Avino Provides San Gonzalo Mine Level 6 Underground Development
Results & Announces 2014 Drill Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 1, 2014) - Avino
Silver & Gold Mines Ltd.
(NYSEMKT:ASM)(TSX-VENTURE:ASM)(FRANKFURT:GV6) ("Avino" or "the
Company") today announced preliminary results from development of
the sixth level of the San Gonzalo Mine as well as plans to
commence its 2014 drill program on the Avino property, located 80km
northeast of Durango, Mexico.
"We are encouraged with the initial sampling results from
level 6 of the San Gonzalo Mine; gold and silver grades continue
strong and both the strike and widths remain consistent with level
5. We look forward to processing this material once it is mined. We
are also pleased to commence our 2014 drill program which is
scheduled to begin as soon as permits are received. This drill
program will explore the San Gonzalo vein at depth as well as other
vein systems nearby."
- David
Wolfin, President, CEO & Director, Avino Silver & Gold
Mines Ltd.
San Gonzalo Mine Level 6 Development Results
Development of level 6 of the San Gonzalo Mine has been ongoing
since the beginning of the year. Drifting to date has totaled 106
metres to the northwest and 122 metres southeast of the main
crosscut across from the ramp on level 6.
Avino has taken face samples to the Northwest and to the
Southeast along the vein. These samples are assayed in Avino's own
lab and provide a quick and inexpensive guide to vein width, grade,
and continuity. Before planning stopes between levels 5 and 6,
Avino samples the back (roof) of the vein. These samples are
delivered to Inspectorate Labs in Durango, Mexico.
Inspectorate Labs are part of the Bureau Veritas Group. Samples
are prepped (ground and prepared into pulps) then air freighted to
the Bureau Veritas facility in Sparks, Nevada, where they are
assayed by techniques described below.
Results to date from the back-sampling programme are as
follows:
Northwest of Crosscut (Poniente Pte) |
Sampled Length Along Vein (m) |
Width (m) |
Gold (g/t) |
Silver (g/t) |
Pb % |
Zn % |
18.28 |
Vein: 1.79 |
3.224 |
485 |
1.22 |
1.88 |
Drift: 2.39 |
2.444 |
370 |
1.02 |
1.53 |
3.58 |
Vein: 1.58 |
0.791 |
176 |
2.55 |
4.05 |
Drift: 2.51 |
0.541 |
123 |
1.95 |
3.16 |
5.89 |
Vein: 1.95 |
2.339 |
611 |
2.22 |
4.07 |
Drift: 2.56 |
1.815 |
472 |
1.92 |
3.52 |
11.38 |
Vein: 1.78 |
1.451 |
134 |
0.51 |
0.80 |
Drift: 2.78 |
1.004 |
98 |
0.40 |
0.62 |
Total: 39.13 |
|
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|
|
|
|
Southeast of Crosscut (Oriente Ote) |
Sampled Length Along Vein (m) |
Width (m) |
Gold (g/t) |
Silver (g/t) |
Pb % |
Zn % |
8.44 |
Vein: 2.53 |
1.711 |
121 |
0.55 |
1.05 |
Drift: 3.90 |
1.231 |
87 |
0.40 |
0.72 |
4.41 |
Vein: 1.55 |
0.934 |
70 |
0.30 |
0.63 |
Drift: 2.90 |
0.717 |
54 |
0.25 |
0.50 |
18.25 |
Vein: 2.05 |
4.309 |
460 |
0.98 |
1.56 |
Drift: 2.72 |
3.358 |
354 |
0.80 |
1.22 |
6.53 |
Vein: 1.94 |
2.291 |
208 |
0.72 |
0.94 |
Drift: 2.38 |
1.905 |
177 |
0.62 |
0.84 |
16.11 |
Vein: 2.90 |
3.538 |
599 |
0.78 |
1.14 |
Drift: 3.62 |
2.862 |
483 |
0.65 |
0.95 |
Total: 53.74 |
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Sampling lengths along the vein are continuous as shown on
the sample plan map available on Avino's website.
The San Gonzalo vein contains the highest gold and silver
values; however, we drift wider along the vein and sample the
country rock on both sides of the vein. The wall rocks usually
contain metal values which decrease with distance from the San
Gonzalo vein; thus, we can plan mining over wider widths, providing
more tonnage and wider stopes, which permit efficient operation
using shrinkage methods whilst providing feed grade to our mill
well above cut-off.
Avino is fortunate to be able to mine wider than the actual San
Gonzalo vein without serious grade dilution.
Assay Methods
Samples from level 6 underground channel sampling of the San
Gonzalo vein are shipped to Inspectorate Labs for analysis for
gold, silver, arsenic, bismuth, copper, molybdenum, lead, antimony,
zinc, and mercury. Samples are crushed and ground in Durango with
pulp assayed in Reno, Nevada using fire assay and AA finish for
gold, four-acid digestion and AA for most silver or fire assay and
gravimetric finish for very high silver, and aqua regia digestion
and ICP-MS for base metals. Inspectorate Labs in Nevada and British
Columbia are ISO 9001:2008 certified, full-service laboratories
that are independent of Avino. Sample QA/QC procedures are as
described in Section 11.5 of the July 2013 Technical Report on the
Avino property by Tetra Tech. 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
from level 6 sampling at San Gonzalo.
2014 Drill Program
In 2014, Avino is planning to undertake both surface and
underground drill programs to further explore the San Gonzalo vein
at depth as well as other nearby vein systems. Currently a 70 metre
cross cut with drill station is being driven on level 6 with plans
to drill angled holes to depth to test the vein between the levels
7 and 10 elevations and below level 10 (the perimeter of the
current mineral resource) with the intent of extending known
mineralization at depth.
Further, the 2014 drill program will include a surface program
intended to explore other vein systems near the San Gonzalo Mine.
These vein systems include the Los Angeles and Angelica veins both
of which are located within drill distance of existing San Gonzalo
mine workings. Drilling will commence when permits are
received.
Avino owns both a surface and underground drill and will conduct
the drilling internally. The surface LY-44 drill was recently fully
rehabilitated with replacement components to make it more powerful;
it now has a capacity of 800 metre using an NQ drill hole
diameter.
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 but are not responsible for other
info.
About Avino
Avino is a silver and gold producer operating the Avino property
located in Durango, Mexico. The Company's mission is to become the
next mid-tier silver producer through profitable organic growth at
the Avino property. We are committed to managing all business
activities in an environmentally responsible and cost-effective
manner while contributing to the well-being of the community in
which we operate.
ON BEHALF OF THE BOARD
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, the potential tonnage, grades and content of
deposits, timing and establishment and extent of resources
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 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.
Avino Silver & Gold Mines Ltd.David WolfinPresident &
CEO604.682.3701604.682.3600ir@avino.comwww.avino.com
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