11:34 AM EDT, 03/26/2025 (MT Newswires) -- (Adds comment and updates shares.)

Aya Gold & Silver ( AYASF ) on Wednesday reported additional high-grade silver drill results from the Zgounder silver mine in Morocco.

Highlights include 3,794 grams per tonne (g/t) silver over 10.0 meters in the Central zone, 1,001 g/t silver over 28.0 meters in the open pit area, and 911 g/t silver over 10.0 meters at depth near the granite contact.

The results "confirm the presence of an additional high-grade zone to the west by the fault, reinforcing the potential to expand Zgounder resources at depth," said Benoit La Salle, Aya Gold & Silver's ( AYASF ) president and CEO.

Aya said two underground rigs and one reverse circulation rig are currently active at the mine, and expects to release results in the coming months.

National Bank of Canada maintained its outperform rating and $20.75 price target at following the company's release.

National Bank reiterated Aya as a top precious metals pick, supported by NAV expansion from production growth at the Zgounder mine; high-grade resource accretion at Zgounder; promising pipeline prospect at the Boumadine project; and the only pure-play silver producer in the bank's coverage.

Aya's shares were last seen down $0.16 to $12.75 on the Toronto Stock Exchange.

Price: 12.77, Change: -0.14, Percent Change: -1.08