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Aya Gold & Silver Intercepts 1,383 g/t Ag over 13.5m, Extending Zgounder High-Grade Silver Mineralisation Further at Depth

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Montreal, Quebec, November 17, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased to report additional high-grade silver results from the ongoing 2021 drill exploration program at the Zgounder Silver Mine in the Kingdom of Morocco.

Key Highlights (all intersections are in core lengths)

  • Extension of the mineralised trend below the 1975 level by ZG-SF-21-67 which encountered 1,383 grams per tonne (“g/t”) silver (“Ag”) over 13.5 meters (“m”) including
    • 10,960 g/t Ag over 0.5m
    • 10,435 g/t Ag over 0.5m
    • 5,000 g/t Ag over 0.5m
    • 3,002 g/t Ag over 0.5m
    • 1,598 g/t Ag over 0.5m

 

  • Confirmation of the eastern vertical continuity 200m below surface with ZG-21-51 which generated 1,615 g/t Ag over 8.5m including
  • 11,360 g/t Ag over 0.5m
  • 8,840 g/t Ag over 0.5m
  • 1,840 g/t Ag over 0.5m
  • 1,752 g/t Ag over 0.5m

 

  • Ongoing definition of high-grade* mineralisation below the 2,030m level with ZG-21-50 which returned 2,446 g/t Ag over 4.0m including
    • 10,635 g/t Ag over 0.5m
    • 8,080 g/t Ag over 0.5m

    in addition to 5,778 g/t Ag over 2.0m including

    • 15,240 g/t Ag over 0.5m
    • 6,075 g/t Ag over 0.5m
    • 1,528 g/t Ag over 0.5m

 

  • Continued definition of eastern high-grade mineralisation with ZG-21-43 which returned 2,311 g/t Ag over 2.0m including
    • 2,080 g/t Ag over 2.0m
    • 1,821 g/t Ag over 3.0m

 

“Today’s results confirm high-grade continuity along strike and at depth to the east. These outstanding results also demonstrate high-grade continuity below the current resource and outline the upside potential outside of our current resource drill-out area. In particular, intersection ZG-SF-21-67 opens up a previously untested area below the mining operations. Our upcoming resource estimate is expected to represent a first step in expanding Zgounder, which remains open where we are currently drilling,” said Benoit La Salle, President & CEO.

Included in this release are results for 30 diamond drill holes (“DDH”), which include eight DDH from surface and 22 underground holes. For a full summary of today’s results from the 2021 drill program, refer to Appendix 1 for surface results and Appendix 2 for underground results.

 

Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)

Hole No.

From (m)

To (m)

Length1 (m)

Ag2 (g/t)

Surface

ZG-21-43

6.00

7.50

1.50

 264

177.00

181.00

4.00

 100

224.00

226.00

2.00

 2,311

270.00

273.00

3.00

 1,821

359.50

361.00

1.50

 148

376.00

377.50

1.50

 2,080

448.00

449.50

1.50

 124

451.00

452.50

1.50

88

ZG-21-50

102.00

106.00

4.00

2,446

 

 including

 0.50

 8,080

 

including

 0.50

10,635

113.50

116.50

3.00

182

173.50

175.50

2.00

5,778

 

 including

 0.50

1,528

 

 including

 0.50

15,240

 

 including

 0.50

6,075

ZG-21-51

48.50

53.00

4.50

167

69.00

71.00

2.00

122

154.00

154.50

0.50

152

212.50

213.00

0.50

96

219.50

228.00

8.50

1,615

 

 including

 0.50

1,752

 

 including

 0.50

11,360

 

 including

 0.50

 8,840

 

 including

 0.50

1,840

232.50

234.00

1.50

480

392.00

399.50

7.50

159

ZG-21-58

3.00

4.50

1.50

92

45.50

46.50

1.00

80

132.50

133.50

1.00

80

136.00

139.00

3.00

1,703

 

 including

 0.50

3,920

 

 including

 0.50

3,560

152.50

154.00

1.50

113

211.50

212.50

1.00

120

Underground

ZG-SF-21-50

3.00

4.50

1.50

1,871

87.00

88.00

1.00

1,012

ZG-SF-21-52

20.00

25.50

5.50

994

34.00

34.50

0.50

1,044

37.50

38.00

0.50

160

45.00

46.50

1.50

189

60.00

61.50

1.50

76

71.00

74.00

3.00

614

ZG-SF-21-53

0.00

3.00

3.00

106

59.00

60.50

1.50

1,547

63.00

63.50

0.50

114

ZG-SF-21-62

5.50

8.00

2.50

1,606

ZG-SF-21-66

18.00

19.50

1.50

76

42.00

43.50

1.50

1,452

51.00

54.00

3.00

420

56.50

58.50

2.00

700

ZG-SF-21-67

19.50

23.50

4.00

135

70.50

84.00

13.50

1,383

 

 including

 0.50 

1,598

 

 including

 0.50 

5,000

 

 including

 0.50 

10,960

 

 including

 0.50 

10,435

 

 including

 0.50 

3,002

125.50

127.00

1.50

96

ZG-SF-21-77

36.00

38.00

2.00

2,865

 

including

 0.50 

9,584

48.00

49.50

1.50

244

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 from Surface and Underground Drilling as per Appendixes 1 & 2

 

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 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 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
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”, “continuity”, “potential”, “continue”, “expand”, “potential”, “plans”, “expects”, “believe”, “intend”, 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 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 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 at Zgounder (core lengths)

Hole No.

