MONTREAL, March 1, 2022 /CNW/ - Aya Gold & Silver Inc. (TSX: AYA) ("Aya" or the "Corporation") is pleased to announce initial drill results and several discovery holes from its 2021 drill exploration program at its Imiter bis property in the Kingdom of Morocco. Imiter bis represents a highly prospective opportunity located 150 kilometers from Ouarzazate and five kilometers from Managem's Imiter Mine.

Key Highlights (all intersections are in core lengths)

  • New mineralization and many anomalous gold ("Au") and silver ("Ag") values have been discovered within the Middle and Northeast Zones within the 4 kilometer ("km") initial strike
    • IM-DD21-014 intercepted 1.81 gram per tonne ("g/t") Au over 2.20 meters ("m") (included in a wider anomalous zone of 8.5m at 0.9 g/t Au and 19.6 g/t Ag)
    • IM-DD21-013 intercepted 2.74 g/t  over 1m while IM-DD21-010 intercepted 2.24 g/t over 0.9m
  • 4,381m of drilling completed on four different targets, total of 33 diamond drill holes ("DDH")
  • Typical epithermal vein textures observed in the Middle Zone, South Zone and Northeast Zone.
  • Currently, two rigs are testing other exploration targets on the property

"We are very pleased with this early-stage discovery within the exploration permits identified at our Imiter bis property. This discovery supports our view that numerous opportunities exist within the permits to advance new targets and add new low-cost ounces to the Company's resources," said Benoit La Salle, President & CEO. "We expect the airborne geophysical data to further enhance the potential strike area within our Imiter bis property, allowing us to mobilise with precision and speed our drill exploration program in the coming months."

2021 Drilling Program

The 2021 drill exploration program at Imiter bis consisted of 33 DDH or a total of 4,381m (Figure 1 and Table 1) over 4 target areas (South Zone, Middle Zone, Northeast Zone and Central Zone). To date we have received the results of 26 DDH with 6 holes still pending and 1 DDH intercepting partial results (Table 2).

The geology and the preliminary results indicate the presence of a low to neutral sulphidation Au-Ag epithermal system. Crustiform banded and pseudo-colloform textures in quartz +/- carbonate veins are widely present both in the Middle Zone and the Northeast Zone. The vein system of the main 4km structure is located close to a major contact between granodiorite and a wide mafic dyke (Figure 3). The 2021 drill exploration program allowed us to confirm continuity at depth with increasing widths in the Middle Zone.

Preliminary results confirm the presence of both Au and Ag in the system. Hole IM-DD21-014 (Figure 2) in particular intercepted 1.8 g/t Au and 40.0 g/t Ag over 2.2m (part of a wider vein system intercepting 0.9 g/t Au and 19.6 g/t Ag over 8.8m). This intersection is located on the northern most section drilled in the Middle Zone. The next phase of drilling will focus on the north extension of the middle zone and in trying to locate the "boiling zone", which could hold richer mineralisation in both Au and Ag.

Figure 1 Surface Plan with DDH Completed in 2021 on Imiter bis (CNW Group/Aya Gold & Silver Inc)

Table 1 – Drillhole Coordinates of the 2021 Imiter Bis Exploration Program

DDH No.

