Categories
Base Metals Energy Junior Mining

Visualizing All the Nuclear Waste in the World

Visualizing All the Nuclear Waste in the World

Originally posted on the Decarbonization Channel. Subscribe to the free mailing list to be the first to receive decarbonization-related visualizations, with a focus on the U.S. power sector.

Nuclear power is among the safest and cleanest sources of electricity, making it a critical part of the clean energy transition.

However, nuclear waste, an inevitable byproduct, is often misunderstood.

In collaboration with the National Public Utilities Council, this graphic shows the volume of all existing nuclear waste, categorized by its level of hazardousness and disposal requirements, based on data from the International Atomic Energy Agency (IAEA).

Storage and Disposal

Nuclear provides about 10% of global electricity generation.

Nuclear waste, produced as a result of this, can be divided into four different types:

  • Very low-level waste: Waste suitable for near-surface landfills, requiring lower containment and isolation.
  • Low-level waste: Waste needing robust containment for up to a few hundred years, suitable for disposal in engineered near-surface facilities.
  • Intermediate-level waste: Waste that requires a greater degree of containment and isolation than that provided by near-surface disposal.
  • High-level waste: Waste is disposed of in deep, stable geological formations, typically several hundred meters below the surface.

Despite safety concerns, high-level radioactive waste constitutes less than 0.25% of total radioactive waste reported to the IAEA.

Waste ClassDisposed (cubic meters)Stored (cubic meters)Total (cubic meters)
Very low-level waste758,802313,8821,072,684
Low-level waste1,825,558204,8582,030,416
Intermediate level waste671,097201,893872,990
High-level waste3,9605,3239,283

Stored and disposed radioactive waste reported to the IAEA under the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management. Data is from the last reporting year which varies by reporting country, 2019-2023.

The amount of waste produced by the nuclear power industry is small compared to other industrial activities.

While flammable liquids comprise 82% of the hazardous materials shipped annually in the U.S., radioactive waste accounts for only 0.01%.

Original Source: https://elements.visualcapitalist.com/visualizing-all-the-nuclear-waste-in-the-world/

Categories
Exclusive Interviews Gold Company Junior Mining Precious Metals

Uncovering the Potential: Gold 79 Mines’ Gold Project in Arizona

Gold79 believes that the Tyro Main Zone has the potential for 15.6 to 31.2 Mt grading 1.5 to 2.5 g/t Au. This is based on previous exploration on the property, including 685.7 metres of drilling along with surface sampling (95 samples), sampling of historical underground workings (56 samples) and detailed mapping.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com

Book a 30-minute meeting with our CEO here.

Stay Connected with Us:
Twitter: @Gold79Mines
Facebook: https://www.facebook.com/Gold79Mines
LinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/

Gold79 Mines | Ticker: TSX.V: AUU

Categories
Base Metals Energy Precious Metals Silver Bullet Mines

Silver Bullet Receives MSHA Approval

Burlington, Ontario–(Newsfile Corp. – January 23, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce as part of its ongoing transformation to a silver producing company, it has submitted and received approval for its mine training program from the Mine Safety and Health Association (“MSHA”), part of the United States Department of Labor. This MSHA approval covers the training program for both SBMI’s underground and surface operations. The approval process included three onsite inspections by MSHA and the completion by SBMI of a detailed safety operations program.

The field team in Arizona is currently attending the annual training program which will be completed this week, following which the field team intends to address any outstanding safety-related items, develop the silver higher-grade Zone1, and commence commercial operations.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195306

Categories
Junior Mining Precious Metals

Government Employee Pensions Are Underfunded. Taxpayers Will Make Up the Difference

01/20/2024Doug French

People aren’t messing with their 401(k)s enough, according to the The Wall Street Journal. It used to be “Set it and forget it.” Now, according to the Wall Street Journal’s Jon Sindreu, if you forget it, you might miss it.

Inspired by a BlackRock thought experiment which included perfect knowledge, Sindreu looked backward between 2020 and the present at a person making yearly changes (moving funds to the previous year’s strongest sector) which would have generated a compound annual return of 55 percent, nearly four times more than buying and holding the Standard and Poor’s 500 (or setting and forgetting). For the period of 2016 through 2019, the gain would have been 30 percent, twice the index.

Basing a new strategy on back-of-the-envelope testing back just seven years seems dubious. It also requires discipline and market knowledge that the vast majority of 401(k) investors just don’t have. Most people with 401(k)s just plain have no interest in, let alone knowledge of, financial markets.

At least one company understands that its employees are not cut out to be investors. IBM, starting this year, will “provide a defined benefit plan that will save for an employee’s retirement automatically, with no contribution required from the employee. The result will be a stable and predictable benefit that professionally invests every retirement saving dollar to maximize risk-adjusted rates of return,” summarizes Teresa Ghilarducci in an article for Forbes.

Ghilarducci makes the point that small businesses may go back to defined benefit plans because “the permitted tax-qualified contributions are larger in [defined benefit] than [defined contribution].”

IBM dropped their pension plan fifteen years ago and went to a 401(k) plan. The United Auto Workers did the same, as did many other large and small companies. These moves shifted “the risk of mistakes onto the employees.”

IBM has now declared its 401(k) plan a failure, as has the Mercer/CFA Institute Global Pension Index, which flunks the US model for not “providing enough accumulation, stable investment, and reliable lifetime benefits.”

Ghilarducci says 401(k) participants are stuck with investment options that are high-priced and inefficient. Plus, what happens when that lump sum of accumulated wealth is staring a retiree in the face? Some take distributions slowly and carefully and likely will live below their means and pass what remains to their heirs. Others, however, will buy expensive toys, what Ghilarducci calls the “red truck syndrome—a term coined when newly retired workers with lumps [buy] something they have always wanted—a shiny new truck.”

Defined benefit plans are A-OK if fully funded, but many government employee defined benefit plans are not. In fact, an academic study finds there are incentives for government defined benefit plans to be underfunded. Not to give away the punchline, but government employee pensioners know it’s the law for them to be paid their pension, and the government will force taxpayers to cover any shortfall.

Sarah Anzia and Terry Moe explain the logic behind underfunded government pensions in Perspectives on Politics:

Another basic feature of pension politics is that public workers and their unions have incentives to support the chronic underfunding of their own pensions. Due to state statutes, constitutions, and judicial decisions, pensions promised by state politicians are backed by strong legal protections almost everywhere; and public workers thus know they will eventually get what they are promised even if their pension plans are currently underfunded. Indeed, because full funding on a regular schedule would be tremendously costly for state (and local) budgets—crowding out other services, forcing higher taxes, making the true costs of pensions painfully transparent to citizens—public workers and their unions have incentives to prefer that their pension plans be underfunded. Underfunding enables the fiscal illusion that pension benefits are much less expensive than they really are. If public workers and their unions want increasingly generous benefits in future years, they need to convince the public that these benefits are not costly to provide. At the same time, underfunding keeps employee contributions to their own pension funds at low levels; and by keeping contributions by their employers down, they are freeing up public money for other government services, keeping public workers employed—and providing funds for their own salaries and raises.

Employees in the private sector must spend time researching investment options and hope their investment selections and market timing are right. Meanwhile, government employees can relax and count on taxpayers to make their golden years stress free.

Author:

Doug French

Douglas French is President Emeritus of the Mises Institute, author of Early Speculative Bubbles & Increases in the Money Supply, and author of Walk Away: The Rise and Fall of the Home-Ownership Myth. He received his master’s degree in economics from UNLV, studying under both Professor Murray Rothbard and Professor Hans-Hermann Hoppe. His website is DouglasInVegas.com.

Categories
Junior Mining Precious Metals

Gold79 Defines an Exploration Target for the Tyro Main Zone at the Gold Chain Project

Ottawa, Ontario–(Newsfile Corp. – January 22, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce that it has defined an exploration target at the Tyro Main Zone, the first potential resource area, on the Gold Chain Project in Arizona (the “Exploration Target”).

