Aya Gold & Silver Announces At-Depth Drill Results at Zgounder Provides Notice of Q1-2024 Results and Conference Call


MONTREAL, May 02, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce high-grade silver drill results from its at-depth drill exploration program at the Zgounder Silver Mine in the Kingdom of Morocco.

  • Key Highlights

(all intersections are in core lengths)

  • In the Central Zone from the 1,950m level:
    • hole ZG-SF-24-107 intercepted 1,459 grams per tonne (“g/t”) silver (“Ag”) over 5.5 meters (“m”), including 3,086 g/t Ag over 2.5m
  • In the Western Zone from the 2,000m level:
    • hole DZG-SF-24-018 intercepted 902 g/t Ag over 11.0m, including 1,453 g/t Ag over 6.5m
    • hole DZG-SF-24-025 intercepted 1,548 g/t Ag over 4.0m, including 5,794 g/t Ag over 1.0m
  • In the Eastern Zone from the 2,075m level:
    • hole T28-24-2075-122 intercepted 1,458 g/t Ag over 9.6m, including 2,804 g/t Ag over 4.8m
    • hole T28-24-2075-123 intercepted 2,055 g/t Ag over 4.8m, including 3,924 g/t Ag over 2.4m
  • In the Central Zone from the 1,950m level:
    • hole YAKD-24-1950-015 intercepted 465 g/t Ag over 20.4m, including 1,393 g/t Ag over 3.6m
  • Exploration holes near the granite contact:
    • ZG-SF-23-076 intercepted 594 g/t Ag over 3.0m
    • ZG-SF-24-096 intercepted 780 g/t Ag over 2.0m
    • ZG-SF-24-102 intercepted 524 g/t Ag over 3.0m
    • ZG-SF-24-110 intercepted 375 g/t Ag over 7.5m and 1,108 g/t Ag over 1.5m
    • ZG-SF-24-115 intercepted 1,177 g/t Ag over 1.5m
  • 9,900m of the 2024 underground exploration program drilled year to date

“Today’s high-grade drill results including holes DZG-SF-24-018 and DZG-SF-24-025 continue to confirm high-grade continuity of silver mineralization at Zgounder,” said Benoit La Salle, President & CEO. “Furthermore, we are pleased with the new silver rich intercepts near the granite contact, demonstrating strong resource potential at depth at Zgounder. We currently have four underground rigs turning and expect more significant drill results in the coming months.”

Included in this release are results for 176 holes, which include 52 underground Diamond Drill Holes (“DDH”), 8 surface DDH, 100 T28 and 16 YAK holes (T28 and YAK: percussion drilling using an air-compressed hammer). For a full summary of today’s results, refer to Appendix 1.

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

HOLE ID
From To Ag 
(g/t) 
Length 
(m)* 
Ag x width 
Underground DDH
ZG-SF-23-076288.0291.05943.01,782
ZG-SF-24-096264.0266.07802.01,560
ZG-SF-24-102124.0127.05243.01,572
ZG-SF-24-107100.0105.51,4595.58,022
Including 100.0102.53,0862.57,714
ZG-SF-24-10867.770.71,2923.03,876
ZG-SF-24-11082.089.53757.52,816
Including 86.587.52,1121.02,112
ZG-SF-24-11093.595.01,1081.51,662
ZG-SF-24-115164.0165.51,1771.51,766
DZG-SF-24-0160.033.518033.56,018
Including 28.531.56073.01,820
DZG-SF-24-01763.067.04424.01,769
DZG-SF-24-01810.521.590211.09,924
Including 14.020.51,4536.59,442
DZG-SF-24-0211.05.09534.03,810
Including 2.03.52,2961.53,444
DZG-SF-24-02528.532.51,5484.06,190
Including 31.532.55,7941.05,794
DZG-SF-24-02928.537.51849.01,656
DZG-SF-24-03761.067.06356.03,810
Underground T28
TD28-24-1950-0320.04.89724.84,664
TD28-24-1975-07310.814.41,0083.63,629
TD28-24-1975-07513.215.66622.41,588
TD28-24-2075-1220.09.61,4589.614,000
Including0.04.82,8044.813,458
TD28-24-2075-1230.04.82,0554.89,864
Including0.02.43,9242.49,418
Underground YAK
YAKD-24-1950-00528.833.63454.81,656
YAKD-24-1950-01325.231.23656.02,192
YAKD-24-1950-01434.845.641610.84,496
Including37.239.61,2122.42,909
YAKD-24-1950-01528.849.246520.49,478
Including33.637.21,3933.65,014
YAKD-24-1950-02130.034.83374.81,618


Figure 1: Location of Drill Results at Zgounder

Figure 1 EN

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 (“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 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.

