Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to announce new high-grade drill exploration results from its 2023 completed program of 76,000 meters at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the southern and northern portions of the Main Trend, which remains open in all directions.

Key Highlights¹

• Definition of new high-grade mineralization from the infill drilling program:
  • BOU-DD23-223 intersected 763 grams per tonne silver equivalent over 38.3 meters (1.53 g/t Au, 311 g/t Ag, 4.4% Zn, 1.8% Pb and 0.04% Cu), including 11.0m at 996 g/t AgEq
  • BOU-DD23-230 intersected 991 g/t AgEq over 17.6m (2.64 g/t Au, 247 g/t Ag, 7.7% Zn, 1.2% Pb and 0.3% Cu), including 3.7m at 1,662 g/t AgEq
  • BOU-DD23-248 intersected 1,136 g/t AgEq over 5.9m (5.94 g/t Au, 59 g/t Ag, 8.8% Zn, 1.0% Pb and 0.1% Cu)
  • BOU-DD23-220 intersected 575 g/t AgEq over 10.9m (1.77 g/t Au, 91 g/t Ag, 4.5% Zn, 1.7% Pb and 0.1% Cu), including 2.4m at 1,275 g/t AgEq
  • BOU-DD23-218 intersected 1,409 g/t AgEq over 4.2m (13.59 g/t Au, 115 g/t Ag, 0.1% Zn, 0.1% Pb and 0.1% Cu) and 978 g/t AgEq over 5.8m (9.21 g/t Au, 80 g/t Ag, 0.1% Zn, 0.1% Pb and 0.2% Cu)
  • BOU-DD23-251 intersected 531 g/t AgEq over 9.4m (2.66 g/t Au, 32 g/t Ag, 4.4% Zn, 0.2% Pb and 0.04% Cu), including 2.4m at 1,719 g/t AgEq

“Today’s high-grade drill results including BOU-DD23-223 in the south and BOU-DD23-218 in the north of the Main Trend confirm continuity and grade of the Main Trend at Boumadine,” said Benoit La Salle, President & CEO. “Infill drilling has decreased the spacings between drill holes to improve our confidence in grades and tonnages for the upcoming Q1-2024 mineral resource estimate, which will provide visibility on Boumadine’s potential for near-term value creation.”

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

2023 Exploration Results

For 2023, 197 diamond drill holes for 74,295m were completed at Boumadine (Figure 1 and Appendix 2) with the remaining meterage of the 76,000m were completed in the first week of January 2024. Infill drilling was conducted on strike along the Main Trend (South, Central, and North Zones) while exploration drilling also targeted the North-West, Tizi and North-East Zones.

The majority of results have been received for drill holes up to BOU-DD23-255 (Table 1, Figure 3, Figure 4, and Appendix 1).

Results received since November 2023 confirm the high grade of the southern infill sections of the Main Trend, notably with holes BOU-DD23-223 and BOU-DD23-230 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

Following completion of the 2023 drilling program, the Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.

The 2024 drill program is already underway, a portion of which will continue extending the strike-length of the Boumadine Main Trend but with a primary focus on exploring targets outside of the Main Trend. Final numbers will be announced later in Q1.

Fieldwork commenced on the new permits in 2024 with a hyperspectral survey, mapping and prospecting. High resolution airborne geophysics (magnetics and MobileMT) is expected to begin later in Q1.

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

Figure 2 – Longitudinal View of Boumadine Main Zone (CNW Group/Aya Gold & Silver Inc)

Figure 3 – Surface Plan of Central & North Zones with New 2023 DDH Results (CNW Group/Aya Gold & Silver Inc)

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