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June 1, 2022

Aya Gold & Silver: Step-Out Drilling Extends Eastern and Central Mineralization at Zgounder

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Montreal, Quebec, June 1, 2022 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce high-grade silver results from its step-out drilling program at the Zgounder Silver Mine in the Kingdom of Morocco.

Key Highlights (all intersections are in core lengths) 

  • Follow-up of mineralised slopes with DZG-SF-22-07 at the 1,975 level, which intercepted 1,748 grams per tonne (“g/t”) silver (“Ag”) over 8.5 meters (“m”) including
    • 14,720 g/t Ag over 1.5m
    •  6,480 g/t Ag over 1.5m
    • 3,460 g/t Ag over 0.5m
  • Hole T28-22-1975-01 located below current mine galleries, intercepted 3,260 g/t Ag over 3.6m including
    • 5,096 g/t Ag over 1.2m
    •  4,525 g/t Ag over 1.2m
  • Definition of near-surface mineralization to the east with ZG-22-04, which intercepted 796 g/t Ag over 11m including
    • 7,760 g/t Ag over 0.5m
    • 3,760 g/t Ag over 0.5m
  • Continued definition at the 1975m level with T28-22-1975-803, which intercepted 1,896 g/t Ag over 3.6m including
    • 3,520 g/t Ag over 1.2m
    • 1,948 g/t Ag over 1.2m
  • Extension of the eastern strike by ZG-22-10, which also intercepted 1,089 g/t Ag over 6m including
    • 2,720 g/t Ag over 1.5m
    • 1,092 g/t Ag over 1.5m

 

“Today’s step-out results confirm high-grade continuity below current mine galleries and in the central portion of the mine.  Additionally, holes ZG-22-04 and ZG-22-10 intercepted high-grade intervals that further define the eastern strike close to surface. Overall, results continue to support Zgounder’s near-term expansion potential, providing additional support for our updated resource statement later this year,” said Benoit La Salle, President & CEO.

Included in this release are results for 82 holes , which include 14 surface diamond drill holes (“DDH”), 6 underground DDH, 50 T28 and 12 YAK (T28 & YAK: percussion drilling using an air-compressed hammer) holes.  For a full summary of today’s results, refer to Appendixes 1 and 2.

 

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

Hole No.

From (m)

To (m)

Length1 (m)

Ag2 (g/t)

Surface

ZG-22-04

 

5.50

8.50

3.00

 130

19.00

30.00

11.00

 796

 

including

0.50

 1,026

 

including

0.50

 7,760

 

including

0.50

 3,760

33.50

36.00

2.50

 121

46.50

49.00

2.50

 425

51.50

52.50

1.00

 888

56.00

60.50

4.50

 208

69.50

70.00

0.50

 156

76.00

77.00

1.00

 192

98.50

99.00

0.50

 188

121.50

123.00

1.50

 324

167.00

172.00

5.00

 651

5.50

8.50

3.00

 130

ZG-22-10

 

4.50

10.50

6.00

 90

16.50

22.50

6.00

 1,089

 

including

1.50

 2,720

 

including

1.50

 1,092

Underground

DZG-SF-22-07

24.00

32.50

8.50

 1,748

 

including

0.50

 3,460

 

including

1.50

 14,720

 

including

1.50

 6,480

TD28-22-2125-058

2.40

10.80

8.40

 527

 

including

1.20

 2,184

TD28-22-2075-066

25.20

26.4

1.20

 1,000 

T28-22-1975-01

4.80

8.400

3.60

 3,260

 

including

1.20

 5,096

 

including

1.20

 4,525

14.40

26.40

12.00

 296

T28-22-1975-803

0.00

1.20

1.20

 104

2.40

3.60

1.20

 76

10.80

14.40

3.60

 1,896

 

including

1.20

 1,948

 

including

1.20

 3,520

TD28-22-2125-047

4.80

7.2

2.40

 1,028 

TD28-22-2030-092

3.60

6.00

2.40

 1,456 

 

including

1.20

 2,800 

10.80

15.60

4.80

 513 

 

including

1.20

 1,772 

TD28-22-1975-110

0.00

3.60

3.60

 1,492

 

including

1.20

 1,804

 

including

1.20

 2,550

YAKD-22-1975-010

16.80

19.20

2.40

 1,761

YAKD-22-2000-024

13.20

15.60

2.40

 1,100

YAKD-22-2000-026

3.60

13.20

9.60

 412

 

including

1.20

 1,940

YAK-22-2030-1

0.00

3.60

3.60

 1,036

13.20

14.40

1.20

 106

18.00

20.40

2.40

 265

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 as per Appendixes 1 & 2


Quality Assurance

For core drilling, all individual samples represent approximately one metre 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 (“ZMSM”) 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.

