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Aya Gold & Silver Intercepts 1,946 g/t Ag over 9m at Zgounder, Extending Strike East

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Montreal, Quebec, February 16, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased to announce additional high-grade silver results from its 2020 diamond drill hole (“DDH”) exploration program at the Zgounder Silver Mine in the Kingdom of Morocco. Results from 12 DDH continue to intersect high-grade silver mineralisation along strike to the east and at depth below the current resource.

Key Highlights

  • ZG-20-30 intersected 1,946 grams per tonne (“g/t”) Ag over 9.0m
  • ZG-20-31 intersected 688 g/t Ag over 17.5m
  • ZG-SF-20-15 intersected 1,505 g/t Ag over 6m
  • Surface results demonstrate high-grade silver extension to the east
  • Underground results extend high-grade silver mineralisation at depth
  • Drilling is underway to extend the strike to the west

The 12 DDH results comprise ten holes from surface and two holes at depth, many of which are mineralised between previously identified intervals. Significant high-grade intersections were encountered in seven of the drill holes. In particular, ZG-20-30, which intersected 1,946 g/t Ag over 9m (see Table 1), extended the strike to the east and is the second-best drill result of the 2020 drill exploration program after ZG-20-06. Furthermore, hole ZG-20-31, located east of ZG-20-30, intersected 688 g/t Ag over 17.5m. Additionally, hole ZG-SF-20-15 intersected several significant high-grade intervals including 1,505 g/t Ag over 6m and 855 g/t Ag over 5.5m, confirming high-grade silver mineralisation at depth to the east and below the 1,975m level.

“Today’s drill results continue to exceed expectations and demonstrate the potential of Zgounder. The exploration efforts have delivered some of our most significant results to date, extending the high-grade strike to the east and confirming continuity and high-grade mineralisation at depth,” said Benoit La Salle, President & CEO.

For a comprehensive summary of today’s results from the 2020 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

Hole No.

From (m)

To (m)

Length1 (m)

Ag2 (g/t)

Surface

ZG-20-01

62.00

63.50

1.50

2,114

 

including

0.50

5,712

99.50

107.00

7.50

588

 

including

1.00

2,480

 

including

0.50

2,720

ZG-20-11

102.50

104.00

1.50

 2,040 

ZG-20-29bis

169.00

176.00

7.00

 557 

 

including

0.50

 1,132 

 

including

0.50

 1,360 

 

including

0.50

 1,120 

 

including

0.50

 2,480 

179.00

191.50

12.50

 304 

 

including

0.50

 2,560 

 

including

0.50

 1,360 

210.00

216.00

6.00

 1,365 

 

including

1.00

 2,640 

 

including

1.00

 4,800 

ZG-20-30

225.00

234.00

9.00

 1,946 

 

including

1.00

 7,426 

 

including

1.00

 1,390 

 

including

1.00

 7,520 

ZG-30-31

53.50

71.00

17.50

 688 

 

including

1.50

 1,061 

 

including

1.00

 1,269 

 

including

1.00

 4,081 

Underground

ZG-SF-20-03

0.00

0.50

0.50

 1,368 

124.00

125.00

1.00

 1,880 

ZG-SF-20-15

6.50

12.00

5.50

 855 

 

including

1.00

 2,720 

 

including

1.00

 1,077 

24.00

27.00

3.00

 911 

0.49

including

1.00

 2,240 

35.00

41.00

6.00

 1,505 

 

including

1.00

 1,640 

 

including

1.00

 3,758 

 

including

1.00

 3,240 

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 at Zgounder

2021 Exploration Program

The 2021 drill exploration program recently started with a 12 DDH program, focused on the western strike extension of Zgounder (see Figure 1). A number of drill holes have already been completed, with logging and sampling in progress. The Corporation plans to outline its 2021 drill exploration program in the coming weeks and will build on recent high-grade results to the east in addition to drill exploration efforts to the west and at depth.

