Aya Gold & Silver Extends Main Zone to 5km and Adds 7 New Permits at Boumadine


MONTREAL, May 13, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results from its 2024 program of 120,000 meters (“m”) at Boumadine in the Kingdom of Morocco. Today’s results extend the main mineralized trend by 800m and continues to demonstrate continuity of the Boumadine Main Zone, which remains open in all directions. The Corporation also reports it has secured the right to 7 additional exploration permits, expanding the Boumadine exploration footprint to over 198 square kilometers (“km2”).

  • Key Highlights1
    • Extension of Boumadine strike length to 5 kilometers (“km”):
      • BOU-DD23-265 intersected 1,355 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 3.1 m (16.25 g/t gold (“Au”), 86 g/t silver (“Ag”), 0.1% zinc (“Zn”), 0.1% lead (“Pb”) and 0.1% copper (“Cu”) and 442 g/t AgEq over 8.0m (4.51 g/t Au, 58 g/t Ag, 0.3% Zn, 0.2% Pb and 0.2% Cu)
      • BOU-DD24-292 intersected 354 g/t AgEq over 2.9m (4.06 g/t Au, 27 g/t Ag, 0.4% Zn, 0.1% Pb and 0.03% Cu)
      • BOU-DD24-284 intersected 1,317 g/t AgEq over 1.9m (15.70 g/t Au, 91 g/t Ag, 0.05% Zn, 0.1% Pb and 0.2% Cu)
    • Extension of the Tizi strike length to 1.6km:
      • BOU-DD24-310 intersected 445 g/t AgEq over 13.7m (4.90 g/t Au, 42 g/t Ag, 0.3% Zn, 0.4% Pb and 0.1% Cu), including 1.6m at 1,988 g/t AgEq and 1.5m at 813 g/t AgEq
      • BOU-DD24-306 intersected 1,021 g/t AgEq over 3.0m (11.48 g/t Au, 89 g/t Ag, 0.8% Zn, 0.2% Pb and 0.2% Cu) including 1.5m at 1,755 g/t AgEq
    • New style of mineralization with very high silver grade:
      • BOU-DD24-310 intersected 7,820 g/t Ag over 1.0m
    • Secured 7 new exploration permits totaling 56.9 km² at Boumadine (Figure 1)

“Today’s high-grade drill results including BOU-DD23-265 in the north of the Main Trend extend the Boumadine footprint to 5km, and BOU-DD23-310 at Tizi confirms the potential to increase the resource,” said Benoit La Salle, President & CEO. “We are excited to expand our presence further at Boumadine through the strategic addition of 7 new permits, as part of our ongoing strategy to grow our land package and underscoring our confidence in the region's mineral potential. With an area of almost 200km2 in what we consider to be a generational asset and a potential district, we are in position to deliver value for all stakeholders.”

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

DDH No.SectionZoneFrom
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag Eq**
(g/t)
BOU-DD23-2547650NPara402.3403.79.41281.40.20.10.11772
BOU-DD23-2565400NMain149.8159.41.061349.60.00.21.34257
BOU-DD23-2565400NPara179.3186.41.421367.10.01.92.36363
BOU-DD23-2658850NPara314.0323.03.91249.00.00.20.20338
Including314.0318.86.76364.80.10.10.20569
BOU-DD23-2658850NMain338.0341.116.25863.10.10.10.101,355
BOU-DD23-2658850NPara366.0374.04.51588.00.20.20.30442
Including369.7372.312.171602.60.70.30.501,186
BOU-DD24-2849950NImarriren439.7441.615.70911.90.20.10.0541,317
BOU-DD24-2889950NPara459.7461.62.19811.90.10.12.92344
BOU-DD24-2899950NMain497.0500.33.71443.30.00.10.11336
Including497.0499.74.37492.70.00.10.11393
BOU-DD24-2929950NMain679.4682.34.06272.90.030.10.43354
BOU-DD24-29510150NPara325.0330.31.59495.30.10.50.62210
BOU-DD24-2963477900NTizi154.0158.22.79504.20.10.10.37289
BOU-DD24-29810150NPara370.0373.01.85373.00.10.61.55245
BOU-DD24-30210150NMain572.6573.93.651121.30.20.12.34478
BOU-DD24-3063478100NTizi314.1317.111.48893.00.20.20.831,021
Including314.1315.620.051331.50.40.21.421,755
BOU-DD24-3083477500NTizi102.6104.32.64621.70.40.91.316369
BOU-DD24-3103477500NTizi58.071.74.904213.70.10.40.39445
Including58.059.623.341481.60.20.40.5171,988
Including70.271.79.47621.50.10.20.14813
BOU-DD24-3103477500NE-W Vein281.4282.40.087,8201.00.25.51.578,036

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

** Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%, a gold price of US$1,900/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting on the following ratios: 1g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; 1% Zn: 28.1 g/t Ag.

