MONTREAL, Quebec, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to report additional high-grade silver drill results from its at-depth drill exploration program at the Zgounder Silver Mine in the Kingdom of Morocco.

Highlights (all intersections are in core lengths)

  • In the Central Zone from the 1,950m level:
 
  • hole DZG-SF-24-081 intercepted 1,339 grams per tonne (“g/t”) silver (“Ag”) over 9.5 meters (“m”), including 2,984 g/t Ag over 4.0m
  • hole DZG-SF-24-089 intercepted 2,522 g/t Ag over 3.0m, including 7,052 g/t Ag over 1.0m
  • hole DZG-SF-24-134 intercepted 448 g/t Ag over 10.5m
 
  • In the Western Zone from the 2,000m level:

 
  • hole ZG-SF-24-141 intercepted 626 g/t Ag over 6.0m
  • hole  ZG-SF-24-163 intercepted 536 g/t Ag over 7.0m
 
  • In the Eastern Zone from the 2,000m level:
 
  • hole DZG-SF-24-111 intercepted 2,372 g/t Ag over 6.5m; and 1,042 g/t Ag over 4.5m
  • hole DZG-SF-24-098 intercepted 1,244 g/t Ag over 4.0m, including 2,242 g/t Ag over 2.0m
  • hole DZG-SF-24-108 intercepted 747 g/t Ag over 6.0m
 
  • Exploration holes near the granite contact:
 
  • hole ZG-SF-24-183 intercepted 376 g/t Ag over 9.3m
  • hole hole DZG-SF-24-164 intercepted 657 g/t Ag over 10.5m, including 1,037 g/t Ag over 4.5m
 
  • 21,190m of the 2024 exploration program drilled year to date
   

“Today’s high-grade drill results including hole DZG-SF-24-111continue to confirm high-grade continuity of silver mineralization at Zgounder,” said Benoit La Salle, President & CEO. “In addition, the silver-rich intercepts in the western and eastern extremities continue to increase the resource expansion potential. We currently have four underground rigs turning that will deliver additional results in the coming months.”

Included in this release are results for 217 holes, which include 80 underground DDH, 104 T28 and 33 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

FromToAgLength (m)*Ag x width
  (g/t)  
Underground DDH
ZG-SF-24-141129.5135.56266.03,756
ZG-SF-24-163116.0123.05367.03,750
ZG-SF-24-164136.0146.565710.56,894
Including142.0146.51,0374.54,668
ZG-SF-24-18387.296.53769.33,500
DZG-SF-24-08135.545.01,3399.512,722
Including35.539.52,9844.011,934
DZG-SF-24-089126.5129.52,5223.07,567
Including128.0129.07,0521.07,052
DZG-SF-24-09831.035.01,2444.04,976
Including31.033.02,2422.04,484
DZG-SF-24-10320.028.03778.03,014
DZG-SF-24-105107.0108.52,4851.53,728
DZG-SF-24-10710.516.05755.53,164
DZG-SF-24-10830.036.07476.04,482
DZG-SF-24-1114.511.02,3726.515,420
Including7.09.55,6742.514,184
DZG-SF-24-11120.024.51,0424.54,690
DZG-SF-24-1134.511.55837.04,078
DZG-SF-24-13434.044.544810.54,700
Underground T28
TD28-24-1975-26618.025.26057.24,354
TD28-24-1975-29421.626.49094.84,363
Including22.825.21,7022.44,085
Underground YAK
YAKD-24-1950-0761.26.06974.83346
YAKD-24-1950-0799.612.01,4802.43552
YAKD-24-1950-08312.040.867428.819,402
Including18.021.61,3203.64,752
Including27.631.21,2413.64,469
YAKD-24-1950-08525.244.421219.24,066

     1 Holes were drilled at various angles; true widths are unknown at this time.
     2 All assay results are above the cut-off grade of 75 g/t Ag

