VANCOUVER, BC, March 9, 2022 /CNW/ - Avino Silver & Gold
Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6), "Avino"
or "the Company") is pleased to announce drill results from the La
Potosina area of the Avino property.
The 2021 drill program included 2,400 metres of drilling at La
Potosina. An area of the Avino property that has been known to host
high-grade, low sulphidation style mineraliation similar to that
encountered at Avino's San Gonzalo Mine. The La Potosina area is
only 3 kilometres from the San Gonzalo Mine and just 5 kilometres
from the mill facilities at the Avino Mine.
Following Up on Historic Data Which Returned 2,737 g/t AgEq
Over 0.40 Metres Within 329 g/t AgEq Over 6.30 Metres
Just over 10 years ago drilling at La Potosina identified near
surface structure similar to the San Gonzalo Vein and was
continuous for 300 metres and had a vertical extension of 1,000
metres. A recent surface rights agreement was reached in
early 2021 with the local landowner and as a result this area has
become a high priority for Avino.
Highlights from the 2021 drill program are as
follows:
Hole LP-21-06 from 333.05m to
337.45m returns 4.40 metres at 270
g/t Ag, 2.5% Zn and 0.9% Pb (463 g/t AgEq)
Including 333.05m to 333.25m returns 0.20 metres at 1,257 g/t Ag, 4.4%
Zn and 2.8% Pb (1,641 g/t
AgEq)
Including 335.55m to
335.90m returns 0.35 metres at 510
g/t Ag, 5.0% Zn and 2.2% Pb (918 g/t
AgEq)
Including 335.90m to
336.35m returns 0.45 metres at 406
g/t Ag,4.2% Zn and 1.3% Pb (717 g/t AgEq)
Hole LP-21-07 from 151.70 to 154.65 returns 2.95 metres at
617 g/t Ag and 0.40 g/t Au (668 g/t AgEq)
Drill results are located in a table at the end of this release
and includes historical data.
Our 2022 plans include an additional 40 holes with 6,000 metres
of drilling.
"We are excited to continue exploring the La Potosina area and I
want to commend our personnel on site who were able to negotiate
the surface rights agreement," said David Wolfin, President and
CEO. "Following our exploration strategy discussed previously, La
Potosina factors in prominently as one of our high-grade, near
surface targets. This target has the potential to supplement our
current feed to the mill in the near to medium term. We are excited
to continue exploring this area and it will be a focus for our 2022
exploration plans."
La Potosina Vein
The La Potosina Vein is a typical low-sulfidation epithermal
structure and is similar to the San Gonzalo Vein previously mined
at the San Gonzalo Mine. The La Potosina Vein is NW-trending and
dips towards the southwest. The vein consists of multiple quartz
phases, with adularia, rhodonite, disseminated pyrite,
arsenopyrite, as well as base metal sulfides such as galena and
sphalerite, and chalcopyrite occurs as a minor component and
becomes more prominent with increasing depth below surface. Higher
silver grades in the La Potosina Vein appear to occur at elevations
2,100 metres above sea level. The silver minerals consist of silver
sulfosalts such as pyrargyrite and proustite that commonly form in
low temperature environments and some minor argentite. Abundant
galena (associated with silver and sphalerite) are present
in Hole LP-21-06, at a relatively low elevation of 1,900
metres above sea level, suggesting a source in the base sulfide
zone.
The ongoing exploration model will focus on verifying the
continuity of the vein along strike trending NW at elevations above
2,100 metres while looking for favorable dilation structures in the
northwest.
Table 1: La Potosina 2021 Drill Summary
Hole
Number
|
From
|
To
|
Length
(m)
|
True width
(m)
|
Au
G/T
|
Ag
G/T
|
Cu
(PPM)
|
Pb
(PPM)
|
Zn
(PPM)
|
AgEq
G/T
|
LP-21-01
|
221.70
|
223.90
|
2.20
|
1.55
|
0.29
|
50
|
448
|
2,923
|
5,186
|
115
|
including
|
222.70
|
223.35
|
0.65
|
|
0.41
|
62
|
666
|
4,622
|
10,000
|
168
|
LP-21-02
|
363.45
|
366.30
|
2.85
|
0.81
|
0.07
|
25
|
81
|
707
|
1,243
|
41
|
including
|
363.95
|
364.45
|
0.50
|
|
0.11
|
81
|
163
|
1,220
|
2,220
|
107
|
LP-21-03
|
243.40
|
246.00
|
2.60
|
1.56
|
0.30
|
117
|
971
|
4,551
|
7,387
|
206
|
including
|
243.40
|
243.55
|
0.15
|
|
0.03
|
349
|
4,350
|
969
|
1,160
|
418
|
LP-21-04
|
208.35
|
213.00
|
4.65
|
3.90
|
0.36
|
54
|
335
|
2,423
|
5385
|
121
|
including
|
208.35
|
208.65
|
0.30
|
|
0.77
|
91
|
588
|
20,000
|
42,100
|
435
|
LP-21-05
|
256.90
|
260.75
|
3.85
|
