Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to announce new high-grade drill exploration results at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the central and northern portions of the Main Trend, which remains open in all directions.

The Corporation has also added 4 permits to Boumadine, which now has a total surface footprint of 78 square kilometers.

Key Highlights¹

• Definition of new high-grade mineralization from the infill drilling program:
  • BOU-DD23-180 intersected 1,039 grams per tonne silver equivalent  over 23.5 meters (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu)
  • BOU-DD23-184 intersected 474 g/t AgEq over 30.1m (2.57 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu), including 3.2m at 1,339 g/t AgEq and 3.4m at 1,169 g/t AgEq
  • BOU-DD23-172 intersected 2,689 g/t AgEq over 3.7m (22.03 g/t Au, 531 g/t Ag, 1.3% Zn, 0.3% Pb and 0.2% Cu)
  • BOU-DD23-186 intersected 442 g/t AgEq over 16.6m (1.85 g/t Au, 150 g/t Ag, 1.9% Zn, 0.3% Pb and 0.1% Cu), including 2.7m at 1,088 g/t AgEq
  • BOU-DD23-176 intersected 202 g/t AgEq over 30.6m (1.42 g/t Au, 20 g/t Ag, 0.6% Zn, 0.3% Pb and 0.05% Cu)
  • BOU-DD23-178 intersected 613 g/t AgEq over 9.5m (2.70 g/t Au, 49 g/t Ag, 4.2% Zn, 1.8% Pb and 0.2% Cu), including 2.3m at 1,476 g/t AgEq
• Acquisition of two mining permits totaling 15.8 km² north-east and south-west of Boumadine.
• Acquisition of one mining and one exploration permit for a total of 20.0 km² west of Boumadine.

“The acquisition of new permits is core to our strategy of consolidating our land position, and the four permits provide additional upside potential in the vicinity of the Boumadine Main Trend,” said Benoit La Salle, President & CEO. “Today’s high-grade drilling results including BOU-DD23-180 and BOU-DD23-184 confirm both continuity of the Main Trend and its potential from surface and over a very wide area. Following the positive metallurgical test results, our team is now focused on completing the remaining 20% of the expanded drill program and delivering the Q1-2024 Boumadine resource estimate.”

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

2023 Exploration Results

To date, 159 diamond drill holes for a total of 61,312m have been completed at Boumadine in 2023 (Figure 2 and Appendix 2). Both infill and exploration drilling were conducted on strike along the Main Trend (South, Central, and North Zones).

Most results have been received for drill holes up to BOU-DD23-203 (Table 1, Figure 4, Figure 5, and Appendix 1).

Results received since September 2023 confirm the high grade of the north and central sections of the Main Trend, notably with holes BOU-DD23-180 and BOU-DD23-184 intersecting large, mineralized zones.

The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones.

Next Steps

The 76,000m drilling program is 80% complete and is expected to be completed at year-end 2023. The Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.

Fieldwork will commence on the new permits in 2024 and will combine a hyperspectral survey, ground geophysics, mapping and prospecting.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, 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 maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

Appendix 1 – Full Drill Results from Boumadine (core lengths) 

Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)

Figure 1: Location of New Boumadine Permits (CNW Group/Aya Gold & Silver Inc)

Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes (CNW Group/Aya Gold & Silver Inc)

Figure 3 – Longitudinal View of Boumadine Main Zone (CNW Group/Aya Gold & Silver Inc)

Figure 4 – Surface Plan of Central & North Zones with New 2023 DDH Results (CNW Group/Aya Gold & Silver Inc)