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”,  “de-risk”, “expect”, “demonstrate”, “continuity”, “potential”, “continue”, “expand”, “seems”, 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 2021 Annual Information Form dated March 31, 2022, 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)

DZG-21-28

81.50

83.00

1.50

 743

234.00

235.00

1.00

 76

238.50

239.50

1.00

 350

251.00

251.50

0.50

 109

268.00

272.00

4.00

 247

278.00

283.00

5.00

 255

291.00

292.00

1.00

 710

ZG-22-03

221.50

223.00

1.50

 89

229.50

231.00

1.50

 851

ZG-22-04

5.50

8.50

3.00

 130

19.00

30.00

11.00

 796

 

including

0.50

 1,026

 

including

0.50

 7,760

 

including

0.50

 3,760

33.50

36.00

2.50

 121

46.50

49.00

2.50

 425

51.50

52.50

1.00

 888

56.00

60.50

4.50

 208

69.50

70.00

0.50

 156

76.00

77.00

1.00

 192

98.50

99.00

0.50

 188

121.50

123.00

1.50

 324

167.00

172.00

5.00

 651

ZG-22-06

7.50

10.50

3.00

 142

262.00

263.00

1.00

 96

386.00

387.50

1.50

 167

ZG-22-07

26.00

27.50

1.50

 495

30.50

32.00

1.50

 77

ZG-22-09

31.00

36.50

5.50

 389

56.00

57.00

1.00

 108

63.00

64.00

1.00

 100

65.50

66.50

1.00

 84

ZG-22-10

4.50

10.50

6.00

 90

16.50

22.50

6.00

 1,089

 

including

1.50

 2,720

 

including

1.50

 1,092

ZG-22-11

7.50

16.50

9.00

 495

31.50

37.50

6.00

 326

42.00

46.50

4.50

 536

136.00

142.00

6.00

 304

144.50

150.50

6.00

 163

ZG-22-12

72.00

77.00

5.00

 570

ZG-22-13

311.00

312.50

1.50

 232

315.50

317.00

1.50

 80

ZG-22-14

184.00

185.50

1.50

 194

ZG-22-15

17.50

19.50

2.00

 394

33.00

36.00

3.00

 256

ZG-22-16

174.50

176.50

2.00

 598

ZG-22-22

174.50

177.50

3.00

 186

184.00

186.00

2.00

 403

212.00

213.50

1.50

 187

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)

DZG-SF-22-06

9.00

11.00

2.00

 199

DZG-SF-22-07

24.00

32.50

8.50

 1,748

 

including

0.50

 3,460

 

including

1.50

 14,720

 

including

1.50

 6,480

DZG-SF-22-32

29.50

34.00

4.50

 792

84.00

85.50

1.50

 96

DZG-SF-22-35

 

38.00

41.00

3.00

 378

47.00

52.00

5.00

 674

56.50

58.50

2.00

 86

89.00

90.50

1.50

 344

95.00

98.50

3.50

 275

DZG-SF-22-37

18.00

19.00

1.00

 136

DZG-SF-22-41

25.50

31.00

5.50

 81

T28 Drilling

T28-22-2075-808

 

14.40

15.60

1.20

 212

22.80

24.00

1.20

 84

T28-22-2075-809

 

0.00

1.20

1.20

 192

12.00

13.20

1.20

 92

T28-22-2075-811

4.80

8.40

3.60

 79

T28-22-2075-812

2.40

3.60

1.20

 84

T28-22-2075-814

14.40

20.40

6.00

 384

T28-22-2075-815

14.40

21.60

7.20

 478

T28-22-2075-817

12

15.60

3.60

 158

T28-22-2075-818

2.4

6.00

3.60

 149

T28-22-2075-819

13.2

14.40

1.20

 448

TD28-22-2125-037

2.40

6.00

3.60

 187

TD28-22-2125-038

15.60

20.40

4.80

 319

TD28-22-2125-039

7.20

9.60

2.40

 95

TD28-22-2125-056

2.40

9.60

7.20

 455

TD28-22-2125-058

2.40

10.80

8.40

 527

 