Gold79 believes that the Tyro Main Zone has the potential for 15.6 to 31.2 Mt grading 1.5 to 2.5 g/t Au. This is based on previous exploration on the property, including 685.7 metres of drilling along with surface sampling (95 samples), sampling of historical underground workings (56 samples) and detailed mapping. The Exploration Target was derived by modeling the Tyro Vein System within the Tyro Main Zone. The volume of the modeled areas determines the potential tonnage statement in the Exploration Target. The grade range given in the Exploration Target is determined with consideration to the drill results within the modeled Exploration Target area and consideration of the geological setting in an established gold camp where mineralization typically extends to a depth of at least 300 metresSee the heading below “Tyro Main Zone Exploration Target” for additional details. The potential quantity and grades are conceptual in nature. There has been insufficient exploration drilling to define a mineral resource and it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.

The highlights in this update include:

  • To generate a potential maiden resource at the Tyro Main Zone, additional core and reverse circulation (RC) drilling is proposed along with mechanized sampling of surface vein exposures.
  • The Tyro Main Zone Exploration Target is limited to only 1 kilometre of the 3.4 kilometre strike length of the full Tyro vein system (Figure 4).
  • The initial target at the Tyro Main Zone excludes the adjacent targets identified at the historic Banner and Sheep Trail Mines (previous drilling at Banner by Gold79 returned 10.7 grams per tonne Au over 3.1 metres in drill hole GC21-08, see press release dated November 2, 2021).
  • The Tyro Main Zone Exploration Target also excludes the Frisco Graben to the northeast, where continuing work indicates the upper levels of a potential low sulfidation epithermal gold system over an extent of 4 kilometres.

Derek Macpherson, President and CEO stated, “In the second half of 2023, Gold79 undertook a review of all the data collected from the Company’s work at the Gold Chain project over the last 3 years. Our conclusion continues to be that the Gold Chain project has the potential to host multiple, plus million-ounce gold targets. The Tyro Main Zone represents a portion of the potential we see at the project and has become a priority for the Company given the potential to define a higher-grade open-pittable resource that would start from surface with a relatively small amount of additional exploration work.”

Mr. Macpherson continued,This Exploration Target, if converted to a resource, would have the potential to be one of the higher-grade open-pit deposits in the camp, and has the potential to be moved into production quickly given that it is on patented claims and given the existing underutilized infrastructure in the surrounding district.”

Figure 1. Geologic map of the Katherine district and the Gold Chain project.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5717/194934_f7cdbb6454a278e2_001full.jpg

Tyro Main Zone Exploration Target

The Tyro Main Zone consists of the historic Tyro Mine (with production from two-levels of underground workings and a small slot pit) and the Decimal Hill area. The 1,000-metre extent considered in this Exploration Target is contained within 15.6 to 31.2 Mt grading 1.5 to 2.5 g/t Au and is located entirely on 3 patented claims controlled by Gold79.

The work completed to date by Gold79 at the Tyro Main Zone includes:

  • 685.7 metres of RC drilling (Table 1).
  • 95 surface rock chip samples (Figure 2).
  • 56 chip channel samples from the underground workings (Table 2).
  • Detailed geologic mapping of the mine workings, patented claims and surrounding BLM claims.

Using this data, Gold79 has defined the Exploration Target over the 1,000-metre strike length of the Tyro Main Zone and down to a depth of 300 metres. The Exploration Target effectively excludes the potential high-grade zone intersected with drill hole GC23-28 (which included 9.1 metres at 51.09 grams per tonne gold, see press release dated February 28, 2023). This potential high-grade zone was excluded since it has only been intersected in one drill hole to date and would materially skew the potential grade range higher. It should be noted that similar grades in line with GC23-28 were documented to have been mined historically (pre-1940) at the Tyro underground mine.

The dimensions of the Exploration Target are based on surface sampling, detailed mapping, and drilling for strike length and width. The 300-metre depth is consistent with the depth of mineralization encountered in neighboring veins (i.e. Katherine, Arabian and the Oatman district) shown in Figure 1.

The potential quantity and grades estimated for the Tyro Main Zone Exploration Target are conceptual in nature, and there has been insufficient exploration completed to date to define a mineral resource. It is uncertain if further exploration will result in the Tyro Main Zone Exploration Target being delineated as a mineral resource.

Figure 2. Tyro Mine area geologic map showing sections, drill holes and sampling results.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5717/194934_figure2.jpg

Figure 3. Three-dimensional view looking north across the mineralized domain (red) of the Tyro vein system. Historical holes (black dots) and holes proposed for 2024 (blue poles).

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5717/194934_figure3.jpg

Path to a Resource at the Tyro Main Zone

Gold79 believes it has a unique opportunity to define a gold resource with minimal additional investment over a short period of time. Modelling of the existing database (Figure 3) has identified areas where additional exploration is needed to support a maiden inferred resource estimate. Gold79 believes that to define a maiden resource at the Tyro Main Zone to a depth of approximately 150m the following work is required.

  1. Trenching – 24 trenches (~1,100 metres)
  2. Core Drilling – 750 to 1,250 metres
  3. RC Drilling – 1,500 to 2,500 metres

The planned trenching program is expected to help define widths and gold grade in mine and surface exposures. The accessible mine workings have already been sampled (Table 2). Many of the roads required for this work were constructed in the 1980s and surface access/disturbance should not require a permit. It is important to note that each step in the exploration process will define the scale required at the subsequent step.

The potential quantity and grade estimated for the Tyro Main Zone Exploration Target is conceptual in nature, and there has been insufficient exploration completed to date to define a mineral resource. It is uncertain if further exploration will result in the Tyro Main Zone Exploration Target being delineated as a mineral resource.

Table 1. Selected Intercepts from Tyro Main Zone Drilling.

To view an enhanced version of Table 1, please visit:
https://images.newsfilecorp.com/files/5717/194934_table1.jpg

Table 2. Summary of underground chip-channel sampling on the
Tyro Mine 200 Level.

To view an enhanced version of Table 2, please visit:
https://images.newsfilecorp.com/files/5717/194934_table2.jpg

Figure 4. Schematic diagram of the Tyro vein system showing the vein segments defined by WNW- to NW-trending intra- to post-mineral faults and veins.

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/5717/194934_figure4.jpg

Figure 5. Exploration model for low-sulfidation epithermal gold-silver vein systems illustrating vertical variations in quartz textures, structure, alteration and geochemistry along with the estimated vertical positions of the several structural segments of the Tyro vein system. Diagram adapted from: Buchanan (1980), Hollister (1985), Berger & Eimon (1983), Anaconda Corp. (1983), Guoyi (1992) and Corbett & Leach (1996).

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/5717/194934_figure5.jpg

Further Updates Planned on the Frisco Graben and North Oatman Trend

Gold79 has completed a review of the exploration data collected over the last three years at Gold Chain. Given that the upper extent of the “boiling zone” of this low sulphidation epithermal gold system is effectively at surface for the Tyro Main Zone (Figure 5), this has become Gold79’s priority exploration target at Gold Chain. However, based on this review of exploration data, Gold79 also believes that other targets at the Gold Chain project have the potential to yield large gold deposits. Besides the Tyro Vein system, discussed in our May 9, 2023 press release, the North Oatman Trend and Frisco Graben represent large scale targets, with the “bonanza zones” partially exposed or blind to the surface (Figure 5). The Company plans to provide future updates on these other large-scale targets at its Gold Chain project in northwest Arizona.

Qualified Person / Quality Control and Quality Assurance

Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for all phases of drilling programs including sample collection, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, over limit samples were determined by fire assay and gravimetric finish. Silver plus 34 other elements were determined by Aqua Regia ICP-AES, over limit samples were determined by fire assay and gravimetric finish. Standard sample chain of custody procedures were employed during field work and the drilling campaigns until delivery to the analytical facility.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:

Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194934

Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Closes Private Placement

Edmonton, Alberta–(Newsfile Corp. – January 22, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that, on January 19, 2024, it closed on a private placement (the “Offering”) by the issuance of 2,975,500 Units (as defined below) at a price of $0.05 per Unit for gross proceeds of $148,775.

