NYSE-MKT: ASM
TSX-V: ASM
FSE: GV6
VANCOUVER, April 25, 2017 /CNW/ - Avino Silver & Gold Mines Ltd.
(NYSE-MKT:ASM: TSX.V, ASM; "Avino" or the "Company") is pleased
to announce the following results from a further ten holes of its
originally planned 18-hole drill program (3,000 metres) at
the main Avino Mine located on the Avino property, 80 Km northeast
of Durango, Mexico. The results
from the first eight holes of the drill program were released on
December 21, 2016 and are available
on our website at the following link:
http://www.avino.com/s/news.asp?ReportID=774072.
The objective of the foregoing drill program which commenced in
September, 2016 was to explore the area of the Avino Vein System
between the San Luis workings and
the Elena Tolosa ("ET") current production area. This new area is
close to surface and accessible from the existing Avino Mine
underground workings. The area was identified as a target of
interest and may have been overlooked in the past given that on
surface and at shallow depths, the Avino Vein system splits into
hanging wall and foot wall structures.
The 18-hole drill program was completed with Hole ET-17-11 in
mid March, and in order to fully evaluate the tonnage and the grade
of the new zone, Avino decided to extend the program with an
expected additional 20 drill holes. The drill is currently
completing Hole ET-17-17 (the sixth hole of the extended 20-hole
program).
In addition to the foregoing drilling there were five
holes (17-01 to 17-05) drilled west of the San Luis workings the results of which are
attached in a separate table.
The Avino Vein (Epithermal) has been followed longitudinally for
more than 1,300 metres and vertically for more than 600 metres. It
strikes north 66° east with an east-west splay, and dips to the
south and southeast at 60° to 70°. Steeply dipping, high grade
zones within the vein and stock-work zones (See Avino stockwork photos linked here) are
frequently found throughout the vein, as well as at its
intersections with a number of lateral veins. The new zone is
approximately 240 metres of strike length by 130 metres in depth,
and an average of 15 metres in thickness. The Avino vein
remains open at depth.
There are two longitudinal section maps linked to this release,
1) showing the full longitudinal section, (to view click here) and
2) a close up of the area of drilling between the San Luis and the Elena Tolosa workings, (to
view click here) which will also be available on our website at
www.avino.com. The central area workings area is referred to as
Elena Tolosa.
"We are very encouraged with the overall results of the initial
exploration drill program between the San
Luis workings and Elena Tolosa, and due to the success of
the program, we are pleased to have extended it. The results
support the continuation of the extensive Avino Vein system, and
continue to demonstrate that this is a new gold rich area that has
been untouched in the past."
David Wolfin – President &
CEO Avino Silver & Gold Mines
Ltd.
Drill intersections are spaced 25 metres apart in order to add
greater certainty to the new mineralized block. This tonnage
is included in the inferred category of mineral resources in the
most recent resource estimate dated September 26, 2016. Two access levels between
San Luis and ET have been channel
sampled thus providing more certainty. An evaluation of the zone is
being carried out by company engineers and geologists, with the
