VANCOUVER, June 20, 2018 /CNW/ - Avino Silver &
Gold Mines Ltd. (ASM: TSX/NYSE American/GV6: FSE; "Avino" or
"the Company") is pleased to announce the 2018 - 2019 strategic
exploration objectives for the Bralorne Gold Mine located near
Gold Bridge, British Columbia;
which will allow the Company to use the gross proceeds of CDN
$6,000,000 raised from the
Flow-Through shares offering which closed on April 27, 2018. The news release dated
April 27, 2018 describing the offer
may be viewed on the Avino website or under the Company's
profile on SEDAR (www.sedar.com) and was also filed with the SEC on
Form 6-K.
"Over the last four years the Company has made considerable
progress, and has achieved many important milestones towards
advancing its Bralorne Gold Mine; including receiving an approved
Permit Amendment to the Mines Act Permit M207, and an updated
mineral resource estimate, construction of a buttress for the
Tailings Storage Facility, the construction of a new Water
Treatment Plant; as well as developing trusting and mutually
beneficial working relationships with local communities including
members of St'at'imc First Nation, said David Wolfin, President and CEO. "I am delighted
that these flow-through funds will allow Avino to build a detailed
geological understanding of the Bralorne deposit and explore for
potential new targets."
The exploration strategy includes the following steps:
- Comprehensive Structural Modelling and Geological Mapping
- Extensive Airborne and Ground Geophysics Surveys
- Focused Geochemical Sampling; and
- Significant Drilling Campaign
This program is the most comprehensive exploration ever
performed on the Bralorne Mining Camp with the goal of making
further and significant discoveries. This program utilizes industry
experts and current state-of-the-art technology to maximize the
potential for success in finding new veins and potentially, new
economic mineralized zones.
The steps in the exploration strategy are explained in more
detailed and are as follows:
Structural Modelling and Geological Mapping
In June 2018 a team of expert
structural geoscientists completed a one month study that evaluated
existing data along with an in-depth site analysis. The objective
of the study was to create an updated, detailed surface geological
map, a complete 3D geological model, and structural model
identifying veining along with target recommendations. Final
results and report on the study are pending.
Airborne and Ground Geophysics Surveys
The geophysical data that has been performed on the properties
is historic and dated, and used methods and technology that is of
limited application to the current environment. As an aid to the
structural and geological modeling, along with greatly assisting
with targeting, current state-of-the-art geophysical surveys have
been scheduled and will be performed over the summer. The proposed
program will include:
AIRBORNE GEOPHYSICS
- Magnetic Survey
-
- Used to map bedrock geology and fault structures
- Radiometric Survey
-
- Used to map alteration and target Cobalt-Gold
mineralization
- Helicopter to fly survey lines at 100 metre and 50 metre
spacing
- Coverage of entire Bralorne Gold Mines property
- Performed by Precision GeoSurveys (Langley, BC) please click on the attached link
Airborne Geophysics Photos to view photos
GROUND GEOPHYSICS
- 2D Seismic Reflection - Frontier Geosciences Inc. (Vancouver)
- Trial survey to test targeting methods
- Three lines planned
- Targeting vein structures
-
- King Deeps - Feeder Structure
- Pioneer 27 & Main Vein Extensions
Geochemical Sampling
With an interest in co-product elements such as cobalt, a
small-scale program is planned as a first pass assessment of the
potential for Cobalt-Gold mineralization, similar to The Little Gem
Cobalt project which is owned by Blackstone Minerals (ASX:BSX), and
which occurs 9 km northwest of the Bralorne property. This sampling
is to include multi-element ICP Analysis which has not been
previously collected on the property. The initial plan is to
collect and analyze approximately 100 stream sediment samples which
may be expanded depending upon the results and success of this
stage.
Drilling Campaign
Based on the information gathered from the comprehensive
geological, geophysical and geochemical work along with analyzing
and data mining at site, an extensive drilling campaign is planned
to commence in August, 2018.
This program will focus on veins and targets identified, and
test new areas that Avino has not explored. The program details are
as follows:
- Approximately CDN $5,000,000 to
be spent on exploration drilling
- Approximately 28,000 metres of drilling
- 2 Drill Rigs to be in operation
- Drill program to take approximately 9 months
- Planned to commence August
2018
- Exploration Drilling - 2 types
-
- Drilling for potential new discoveries on new and underexplored
veins
- Drilling to potentially increase Inferred Resource
Qualified Person(s)
Avino's Bralorne Gold Mine project is under the
supervision of Fred Sveinson, B.A.,
B.Sc., P.Eng, Senior Mining Advisor, who is a qualified person
within the context of National Instrument 43-101, and Mr.
Garth Kirkham, P. Geo., Principal of
Kirkham Geosystems Ltd., who is an "independent qualified person",
as defined by Section 1.5 of NI 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 600 people.
Avino produces from its wholly owned Avino and San Gonzalo Mines
near Durango, Mexico, and is
currently evaluating the potential economics of possible 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 & CEO
Avino Silver & Gold Mines
Ltd.
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
extent and timing of various studies including the PEA, and
exploration results, anticipated capital costs and operational
costs, the potential tonnage, grades and content of deposits,
timing and establishment and extent of resource estimates. 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; 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 as set forth in our regulatory filings in
Canada and the U.S.. 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 the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
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content:http://www.prnewswire.com/news-releases/avino-announces-exploration-update-on-bralorne-300669061.html
SOURCE Avino Silver & Gold
Mines Ltd.