including

1.20

 2,184

TD28-22-2075-064

4.80

7.20

2.40

 308

TD28-22-2075-065

0.00

2.40

2.40

 158

21.60

25.20

3.60

 529

TD28-22-2075-066

25.20

26.40

1.20

 1,000

TD28-22-2075-067

0.00

2.40

2.40

 146

4.80

9.60

4.80

 104

TD28-22-2075-070

15.60

25.20

9.60

 150

TD28-22-2075-071

14.40

15.60

1.20

 84

19.20

20.40

1.20

 76

TD28-22-2075-072

12.00

13.20

1.20

 792

22.80

24.00

1.20

 492

TD28-22-2075-073

21.60

22.80

1.20

 99

T28-22-1975-01

4.80

8.400

3.60

 3,260

 

including

1.20

 5,096

 

 

1.20

 4,525

14.40

26.40

12.00

 296

T28-22-1975-800

8.40

9.60

1.20

 664

T28-22-1975-801

6.00

7.20

1.20

 108

T28-22-1975-803

0.00

1.20

1.20

 104

2.40

3.60

1.20

 76

10.80

14.40

3.60

 1,896

 

including

1.20

 1,948

 

including

1.20

 3,520

T28-22-1975-804

8.40

10.80

2.40

 140

T28-22-1975-807

19.20

20.40

1.20

 208

TD28-22-2125-044

12.00

13.20

1.20

 500

TD28-22-2125-047

4.80

7.20

2.40

 1,028

TD28-22-2125-048

0.00

2.40

2.40

 102

4.80

7.20

2.40

 682

10.80

13.20

2.40

 740

TD28-22-2125-049

0.00

3.60

3.60

 641

8.40

10.80

2.40

 178

19.20

20.40

1.20

 88

TD28-22-2125-050

7.20

9.60

2.40

 94

TD28-22-2030-090

2.40

3.60

1.20

 356

TD28-22-2030-092

3.60

6.00

2.40

 1,456

 

including

1.20

 2,800

10.80

15.60

4.80

 513

 

including

1.20

 1,772

TD28-22-2030-093

3.60

4.80

1.20

 772

7.20

12.00

4.80

 175

TD28-22-2030-094

4.80

9.60

4.80

 88

TD28-22-2030-095

4.80

6.00

1.20

 88

TD28-22-2030-097

7.20

10.80

3.6

 137

18.00

19.20

1.2

88

TD28-22-1975-110

0.00

3.60

3.60

 1,492

 

including

1.20

 1,804

 

including

1.20

 2,550

TD28-22-1975-111

1.20

2.40

1.20

 488

TD28-22-1975-112

15.60

18.00

2.40

 223

TD28-22-1975-113

15.60

16.80

1.20

 150

22.80

24.00

1.20

 76

TD28-22-1975-115

0.00

4.80

4.80

 158

7.20

8.40

1.20

 116

10.80

12.00

1.20

 148

18.00

19.20

1.20

 268

TD28-22-1975-117

0.00

6.00

6.00

 285

14.40

15.60

1.20

 112

18.00

19.20

1.20

 80

TD28-22-1975-118

0.00

2.40

2.40

 628

TD28-22-1975-119

14.40

16.80

2.40

 142

TD28-22-1975-101

0.00

2.40

2.40

 144

8.40

9.60

1.20

 208

TD28-22-1975-104

8.40

9.60

1.20

 76

TD28-22-1975-108

4.80

6.00

1.20

 92

YAK Drilling

YAKD-22-1975-009

18.00

21.60

3.60

 175

YAKD-22-1975-010

16.80

19.20

2.40

 1,761

YAKD-22-1975-012

24.00

25.20

1.20

 220

YAKD-22-1975-013

2.40

3.60

1.20

 116

YAKD-22-2075-017

10.80

13.20

2.40

 372

YAKD-22-2075-018

10.80

14.40

3.60

 736

16.80

18.00

1.20

 109

48.00

50.40

2.40

 576

YAKD-22-2075-020

22.80

27.60

4.80

 229

39.60

46.80

7.20

 654

YAKD-22-2000-024

13.20

15.60

2.40

 1,100

YAKD-22-2000-026

3.60

13.20

9.60

 412

 

including

1.20

 1,940

YAK-22-2030-1

0.00

3.60

3.60

 1,036

13.20

14.40

1.20

 106

18.00

20.40

2.40

 265

YAK-22-2030-3

8.40

10.80

2.40

 741

15.60

18.00

2.40

 301

YAK-22-2030-3bis

6.20

9.20

3.00

 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.