expectation of converting a portion of the inferred resources to
the indicated resource category.
The results of the remaining ten holes are as follows:
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
ET-16-09
Infill
|
Hanging Wall Breccia
Zone
|
55.55 –
57.1
|
1.55
|
2.16
|
110
|
0.09
|
|
Including
|
56.25 –
57.1
|
0.85
|
3.71
|
140
|
0.06
|
|
Hanging Wall Breccia
Footwall Zone
|
62.45 –
67.35
|
4.90
|
5.36
|
26
|
0.07
|
|
Including
|
62.45 –
63.75
|
1.30
|
1.95
|
10
|
0.02
|
|
|
64.85
-66.17
|
1.32
|
7.04
|
50
|
0.14
|
|
|
66.17 –
67.35
|
1.18
|
11.95
|
28
|
0.10
|
|
Avino Vein Hanging
Wall Zone
|
165.45-
169.0
|
3.55
|
0.50
|
75
|
0.18
|
|
Avino Vein
Intermediate Zone
|
174.08 –
182.85
|
8.77
|
1.17
|
45
|
0.21
|
|
Including
|
175.5 –
176.5
|
1.0
|
2.99
|
153
|
0.21
|
|
|
176.5 –
176.9
|
0.40
|
1.58
|
104
|
0.69
|
|
Avino Vein Footwall
Zone)
|
195.3 –
214.5
|
19.20
|
0.39
|
51
|
0.38
|
|
Including
|
202.4 –
214.3
|
11.90
|
0.45
|
57
|
0.54
|
ET-16-10
Infill
|
Veins on Hanging
Wall
|
155.70 –
161.45
|
5.75
|
1.03
|
13
|
0.05
|
|
Including
|
155.7 –
157.25
|
1.55
|
2.36
|
12
|
0.03
|
|
|
157.25 –
157.8
|
0.55
|
1.18
|
15
|
0.04
|
|
Avino Vein Hanging
Wall Zone
|
178.9 –
193.25
|
14.35
|
0.34
|
6
|
0.01
|
|
Avino Vein Footwall
Zone
|
197.9 –
216.05
|
18.05
|
0.60
|
8
|
0.06
|
|
Including
|
197.9 –
198.3
|
0.40
|
3.07
|
25
|
0.01
|
|
|
214.1 –
215.2
|
1.10
|
4.57
|
6
|
0.03
|
ET-16-11
Infill
|
Avino Vein HW Breccia
Zone
|
152.47 –
160.90
|
8.43
|
2.16
|
21
|
0.2
|
|
Including
|
158.15 –
159.2
|
1.05
|
5.90
|
30
|
0.17
|
|
|
159.2 –
160.3
|
1.10
|
4.04
|
43
|
0.30
|
|
Avino Vein Footwall
Zone
|
206.9 –
231.4
|
24.50
|
0.36
|
29
|
0.40
|
|
Including
|
206.9 –
209.45
|
2.55
|
2.80
|
110
|
0.62
|
ET-16-12
Infill
|
Hanging Wall
Vein
|
63.05 –
64.35
|
1.30
|
0.28
|
29
|
0.06
|
|
|
127.65 –
127.8
|
0.15
|
5.339
|
10
|
0.06
|
|
|
183.4 –
183.55
|
0.15
|
1.598
|
57
|
0.06
|
|
FW Avino
Vein
|
230.75 –
242.45
|
11.70
|
0.36
|
131
|
0.41
|
|
Including
|
237.35 –
237.95
|
0.60
|
4.069
|
1216
|
3.16
|
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
ET-17-06
Infill
|
Hanging wall
Breccia
|
23.4 –
31.10
|
7.70
|
0.86
|
149
|
0.25
|
|
Andesite with
veinlets
|
53.30 –
54.4
|
1.10
|
0.06
|
147
|
1.49
|
|
Avino Vein
|
81.85 –
120.65
|
38.80
|
1.07
|
29
|
0.1
|
|
Avino Vein Hanging
Wall Zone
|
81.85 –
84.95
|
3.10
|
0.40
|
136
|
0.40
|
|
Avino Vein
Intermediate
|
90.0 –
97.20
|
7.20
|
0.91
|
28
|
0.15
|
|
Avino Vein
Intermediate
|
101.7 –
107.8
|
11.15
|
0.47
|
10
|
0.03
|
|
Including
|
97.20 –
98.35
|
1.15
|
3.35
|
42
|
0.04
|
|
|
98.35 –
99.70
|
1.35
|
3.39
|
29
|
0.01
|
|
|
99.70 –
100.55
|
0.85
|
3.91
|
20
|
0.06
|
|
|
100.55 –
101.70
|
1.15
|
4.12
|
49
|
-
|
|
Avino Vein Footwall
Zone
|
112.20 –
120.65
|
8.45
|
0.88
|
15
|
0.08
|
ET-17-07
Infill
|
Hanging wall
Breccia
|
24.75 –
30.05
|
5.30
|
0.92
|
177
|
0.14
|
|
Including
|
27.55 –
28.35
|
0.8
|
2.10
|
487
|
0.16
|
|
Andesite with
veinlets
|
31.35 –
37.30
|
5.95
|
0.05
|
156
|
0.23
|
|
Avino Vein
|
72.0 –
98.50
|
26.50
|
1.26
|
21
|
0.09
|
|
Including
|
77.40 –
78.60
|
1.20
|
4.09
|
18
|
0.26
|
|
|
84.30 –
85.05
|
0.75
|
6.04
|
4
|
0.004
|
|
|
96.30 –
97.25
|
0.95
|
2.49
|
85
|
0.03
|
|
|
97.25
-98.50
|
1.25
|
2.52
|
52
|
0.09
|
ET-17-08
Infill
|
Hanging wall
Breccia
|
39.3 –
48.70
|
9.40
|
0.42
|
67
|
0.09
|
|
Avino
Vein
|
85.80 –
101.85
|
16.05
|
1.20
|
39
|
0.19
|
|
Including
|
95.65 –
96.10
|
0.45
|
5.36
|
3
|
0.002
|
|
|
98.55 –
99.45
|
0.90
|
4.29
|
11
|
0.24
|
|
|
100.05 –
100.95
|
0.85
|
3.53