David Lalonde, B.Sc. P. Geo, Head of Exploration, is Aya Gold & Silver’s Qualified Person and has reviewed this press release for accuracy and compliance with National Instrument 43-101.

Q1-2024 Results and Conference Call

The Corporation will release its Q1-2024 financial and operational results on May 15, 2024 before market-open.

Management will host a conference call on the same day, Wednesday, May 15, 2024, at 10 am EDT to discuss the results.

Webcast link: https://edge.media-server.com/mmc/p/krs2wcnf/

Instructions for obtaining conference call dial-in numbers:

  1. All parties must register on the link below to participate in the conference call.
  2. Register by clicking https://register.vevent.com/register/BIdb50bb18cbe144dba57e964fae5acbb6 and completing the online registration form.
  3. Once registered, you will receive the dial-in numbers and PIN number for input at the time of the call.

The live webcast will be archived and will be available for replay. Presentation slides that will accompany the conference call will also be posted on Aya’s website.

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, 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 “validate”, “confirm”, “potential”, “expect”, “continue”, “objective”, “expand”, ,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 in particular the nature of the deposit as it hits the granite and the continuation of down-plunge extensions, the conversion of Inferred Mineral Resources into Measured and Indicated Mineral Resources and future opportunities for enhancing development at Zgounder including the possible expansion of the mineral resource at depth. 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, 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 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. 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 Drilling at Zgounder (core lengths)