Figure 1 – Location of New Boumadine Permits

Figure 1

Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2024 Drill Holes

Figure 2

2024 Exploration Results

This year, 60 diamond drill holes (“DDH”) for 27,122m have been completed at Boumadine (Figure 2 and Appendix 2). Drilling was conducted on strike along the Main Trend (North Zones), Tizi and North-West Zones. The majority of results have been received for drill holes up to BOU-DD23-310 (Table 1, Figure 4, and Appendix 1).

Results received since January 2024 including hole BOU-DD24-292 confirm the high-grade continuity of the Main Trend and extend the mineralized strike length to 5km. The Main Trend remains open in all directions. Today’s results also significantly extend the strike length of the Tizi Zone from 600m to 1.6km. The Tizi Zone also remains open in all directions.

Hole BOU-DD24-310 returned high-grade silver results including 7,820 g/t Ag over 1.0m in a small East-West structure. This new structure is a brecciated carbonate-quartz-galena vein with low temperature texture (blades, crustiform and colloform). Because the drilling was planned for Tizi, the East-West structure was intersected at a very low core-angle. True thickness is still unknown but is probably less than 0.2m. This type of vein will be better targeted with a specific “East-West” drill program.

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. Tizi and Imarriren share the same characteristics except for their N000 orientation. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit.

Figure 3 – Longitudinal View of Boumadine Main Zone

FIgure 3

Figure 4 – Surface Plan of North & Tizi Zones with New 2024 DDH Results

Figure 4

Next Steps

Significant upside potential exists to expand the Boumadine Main Trend, which currently extends 5.0km and remains open in all directions. Currently, the Corporation has mobilized seven drill rigs to complete the 120,000m drilling program. Half of the program will test the continuation of the known trend and infill. The remaining 50% will focus on geological targets generated by 2023 work and will be informed by the ongoing hyperspectral and high-resolution geophysical surveys. Hyperspectral and the geophysical surveys began in early 2024 and results are expected in late Q2-2024. The results from ongoing geology work will determine additional development work.

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.

For additional information, please visit Aya’s website at www.ayagoldsilver.com or contact:

Benoit La Salle, FCPA, MBA
President & CEO
benoit.lasalle@ayagoldsilver.com
Alex Ball
VP, Corporate Development & IR
alex.ball@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 “confirm”, “remains”, “confidence”, “potential”, “complete”, “expect” “extend”, “expand”, “belief”, 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 Boumadine and the advancement of and success of the exploration program at Boumadine , 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 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 2023 Annual Information Form dated March 28, 2024, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. 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.