2.85
|
0.10
|
23
|
243
|
1,820
|
2,678
|
54
|
including
|
257.05
|
257.15
|
0.10
|
|
0.18
|
83
|
1,530
|
13,500
|
40,400
|
359
|
LP-21-06
|
333.05
|
337.45
|
4.40
|
1.70
|
0.09
|
270
|
2,564
|
8,962
|
24,915
|
463
|
including
|
333.05
|
333.25
|
0.20
|
|
0.09
|
1,257
|
4,840
|
27,600
|
43,800
|
1,641
|
including
|
335.55
|
335.90
|
0.35
|
|
0.08
|
510
|
6,070
|
21,800
|
50,400
|
918
|
including
|
335.90
|
336.35
|
0.45
|
|
0.07
|
406
|
4,450
|
12,900
|
41,900
|
717
|
LP-21-07
|
151.70
|
154.65
|
2.95
|
2.87
|
0.40
|
617
|
429
|
1,250
|
1,656
|
668
|
LP-21-08
|
181.80
|
185.70
|
3.90
|
2.57
|
0.39
|
106
|
1,008
|
2,254
|
7,015
|
192
|
including
|
181.80
|
182.85
|
1.05
|
|
0.33
|
175
|
2,680
|
881
|
1,120
|
245
|
LP-21-09
|
84.65
|
85.50
|
0.85
|
0.85
|
1.10
|
283
|
333
|
755
|
1,397
|
384
|
including
|
84.95
|
85.50
|
0.55
|
|
0.97
|
410
|
497
|
659
|
354
|
498
|
1.AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
Table 2: Historic holes – LP-11-05 to LP-11-09
Hole
Number
|
From
|
To
|
Length
(m)
|
True width
(m)
|
Au
G/T
|
Ag
G/T
|
Cu
(PPM)
|
Pb
(PPM)
|
Zn
(PPM)
|
AgEq
G/T
|
LP-11-05
|
120.80
|
124.35
|
3.55
|
3.50
|
0.44
|
107
|
121
|
748
|
7,863
|
183
|
including
|
120.80
|
121.50
|
0.70
|
|
1.12
|
220
|
180
|
1,682
|
4,350
|
339
|
LP-11-06
|
129.40
|
135.95
|
6.55
|
6.00
|
0.45
|
218
|
400
|
1,239
|
3,250
|
280
|
including
|
129.40
|
130.25
|
0.85
|
|
0.87
|
594
|
871
|
700
|
364
|
679
|
including
|
131.25
|
131.85
|
0.60
|
|
0.09
|
731
|
1,757
|
404
|
586
|
766
|
LP-11-07
|
91.55
|
92.25
|
0.70
|
0.65
|
1.45
|
231
|
233
|
1,206
|
3,808
|
372
|
LP-11-08
|
79.65
|
86.00
|
6.35
|
6.30
|
0.12
|
305
|
219
|
861
|
1,935
|
329
|
including
|
80.90
|
81.30
|
0.40
|
|
0.29
|
2,644
|
1,197
|
4,498
|
7,627
|
2,737
|
LP-11-09
|
117.50
|
120.55
|
3.05
|
2.80
|
0.09
|
108
|
92
|
754
|
2,099
|
129
|
1.AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
Sampling and Assay Methods
Following detailed geological and geotechnical logging, drill
core samples are sawed in half. One half of the core is submitted
to SGS Laboratory facility in Durango,
Mexico, and the other half is retained on-site for
verification and reference. 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 exceeding 10,000 ppm (1%) are-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.
The sampling and assays methods for the historical data at La
Potosina from 2011 was submitted to Inspectorate lab, (as it was
formally known, and is currently named Bureau Veritas), a facility
in the City of Durango and used the diamond core sampling
method.
Qualified Person(s)
Avino's projects in Durango,
Mexico are under the geoscientific oversight of Michael F. O'Brien, P.Geo., Senior Principal
Consultant, Red Pennant Communications, and under the supervision
of Peter Latta, P.Eng, Avino's VP,
Technical Services, who are both qualified persons within the
context of NI 43-101. Both have reviewed and approved the technical
data in this news release.
About Avino
Avino is primarily a silver producer from its wholly owned Avino
Mine near Durango, Mexico. The
Company's silver, gold and copper 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 and the strategic acquisition of mineral exploration
and mining properties. We are committed to managing all business
activities in a safe, environmentally responsible, and
cost-effective manner, while contributing to the well-being of the
communities in which we operate. We encourage you to connect with
us on Twitter at @Avino and on LinkedIn at Avino Silver & Gold
Mines. To view the Avino Mine VRIFY tour, please click here.
On Behalf of the Board
"David Wolfin"
_____________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
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.
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, 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; the COVID-19 pandemic; volatility in the global
financial markets; 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 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. For more detailed information regarding the
Company including its risk factors, investors are directed to the
Company's Annual Report on Form 20-F and other periodic reports
that it files with the U.S. Securities and Exchange Commission.
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SOURCE Avino Silver & Gold Mines Ltd.