HOLE ID From 
To Ag 
(g/t) 
Length 
(m)* 
Ag x width 
Underground DDH
ZG-SF-23-076288.0291.05943.01,782
ZG-SF-24-091204.0205.52001.5300
ZG-SF-24-091214.5216.01921.5288
ZG-SF-24-091246.0247.0821.082
ZG-SF-24-091251.5253.01521.5228
ZG-SF-24-096219.0220.01361.0136
ZG-SF-24-096264.0266.07802.01,560
ZG-SF-24-09772.078.51886.51,222
ZG-SF-24-09836.037.5761.5114
ZG-SF-24-098102.0102.51,0040.5502
ZG-SF-24-100109.0110.55761.5864
ZG-SF-24-100130.5133.53383.01,014
ZG-SF-24-10157.562.01864.5835
ZG-SF-24-10167.569.0931.5139
ZG-SF-24-102124.0127.05243.01,572
ZG-SF-24-107100.0105.51,4595.58,022
Including100.0102.53,0862.57,714
ZG-SF-24-107109.5111.04841.5726
ZG-SF-24-10867.770.71,2923.03,876
ZG-SF-24-11082.089.53757.52,816
Including86.587.52,1121.02,112
ZG-SF-24-11093.595.01,1081.51,662
ZG-SF-24-115164.0165.51,1771.51,766
ZG-SF-24-115190.0191.51841.5276
DZG-SF-24-01150.052.53982.5994
DZG-SF-24-01440.542.01041.5156
DZG-SF-24-01446.549.5983.0294
DZG-SF-24-01458.561.01312.5328
DZG-SF-24-0160.033.518033.56,018
Including28.531.56073.01,820
DZG-SF-24-01757.059.0982.0196
DZG-SF-24-01763.067.04424.01,769
Including63.064.59171.51,376
DZG-SF-24-0181.04.04913.01,472
DZG-SF-24-01810.521.590211.09,924
Including14.020.51,4536.59,442
DZG-SF-24-0190.04.02844.01,136
DZG-SF-24-01914.020.01276.0762
DZG-SF-24-0211.05.09534.03,810
Including2.03.52,2961.53,444
DZG-SF-24-02112.013.01681.0168
DZG-SF-24-02231.032.51001.5150
DZG-SF-24-02234.038.51164.5522
DZG-SF-24-02241.543.0841.5126
DZG-SF-24-02345.546.55281.0528
DZG-SF-24-02360.561.5881.088
DZG-SF-24-02436.037.51761.5264
DZG-SF-24-02448.049.5841.5126
DZG-SF-24-0256.07.51241.5186
DZG-SF-24-02528.532.51,5484.06,190
Including31.532.55,7941.05,794
DZG-SF-24-02541.547.5856.0507
DZG-SF-24-02622.524.01001.5150
DZG-SF-24-02716.517.51201.0120
DZG-SF-24-02732.535.5863.0258
DZG-SF-24-02747.549.02241.5336
DZG-SF-24-02837.038.5961.5144
DZG-SF-24-02928.537.51849.01,656
DZG-SF-24-03148.049.0961.096
DZG-SF-24-0330.03.02773.0832
DZG-SF-24-03314.516.0841.5126
DZG-SF-24-03319.022.01283.0384
DZG-SF-24-03414.515.51321.0132
DZG-SF-24-03483.084.01201.0120
DZG-SF-24-03761.067.06356.03,810
DZG-SF-24-03773.074.51281.5192
DZG-SF-24-0390.01.09081.0908
DZG-SF-24-0397.08.51481.5222
DZG-SF-24-03914.516.0841.5126
DZG-SF-24-03920.021.01441.0144
DZG-SF-24-03939.040.56441.5966
DZG-SF-24-04084.085.0921.092
DZG-SF-24-04089.090.51641.5246
DZG-SF-24-04179.080.02641.0264
Underground T28
TD28-24-1950-0320.04.89724.84,664
TD28-24-1950-03222.824.04731.2568
TD28-24-1975-0463.64.81541.2185
TD28-24-1975-0486.08.4912.4218
TD28-24-1975-04822.825.23492.4838
TD28-24-1975-0493.67.22363.6851
TD28-24-1975-04920.421.6931.2112
TD28-24-1975-05016.818.02051.2246
TD28-24-1975-07310.814.41,0083.63,629
TD28-24-1975-07513.215.66622.41,588
TD28-24-1975-07714.419.21784.8854
TD28-24-1975-08115.616.84301.2516
TD28-24-1975-0877.28.4871.2104
TD28-24-2000-0594.86.02691.2323
TD28-24-2000-0610.02.41062.4253
TD28-24-2000-06810.814.41433.6516
TD28-24-2000-06821.624.0982.4234
TD28-24-2000-0700.04.81544.8737
TD28-24-2075-1200.04.82244.81,073
TD28-24-2075-1220.09.61,4589.614,000
Including0.04.82,8044.813,458
TD28-24-2075-1230.04.82,0554.89,864
Including0.02.43,9242.49,418
TD28-24-2075-1240.02.42382.4570
TD28-24-2075-1251.22.4851.2102
TD28-24-2100-0996.08.42292.4548
TD28-24-2100-1100.02.43422.4820
Underground YAK
YAKD-24-1950-00528.833.63454.81,656
Including28.830.01,1401.21,368
YAKD-24-1950-00540.842.01461.2175
YAKD-24-1950-00627.631.21543.6553
YAKD-24-1950-00640.842.01041.2125
YAKD-24-1950-00744.446.82422.4581
YAKD-24-1950-00810.818.01527.21,096
YAKD-24-1950-01238.442.04073.61,464
YAKD-24-1950-01325.231.23656.02,192
YAKD-24-1950-01426.428.82592.4620
YAKD-24-1950-01434.845.641610.84,496
Including37.239.61,2122.42,909
YAKD-24-1950-01513.214.41101.2132
YAKD-24-1950-01528.849.246520.49,478
Including33.637.21,3933.65,014
YAKD-24-1950-02130.034.83374.81,618
YAKD-24-1950-02142.043.2801.296
YAKD-24-1950-02144.445.61371.2164
YAKD-24-1950-02216.818.0761.291
YAKD-24-1950-02220.421.6931.2112
YAKD-24-1950-02324.025.21421.2170
YAKD-24-1950-02427.632.42984.81,428

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/330f681c-6453-405c-a1cb-fe1b172f86a6