Under the terms of the Offering, each Unit consisted of one common share of the Company (“Common Share”) and one half of one warrant (“Warrant”). Each whole Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.07 per Common Share and shall expire on the earlier of: (a) 30 days following written notice by the Issuer to the Subscriber that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) January 19, 2026.

The Company intends to use the proceeds from the Units for general working capital.

The Common Shares and any Common Shares issued on exercise of the Warrants are subject to restrictions on trading until May 20, 2024 in accordance with the policies of the TSX Venture Exchange.

Following closing of the Offering, the Company has 152,669,619 Common Shares issued and outstanding. The Offering is subject to Final Acceptance by the TSX Venture Exchange.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195112

Categories
Junior Mining Lion One Metals Precious Metals Uncategorized

Lion One Provides Update on Tuvatu Operations in Fiji, Grants Options

North Vancouver, British Columbia–(Newsfile Corp. – January 18, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to provide an update on ongoing operations at the company’s 100% owned Tuvatu Alkaline Gold Project in Fiji.

Lion One Metals’ Chairman and CEO Walter Berukoff stated: “2023 was a year of noteworthy accomplishments for Lion One Metals. Within one year we have gone from pouring concrete to pouring gold. We built the entire processing plant at Tuvatu within one year, completed over 2,000 m of underground mine development, drilled over 40,000 m of core, completed Stage 1 of our Tailings Storage Facility, and on October 10th we celebrated with over 1,000 community members, employees, and government officials as we poured our first gold at Tuvatu. We’re very proud of our technical team’s ability to achieve these significant milestones, especially in such a short period of time.”

“In 2024 we expect another watershed year for Lion One Metals. During the 300 TPD pilot plant phase of operations we will be focusing on the development of the mine and the expansion of the processing plant to 500 TPD. We are pursuing a staged increase in development and the 300 TPD pilot plant stage is a critical step in the continuous improvement of mining and milling at Tuvatu. The knowledge and experience gained during the pilot plant stage of operations will be crucial in achieving long-term success and in optimizing performance at the 500 TPD stage. The goal for 2024 is to have the 500 TPD processing plant in operation by the end of Q3. We will then use the cash flow from our 500 TPD operations to fund the next stage of growth for Lion One, which includes the development of the 500 Zone at Tuvatu, and the advancement of our regional exploration program throughout the Navilawa Caldera, where we intend to discover and develop the next Tuvatu.”

Mine Operations

The focus of mining activities during the 300 TPD pilot plant phase of operations is the development of the underground mine, with the goal of advancing the main decline to the 500 Zone as quickly as is safely possible. A secondary goal during this phase of operations is the development of as many stope access points as feasible in advance of the plant expansion to 500 TPD. A significant portion of the material mined during the 300 TPD pilot plant phase of operations is therefore expected to be development material.

As mine development has progressed at Tuvatu, additional mineralization has been discovered in areas in Zone 2 that were not previously expected to be mineralized. This includes mineralization associated with stockwork veining as well as entirely new mineralized lodes. Many of the development headings at Tuvatu have been found to contain low-grade gold mineralization. This low-grade development material is ideal for use as feed stock to test the different gold recovery circuits during the initial stages of plant operation. Processing the development material also serves to offset costs during mine development as this material needs to be removed regardless of whether it is mineralized. Most of the mill feed during the start-up of the 300 TPD pilot plant has therefore consisted of low-grade development material. The first production material was extracted on December 13th, 2023, from the URW1 leading edge stope in Zone 2. This stope is located outside the original PEA resource and represents an expansion of the resource.

Mining activities at Tuvatu in 2024 will consist of a mix of handheld and mechanized mining methods. Handheld mining is ideal for narrow vein mining as it is precise and enables the effective development of narrow drives, thereby minimizing dilution. Mechanized mining produces wider voids and results in a considerably higher production rate. It is therefore the preferred alternative for wider zones of mineralization that are not sensitive to dilution. At Tuvatu there are areas more suitable for handheld mining and others more suitable for mechanized mining. The mining method employed will be tailored to the style of mineralization being extracted. Mine development is proceeding in a manner designed to preserve the optionality of switching between mining methods as appropriate. To date, development mining at Tuvatu has progressed using both handheld and mechanized mining, yet production mining has been limited to handheld methods. Mechanized production is scheduled to start in Q1 2024. Production mining refers to the mining of production stopes through which most of the mineralized material will be extracted, whereas development mining refers to all the supporting development required to access the production stopes, such as the declines, access drives, crosscuts, ventilation rises, and so on. While the primary mining objective during the 300 TPD pilot plant stage is development, mine production is anticipated to steadily increase as production mining is introduced and as the number of available production areas increases ahead of the plant expansion to 500 TPD.

Mill Operations

The focus of mill operations during the 300 TPD pilot plant stage is on determining the best methods and parameters required to maximize gold recovery from each type of gold mineralization at Tuvatu. Mill operations to date have consisted of a start-up period and a campaign period with feed from different areas within Zone 2 and Zone 5.

During the start-up period of operations from late October to early December 2023, predominantly low-grade material was put through the mill. This is typical of mill start-ups and is done while identifying and resolving any start-up issues that may be present before ramping up production. It also serves to build the in-process store of gold that is retained within the plant. During the subsequent campaign periods of operation, the focus changed to the metallurgical variability of the gold mineralization. Several different types of mineralization have been identified at Tuvatu, including three different types within Zone 2 and Zone 5. Due to the complexity of the deposit, additional variability in mineralization is anticipated as development progresses deeper into the mine. The campaign period of operations, which began in mid-December, has consisted of processing separate batches of material from specific parts of Zone 2 and Zone 5 to determine how the plant responds in each case. The knowledge gained from these campaigns will be applied to maximize gold recovery from the larger production stopes in these areas. Gold recovery rates during the start-up and campaign periods have been in line with expectations.

In addition to the start-up and campaign activities, mill commissioning and upgrading has been carried out. Commissioning of both the continuous gravity concentrator and the intensive leach circuit has been on hold due to a delayed shipment of component parts from suppliers. Both circuits are expected to be brought on-line by early February. Similarly, the blowers supplied to aerate the CIL tanks and cyanide detoxification circuit were found to be undersized by the supplier. New blowers will be installed, along with new air spargers and diffusion cones to improve the performance of the CIL circuit.

The mill expansion to 500 TPD is scheduled to be complete by the end of Q3 2024. The expansion consists of three main components: a tower mill, a flotation circuit, and a third ball mill. The purpose of the tower mill is to produce a finer grind of concentrates from the continuous gravity concentrator, thereby further increasing recoveries. The tower mill is expected to be on site in February. The flotation circuit is also being added to maximize recoveries, while the third ball mill is required to increase the milling capacity of the plant. Site preparations for both the flotation circuit and the third ball mill are already complete and construction is pending. All three mill components are on schedule for completion and commissioning by the end of Q3 2024, which is a year ahead of the originally scheduled completion date of Q3 2025.



Figure 1. Aerial Views of Tuvatu Processing Plant and Mine Portal, December 2022 and January 2024. Top image: Aerial view in December 2022 shortly after plant construction started. Bottom image: Aerial view in January 2024 after construction is complete and the 300 TPD pilot plant is in operation. These views highlight some of the substantial progress made at Tuvatu throughout 2023.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/194707_liononeimage.jpg

Options

The Company also announces it has granted stock options pursuant to its 10% rolling stock option plan to an officer of the Company to purchase up to an aggregate of 500,000 common shares of the Company. The stock options are exercisable at $1.00 per share and expire 5 years from the date of grant.

Qualified Person (NI43-101)

In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43- 101”), Alex Nichol, MAIG, VP Geology and Exploration, is the Qualified Person for the Company, and has reviewed, validated, and approved the technical and scientific content of this news release.