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

DDH No.SectionZoneFrom
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag Eq**
(g/t)
BOU-DD23-2537650NPara489.8495.70.66255.90.00.20.5299
BOU-DD23-2547650NPara402.3403.79.41281.40.20.10.11772
BOU-DD23-2547650NPara407.5408.53.6311.00.00.10.61301
BOU-DD23-2555800NNSR0.0211.70.000211.70.00.00.000
BOU-DD23-2565400NMain149.8159.41.061349.60.00.21.34257
BOU-DD23-2565400NPara179.3186.41.421367.10.01.92.36363
BOU-DD23-2565400NPara253.8254.80.22241.00.00.10.2148
BOU-DD23-2565400NPara278.6279.20.15320.60.01.73.013175
BOU-DD23-2565400NPara337.0337.50.33280.50.00.40.48879
BOU-DD23-2573476025NNSR0.0211.00.000211.00.00.00.000
BOU-DD23-2583476025NTizi184.1185.10.4641.00.00.00.0241
BOU-DD23-2583476025NTizi208.2209.81.29261.60.00.00.03128
BOU-DD23-2583476025NTizi220.3221.00.4640.70.00.00.01343
BOU-DD23-259NE 286.3287.30.23561.00.00.30.0083
BOU-DD23-260NW2NSR0.0204.20.000204.20.00.00.000
BOU-DD23-2613476025NNSR0.0150.50.000150.50.00.00.000
BOU-DD23-262NW2NSR0.0366.20.000366.20.00.00.000
BOU-DD23-263NENSR0.0427.10.000427.10.00.00.000
BOU-DD23-264NENSR0.0564.10.000564.10.00.00.000
BOU-DD23-2658850NPara300.0301.00.4381.00.00.70.8084
BOU-DD23-2658850NPara310.0312.00.5982.00.00.50.2075
BOU-DD23-2658850NPara314.0323.03.91249.00.00.20.20338
Including314.0318.86.76364.80.10.10.20569
BOU-DD23-2658850NPara324.0325.00.57121.00.00.10.1062
BOU-DD23-2658850NPara326.0327.00.43121.00.00.10.5062
BOU-DD23-2658850NPara327.5329.01.93161.50.00.50.60198
BOU-DD23-2658850NMain338.0341.116.25863.10.10.10.101,355
BOU-DD23-2658850NPara350.8351.44.43280.60.10.10.70397
BOU-DD23-2658850NPara366.0374.04.51588.00.20.20.30442
Including369.7372.312.171602.60.70.30.501,186
BOU-DD23-2658850NPara412.0413.00.51121.00.00.20.4070
BOU-DD23-2663476025NNSR0.0162.00.000162.00.00.00.000
BOU-DD23-267NW3NSR0.0219.70.000219.70.00.00.000
BOU-DD23-2683476025NNSR0.0159.30.000159.30.00.00.000
BOU-DD23-2693476025NTizi144.1145.00.33120.90.00.00.0339
BOU-DD23-2693476025NTizi145.9146.90.34121.00.00.00.01140
BOU-DD23-2693476025NTizi155.9157.30.29201.40.00.00.0444
BOU-DD23-2709150NPara400.6401.40.49160.80.20.10.1175
BOU-DD23-2709150NPara470.6473.60.45173.00.00.30.7280
BOU-DD23-2709150NPara490.1491.11.1311.00.00.10.31100
BOU-DD23-2709150NMain503.8504.62.12200.80.10.10.21199
BOU-DD23-2709150NPara506.6507.60.60121.00.00.10.1566
BOU-DD23-2709150NPara577.7578.71.44121.00.00.10.12127
BOU-DD23-2709150NPara589.9590.70.4740.80.10.00.1149
BOU-DD23-2709150NPara593.4593.90.58120.50.00.10.1364
BOU-DD23-2709150NPara662.8663.40.44240.60.00.40.4180
BOU-DD23-271NW2NSR0.0498.20.000498.20.00.00.000
BOU-DD23-2723477750NTizi63.565.70.94172.20.00.10.31102
BOU-DD23-2723477750NTizi86.789.00.42262.30.01.51.91153
BOU-DD23-2739150NPara52.555.50.55123.00.00.10.1460
BOU-DD23-2749150NNSR0.0246.00.000246.00.00.00.000
BOU-DD23-275NW3NSR0.0307.30.000307.30.00.00.000
BOU-DD23-2763477750NTizi16.517.11.88160.60.00.10.05166
BOU-DD23-2763477750NTizi22.122.62.89430.50.00.20.22278
BOU-DD23-2763477750NTizi26.028.50.47322.50.01.00.83120