|
2
|
0.015
|
ET-17-09
Infill
|
Hanging Wall
Breccia
|
42.85 –
50.30
|
7.45
|
0.36
|
55
|
0.33
|
|
Including
|
48.8 –
49.05
|
0.25
|
0.23
|
420
|
4.76
|
|
Avino Vein
|
68.60 –
88.60
|
20.0
|
2.32
|
66
|
0.08
|
|
Including
|
80.35 –
81.45
|
1.10
|
4.62
|
70
|
0.045
|
|
|
81.45 –
82.15
|
0.70
|
6.85
|
476
|
0.11
|
|
|
82.15 –
83.00
|
0.85
|
2.91
|
86
|
0.11
|
|
|
83.0 –
84.10
|
1.10
|
2.74
|
69
|
0.02
|
|
|
84.10 –
85.10
|
1.0
|
3.68
|
85
|
0.44
|
|
|
86.75 –
87.25
|
0.5
|
2.59
|
157
|
0.003
|
|
|
88.10 –
88.6
|
0.5
|
4.89
|
15
|
0.004
|
ET-17-10
Infill
|
Avino Vein
|
94.55 –
113.20
|
18.2
|
0.44
|
17
|
0.04
|
|
Stockwork
Footwall
|
121.5 –
125.6
|
3.20
|
0.46
|
41
|
0.05
|
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
ET-17-11
Infill
|
New vein Hanging
Wall
|
86.4 –
88.45
|
2.05
|
0.92
|
154
|
0.61
|
|
Including
|
86.4 –
87.10
|
0.70
|
0.66
|
103
|
0.85
|
|
|
87.10 –
87.45
|
0.35
|
1.48
|
97
|
0.07
|
|
|
87.45 –
88.05
|
0.60
|
1.33
|
290
|
0.43
|
|
|
95.5 –
103.5
|
7.85
|
0.14
|
98
|
0.07
|
|
Avino Vein
|
117.85 –
124.05
|
6.20
|
0.46
|
192
|
0.34
|
|
Including
|
117.85 –
120.4
|
3.45
|
0.76
|
305
|
0.51
|
True widths cannot
be determined with the information available.
|
Holes drilled west of the San
Luis workings:
This exploration drilling is in a new gold rich area that has
not been explored in the past and is west of the San Louis
workings. The following five holes ET 17-01 to 17-05 were not part
of the infill drill program, and were drilled in January and
February, 2017. These holes are situated west of the San Luis workings and indicate that the
mineralization of the Avino vein system runs right into the fault.
The copper values are showing higher than the gap area between
San Luis and Elena Tolosa.
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
ET-17-01
|
Hanging Wall
Vein
|
40.35 –
41.5
|
1.15
|
1.06
|
190
|
1.03
|
|
Hanging Wall
Vein
|
45.60 –
48.95
|
3.35
|
0.64
|
215
|
0.39
|
|
Hanging Wall Avino
Vein
|
63.45 –
71.1
|
7.65
|
0.47
|
39
|
0. 394
|
|
Avino Vein Footwall
Zone
|
86.05 –
90.4
|
4.35
|
1.90
|
125
|
0.65
|
|
Including
|
86.05 –
86.4
|
0.35
|
5.58
|
276
|
0.73
|
|
|
88.05 –
88.65
|
0.60
|
3.39
|
126
|
0.88
|
|
|
88.65 –
89.65
|
1.00
|
2.82
|
173
|
1.63
|
ET-17-02
|
Hanging Wall
Vein
|
49.8 –
61.1
|
11.30
|
0.97
|
54
|
0.24
|
|
Including
|
58.0 –
59.45
|
1.45
|
3.19
|
68
|
0.76
|
|
Mineralized
Zone
|
67.45 –
79.0
|
11.55
|
0.43
|
7
|
0.19
|
|
Footwall Avino
Vein
|
79.95 –
86.40
|
6.45
|
1.85
|
34
|
0.24
|
|
Including
|
85.4 –
85.7
|
0.30
|
13.99
|
31
|
0.31
|
ET-17-03
|
Hanging Wall
Vein
|
53.0 –
55.75
|
2.75
|
0.38
|
30
|
0.24
|
|
Hanging Wall
Vein
|
56.55 –
66.65
|
10.10
|
0.49
|
29
|
0.10
|
|
Including
|
66.20 –
66.65
|
0.45
|
2.83
|
62
|
1.04
|
|
Footwall Avino
Vein
|
69.0 –
72.75
|
3.75
|
0.27
|
20
|
0.10
|
ET-17-04
|
Hanging Wall
Vein
|
59.4 –
66.3
|
6.90
|
1.05
|
38
|
0.27
|
|
Including
|
63.0 –
63.50
|
0.5
|
2.98
|
41
|
0.08
|
|
Stockwork between
Hanging
Wall and Footwall of
Avino Vein
|
69.40 –
79.7
|
10.30
|
0.18
|
7
|
0.2
|
|
Footwall Avino
Vein
|
94.80 –
103.6
|
8.80
|
1.24
|
14
|
0.14
|
|
Including
|
97.70 –
98.45
|
0.75
|
2.82
|
19
|
0.08
|
ET-17-05
|
Did not cut
vein
|
|
|
|
|
|
True widths cannot
be determined with the information available.
|
Assay Methods
Following detailed geological and geotechnical logging, drill
core samples are sawed in half. One half of the core is
submitted to the assay labs and the other half is retained on-site
for verification and reference.