About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

As disclosed in its “Technical Report and PEA Update for the Tuvatu Gold Project” dated April 29, 2022, the 2018 Tuvatu resource estimate comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and under the Lion One profile on the SEDAR+ website at www.sedarplus.ca.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Investor inquiries: info@liononemetals.com
Phone:1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194707

Categories
Base Metals Diamcor Mining Junior Mining

Diamcor Announces Convertible Loan Financing

KELOWNA, BC / ACCESSWIRE / January 18, 2024 / Diamcor Mining Inc. (TSX-V.DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), a well-established Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds announces that the Company intends to complete a convertible loan financing (the “Financing”) of up to CDN$2,000,000.00, and anticipates that an aggregate of approximately CDN$1,250,000.00 of the Financing will be subscribed to by existing larger shareholders and management of the Company. The financing will consist of unsecured convertible promissory notes (the “Notes”) having a term of two (2) years from the closing date and bearing interest at the rate of 15% per annum. During the first year, interest will accrue and be payable 12 months from the date of closing. No principal payments will be required until maturity. The principal amount of the Notes will be convertible at the election of the noteholder into Common Shares of the Company at any time up to the maturity date at the rate of CND$0.10 per share. As provided in Policy 5.2 of the TSX Venture Exchange Corporate Finance Policy Manual, interest will be convertible at the election of the noteholder into Common Shares of the Company at the Market Price as at the time of conversion of the interest.

In addition, subject to the exceptions noted below, the Company will issue non-transferable share purchase warrants to eligible participating investors, with each share purchase warrant entitling the holder thereof to purchase one (1) Common share of the Company at a price of CND$0.15 for a period of two (2) years from the date of issuance (the “Warrants”). The number of Warrants issuable to the eligible participating investors will be equal to the number of Common Shares into which the principal amount of the investor’s Note is convertible.

The proceeds from the Financing will be used for the continued advancement of efforts to increase processing volumes at the Company’s Krone-Endora at Venetia Project (the “Project”), the work programmes previously underway, the announced efforts surrounding drilling and bulk sampling on the greater portions of the Project, and for general corporate purposes. While the Company plans to continue ongoing discussions with financiers and industry-related parties on additional funding scenarios which may be beneficial in increasing long-term shareholder value and added growth, the Company will not be proceeding with the term loan financing of up to CND$5.0M previously announced on October 2, 2023.

For further detail on the Company’s future plans and its perspective on the diamond industry, please see the following in depth interview with Dean Taylor, chief executive officer of Diamcor.

Diamcor Update on the Diamond Industry and Company Focus for 2024 Forward

The Financing is subject to regulatory approval of the TSX Venture Exchange along with completion of all definitive documentation and filings as required. All securities issued pursuant to the above will be subject to a hold period of four months plus one day following the closing.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. With a long-term strategic alliance with world famous Tiffany & Co, the Company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About the Krone-Endora at Venetia Project

Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors:

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

For Investor Relations contact:

Mr. Rich Matthews Mr. Neil Simon
Integrous Communications Investor Cubed Inc
rmatthews@integcom.us nsimon@investor3.ca
+1 (604) 355-7179 +1 (647) 258-3310

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Diamcor Mining Inc.

Categories
Junior Mining Precious Metals

Aya Gold & Silver Reports High-Grade Drill Results from Completed 2023 Drill Exploration Program at Boumadine

MONTREAL, Jan. 18, 2024 /CNW/ – Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) (“Aya” or the “Corporation”) 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 (“g/t”) silver equivalent (“AgEq”) over 38.3 meters (“m”) (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.”

______________________________
1 All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag

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-DD23-2086675NMain129.9139.41.60359.50.20.10.435231
Including134.9139.42.51594.50.30.10.555367
BOU-DD23-2119150NMain6.09.82.01993.80.04.30.017426
BOU-DD23-2148850NMain214.0223.04.77619.00.10.10.25535
Including216.2221.56.61905.30.20.10.36749
BOU-DD23-2188850NPara244.3247.514.72193.20.00.20.141,411
BOU-DD23-2188850NPara252.6256.813.591154.20.10.10.131,409
BOU-DD23-2188850NPara261.2275.11.223013.90.00.00.15153
Including272.3274.05.891191.70.20.10.113698
BOU-DD23-2188850NMain280.3286.19.21805.80.20.10.18978
Including280.3284.313.051084.00.30.10.281,377
BOU-DD23-2188850NPara290.0302.01.985812.00.10.10.28265
Including292.1297.43.501075.30.10.10.111459
BOU-DD23-2188850NPara333.1334.30.0310261.20.00.00.011,031
BOU-DD23-2206575NMain105.0115.91.779110.90.11.74.5133575
Including112.3114.76.262612.40.31.26.6161,275
BOU-DD23-2206575NPara133.4136.80.89763.40.32.57.07649
BOU-DD23-2216575NMain225.5239.01.071213.50.00.20.34136
BOU-DD23-2236525NMain131.6169.91.5331138.30.01.84.4101763
Including144.9155.92.3449411.00.11.93.936996
BOU-DD23-2236525NPara239.5247.00.46947.50.00.20.735192
BOU-DD23-2259325NPara47.453.71.44546.30.00.95.312508
Including50.853.72.88862.90.01.09.921927
BOU-DD23-2259325NMain73.277.42.70214.20.10.33.216465
Including75.277.44.72312.20.10.34.516738
BOU-DD23-2269325NMain182.8186.71.26353.90.11.54.78466
Including184.5185.73.33531.20.11.89.514951
BOU-DD23-2269325NPara197.0198.17.73471.10.30.50.58852
BOU-DD23-2279325NMain259.7268.33.34188.60.10.10.56369
Including263.5268.35.42214.80.10.10.17545
BOU-DD23-2286300NMain267.2276.11.99818.90.01.03.459488
Including267.7273.03.091195.30.01.54.787715
BOU-DD23-2296525NPara111.9116.01.601754.10.11.97.3259810
BOU-DD23-2306575NMain166.6184.22.6424717.60.31.27.786991
Including177.6181.32.916513.70.13.211.51061,662
BOU-DD23-2306575NPara188.2202.32.789714.10.20.46.531755
BOU-DD23-2315375NMain582.0585.70.961103.70.00.62.4339371
BOU-DD23-2327825NMain426.4431.83.91185.40.10.10.12402
Including426.4427.710.72491.30.20.10.221,092
BOU-DD23-2346575NMain310.6317.31.40196.70.10.34.51407
Including315.0316.34.78411.30.20.418.421,518
BOU-DD23-2387825NPara216.0217.81.59471.80.13.73.510517
BOU-DD23-2446450NPara64.070.41.06496.40.00.72.0131287
BOU-DD23-2446450NPara112.8120.60.71627.80.00.21.3196216
BOU-DD23-2446450NPara134.6145.40.414110.80.00.81.2361190
BOU-DD23-2446450NMain148.5155.10.52566.60.00.92.6298295
Including150.5152.11.191871.60.02.59.0946925
BOU-DD23-2456450NPara106.0111.00.05175.01.50.41.570312
BOU-DD23-2456450NMain198.4206.50.731228.10.02.34.768524
Including198.4200.21.832991.80.14.813.12691,355
BOU-DD23-2456450NPara217.5226.50.8669.00.00.30.32112
BOU-DD23-2486450NMain329.5335.45.94595.90.11.08.8231,136
BOU-DD23-2495800NMain598.7601.84.19483.10.10.12.512587
BOU-DD23-2495800NPara693.1695.52.18572.40.00.77.310680
BOU-DD23-2505800NPara236.7239.73.3413.00.00.00.05316
BOU-DD23-2505800NMain377.7384.01.44496.3…0.10.10.512225
BOU-DD23-2505800NPara448.8455.51.02256.70.10.10.412155
BOU-DD23-2516450NMain345.9355.32.66329.40.00.24.414531
Including346.4348.87.99912.40.10.315.8191,719
BOU-DD23-2547650NMain241.4243.45.63612.00.30.21.46703
 *    True width remains undetermined at this stage; all values are uncut.
**   Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag;
       1% Zn: 54.1 Ag.
Figure 1 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes (CNW Group/Aya Gold & Silver Inc)
Figure 1 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes (CNW Group/Aya Gold & Silver Inc)

2023 Exploration Results

For 2023, 197 diamond drill holes (“DDH”) 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.

