MONTREAL, Oct. 28, 2021 /CNW Telbec/ - Aya Gold & Silver Inc. (TSX: AYA)
("Aya" or the "Corporation") is pleased to announce the completion
of the detailed ground magnetic geophysical survey of its
Imiter bis property in the Kingdom of Morocco. A highly prospective project,
Imiter bis is located 150 kilometers from Ouarzazate and five kilometers from Managem's
Imiter Mine, which is an epithermal silver deposit.
The Corporation has also engaged a contractor to conduct an
airborne, terrain, magnetic and radiometric geophysical survey over
the Imiter bis, Boumadine and Zgounder Regional properties.
Highlights
- Magnetic geophysical ("MAG") survey covered 110-line kilometers
("km") at 50-meter ("m") x 5m spacing
across the central part of the Imiter bis property
-
- Focus on the five priority target areas previously identified
by the 2021 fieldwork program
- Results will produce a high-resolution dataset to further
refine drilling and generate new targets
- Two diamond drills have been mobilised as part of the scheduled
4,000m exploration program
- Three zones (Middle Zone, South Zone and Cu-rich Zone) will be
test drilled before year-end
- Preparing a heliborne versatile time domain electromagnetic
("VTEM™") terrain, magnetic and radiometric geophysical survey
totalling 9,446-line km over the Imiter bis, Boumadine and Zgounder
Regional properties
- Satellite mapping and spectral study on Imiter bis using
WorldView-3 data is near-complete
"We are focused on better defining the opportunity set within
our Moroccan properties through both ground and airborne studies
and have started by delineating the over four-kilometer potential
strike previously identified at surface on Imiter bis. We
expect the Imiter bis MAG data to produce many high-value
unexplored targets as well as a detailed footprint of the potential
strike areas that will allow us to mobilise with precision and
speed and enhance our drill exploration program," said Benoit La Salle, President & CEO.
Geophysical
Program
The MAG survey covered the central part of the Imiter bis
license with East-West oriented lines at 50m x 5m spacing
(see Figure 1) for a total of 110-line km. The objective of the
program is to provide high-resolution mapping of the geologic
features and major structural elements such as faults, fractures,
and some major geological contacts. The line spacing of
50m, combined with the tight station
spacing of 5m, will generate a finer
definition dataset compared to a traditional 100m x 25m MAG
ground survey. The survey was completed by "4 GEO", a Moroccan
geophysical service provider, and comprised a ground walking
magnetometer with GPS and a fixed base station.
Next Steps
Results from the MAG survey are expected next week. The targets
identified will be investigated for relationships with the
Corporation's grab and channel samples and are likely to both
refine our current targets as well as provide new areas of
interest.
A satellite mapping and high-resolution multi-spectral study is
well advanced, involving Aster imagery, Sentinel-2 imagery,
Copernicus elevation data, and the acquisition of WorldView-3
spectral data (8 SWIR bands) with a spatial resolution of
0.31m and a spectral resolution of
3.7m. Although the final
interpretation and deliverables have not yet been received, the
preliminary images (Figure 2) are very promising and highlight
important hydrothermal activity as well as major structural
features. The high correlation with our targets increases our
confidence in the current drilling program and will doubtless
define new areas of potential. All deliverables should be received
by mid-December 2021.
In addition, the Corporation has contracted Geotech Ltd. to
conduct a heliborne VTEM™ terrain, magnetic and radiometric
geophysical survey. The survey, which will cover an estimated
9,446-line total km, will include the Imiter bis (554-line km),
Boumadine (349-line km) and Zgounder Regional properties
(8,543-line km). Following receipt of government authorizations, we
expect to start the survey in December
2021. The VTEM™ survey will be flown at 100m spacing, which will help generate very
high-resolution geophysical maps of these three projects.
Two Geosond Maroc diamond drills arrived on site last week
(Figure 3). The drill campaign started on October 22, 2021 on two (Copper Zone and Middle
Zone) of the three zones with the aim of completing the
4,000m drill program.
The technical information contained in this press release has
been reviewed and approved by David
Lalonde, B. Sc, Head of Exploration, designated as a
Qualified Person under 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 operations,
governance, and financial growth plans.
For additional information, please visit Aya's website at
www.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 "potential",
"could", "opportunity", "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