10:55 AM EDT, 09/16/2024 (MT Newswires) -- Aya Gold & Silver ( AYASF ) reported on Monday "high-grade" drill results from its 120,000-meter exploration program at the Boumadine project in Morocco.

The company said the results extended the main mineralized trend by 400 meters and continue to demonstrate the continuity of the Boumadine main zone, which remains open in all directions.

Highlights include 462 grams per tonne (g/t) silver equivalent over 2.8 meters in BOU-DD24-376.

"The positive geophysical results and the upcoming 3D inversion will be invaluable in identifying parallel zones and expanding Boumadine along strike and at depth," President and CEO Benoit La Salle said. "We look forward to drilling up these promising geophysical targets in the coming months."

National Bank of Canada confirmed its Outperform rating and $21.75 price target for Aya following the announcement.

Aya's share price was down 0.2% at last look to $16.23.

Price: 16.24, Change: -0.02, Percent Change: -0.12