Figure 2 – Longitudinal View of Boumadine Main Zone (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 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)
Figure 4 – Surface Plan of South Zones with New 2023 DDH Results (CNW Group/Aya Gold & Silver Inc)
Aya Gold & Silver Inc logo (CNW Group/Aya Gold & Silver Inc)
Aya Gold & Silver Inc logo (CNW Group/Aya Gold & Silver Inc)

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.

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”, “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 2022 Annual Information Form dated March 31, 2023, 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-DD23-1708025NPara8.59.60.27451.10.00.00.81118
BOU-DD23-1998275NPara28.629.10.22350.50.00.20.4784
BOU-DD23-1998275NPara124.2125.40.25321.20.00.70.41100
BOU-DD23-1998275NPara154.9155.50.81510.60.00.56.25481
BOU-DD23-1998275NPara222.1224.31.38212.20.00.51.06222
BOU-DD23-1998275NMain255.0255.80.19120.80.00.51.0235112
BOU-DD23-1998275NPara340.6341.31.99230.70.10.30.64260
BOU-DD23-1998275NPara365.6366.10.33400.50.00.61.25154
BOU-DD23-1998275NPara380.6382.81.83252.20.00.23.311383
BOU-DD23-1998275NPara436.8437.40.76160.60.00.11.68180
BOU-DD23-1998275NPara441.4442.00.70320.60.00.32.712255
BOU-DD23-2048375NPara7.89.00.59321.20.00.30.57127
BOU-DD23-2048375NPara74.274.81.19280.60.00.40.912203
BOU-DD23-2048375NPara367.2368.50.54161.30.10.20.3197
BOU-DD23-2048375NMain373.8375.01.92681.20.30.20.61323
BOU-DD23-2048375NPara428.3429.92.38791.60.30.91.63460
BOU-DD23-2058850NMain118.7120.20.20601.50.02.44.815422
BOU-DD23-2058850NPara415.0415.90.56240.90.00.10.11085
BOU-DD23-2066100NNSR0.0207.00.000207.00.00.00.000
BOU-DD23-2076675NPara64.465.40.74161.00.00.10.11292
BOU-DD23-2076675NPara68.469.60.7381.20.00.10.2889
BOU-DD23-2076675NMain76.178.00.28441.90.10.10.1489
BOU-DD23-2076675NPara92.493.10.44190.70.10.10.1780
BOU-DD23-2076675NPara95.996.40.21320.50.10.30.2486
BOU-DD23-2076675NPara146.5148.71.36272.20.00.61.327249
BOU-DD23-2076675NPara356.4358.10.7081.70.00.10.0278
BOU-DD23-2076675NPara360.8362.70.8311.90.00.00.0682
BOU-DD23-2076675NPara365.1365.80.47200.70.00.10.0771
BOU-DD23-2076675NPara367.9369.00.66481.10.01.40.75192
BOU-DD23-2076675NPara370.0370.60.42330.60.00.42.95244
BOU-DD23-2076675NPara417.8418.40.18600.60.00.71.2198173
BOU-DD23-2076675NPara449.2449.80.56320.60.00.30.51124
BOU-DD23-2086675NPara119.4120.41.42291.00.10.20.15190
BOU-DD23-2086675NPara125.8126.80.65281.00.00.00.73132
BOU-DD23-2086675NMain129.9139.41.60359.50.20.10.435231
Including134.9139.42.51594.50.30.10.555367
BOU-DD23-2086675NPara239.0243.50.5194.50.00.00.1766
BOU-DD23-2086675NPara247.5248.50.6941.00.00.00.0272
BOU-DD23-2086675NPara250.5252.10.6591.60.00.00.1576
BOU-DD23-2096100NPara163.3165.60.69362.30.00.00.023107
BOU-DD23-2096100NMain170.5171.31.77650.80.10.10.335258
BOU-DD23-2096100NPara173.7174.21.68390.50.00.10.231214
BOU-DD23-2096100NPara213.5217.50.34724.00.00.90.857180
BOU-DD23-2096100NPara240.0240.50.21360.50.00.34.61316
BOU-DD23-2106100NPara221.8222.80.6381.00.00.00.06473
BOU-DD23-2106100NMain390.6391.60.1141.00.00.00.0718
BOU-DD23-2106100NPara575.6576.20.33160.60.00.10.1256
BOU-DD23-2106100NPara580.3581.40.6741.10.00.00.0168
BOU-DD23-2106100NPara585.6586.60.5581.00.00.00.0162
BOU-DD23-2119150NMain6.09.82.01993.80.04.30.017426
BOU-DD23-2119150NPara18.018.80.96440.80.00.30.013147
BOU-DD23-2119150NPara103.8104.90.03651.10.00.30.3395
BOU-DD23-2119150NPara140.6143.01.20262.40.00.21.06200
BOU-DD23-2126675NMain182.4183.40.99131.00.01.30.611181
BOU-DD23-2126675NPara189.4190.30.03610.90.10.10.621109
BOU-DD23-2136675NMain270.4271.50.03661.10.10.00.0277
BOU-DD23-2148850NPara146.6147.60.97121.00.00.30.523143
BOU-DD23-2148850NPara200.2201.20.14601.00.10.10.1888
BOU-DD23-2148850NMain214.0223.04.77619.00.10.10.25535
Including216.2221.56.61905.30.20.10.36749
BOU-DD23-2148850NPara224.0226.00.52102.00.00.00.3576
BOU-DD23-2148850NPara228.9229.42.13560.50.10.45.325571
BOU-DD23-2159150NPara39.640.80.48201.20.00.21.012125
BOU-DD23-2159150NMain179.9181.00.3511.10.00.10.5666
BOU-DD23-2159150NPara276.8277.60.46240.80.00.30.2388
BOU-DD23-2159150NPara280.1280.70.54390.60.00.10.11100
BOU-DD23-2159150NPara294.8297.61.38222.80.00.50.95217
BOU-DD23-2159150NPara307.3308.21.31290.90.00.10.08155
BOU-DD23-2166100NPara296.0297.20.5941.20.00.00.0162
BOU-DD23-2166100NPara299.6300.80.4741.20.00.00.0150
BOU-DD23-2166100NMain483.1485.51.25322.40.20.30.122194
BOU-DD23-2166100NPara531.9532.40.94600.50.15.21.33390
BOU-DD23-2166100NPara559.0559.80.51160.80.20.30.310110
BOU-DD23-2179150NPara47.248.40.6481.20.00.10.2783
BOU-DD23-2179150NPara220.4220.91.03390.50.10.67.819593
BOU-DD23-2179150NPara226.6227.80.94491.20.00.10.618174
BOU-DD23-2179150NMain232.9233.56.92580.60.11.02.87895
BOU-DD23-2179150NPara310.8312.21.49661.40.00.10.06214
BOU-DD23-2179150NPara313.2314.30.25241.10.00.10.0155
BOU-DD23-2179150NPara327.5328.02.02960.50.01.13.35502
BOU-DD23-2179150NPara337.3337.81.28840.50.00.10.09211
BOU-DD23-2188850NPara226.3227.10.86130.80.00.42.21226
BOU-DD23-2188850NPara238.6239.70.57121.10.00.10.4591
BOU-DD23-2188850NPara244.3247.514.72193.20.00.20.141,411
BOU-DD23-2188850NPara250.6251.60.5381.00.00.00.3176
BOU-DD23-2188850NPara252.6256.813.591154.20.10.10.131,409
BOU-DD23-2188850NPara257.8258.70.43280.90.00.10.1878
BOU-DD23-2188850NPara261.2275.11.223013.90.00.00.15153
Including272.3274.05.891191.70.20.10.113698
BOU-DD23-2188850NMain280.3286.19.21805.80.20.10.18978
Including280.3284.313.051084.00.30.10.281,377
BOU-DD23-2188850NPara290.0302.01.985812.00.10.10.28265
Including292.1297.43.501075.30.10.10.111459
BOU-DD23-2188850NPara303.0304.00.38121.00.00.00.6882
BOU-DD23-2188850NPara333.1334.30.0310261.20.00.00.011,031
BOU-DD23-2199150NPara278.6279.10.42440.50.00.40.19103
BOU-DD23-2199150NPara281.1282.21.78331.10.10.31.21282
BOU-DD23-2199150NPara286.3288.41.72692.10.10.10.04242
BOU-DD23-2199150NPara294.4299.01.19174.60.10.10.23152
BOU-DD23-2199150NPara309.1310.20.5441.10.00.00.0159
BOU-DD23-2199150NPara309.1311.30.5442.20.00.00.0258
BOU-DD23-2199150NPara312.4313.60.4911.20.00.00.0149
BOU-DD23-2199150NPara314.5315.60.5241.10.00.10.2265
BOU-DD23-2199150NPara325.0325.51.27120.50.00.10.01136
BOU-DD23-2199150NPara332.5334.50.65122.00.00.10.1181
BOU-DD23-2199150NPara337.1337.92.09270.80.11.05.11544
BOU-DD23-2199150NPara369.0370.00.33161.00.00.30.51283
BOU-DD23-2199150NMain371.9377.20.95175.30.00.10.56137
BOU-DD23-2206575NPara79.280.40.48161.20.00.71.699174
BOU-DD23-2206575NPara97.298.40.83281.20.00.11.169172
