Aya confirms extension of high-grade silver discovery at Zgounder mine in Morocco

Zgounder silver mine. Credit: Aya Gold & Silver

Aya Gold & Silver (TSX: AYA) on Wednesday delivered additional drill exploration results from its flagship Zgounder mine in Morocco, confirming the extension of high-grade silver mineralization at depth.

The underground drilling was done at the central zone just below 2,000-metre level, extending the high-grade zone discovered recently at Zgounder. One drill hole intercepted 3,956 g/t silver over 21.6 metres, including an intersection of 5,792 g/t silver over 14.4 metres. Another hole intercepted 5,691 g/t silver over 9.6 metres, including 8,840 g/t silver over 6 metres.

The exploration program also included surface drilling at the bottom contact with the granite, with one drill hole intercepting 1,220 g/t silver over 6.5 metres and 5,132 g/t silver over 2.5 metres. Another hole intersected 2,074 g/t silver over 3.5 metres, confirming high-grade mineralization at (or near) the contact with the granite.

According to Benoit La Salle, Aya’s president and CEO, the surface drilling is part of the company’s exploration program aimed at extending the high-grade mineralization at depth towards the granite contact at Zgounder.

“We are very pleased with the overall continuity of the deposit, which continues to expand the known mineralization and deliver high-grade ounces,” he noted.

Also part of the release were results of diamond definition drilling, which included 708 g/t silver over 11 metres, 646 g/t silver over 11 metres and 423 g/t silver over 13.5 metres upward from the 2,030-metre level.

Aya is currently in the middle of a 7,500-metre drill exploration program designed to test five different targets highlighted by its prospecting campaign within the Zgounder region.

Shares of Aya Gold & Silver jumped 6.1% by 12:45 p.m. ET following the latest drilling results. The precious metals miner has a market capitalization of C$979.3 million ($720m).