11:59 AM EDT, 09/15/2025 (MT Newswires) -- Aya Gold & Silver ( AYASF ) reported Monday new drilling results confirming the discovery of a new gold zone at the Asirem Zone, located west of the Boumadine main trend in Morocco.

Results from the new Asirem gold zone include 1.52 grams per tonne gold over 4.3 meters, 1.49 g/t gold over 1.0 meters, and 1.95 g/t over 1.0 meters.

National Bank of Canada kept Aya's outperform rating and $19 price target, which was based on 1.50x NAVPS. The bank said its thesis is supported by Aya's NAV expansion from production growth and high-grade resource accretion at the Zgounder mine, promising pipeline prospect in Boumadine, and the company's status as the only pure-play silver producer in the bank's coverage.

"The discovery and new gold zone at Asirem, west of Boumadine's main trend, confirms that Boumadine is evolving into a true district-scale asset with multiple mineralized trends," president and chief executive officer Benoit La Salle said.

Aya also reported high-grade drill results from the Boumadine main trend, intercepting 369 g/t silver equivalent over 9.0 meters and 232 g/t silver equivalent over 12.2 meters.

Meanwhile, results from the Tizi zone include 272 g/t silver equivalent over 4.6 meters.

"These results highlight additional zones of mineralization, reinforcing Boumadine's scale and optionality as one of Morocco's most significant emerging precious metals discoveries," La Salle said.

Aya expects to release a preliminary economic assessment on the Boumadine main trend by the end of the year.

Aya traded 4.1% higher at last look to $16.60 per share on the TSX.

Price: 16.65, Change: +0.70, Percent Change: +4.39