Easting

Northing

Elevation

Azimut

Dip

Length

IM-DD21-001

238 115

3 466 639

1844

90

-70

406

IM-DD21-002

237 757

3 466 132

1770

100

-60

60

IM-DD21-003

237 724

3 466 137

1769

100

-50

105

IM-DD21-004

238 720

3 467 079

1860

310

-50

123

IM-DD21-005

237 703

3 466 142

1774

100

-50

120

IM-DD21-006

238 747

3 467 061

1867

310

-50

68

IM-DD21-007

237 690

3 465 932

1764

107

-50

127

IM-DD21-008

237 672

3 465 940

1763

107

-50

101

IM-DD21-009

238 667

3 467 004

1849

310

-50

90

IM-DD21-010

238 688

3 466 989

1853

310

-50

118

IM-DD21-011

237 658

3 465 945

1761

107

-50

152

IM-DD21-012

238 297

3 466 418

1813

110

-50

91

IM-DD21-013

238 705

3 466 977

1857

310

-50

148

IM-DD21-014

237 757

3 466 227

1775

100

-50

94

IM-DD21-015

238 253

3 466 437

1810

110

-50

176

IM-DD21-016

237 740

3 466 231

1778

99

-50

111

IM-DD21-017

238 072

3 466 640

1836

90

-50

401

IM-DD21-018

238 700

3 467 092

1861

310

-50

206

IM-DD21-019

238 250

3 466 439

1811

290

-50

140

IM-DD21-020

237 720

3 466 234

1781

99

-50

147

IM-DD21-021

238 166

3 466 461

1811

290

-50

193

IM-DD21-022

237 722

3 466 018

1777

103

-50

65

IM-DD21-023

237 660

3 466 045

1767

102

-50

158

IM-DD21-024

237 710

3 466 023

1766

102

-50

95

IM-DD21-025

237 510

3 465 359

1855

104

-50

77

IM-DD21-026

237 502

3 465 359

1852

104

-50

82

IM-DD21-027

237 464

3 465 024

1879

106

-50

76

IM-DD21-028

237 367

3 464 850

1864

106

-50

75

IM-DD21-029

237 478

3 465 358

1850

104

-50

105

IM-DD21-030

237 479

3 465 019

1882

106

-50

118

IM-DD21-031

237 493

3 465 017

1884

106

-50

136

IM-DD21-032

237 341

3 464 856

1855

106

-50

134

IM-DD21-033

237 366

3 464 863

1858

106

-50

85

 

Figure 2 Core-Photo of the IM DD21-014-mineralized interval (CNW Group/Aya Gold & Silver Inc)

Table 2 – Best Results of 2021 Imiter bis Drill Exploration Program

DDH No.

Area

From

To

Au ppm

Ag ppm

Length

IM-DD21-004

NE

22.50

23.50

1.66

1.0

1.00

IM-DD21-005

Middle

7.50

8.50

1.10

4.0

1.00

IM-DD21-008

Middle

57.50

58.50

1.10

16.0

1.00

IM-DD21-010

NE

64.60

65.50

2.24

12.0

0.90

IM-DD21-013

NE

19.00

20.00

2.74

1.0

1.00

IM-DD21-014

Middle

55.80

64.30

0.90

19.6

8.50

Including

55.80

58.00

1.81

40.0

2.20

IM-DD21-014

Middle

81.70

84.00

1.11

1.0

2.30

IM-DD21-016

Middle

87.50

88.70

1.20

12.0

1.20

IM-DD21-018

NE

20.70

23.00

1.07

10.0

2.30

IM-DD21-027

South

69.20

70.10

1.39

4.0

0.90

*True width remains undetermined at this stage; all values are uncut.

Figure 3 Section of Middle Zone with IM DD 21-014 (CNW Group/Aya Gold & Silver Inc)

Next Steps

Follow-up drilling on the northern extension of the Middle Zone as well as the untested targets (Northwest Zone, Dilatation Zone, Daoud Zone) will be carried in Q2 2022. Aya will evaluate the need for additional drilling on the South Zone once it receives more results. In addition, the airborne geophysical survey has started.

Technical Information

Aya Gold & Silver has implemented a quality control program to comply with the best practice 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 is focused on maximising shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

For additional information, please visit Aya's website at www.ayagoldsilver.com.

Annexes 1 – Complete Results

DDH No.