BOU-DD23-2206575NMain105.0115.91.779110.90.11.74.5133575
Including112.3114.76.262612.40.31.26.6161,275
BOU-DD23-2206575NPara120.0121.13.17681.10.10.30.384404
BOU-DD23-2206575NPara129.0130.10.4181.10.00.50.84105
BOU-DD23-2206575NPara133.4136.80.89763.40.32.57.07649
BOU-DD23-2216575NPara62.763.74.48111.00.00.00.01434
BOU-DD23-2216575NPara72.073.00.5341.00.00.10.0158
BOU-DD23-2216575NPara80.281.40.081261.20.10.10.04147
BOU-DD23-2216575NMain225.5239.01.071213.50.00.20.34136
BOU-DD23-2216575NPara345.0345.50.59200.50.00.30.412107
BOU-DD23-2229325NNSR0.1171.10.000171.00.00.00.000
BOU-DD23-2236525NMain131.6169.91.5331138.30.01.84.4101763
Including144.9155.92.3449411.00.11.93.936996
BOU-DD23-2236525NPara174.9176.81.451001.90.00.52.911410
BOU-DD23-2236525NPara188.4189.20.28200.80.00.10.8790
BOU-DD23-2236525NPara201.0202.00.15601.00.00.42.31211
BOU-DD23-2236525NPara216.0216.60.23430.60.01.13.68292
BOU-DD23-2236525NPara224.8226.40.29221.60.00.30.7196
BOU-DD23-2236525NPara227.5228.00.43940.50.01.80.78231
BOU-DD23-2236525NPara232.0233.00.40241.00.00.50.31695
BOU-DD23-2236525NPara239.5247.00.46947.50.00.20.735192
BOU-DD23-2236525NPara254.0254.90.45120.90.00.10.22468
BOU-DD23-2236525NPara262.7263.20.5480.50.00.10.0264
BOU-DD23-2246300NPara93.994.61.15200.70.00.20.316152
BOU-DD23-2246300NPara106.9108.80.90441.90.00.20.1151152
BOU-DD23-2246300NPara114.0114.90.5710.90.00.00.0256
BOU-DD23-2246300NPara159.0160.00.32231.00.00.20.5307102
BOU-DD23-2246300NMain161.0163.70.68892.70.01.30.6785275
BOU-DD23-2259325NPara41.943.40.37541.50.01.54.749400
BOU-DD23-2259325NPara47.453.71.44546.30.00.95.312508
Including50.853.72.88862.90.01.09.921927
BOU-DD23-2259325NPara68.270.20.65162.00.00.42.348215
BOU-DD23-2259325NMain73.277.42.70214.20.10.33.216465
Including75.277.44.72312.20.10.34.516738
BOU-DD23-2259325NPara79.380.70.34141.40.00.20.95104
BOU-DD23-2259325NPara83.184.02.54400.90.11.01.747409
BOU-DD23-2269325NPara175.9176.40.25520.50.03.94.52447
BOU-DD23-2269325NMain182.8186.71.26353.90.11.54.78466
Including184.5185.73.33531.20.11.89.514951
BOU-DD23-2269325NPara189.9190.41.69200.50.01.13.523407
BOU-DD23-2269325NPara197.0198.17.73471.10.30.50.58852
BOU-DD23-2279325NPara253.0254.00.2411.00.00.21.52113
BOU-DD23-2279325NMain259.7268.33.34188.60.10.10.56369
Including263.5268.35.42214.80.10.10.17545
BOU-DD23-2286300NPara43.044.00.03831.00.40.00.04138
BOU-DD23-2286300NPara185.2186.20.6641.00.00.00.0270
BOU-DD23-2286300NPara258.2260.80.55182.60.00.81.210159
BOU-DD23-2286300NMain267.2276.11.99818.90.01.03.459488
Including267.7273.03.091195.30.01.54.787715
BOU-DD23-2286300NPara277.1278.10.36121.00.00.20.4374
BOU-DD23-2286300NPara301.1302.10.38121.00.00.00.35372
BOU-DD23-2286300NPara308.7311.60.27352.90.00.50.53106
BOU-DD23-2286300NPara312.6313.60.27201.00.00.30.8199
BOU-DD23-2286300NPara314.6315.40.52200.80.00.31.72169
BOU-DD23-2286300NPara319.3325.00.36235.70.00.10.3880
BOU-DD23-2286300NPara330.1331.81.07201.70.00.00.05125
BOU-DD23-2286300NPara333.5334.50.58271.00.00.00.01486
BOU-DD23-2286300NPara356.4357.00.75160.60.10.00.1396
BOU-DD23-2286300NPara364.0365.53.3171.50.10.00.06328
BOU-DD23-2286300NPara380.5381.00.51200.50.00.30.1686
BOU-DD23-2296525NPara84.085.00.40111.00.10.31.17130
BOU-DD23-2296525NPara87.889.40.33271.60.00.51.824179
BOU-DD23-2296525NPara90.391.20.24240.90.10.51.122133
BOU-DD23-2296525NPara92.193.00.38160.90.00.50.6397
BOU-DD23-2296525NPara102.2103.20.6751.00.00.20.31492
BOU-DD23-2296525NPara111.9116.01.601754.10.11.97.3259810
BOU-DD23-2296525NPara119.3120.31.32151.00.00.11.444221
BOU-DD23-2296525NPara141.4142.40.48161.00.00.30.44898
BOU-DD23-2296525NPara153.4153.91.02640.50.00.00.019166
BOU-DD23-2296525NPara162.9163.40.201030.50.08.51.15452
BOU-DD23-2296525NPara257.4258.40.03851.00.00.00.0295
BOU-DD23-2296525NMain306.0306.70.88230.70.00.10.59134
BOU-DD23-2306575NPara143.4145.40.84222.00.10.10.16116
BOU-DD23-2306575NPara157.4158.40.51121.00.00.20.638102
BOU-DD23-2306575NPara162.9163.80.26240.90.00.00.12359
BOU-DD23-2306575NMain166.6184.22.6424717.60.31.27.786991
Including177.6181.32.916513.70.13.211.51061,662
BOU-DD23-2306575NPara188.2202.32.789714.10.20.46.531755
BOU-DD23-2315375NPara521.7522.70.13331.00.00.40.4979
BOU-DD23-2315375NPara571.3572.30.54281.00.00.30.12492
BOU-DD23-2315375NPara574.3575.20.34200.90.00.50.1876
BOU-DD23-2315375NMain582.0585.70.961103.70.00.62.4339371
BOU-DD23-2315375NPara589.0592.01.1183.00.00.10.4121147
BOU-DD23-2315375NPara596.0597.00.5411.00.00.00.0654
BOU-DD23-2315375NPara609.3609.81.252510.50.12.62.72863774
BOU-DD23-2315375NPara610.8611.80.33241.00.00.20.130184
BOU-DD23-2327825NPara320.4321.40.31231.00.01.12.135205
BOU-DD23-2327825NPara420.0421.00.79161.00.00.20.66130
BOU-DD23-2327825NMain426.4431.83.91185.40.10.10.12402
Including426.4427.710.72491.30.20.10.221,092
BOU-DD23-2327825NPara438.8439.80.48281.00.00.41.28153
BOU-DD23-2327825NPara521.3522.03.56200.70.10.10.14378
BOU-DD23-2327825NPara532.6534.01.78221.40.10.31.23268
BOU-DD23-2327825NPara596.8597.80.03601.00.00.00.0365
BOU-DD23-2336525NNSR0.076.50.00076.50.00.00.000
BOU-DD23-2346575NPara308.6309.60.7511.00.00.71.83192
BOU-DD23-2346575NMain310.6317.31.40196.70.10.34.51407
Including315.0316.34.78411.30.20.418.421,518
BOU-DD23-2346575NPara322.2323.10.40240.90.00.30.79112
BOU-DD23-2346575NPara324.0324.72.12200.70.00.30.27240
BOU-DD23-2346575NPara363.7364.70.57121.00.00.20.2182
BOU-DD23-2346575NPara407.6408.60.5311.00.00.10.0356
BOU-DD23-2356525NMain382.3384.30.39812.00.30.30.35179
BOU-DD23-2366300NMain343.5345.51.41162.00.00.13.33330
BOU-DD23-2366300NPara357.3358.30.34121.00.00.10.31566
BOU-DD23-2366300NPara394.1395.10.4581.00.00.10.1360
BOU-DD23-2366300NPara437.8438.80.03511.00.40.20.05109
BOU-DD23-2366300NPara479.2480.20.42121.00.10.10.12478
BOU-DD23-2366300NPara553.5554.50.23431.00.00.10.1473
BOU-DD23-2377825NMain373.1374.82.92251.70.00.40.62349
BOU-DD23-2377825NPara377.8379.80.68162.00.00.31.13149
BOU-DD23-2377825NPara469.0469.54.54310.50.10.21.47556
BOU-DD23-2377825NPara475.5476.50.33161.00.00.20.7893
BOU-DD23-2387825NPara65.066.70.5441.70.00.10.8699
BOU-DD23-2387825NPara72.173.01.0410.90.00.00.12107
BOU-DD23-2387825NPara216.0217.81.59471.80.13.73.510517
BOU-DD23-2387825NPara301.0302.00.5811.00.00.10.5288
BOU-DD23-2387825NPara307.0309.01.34182.00.11.32.73335
BOU-DD23-2387825NMain312.3315.71.32113.40.00.10.22151
BOU-DD23-2387825NPara403.4403.91.08120.50.00.40.23137
BOU-DD23-2387825NPara428.7429.70.07391.00.00.10.2560
BOU-DD23-2396575NPara135.8136.80.4181.00.00.00.0349
BOU-DD23-2396575NPara137.8138.90.10361.10.10.10.0255