BOU-DD23-2763477750NTizi34.537.50.19443.00.00.81.26116
BOU-DD23-2763477750NTizi39.540.40.14430.90.01.42.03151
BOU-DD23-2763477750NTizi100.4101.11.55240.70.00.10.31157
BOU-DD23-2763477750NTizi150.5151.50.59161.00.00.30.9295
BOU-DD23-2763477750NTizi165.5166.12.21830.60.06.14.78554
BOU-DD23-2763477750NTizi167.1168.10.5081.00.00.30.7574
BOU-DD23-2773477750NTizi27.428.40.40281.00.00.51.43114
BOU-DD23-2773477750NTizi33.434.40.36201.00.00.10.5166
BOU-DD23-2773477750NTizi39.440.10.45360.70.01.01.13131
BOU-DD23-2773477750NTizi44.448.00.61123.60.00.20.6384
BOU-DD23-2773477750NTizi51.053.51.09222.50.00.00.13110
BOU-DD23-2773477750NTizi76.078.30.69152.30.00.00.0171
BOU-DD23-2773477750NTizi80.181.10.93161.00.00.11.14125
BOU-DD23-2773477750NTizi86.387.20.47160.90.00.10.8278
BOU-DD23-2773477750NTizi103.0104.00.38161.00.00.00.1251
BOU-DD23-2773477750NTizi104.7106.01.16121.30.00.00.12106
BOU-DD23-2773477750NTizi183.4184.40.35121.00.00.30.5163
BOU-DD23-2773477750NTizi186.4187.40.52241.00.00.30.6191
BOU-DD23-2789150NPara125.7126.70.7841.00.00.00.0166
BOU-DD23-2789150NPara276.8277.80.4541.00.00.00.0140
BOU-DD23-2793477750NTizi29.033.31.08184.30.00.21.32149
BOU-DD23-2793477750NTizi40.040.90.73120.90.00.40.4692
BOU-DD23-2793477750NTizi74.074.50.42600.50.01.95.48299
BOU-DD23-2793477750NTizi103.0104.30.53341.30.00.41.96141
BOU-DD23-2793477750NTizi112.8114.42.63461.60.00.10.17255
BOU-DD23-2793477750NTizi112.8117.01.62344.20.00.00.07164
BOU-DD23-2793477750NTizi126.0129.00.80383.00.00.20.28113
BOU-DD23-2793477750NTizi177.5178.51.31431.00.01.11.52219
BOU-DD23-2803477750NTizi66.166.61.19240.50.11.00.911172
BOU-DD23-2803477750NTizi68.469.01.56200.60.00.20.88169
BOU-DD23-2803477750NTizi155.3156.54.231011.20.10.20.14444
BOU-DD23-2803477750NTizi159.0160.32.33761.30.10.10.66282
BOU-DD23-2803477750NTizi170.5172.62.35412.10.10.10.16241
BOU-DD23-2803477750NTizi176.6177.60.64201.00.00.21.07105
BOU-DD23-281NW3NSR0.0449.80.000449.80.00.00.000
BOU-DD23-2823477750NTizi96.397.20.67160.90.10.60.612108
BOU-DD23-2823477750NTizi99.8100.50.36120.70.10.61.31799
BOU-DD23-2823477750NTizi148.0149.00.8641.00.00.30.3387
BOU-DD23-2823477750NTizi155.9156.80.9080.90.00.40.62104
BOU-DD23-2823477750NTizi180.0181.00.20321.00.02.04.23224
BOU-DD23-2823477750NTizi205.9206.44.52630.50.40.10.14457
BOU-DD23-2823477750NTizi208.0208.70.35600.70.10.94.41241
BOU-DD23-2823477750NTizi239.5240.50.4781.00.10.00.1953
BOU-DD23-2823477750NTizi250.8252.13.49501.30.10.10.52341
BOU-DD23-2823477750NTizi254.4254.91.00250.50.00.00.03106
BOU-DD23-2823477750NTizi257.1257.70.74160.60.10.00.0579
BOU-DD23-2823477750NTizi259.2262.01.56302.80.10.00.62174
BOU-DD23-2823477750NTizi390.6391.10.87160.50.00.80.08107
BOU-DD24-2839950NMain67.069.61.49182.60.00.32.416214
BOU-DD24-2839950NPara251.2252.60.22411.40.11.11.74147
BOU-DD24-2839950NPara259.1260.72.84291.60.10.00.72275
BOU-DD24-2839950NPara261.6262.50.3980.90.00.00.9567
BOU-DD24-2839950NImarriren284.8285.33.74200.50.00.51.83375
BOU-DD24-2849950NPara51.753.20.52161.50.01.00.521101