Samples from diamond drill holes of the program were submitted
to the SGS Laboratory facility in Durango, Mexico. The gold is assayed by fire
assay with an AA finish. Any samples exceeding 3.0
grams/tonne gold are re-assayed and followed by a gravimetric
finish. Multi-element analyses are also completed for each
sample by SGS ICP14B methods. Any copper values over 10,000 ppm
(1%) are re-assayed using ICP 90Q. Silver is fire assayed
with a gravimetric finish for samples assaying over 100
grams/tonne.
Avino uses a series of standard reference materials (SRMs),
blank reference materials (blanks), and duplicates as part of their
QA/QC program during analysis of assays.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson, P.Eng, Avino Consultant, and
Jasman Yee P.Eng, Avino Director,
who are both qualified persons within the context of National
Instrument 43-101. Both have reviewed and approved the technical
data in this news release.
About Avino:
Avino is a silver and gold producer with a diversified pipeline
of gold, silver and base metals properties in Mexico and Canada employing approximately 500
people. Avino produces from its wholly owned Avino and San
Gonzalo Mines near Durango,
Mexico, and is currently planning for future production at
the Bralorne Gold Mine in British
Columbia, Canada. The Company's gold and silver production
remains unhedged. The Company's mission and strategy is to create
shareholder value through its focus on profitable organic growth at
the historic Avino Property near Durango,
Mexico, and the strategic acquisition of mineral exploration
and mining properties. We are committed to managing all business
activities in an environmentally responsible and cost-effective
manner, while contributing to the well-being of the communities in
which we operate.
On Behalf of the Board
"David Wolfin"
David
Wolfin
President & Chief Executive Officer
Safe Harbor Statement - This news release contains
"forward-looking information" and "forward-looking statements"
(together, the "forward looking statements") within the meaning of
applicable securities laws and the United States Private Securities
Litigation Reform Act of 1995, including our belief as to the use
of proceeds from the Offering and the Company's plans for
production for its Avino property and Bralorne Mine property. These
forward-looking statements are made as of the date of this news
release and the dates of technical reports, as applicable. Readers
are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the future
circumstances, outcomes or results anticipated in or implied by
such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur. While we have based these
forward-looking statements on our expectations about future events
as at the date that such statements were prepared, the statements
are not a guarantee that such future events will occur and are
subject to risks, uncertainties, assumptions and other factors
which could cause events or outcomes to differ materially from
those expressed or implied by such forward-looking statements.
Such factors and assumptions include, among others, our ability
to use the proceeds from the Offering as expected, the effects of
general economic conditions, the price of gold, silver and copper,
changing foreign exchange rates and actions by government
authorities, uncertainties associated with legal proceedings and
negotiations and misjudgments in the course of preparing
forward-looking information. In addition, there are known and
unknown risk factors which could cause our actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Known risk factors include risks
associated with project development; the need for additional
financing; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in foreign
countries; environmental liability claims and insurance; reliance
on key personnel; the potential for conflicts of interest among
certain of our officers, directors or promoters of with certain
other projects; the absence of dividends; currency fluctuations;
competition; dilution; the volatility of the our common share price
and volume; tax consequences to U.S. investors; and other risks and
uncertainties. Although we have attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. We are under no obligation to update or alter any
forward-looking statements except as required under applicable
securities laws.
Cautionary Note to United States Investors - The information
contained herein and incorporated by reference herein has been
prepared in accordance with the requirements of Canadian securities
laws, which differ from the requirements of United States securities laws. In particular,
the term "resource" does not equate to the term "reserve". The
Securities Exchange Commission's (the "SEC") disclosure standards
normally do not permit the inclusion of information concerning
"measured mineral resources", "indicated mineral resources" or
"inferred mineral resources" or other descriptions of the amount of
mineralization in mineral deposits that do not constitute
"reserves" by SEC standards, unless such information is required to
be disclosed by the law of the Company's jurisdiction of
incorporation or of a jurisdiction in which its securities are
traded. U.S. investors should also understand that "inferred
mineral resources" have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal
feasibility. Disclosure of "contained ounces" is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
Neither 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.
SOURCE Avino Silver & Gold
Mines Ltd.