316,706

3,477,804

1,208

250

-50

582.4

BOU-DD24-324

315,468

3,476,909

1,261

270

-50

243.0

BOU-DD24-326

316,094

3,476,576

1,245

140

-50

273.1

BOU-DD24-327

315,561

3,476,909

1,272

270

-50

321.5

BOU-DD24-328

316,039

3,476,261

1,232

140

-50

230.4

BOU-DD24-329

316,036

3,476,645

1,250

140

-50

370.4

BOU-DD24-330

316,203

3,477,835

1,228

250

-50

252.0

BOU-DD24-331

315,623

3,477,302

1,300

320

-50

204.8

BOU-DD24-336

315,363

3,476,512

1,283

270

-50

210.7