BOU-DD24-2849950NPara97.298.20.6281.00.00.20.81684
BOU-DD24-2849950NMain120.2121.21.49241.00.00.10.124146
BOU-DD24-2849950NPara285.3285.90.41230.60.00.72.26138
BOU-DD24-2849950NPara311.4317.80.91176.40.00.00.1295
BOU-DD24-2849950NImarriren439.7441.615.70911.90.20.10.041,317
BOU-DD24-2849950NPara455.4456.30.6080.90.00.10.3365
BOU-DD24-285NW1NSR0.0256.80.000256.80.00.00.000
BOU-DD24-286NW1NSR0.0342.50.000342.50.00.00.000
BOU-DD24-287NW1 514.5515.00.62260.50.10.10.16788
BOU-DD24-2889950NMain242.1245.30.52133.20.00.51.0395
BOU-DD24-2889950NPara457.8458.30.33280.50.10.10.1269
BOU-DD24-2889950NPara459.7461.62.19811.90.10.12.92344
BOU-DD24-2899950NPara107.8108.80.8581.00.00.00.0476
BOU-DD24-2899950NPara211.1212.10.5081.00.00.20.2258
BOU-DD24-2899950NMain497.0500.33.71443.30.00.10.11336
Including497.0499.74.37492.70.00.10.11393
BOU-DD24-2899950NPara501.2504.10.38242.90.00.00.1261
BOU-DD24-2899950NPara533.4533.90.31160.50.00.30.3558
BOU-DD24-290NW4NSR0.0300.10.000300.10.00.00.000
BOU-DD24-2919950NPara384.3384.90.44200.60.00.25.01202
BOU-DD24-2919950NPara571.8572.60.59200.80.10.00.1373
BOU-DD24-2919950NPara576.9577.41.13740.50.00.00.13165
BOU-DD24-2919950NPara580.3581.00.50120.70.00.00.1456
BOU-DD24-2919950NPara585.2586.60.32481.40.30.00.23103
BOU-DD24-2919950NMain605.4607.10.38391.70.00.10.1277
BOU-DD24-2929950NPara395.0396.01.2241.00.00.00.03102
BOU-DD24-2929950NPara415.0415.91.1410.90.00.00.0890
BOU-DD24-2929950NPara526.8527.30.88690.50.00.52.03208
BOU-DD24-2929950NPara645.4646.23.201900.80.10.40.311469
BOU-DD24-2929950NPara667.0668.00.28731.00.00.20.011102
BOU-DD24-2929950NMain679.4682.34.06272.90.00.10.43354
BOU-DD24-293NW4NSR0.0612.20.000612.20.00.00.000
BOU-DD24-294NW4NSR0.0425.90.000425.90.00.00.000
BOU-DD24-29510150NPara304.7305.50.41160.80.00.10.2460
BOU-DD24-29510150NMain307.6312.91.15285.30.10.20.66144
Including311.1312.42.39291.30.00.30.76244
BOU-DD24-29510150NPara325.0330.31.59495.30.10.50.62210
BOU-DD24-29510150NPara388.6390.03.15841.40.10.11.14371
BOU-DD24-2963477900NTizi57.958.40.62240.50.10.11.559124
BOU-DD24-2963477900NTizi63.464.00.5780.60.00.20.5673
BOU-DD24-2963477900NTizi154.0158.22.79504.20.10.10.37289
BOU-DD24-2973477900NTizi24.224.80.8940.60.00.50.711106
BOU-DD24-2973477900NTizi43.546.02.15112.50.00.50.59205
BOU-DD24-2973477900NTizi93.094.00.6841.00.00.90.74102
BOU-DD24-2973477900NTizi99.5100.02.20280.50.11.33.04326
BOU-DD24-2973477900NTizi115.7116.24.02640.50.12.26.31623
BOU-DD24-2973477900NTizi136.2136.90.50280.70.01.42.45175
BOU-DD24-2973477900NTizi211.8212.40.66200.60.00.10.1377
BOU-DD24-2973477900NTizi235.1235.72.76280.60.10.00.12250
BOU-DD24-29810150NPara306.0307.00.64281.00.00.41.04118
BOU-DD24-29810150NPara310.0311.00.033961.00.01.22.319497
BOU-DD24-29810150NPara370.0373.01.85373.00.10.61.55245
BOU-DD24-29810150NMain382.0386.31.08304.30.00.61.84183
Including385.3386.32.58761.00.11.96.25511
BOU-DD24-29810150NPara391.1391.90.5240.80.00.20.2657
BOU-DD24-29810150NPara402.6403.10.26400.50.01.35.31249
BOU-DD24-29810150NPara428.0429.43.14391.40.10.20.44301