Figure 1: Location of Drill Results at Zgounder

Figure 1

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, Vice-President Exploration, 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, 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 “planned”, “in-line”, “on-track”, “deliver”, “to plan”, “expected”, “meaningful”, “yield” ,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 advancement of the commissioning work according to Aya’s plan. 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 increase the resource at Zgounder, the ability of these results to translate into an increase of resource, 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 IDFromToAgLength (m)*Ag x width
   (g/t)  
Underground DDH
ZG-SF-24-123235.0236.5881.5132
ZG-SF-24-141129.5135.56266.03,756
ZG-SF-24-144182.5183.59441.0944
ZG-SF-24-144196.5197.51281.0128
ZG-SF-24-15018.520.0881.5132
ZG-SF-24-15255.057.01222.0244
ZG-SF-24-15484.085.01041.0104
ZG-SF-24-15491.094.03493.01,046
ZG-SF-24-1551.56.01674.5750
ZG-SF-24-15559.063.51354.5606
ZG-SF-24-156143.0145.02212.0442
ZG-SF-24-15966.067.5841.5126
ZG-SF-24-160149.0150.01,8561.01,856
ZG-SF-24-160153.0154.01,0401.01,040
ZG-SF-24-160160.0167.04197.02,934
Including164.0166.09152.01,830
ZG-SF-24-161113.0113.51080.554
ZG-SF-24-161114.5116.01001.5150
ZG-SF-24-163116.0123.05367.03,750
ZG-SF-24-16448.049.5841.5126
ZG-SF-24-16497.0109.013012.01,558
ZG-SF-24-164136.0146.565710.56,894
Including142.0146.51,0374.54,668
ZG-SF-24-164157.0158.5961.5144
ZG-SF-24-18098.5107.01558.51,315
ZG-SF-24-18288.590.01121.5168
ZG-SF-24-18296.097.53761.5564
ZG-SF-24-18299.0101.41032.4247
ZG-SF-24-182107.4108.4881.088
ZG-SF-24-182108.9110.43561.5534
ZG-SF-24-18387.296.53769.33,500
Including87.288.51,9601.32,548
DZG-SF-24-07858.059.5921.5138
DZG-SF-24-08135.545.01,3399.512,722
Including35.539.52,9844.011,934
DZG-SF-24-0871.53.01,3561.52,034
DZG-SF-24-08727.028.58281.51,242
DZG-SF-24-08937.542.01024.5459
DZG-SF-24-089126.5129.52,5223.07,567
Including128.0129.07,0521.07,052
DZG-SF-24-0937.08.01921.0192
DZG-SF-24-097116.5122.01485.5814
DZG-SF-24-09831.035.01,2444.04,976
Including31.033.02,2422.04,484
DZG-SF-24-10120.021.5881.5132
DZG-SF-24-10320.022.52382.5596
DZG-SF-24-10320.028.03778.03,014
Including21.523.55542.01,108
DZG-SF-24-10527.028.5801.5120
DZG-SF-24-10598.099.51921.5288
DZG-SF-24-105102.5104.01241.5186
DZG-SF-24-105107.0108.52,4851.53,728
DZG-SF-24-10710.516.05755.53,164
DZG-SF-24-10830.036.07476.04,482
DZG-SF-24-1114.511.02,3726.515,420
Including7.09.55,6742.514,184
DZG-SF-24-11120.024.51,0424.54,690
DZG-SF-24-1134.511.55837.04,078
DZG-SF-24-1156.010.52244.51,008
DZG-SF-24-11718.019.51361.5204
DZG-SF-24-11830.032.07582.01,516
DZG-SF-24-12315.518.57913.02,372
Including15.517.51,0882.02,176
DZG-SF-24-12419.521.0761.5114
DZG-SF-24-12559.560.5771.077
DZG-SF-24-12561.562.5781.078
DZG-SF-24-12585.088.02413.0723
DZG-SF-24-12940.541.51761.0176
DZG-SF-24-12943.544.52241.0224
DZG-SF-24-12955.056.0961.096
DZG-SF-24-12957.057.52080.5104
DZG-SF-24-12961.573.010811.51,244
DZG-SF-24-12980.584.51734.0690
DZG-SF-24-12990.592.02641.5396
DZG-SF-24-12998.0102.51964.5884
DZG-SF-24-13253.067.019014.02,658
DZG-SF-24-13328.029.03161.0316
DZG-SF-24-13346.047.01001.0100
DZG-SF-24-13348.550.01081.5162
DZG-SF-24-13434.044.544810.54,700
Including43.044.51,2401.51,860
DZG-SF-24-13538.539.51441.0144
DZG-SF-24-13542.544.01681.5252
DZG-SF-24-13563.568.0894.5402