BOU-DD23-2396575NPara450.7451.70.4841.00.00.00.0552
BOU-DD23-2396575NPara453.7454.70.7841.00.00.10.0182
BOU-DD23-2406525NPara335.6336.60.62201.00.00.31.23154
BOU-DD23-2406525NPara337.6338.60.81161.00.00.20.28111
BOU-DD23-2406525NMain432.2433.00.03450.80.10.60.0375
BOU-DD23-2416300NPara497.0498.00.15361.00.00.10.0455
BOU-DD23-2416300NPara507.5509.00.61261.50.00.10.02694
BOU-DD23-2416300NMain528.3532.10.93123.80.10.10.03113
BOU-DD23-2416300NPara554.8555.40.39240.60.00.20.1572
BOU-DD23-2416300NPara565.1566.13.82361.00.30.00.223449
BOU-DD23-2416300NPara570.0571.00.31161.00.00.10.1653
BOU-DD23-2416300NPara572.0575.00.7373.00.00.30.46107
BOU-DD23-2416300NPara590.2592.01.0781.80.00.10.87158
BOU-DD23-2416300NPara747.6748.40.64280.80.10.50.94160
BOU-DD23-2416300NPara753.9754.50.5080.60.00.10.1365
BOU-DD23-2427825NPara96.497.20.5110.80.00.10.7393
BOU-DD23-2427825NPara173.9174.70.37120.80.00.30.3372
BOU-DD23-2427825NPara178.2179.20.4181.00.00.20.2662
BOU-DD23-2427825NPara197.2198.20.8141.00.00.10.2197
BOU-DD23-2427825NMain277.2278.71.04151.50.00.10.23129
BOU-DD23-2427825NPara281.5282.01.86200.50.00.10.22207
BOU-DD23-2427825NPara371.7372.70.5341.00.00.20.94107
BOU-DD23-2427825NPara375.6376.61.52361.00.10.45.89515
BOU-DD23-2437650NPara85.886.80.031261.00.00.10.48154
BOU-DD23-2437650NPara107.0108.00.06431.00.13.80.03179
BOU-DD23-2437650NPara234.9235.40.44200.50.11.12.88260
BOU-DD23-2437650NPara236.3236.80.48590.50.13.71.12291
BOU-DD23-2437650NMain493.0494.00.4781.00.00.10.51283
BOU-DD23-2437650NPara624.8625.53.0740.70.00.40.65337
BOU-DD23-2446450NPara47.448.10.28200.70.00.20.61386
BOU-DD23-2446450NPara52.753.50.64390.80.00.10.112112
BOU-DD23-2446450NPara64.070.41.06496.40.00.72.0131287
BOU-DD23-2446450NPara72.673.50.39160.90.00.72.222194
BOU-DD23-2446450NPara74.476.20.47341.80.00.32.398221
BOU-DD23-2446450NPara79.280.20.5841.00.00.41.34144
BOU-DD23-2446450NPara81.283.20.4082.00.00.20.6688
BOU-DD23-2446450NPara87.988.71.401260.80.02.09.168821
BOU-DD23-2446450NPara102.1103.60.50451.50.00.63.074280
BOU-DD23-2446450NPara105.5106.40.38520.90.00.52.531240
BOU-DD23-2446450NPara112.8120.60.71627.80.00.21.3196216
BOU-DD23-2446450NPara125.6126.11.87160.50.00.10.337214
BOU-DD23-2446450NPara131.9132.80.33240.90.00.31.164129
BOU-DD23-2446450NPara134.6145.40.414110.80.00.81.2361190
Including138.00.70901.70.01.93.5866456
BOU-DD23-2446450NMain148.5155.10.52566.60.00.92.6298295
Including150.5152.11.191871.60.02.59.0946925
BOU-DD23-2446450NPara172.0172.50.58290.50.00.61.77198
BOU-DD23-2446450NPara173.4174.20.27280.80.00.30.2878
BOU-DD23-2456450NPara106.0111.00.05175.01.50.41.570312
BOU-DD23-2456450NPara146.4149.40.34323.00.00.21.529153
BOU-DD23-2456450NPara157.4159.60.50862.20.01.53.4161377
BOU-DD23-2456450NPara179.4180.40.35241.00.00.60.4698
BOU-DD23-2456450NPara184.4185.40.46441.00.00.10.29105
BOU-DD23-2456450NMain198.4206.50.731228.10.02.34.768524
Including198.4200.21.832991.80.14.813.12691,355
BOU-DD23-2456450NPara213.5214.50.64201.00.00.20.67117
BOU-DD23-2456450NPara217.5226.50.8669.00.00.30.32112
BOU-DD23-2467650NPara46.648.90.56382.30.10.30.78145
BOU-DD23-2467650NPara50.954.00.26313.10.10.10.2775
BOU-DD23-2467650NPara138.4139.90.66121.50.00.71.03156
BOU-DD23-2467650NMain383.2384.20.081961.00.01.60.22265
BOU-DD23-2467650NPara554.9556.31.21161.40.10.20.14153
BOU-DD23-2467650NPara617.8618.80.99241.00.00.30.73167
BOU-DD23-2476450NPara38.742.30.03133.60.81.41.138230
BOU-DD23-2476450NPara104.2105.21.1341.00.10.00.016119
BOU-DD23-2476450NMain254.0257.50.75483.50.00.20.644159
BOU-DD23-2476450NPara261.9262.60.33450.70.00.52.75242
BOU-DD23-2486450NPara261.0262.00.03551.00.10.00.0171
BOU-DD23-2486450NPara322.0323.00.37241.00.00.10.1267
BOU-DD23-2486450NMain329.5335.45.94595.90.11.08.8231,136
BOU-DD23-2495800NPara346.9347.71.68280.80.00.00.323202
BOU-DD23-2495800NPara357.4358.00.4610.60.00.00.0247
BOU-DD23-2495800NPara400.0400.90.64310.90.10.10.28115
BOU-DD23-2495800NPara477.7479.50.91291.80.00.10.010124
BOU-DD23-2495800NPara480.5481.50.4681.00.00.00.0857
BOU-DD23-2495800NPara517.8524.30.62196.50.00.10.21098
BOU-DD23-2495800NPara532.4532.90.73320.50.10.10.026118
BOU-DD23-2495800NPara557.3558.30.4781.00.00.10.11459
BOU-DD23-2495800NPara559.3561.61.16122.30.00.10.013132
BOU-DD23-2495800NPara590.1590.90.42120.80.10.20.11883
BOU-DD23-2495800NPara593.7594.20.52320.50.10.30.29115
BOU-DD23-2495800NMain598.7601.84.19483.10.10.12.512587
BOU-DD23-2495800NPara603.7605.70.31182.00.00.10.0952
BOU-DD23-2495800NPara606.7607.70.35121.00.10.00.0353
BOU-DD23-2495800NPara609.7610.70.6941.00.00.10.0274
BOU-DD23-2495800NPara647.3651.50.98104.20.00.10.22118
BOU-DD23-2495800NPara658.1658.70.5280.60.00.00.0360
BOU-DD23-2495800NPara693.1695.52.18572.40.00.77.310680
BOU-DD23-2495800NPara714.3718.50.55154.20.10.20.53107
BOU-DD23-2495800NPara725.5727.50.44122.00.10.40.1281
BOU-DD23-2495800NPara747.6748.21.15600.60.10.20.19196
BOU-DD23-2495800NPara747.6748.80.85381.20.10.20.233148
BOU-DD23-2505800NPara221.0222.00.6211.00.00.00.0261
BOU-DD23-2505800NPara226.0228.00.8142.00.00.10.0585
BOU-DD23-2505800NPara229.0230.00.5811.00.00.00.0358
BOU-DD23-2505800NPara236.7239.73.3413.00.00.00.05316
BOU-DD23-2505800NPara326.8327.80.71401.00.00.10.082116
BOU-DD23-2505800NPara373.7374.70.4581.00.00.00.0554
BOU-DD23-2505800NMain377.7384.01.44496.30.10.10.512225
BOU-DD23-2505800NPara411.0411.90.31240.90.00.00.11862
BOU-DD23-2505800NPara420.1421.10.22361.00.00.42.220192
BOU-DD23-2505800NPara448.8455.51.02256.70.10.10.412155
BOU-DD23-2505800NPara508.9509.50.67320.60.20.10.05121
BOU-DD23-2516450NPara262.0263.00.03441.00.00.00.0149
BOU-DD23-2516450NPara278.6279.40.03510.80.00.00.01259
BOU-DD23-2516450NMain345.9355.32.66329.40.00.24.414531
Including346.4348.87.99912.40.10.315.8191,719
BOU-DD23-2516450NPara431.4432.16.651390.70.40.10.01818
BOU-DD23-2516450NPara439.1439.80.50240.70.10.10.0182
BOU-DD23-2525800NMain204.5207.40.63582.90.00.71.1230210
BOU-DD23-2525800NPara258.0261.00.041643.00.00.10.12179
BOU-DD23-2537650NPara203.0204.01.011061.00.70.40.14312
BOU-DD23-2537650NMain281.0283.50.52242.50.00.30.51110
BOU-DD23-2547650NPara162.1162.70.62240.60.00.31.26158
BOU-DD23-2547650NPara220.9221.50.53160.60.12.62.65306
BOU-DD23-2547650NMain241.4243.45.63612.00.30.21.46703
BOU-DD23-2547650NPara269.3270.10.51120.80.10.30.53101
*     True width remains undetermined at this stage; all values are uncut.
**   Ag equivalent is based on a 100% recovery with the following ratio; 1 g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 Ag; 1% Pb: 31.8 Ag;
       1% Zn: 54.1 Ag.

Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)

DDH No.EastingNorthingElevationAzimuthDipLength (m)
BOU-DD23-245317 1123 474 6491 27070-50252.4
BOU-DD23-246317 4563 476 0551 215250-50640.1
BOU-DD23-247317 0713 474 6351 26570-50348.7
BOU-DD23-248317 0343 474 6211 26170-50400.9
BOU-DD23-249317 2023 473 9921 27070-50768.0
BOU-DD23-250317 2853 474 0221 26270-50515.0
BOU-DD23-251316 9973 474 6091 25970-50465.4
BOU-DD23-252317 3593 474 0491 26870-50368.4
BOU-DD23-253317 3873 476 0311 217250-50515.6
BOU-DD23-254317 3153 476 0061 221250-50433.5
BOU-DD23-255317 4313 474 0751 27770-50211.7
BOU-DD23-256317 6263 473 7231 27870-50400.6
BOU-DD23-257315 1533 476 0301 283270-50211.0
BOU-DD23-258315 4073 476 0301 263270-50584.0
BOU-DD23-259317 9493 477 0491 195135-50370.0
BOU-DD23-260314 7393 478 1501 228290-50204.2
BOU-DD23-261315 1983 476 0301 288270-50150.5
BOU-DD23-262314 8213 478 1201 230290-50366.2
BOU-DD23-263317 8913 477 1081 193135-50427.1
BOU-DD23-264317 8343 477 1601 192135-50564.1
BOU-DD23-265317 1823 477 2441 205250-50609.7
BOU-DD23-266315 2383 476 0301 283270-50162.0
BOU-DD23-267314 5693 477 9991 239110-50219.7
BOU-DD23-268315 3243 476 0301 270270-50159.3
BOU-DD23-269315 2813 476 0301 277270-50207.1
BOU-DD23-270317 0663 477 5111 201250-50710.0
BOU-DD23-271314 9063 478 0891 235290-50498.2
BOU-DD23-272315 3103 477 7631 278270-50189.4
BOU-DD23-273317 1093 477 5271 200250-50176.8
BOU-DD23-274317 1523 477 5431 200250-50246.0
BOU-DD23-275314 4993 478 0241 231110-50307.3
BOU-DD23-276315 3503 477 7631 276270-50200.9
BOU-DD23-277315 3923 477 7631 273270-50275.7
BOU-DD23-278317 1943 477 5581 198250-50284.8
BOU-DD23-279315 4403 477 7631 278270-50243.9
BOU-DD23-280315 4823 477 7631 276270-50288.1
BOU-DD23-281314 4323 478 0491 221110-50449.8
BOU-DD23-282315 5223 477 7631 268270-50500.6

SOURCE Aya Gold & Silver Inc