BOU-DD24-29810150NPara437.1441.50.89764.40.10.10.85178
BOU-DD24-2993477900NTizi78.078.50.49240.50.10.51.54123
BOU-DD24-2993477900NTizi120.3120.91.00280.60.10.50.95152
BOU-DD24-2993477900NTizi194.2194.90.22330.70.01.12.81160
BOU-DD24-2993477900NTizi218.1220.91.20162.80.00.00.06112
BOU-DD24-2993477900NTizi301.7302.21.78320.50.10.00.05181
BOU-DD24-2993477900NTizi305.1306.00.6480.90.00.00.0960
BOU-DD24-2993477900NTizi306.5307.11.3580.60.20.00.13136
BOU-DD24-30010150NMain491.9493.60.96541.70.01.53.52271
BOU-DD24-30010150NPara501.7502.30.86250.60.00.10.41106
BOU-DD24-30010150NPara507.7508.41.72450.70.10.62.02254
BOU-DD24-3013478100NTizi114.4134.60.00220.20.00.00.004
BOU-DD24-3013478100NTizi145.3146.10.211000.80.21.65.410333
BOU-DD24-3013478100NTizi212.7214.10.33341.40.01.64.12221
BOU-DD24-3013478100NTizi219.8220.30.57160.50.00.00.1366
BOU-DD24-3013478100NTizi227.8228.81.2281.00.00.10.14107
BOU-DD24-30210150NPara509.4510.00.57320.60.12.02.39204
BOU-DD24-30210150NPara567.7568.20.30280.50.00.10.8379
BOU-DD24-30210150NMain572.6573.93.651121.30.20.12.34478
BOU-DD24-3033478100NTizi120.2121.20.5641.00.10.10.2162
BOU-DD24-3043478100NTizi238.7240.00.61281.30.00.41.53131
BOU-DD24-30510150NPara512.3512.90.41160.60.00.31.0284
BOU-DD24-30510150NPara532.8533.30.75120.50.00.21.64123
BOU-DD24-30510150NPara572.2572.80.6340.60.00.21.1691
BOU-DD24-30510150NPara588.3589.10.73410.80.10.10.23114
BOU-DD24-30510150NPara606.1606.60.33360.50.00.31.33109
BOU-DD24-3063478100NTizi314.1317.111.48893.00.20.20.831,021
Including314.1315.620.051331.50.40.21.421,755
BOU-DD24-3073477500NTizi13.214.00.66120.80.00.20.11171
BOU-DD24-3073477500NTizi108.8111.91.51423.10.10.10.89191
BOU-DD24-3083477500NTizi70.871.80.9481.00.00.10.21591
BOU-DD24-3083477500NTizi84.985.81.06160.90.00.10.26107
BOU-DD24-3083477500NTizi97.097.90.77120.90.00.10.21182
BOU-DD24-3083477500NTizi102.6104.32.64621.70.40.91.316369
BOU-DD24-3083477500NTizi165.8167.41.54611.60.10.20.94218
BOU-DD24-3083477500NTizi200.1200.62.81920.50.11.78.94611
BOU-DD24-3093477500NTizi16.017.01.72381.00.00.20.1241186
BOU-DD24-3093477500NTizi25.027.40.84482.40.01.62.06215
BOU-DD24-3093477500NTizi33.834.30.67320.50.01.42.314189
BOU-DD24-3093477500NTizi45.746.93.04351.20.00.30.610296
BOU-DD24-3093477500NTizi51.752.24.16320.50.00.20.23362
BOU-DD24-3093477500NTizi224.8225.40.34240.60.00.20.9481
BOU-DD24-3093477500NTizi230.5231.40.36320.90.00.51.09103
BOU-DD24-3093477500NTizi247.1247.60.32680.50.01.32.78207
BOU-DD24-3093477500NTizi248.8249.44.50480.60.11.03.27518
BOU-DD24-3093477500NTizi292.8293.50.63120.70.00.10.2471
BOU-DD24-3093477500NTizi297.5298.40.56200.90.00.50.85101
BOU-DD24-3103477500NTizi19.020.00.27281.00.00.20.0355
BOU-DD24-3103477500NTizi58.071.74.904213.70.10.40.39445
Including58.059.623.341481.60.20.40.5171,988
Including70.271.79.47621.50.10.20.14813
BOU-DD24-3103477500NTizi158.7159.40.76160.70.00.20.01081
BOU-DD24-3103477500NTizi161.0162.00.6781.00.00.10.11468
BOU-DD24-3103477500NTizi281.4282.40.087,8201.00.25.51.578,036
BOU-DD24-3119550NMain103.5110.60.62177.10.10.31.015105