DZG-SF-24-13569.572.53543.01,062
DZG-SF-24-13613.515.01241.5186
DZG-SF-24-14815.018.01433.0429
DZG-SF-24-14832.534.01,5561.52,334
DZG-SF-24-14850.555.01764.5794
DZG-SF-24-1739.010.51041.5156
DZG-SF-24-17313.516.52693.0808
DZG-SF-24-17320.523.04342.51,084
DZG-SF-24-17337.540.53973.01,192
Underground T28
TD28-24-1975-21110.812.0921.2110
TD28-24-1975-21113.216.8883.6317
TD28-24-1975-2162.44.81312.4314
TD28-24-1975-22114.418.0923.6331
TD28-24-1975-2244.86.01001.2120
TD28-24-1975-22413.214.4921.2110
TD28-24-1975-22710.812.01,3281.21,594
TD28-24-1975-22713.214.4761.291
TD28-24-1975-2296.012.03856.02,309
Including6.07.21,4281.21,714
TD28-24-1975-22924.025.2761.291
TD28-24-1975-24115.616.81081.2130
TD28-24-1975-2421.22.4841.2101
TD28-24-1975-2439.610.81401.2168
TD28-24-1975-24312.013.2881.2106
TD28-24-1975-2440.04.81834.8878
TD28-24-1975-2449.610.81001.2120
TD28-24-1975-24413.214.4841.2101
TD28-24-1975-24419.221.6802.4192
TD28-24-1975-2453.64.81081.2130
TD28-24-1975-24513.214.4921.2110
TD28-24-1975-2464.812.01317.2943
TD28-24-1975-2501.22.41601.2192
TD28-24-1975-25220.421.6761.291
TD28-24-1975-2559.615.62836.01,699
TD28-24-1975-25619.224.0994.8475
TD28-24-1975-26112.013.21,0301.21,236
TD28-24-1975-26122.825.25742.41,378
TD28-24-1975-26315.618.01232.4295
TD28-24-1975-26320.424.0953.6341
TD28-24-1975-2643.614.414610.81,579
TD28-24-1975-2657.28.4841.2101
TD28-24-1975-26514.420.42196.01,315
TD28-24-1975-2668.49.62201.2264
TD28-24-1975-26618.025.26057.24,354
Including22.824.02,4001.22,880
TD28-24-1975-26716.818.0961.2115
TD28-24-1975-27020.421.6761.291
TD28-24-1975-2726.010.83674.81,759
TD28-24-1975-2906.07.2891.2107
TD28-24-1975-2923.67.21363.6488
TD28-24-1975-29212.015.63073.61,104
TD28-24-1975-29216.818.0841.2101
TD28-24-1975-2936.07.22601.2312
TD28-24-1975-2940.01.2921.2110
TD28-24-1975-29421.626.49094.84,363
Including22.825.21,7022.44,085
TD28-24-2050-29821.622.8841.2101
TD28-24-2050-2990.01.2961.2115
TD28-24-2050-2992.43.6861.2103
TD28-24-2050-29920.421.6761.291
TD28-24-2050-30016.822.81236.0739
TD28-24-2050-3040.01.21081.2130
TD28-24-2050-30613.220.41407.21,009
TD28-24-2050-31121.622.81001.2120
TD28-24-2050-31124.025.21481.2178
TD28-24-2050-3128.49.6961.2115
TD28-24-2050-31222.824.0801.296
TD28-24-2050-31320.426.44806.02,882
TD28-24-2050-3140.08.42478.42,074
TD28-24-2050-3173.66.0912.4218
TD28-24-2050-3183.67.21273.6456
Underground YAK
YAKD-24-1950-0670.08.4818.4682
YAKD-24-1950-06713.215.61642.4394
YAKD-24-1950-06746.850.42793.61,003
YAKD-24-1950-0680.010.827610.82,976
YAKD-24-1950-06846.848.03881.2466
YAKD-24-1950-0690.03.64563.61,642
YAKD-24-1950-0761.26.06974.83,346
YAKD-24-1950-0770.02.4982.4235
YAKD-24-1950-0792.43.6801.296
YAKD-24-1950-0799.612.01,4802.43,552
YAKD-24-1950-08312.040.867428.819,402
Including18.021.61,3203.64,752
Including27.631.21,2413.64,469
YAKD-24-1950-08415.619.22253.6811
YAKD-24-1950-08516.818.0761.291
YAKD-24-1950-08519.220.44121.2494
YAKD-24-1950-08525.244.421219.24,066
YAKD-24-2100-0502.46.02973.61,070
YAKD-24-2100-0516.07.2921.2110
YAKD-24-2100-05120.424.02363.6850
YAKD-24-2100-05550.451.67721.2926
YAKD-24-2100-05618.019.2761.291
YAKD-24-2100-05938.439.61081.2130
YAKD-24-2100-06010.816.82596.01,555
YAKD-24-2100-06536.037.21161.2139

  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/3244b10d-f936-4219-b0ed-484a89fd6dc3


Primary Logo

Figure 1

Location of Drill Results at Zgounder
Figure 1

Localisation des résultats de forage à Zgounder