Area

From

To

Au ppm

Ag ppm

Length*

IM-DD21-001

Central

268.80

270.00

0.57

4.0

1.20

IM-DD21-002

Middle

4.00

5.00

0.30

12.0

1.00

IM-DD21-002

Middle

9.90

11.00

0.34

4.0

1.10

IM-DD21-002

Middle

20.60

21.50

0.42

24.0

0.90

IM-DD21-003

Middle

63.00

64.00

0.37

4.0

1.00

IM-DD21-003

Middle

78.00

80.90

0.44

24.6

2.90

IM-DD21-004

NE

22.50

23.50

1.66

1.0

1.00

IM-DD21-004

NE

117.50

118.50

0.34

1.0

1.00

IM-DD21-005

Middle

7.50

8.50

1.10

4.0

1.00

IM-DD21-005

Middle

74.00

75.10

0.40

1.0

1.10

IM-DD21-005

Middle

85.00

86.00

0.49

32.0

1.00

IM-DD21-005

Middle

102.00

105.70

0.44

14.8

3.70

IM-DD21-006

NE

44.00

45.00

0.38

1.0

1.00

IM-DD21-006

NE

70.00

71.00

0.39

4.0

1.00

IM-DD21-006

NE

77.00

78.00

0.88

12.0

1.00

IM-DD21-006

NE

122.50

123.70

0.49

8.0

1.20

IM-DD21-007

Middle

0.00

68.50

NSR

IM-DD21-008

Middle

57.50

61.50

0.60

12.0

4.00

Including

57.50

58.50

1.10

16.0

1.00

IM-DD21-009

NE

0.00

90.30

NSR

IM-DD21-010

NE

7.50

9.50

0.42

2.5

2.00

IM-DD21-010

NE

22.50

23.50

0.88

12.0

1.00

IM-DD21-010

NE

25.50

26.50

0.78

1.0

1.00

IM-DD21-010

NE

64.60

65.50

2.24

12.0

0.90

IM-DD21-011

Middle

23.50

24.50

0.47

4.0

1.00

IM-DD21-011

Middle

81.50

82.50

0.34

4.0

1.00

IM-DD21-011

Middle

104.80

105.80

0.35

1.0

1.00

IM-DD21-011

Middle

117.00

118.00

0.87

8.0

1.00

IM-DD21-012

Central

54.30

54.80

0.36

68.0

0.50

IM-DD21-013

NE

6.00

7.00

0.75

1.0

1.00

IM-DD21-013

NE

19.00

20.00

2.74

1.0

1.00

IM-DD21-013

NE

34.00

35.00

0.39

4.0

1.00

IM-DD21-014

Middle

21.70

22.70

0.47

1.0

1.00

IM-DD21-014

Middle

31.20

32.20

0.33

1.0

1.00

IM-DD21-014

Middle

55.80

64.30

0.90

19.6

8.50

Including

55.80

60.00

1.27

23.8

4.20

IM-DD21-014

Middle

76.70

77.70

0.62

1.0

1.00

IM-DD21-014

Middle

79.70

80.70

0.46

1.0

1.00

IM-DD21-014

Middle

81.70

84.00

1.11

1.0

2.30

IM-DD21-015

Central

0.00

176.60

NSR

IM-DD21-016

Middle

62.00

63.20

0.33

1.0

1.20

IM-DD21-016

Middle

79.10

79.60

0.69

4.0

0.50

IM-DD21-016

Middle

87.50

88.70

1.20

12.0

1.20

IM-DD21-017

Central

31.80

32.50

0.79

1.0

0.70

IM-DD21-017

Central

300.90

301.60

0.42

4.0

0.70

IM-DD21-017

Central

323.70

324.70

0.61

1.0

1.00

IM-DD21-017

Central

334.00

334.60

0.82

8.0

0.60

IM-DD21-017

Central

352.00

353.00

0.77

28.0

1.00

IM-DD21-018

NE

20.70

23.00

1.07

10.0

2.30

IM-DD21-018

NE

19.60

23.00

0.84

7.9

3.40

IM-DD21-018

NE

35.40

36.40

0.31

1.0

1.00

IM-DD21-018

NE

150.00

151.00

0.31

1.0

1.00

IM-DD21-019

Central

37.50

38.70

0.41

1.0

1.20

IM-DD21-019

Central

72.30

73.80

0.64

4.0

1.50

IM-DD21-020

Middle

0.00

147.10

Partial

IM-DD21-020

Middle

129.20

131.10

0.62

2.0

1.90

IM-DD21-021

Central

46.00

47.00

0.46

4.0

1.00

IM-DD21-022

Middle

0.00

63.20

NSR

IM-DD21-023

Middle

54.50

55.50

0.35

1.0

1.00

IM-DD21-023

Middle

75.10

75.40

0.34

8.0

0.30

IM-DD21-023

Middle

96.00

97.00

0.31

1.0

1.00

IM-DD21-023

Middle

141.30

142.00

0.30

1.0

0.70

IM-DD21-024

Middle

65.80

66.80

0.30

12.5

1.00

IM-DD21-025

South

0.00

76.50

NSR

IM-DD21-026

South

62.40

63.20

0.78

1.0

0.80

IM-DD21-027

South

25.20

28.10

0.46

1.0

2.90

IM-DD21-027

South

69.20

70.10

1.39

4.0

0.90

IM-DD21-028

South

0.00

74.50

Pending

IM-DD21-029

South

0.00

105.00

Pending

IM-DD21-030

South

0.00

118.00

Pending

IM-DD21-031

South

0.00

136.00

Pending

IM-DD21-032

South

0.00

134.40

Pending

IM-DD21-033

South

0.00

85.00

Pending

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 "potential", "could", "opportunity", "target", "support", "suggest", "expected", "probably", 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 and the conversion of Inferred Mineral Resources into Measured and Indicated Mineral Resources, future opportunities for enhancing development at Zgounder, and timing for the release of the Company's disclosure in connection with the foregoing. 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 closing and timing of financing, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, 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 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 2020 Annual Information Form dated March 31, 2021, 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.

SOURCE Aya Gold & Silver Inc

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