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 (“Afrilab”) 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 "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “confirm”, “extend”, “validate”, “designed”, “aim”, “typically”, “will”, “expected”, “reasonable”, “established”, “has”, “demonstrate”, “potential”, “expect” or variations of such words and phrases or state that certain actions, events or results "may", "could", "would" or "might". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits including the accuracy of the current mineral reserve and mineral resource estimates of the Corporation (including, but not limited to, ore tonnage and ore grade estimates) and mine plans for the Corporation’s mining operations (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics); (v) the risk associated with establishing title to mineral properties and assets including permitting, development, operations and production from the Corporation’s operations being consistent with expectations and projections; (vi) fluctuations in commodity prices and other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the Corporation and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.

Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Corporation's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Corporation does not undertake to update such forward-looking information except in accordance with applicable securities laws.

Appendix 1 – Mineral Intercepts from Surface Drilling from Zgounder

Hole No.

From

 (m)

To

 (m)

Length1

 (m)

Ag2

 (g/t)

ZG-20-01

51.00

54.00

3.00

149

62.00

63.50

1.50

2,114

 

including

0.50

5,712

77.00

79.00

2.00

318

99.50

107.00

7.50

588

 

including

1.00

2,480

 

including

0.50

2,720

154.40

155.50

1.00

244

396.00

397.50

1.50

 104 

415.00

416.50

1.50

 124 

422.00

426.50

4.50

 396 

473.00

474.50

1.50

 1,000 

ZG-20-07

329.00

330.50

1.50

 145 

323.00

326.00

3.00

 127 

450.00

451.50

1.50

 448 

ZG-20-08

334.00

335.00

1.00

 648 

340.00

342.00

2.00

 137 

343.00

344.00

1.00

 140 

399.00

402.00

3.00

 81 

406.50

410.00

3.50

 141 

ZG-20-11

102.50

104.00

1.50

 2,040 

 

140.50

142.00

1.50

 160 

146.50

148.00

1.50

 124 

289.00

290.00

1.00

 511 

296.00

297.50

1.50

 102 

ZG-20-19A

26.00

27.50

1.50

 133 

187.50

189.50

2.00

 266 

207.00

209.00

2.00

 585 

231.00

232.00

1.00

 630 

237.00

238.00

1.00

 272 

245.00

247.00

2.00

 402 

259.00

260.00

1.00

 200 

ZG-20-29bis

12.00

13.00

1.00

 104 

116.00

119.00

3.00

 221 

133.00

139.00

6.00

 166 

169.00

176.00

7.00

 557 

 

including

0.50

 1,132 

 

including

0.50

 1,360 

 

including

0.50

 1,120 

 

including

0.50

 2,480 

179.00

191.50

12.50

 304 

 

including

0.50

 2,560 

 

including

0.50

 1,360 

210.00

216.00

6.00

 1,365 

 

including

1.00

 2,640 

 

including

1.00

 4,800 

ZG-20-30

0.00

1.50

1.50

 84 

59.00

61.00

2.00

 154 

66.00

66.50

0.50

 76 

95.00

97.00

2.00

 424 

101.50

103.00

1.50

 187 

163.00

171.00

8.00

 136 

220.00

222.00

2.00

 244 

225.00

234.00

9.00

 1,946 

 

including

1.00

 7,426 

 

including

1.00

 1,390 

 

including

1.00

 7,520 

237.00

238.00

1.00

 527 

ZG-20-31

53.50

71.00

17.50

 688 

 

including

1.50

 1,061 

 

including

1.00

 1,269 

 

including

1.00

 4,081 

ZG-20-32

70.00

72.50

2.50

 324 

ZG-20-33

3.00

4.50

1.50

 102 

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

Hole No.

From

 (m)

To

 (m)

Length1

 (m)

Ag2

 (g/t)

ZG-SF-20-03

0.00

0.50

0.50

 1,368 

20.00

23.00

3.00

 110 

40.00

41.50

1.50

 188 

59.50

64.00

4.50

 534 

 

including

1.50

 1,503 

124.00

125.00

1.00

 1,880 

140.50

142.00

1.50

 120 

ZG-SF-20-15

6.50

12.00

5.50

 855 

 

including

1.00

 2,720 

 

including

1.00

 1,077 

24.00

27.00

3.00

 911 

 

including

1.00

 2,240 

29.00

29.50

0.50

 80 

35.00

41.00

6.00

 1,505 

 

including

1.00

 1,640 

 

including

1.00

 3,758 

 

including

1.00

 3,240 

44.50

45.50

1.00

 288 

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.