From

 (m)

To

 (m)

Length1

 (m)

Ag2

 (g/t)

ZG-21-43

6.00

7.50

1.50

264

177.00

181.00

4.00

100

224.00

226.00

2.00

2,311

270.00

273.00

3.00

1,821

359.50

361.00

1.50

148

376.00

377.50

1.50

2,080

448.00

449.50

1.50

124

451.00

452.50

1.50

88

ZG-21-46

4.50

6.00

1.50

380

23.50

25.00

1.50

228

30.50

32.00

1.50

124

56.50

60.00

3.50

273

97.50

98.50

1.00

485

ZG-21-49

21.00

22.50

1.50

590

ZG-21-50

102.00

106.00

4.00

2,446

 

including

 0.50

8,080

 

including

 0.50

10,635

113.50

116.50

3.00

182

173.50

175.50

2.00

5,778

 

including

 0.50

1,528

 

including

 0.50

15,240

 

including

 0.50

6,075

ZG-21-51

48.50

53.00

4.50

167

69.00

71.00

2.00

122

154.00

154.50

0.50

152

212.50

213.00

0.50

96

219.50

228.00

8.50

1,615

 

including

 0.50

1,752

 

including

 0.50

11,360

 

including

 0.50

8,840

 

including

 0.50

1,840

232.50

234.00

1.50

480

392.00

399.50

7.50

159

ZG-21-52

40.50

41.50

1.00

192

96.50

98.00

1.50

168

ZG-21-58

3.00

4.50

1.50

 92

45.50

46.50

1.00

 80

132.50

133.50

1.00

 80

136.00

139.00

3.00

1,703

 

including

 0.50

3,920

 

including

 0.50

3,560

152.50

154.00

1.50

113

211.50

212.50

1.00

120

ZG-21-59

97.00

97.50

0.50

76

164.00

165.00

1.00

366

199.00

201.50

2.50

121

256.00

257.00

1.00

 830

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)

ZG-SF-21-41

4.00

4.50

0.50

166

ZG-SF-21-43

15.50

16.00

0.50

76

44.50

49.00

4.50

309

59.50

61.00

1.50

132

ZG-SF-21-45

5.00

6.00

1.00

156

ZG-SF-21-46

7.50

10.50

3.00

204

26.00

32.00

6.00

252

41.00

42.50

1.50

96

84.00

85.50

1.50

160

ZG-SF-21-47

25.50

28.50

3.00

310

ZG-SF-21-49

286.00

287.50

1.50

92

300.00

301.00

1.00

104

ZG-SF-21-50

3.00

4.50

1.50

1,871

87.00

88.00

1.00

1,012

ZG-SF-21-52

20.00

25.50

5.50

994

34.00

34.50

0.50

1,044

37.50

38.00

0.50

160

45.00

46.50

1.50

189

60.00

61.50

1.50

76

71.00

74.00

3.00

614

ZG-SF-21-53

0.00

3.00

3.00

106

59.00

60.50

1.50

1,547

63.00

63.50

0.50

114

ZG-SF-21-54

83.50

84.50

1.00

204

ZG-SF-21-56

7.00

10.00

3.00

225

15.00

23.50

8.50

603

ZG-SF-21-58

27.00

28.50

1.50

824

67.00

68.00

1.00

84

ZG-SF-21-60

46.50

52.00

5.50

207

63.50

65.00

1.50

84

101.50

103.00

1.50

76

ZG-SF-21-62

5.50

8.00

2.50

1,606

ZG-SF-21-63

28.00

29.00

1.00

112

51.00

54.00

3.00

526

ZG-SF-21-65

3.00

7.50

4.50

287

ZG-SF-21-66

18.00

19.50

1.50

76

42.00

43.50

1.50

1,452

51.00

54.00

3.00

420

56.50

58.50

2.00

700

ZG-SF-21-67

19.50

23.50

4.00

135

70.50

84.00

13.50

1,383

 

including

 0.50

1,598

 

including

 0.50

5,000

 

including

 0.50

10,960

 

including

 0.50

10,435

 

including

 0.50

3,002

125.50

127.00

1.50

96

ZG-SF-21-71

5.50

7.50

2.00

262

ZG-SF-21-77

36.00

38.00

2.00

2,865

 

including

 0.50

9,584

48.00

49.50

1.50

244

ZG-SF-21-78

27.00

28.50

1.50

76

ZG-SF-21-79

37.00

38.00

1.00

181

47.50

48.00

0.50

116

55.00

56.50

1.50

220

59.50

61.50

2.00

155

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.