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

** Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%; a gold price of US$1,900/oz with a process recovery of 85%; a zinc price of US$1.20/lb with a process recovery of 72%; a lead price of US$1.00/lb with a process recovery of 85%; and a copper price of US$4.00/lb with a process recovery of 75% resulting on the following ratios: 1 g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; and 1% Zn: 28.1 g/t Ag.

Appendix 2 – New Drillhole Coordinates of 2024 Boumadine Exploration Program (completed holes)

DDH No.EastingNorthingElevationAzimuthDipLength (m)
BOU-DD24-283315,9633,477,9601,270250-50401.2
BOU-DD24-284316,0293,477,9841,252250-50509.2
BOU-DD24-285314,6683,478,3911,244110-50256.8
BOU-DD24-286314,5963,478,4171,226110-50342.5
BOU-DD24-287314,5233,478,4441,221110-50579.4
BOU-DD24-288316,1653,478,0341,234250-50540.0
BOU-DD24-289316,2823,478,0761,234250-50578.9
BOU-DD24-290314,3743,477,4321,263290-50300.1
BOU-DD24-291316,3773,478,1111,258250-50693.0
BOU-DD24-292316,4493,478,1371,246250-50755.4
BOU-DD24-293314,5493,477,3681,283290-50612.2
BOU-DD24-294314,4513,477,4041,258290-50425.9
BOU-DD24-295316,1373,478,2351,233250-50444.3
BOU-DD24-296315,3673,477,9121,272270-50222.6
BOU-DD24-297315,4533,477,9121,273270-50335.5
BOU-DD24-298316,2233,478,2661,241250-50556.6
BOU-DD24-299315,5413,477,9121,273270-50421.7
BOU-DD24-300316,3113,478,2981,253250-50670.4
BOU-DD24-301315,3893,478,1111,280270-50267.0
BOU-DD24-302316,3903,478,3271,252250-50762.1
BOU-DD24-303315,4613,478,1111,267270-50347.9
BOU-DD24-304315,5343,478,1121,257270-50479.6
BOU-DD24-305316,4573,478,3511,234250-50888.1
BOU-DD24-306315,6233,478,1121,256270-50504.0
BOU-DD24-307315,3393,477,5111,284270-50251.7
BOU-DD24-308315,4163,477,5111,278270-50300.2
BOU-DD24-309315,5103,477,5111,286270-50450.4
BOU-DD24-310315,6063,477,5111,298270-50490.6
BOU-DD24-311316,3403,477,6711,233250-50432.0
BOU-DD24-312316,4083,477,6951,225250-50525.0
BOU-DD24-313316,0573,477,3981,251320-50206.9
BOU-DD24-314316,4843,477,7231,218250-50539.6
BOU-DD24-315316,1083,477,3381,245320-50330.9
BOU-DD24-316315,3023,477,3101,288270-50223.1
BOU-DD24-317315,3853,477,3101,283270-50373.1
BOU-DD24-318316,2933,476,6521,228140-50236.7
BOU-DD24-319316,2363,476,7201,230140-50360.0
BOU-DD24-320316,6303,477,7761,211250-50162.0
BOU-DD24-321315,4693,477,3111,285270-50501.0
BOU-DD24-322316,1833,476,7821,233140-50510.0
BOU-DD24-323316,7063,477,8041,208250-50582.4
BOU-DD24-324315,4683,476,9091,261270-50243.0
BOU-DD24-326316,0943,476,5761,245140-50273.1
BOU-DD24-327315,5613,476,9091,272270-50321.5
BOU-DD24-328316,0393,476,2611,232140-50230.4
BOU-DD24-329316,0363,476,6451,250140-50370.4
BOU-DD24-330316,2033,477,8351,228250-50252.0
BOU-DD24-331315,6233,477,3021,300320-50204.8
BOU-DD24-336315,3633,476,5121,283270-50210.7



1 All intersections are in core lengths. Ag equivalent is based on a silver price of US$21/oz with a process recovery of 89%, a gold price of US$1,900/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting on the following ratios: 1g/t Au: 76.9 g/t Ag; 1% Cu: 97.63 g/t Ag; 1% Pb: 27.7 g/t Ag; 1% Zn: 28.1 g/t Ag.

 

Figures accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/825ab78f-0e30-4e0d-852a-05140aa02936

https://www.globenewswire.com/NewsRoom/AttachmentNg/7977aa08-6eba-4853-9534-bbd472572221

https://www.globenewswire.com/NewsRoom/AttachmentNg/0350b31f-0cca-4e70-9639-4e99a91f232a

https://www.globenewswire.com/NewsRoom/AttachmentNg/67edf93a-308f-4710-9adc-576100ed5ab2