NYSE-MKT: ASM TSX-V: ASM FSE: GV6
VANCOUVER, Aug. 14, 2017 /PRNewswire/ - Avino Silver & Gold Mines Ltd.
(NYSE-MKT:ASM: TSX.V, ASM; "Avino" or the "Company") is pleased
to announce the drill results from the remaining eleven holes of
the extended 22-hole drill program at the main Avino Mine located
on the Avino property, 80 Km northeast of Durango, Mexico. The 22-hole program,
comprising approximately 3,374 metres, was extended from the
original 18-hole program to fully evaluate the tonnage and the
grade of the new area of the Avino Vein System between the
San Luis workings and the Elena
Tolosa ("ET") current production area. The results from the
original eighteen hole drill program were released on December 21, 2016 and April 25, 2017 and are available on our website
at the following links:
http://www.avino.com/s/news.asp?ReportID=774072 and
http://www.avino.com/s/news.asp?ReportID=787740.
The objective of the extended drill program of an additional 22
holes, which commenced in March, 2017, was to fully evaluate the
tonnage and the grade of the new 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 Avino Vein (Epithermal) has been followed along strike 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 is a longitudinal section map linked to this release which
is a close up of the area of drilling between the San Luis and the Elena Tolosa workings, (to
view click here) and 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 pleased with the success of this drill program
which began in September, 2016. These remaining results support the
continuation of the extensive Avino Vein system, and provide
further confidence that should allow us to go underground to
develop this area for mining. We are also encouraged by the
notable assays that demonstrate that this is a new gold rich area
that has been untouched in the past.
Furthermore, we are excited to have commenced drilling on three
additional areas of mineralization at the Avino property, where
there may be potential to expand the resources."
David Wolfin –
President & CEO Avino Silver
& Gold Mines Ltd.
Drill intersections are spaced 25 to 30 metres apart in order to
increase confidence in grade and continuity for the new mineralized
block. This material 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 Elena Tolosa
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 eleven holes are as follows:
|
|
|
|
|
|
|
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
ET-17-12
Infill
|
Hanging Wall
Breccia
|
27.40 –
36.70
|
9.30
|
0.39
|
29
|
0.25
|
|
Including
|
27.40 –
28.30
|
0.90
|
0.926
|
94
|
0.14
|
|
|
28.30 –
29.55
|
1.25
|
0.748
|
25
|
0.15
|
|
|
31.95 –
32.95
|
1.00
|
0.407
|
55
|
0.11
|
|
Avino Vein Footwall
Zone
|
51.60 –
74.25
|
22.65
|
1.48
|
41
|
0.20
|
|
Including
|
55.20 –
67.55
|
12.35
|
2.20
|
64
|
0.17
|
|
|
52.55 –
53.20
|
0.65
|
1.32
|
9
|
0.01
|
|
|
54.0 –
55.20
|
1.20
|
1.44
|
11
|
0.01
|
|
|
55.20 –
56.20
|
1.00
|
2.78
|
12
|
0.05
|
|
|
56.20 –
56.95
|
0.75
|
2.38
|
32
|
0.01
|
|
|
56.95 –
57.65
|
0.70
|
4.28
|
15
|
0.01
|
|
|
57.65 –
58.60
|
0.95
|
5.34
|
127
|
0.32
|
|
|
58.60 –
59.20
|
0.60
|
6.60
|
54
|
0.01
|
|
|
59.20 –
60.00
|
0.80
|
3.68
|
115
|
0.13
|
|
|
60.00 –
60.30
|
0.30
|
1.15
|
353
|
0.03
|
|
|
60.30 –
61.30
|
1.00
|
2.77
|
104
|
0.23
|
|
|
61.30 –
62.10
|
0.80
|
1.37
|
57
|
0.93
|
|
|
66.00 –
66.75
|
0.75
|
1.08
|
26
|
0.19
|
|
|
66.75 –
67.55
|
0.80
|
1.37
|
57
|
0.93
|
|
|
67.80 –
68.80
|
1.00
|
1.02
|
38
|
1.34
|
ET-17-13
Infill
|
Hanging Wall
Breccia
|
22.50 –
30.25
|
7.75
|
1.44
|
97
|
0.43
|
|
Including
|
22.50 –
23.40
|
0.90
|
0.72
|
116
|
1.25
|
|
|
23.40 –
24.15
|
0.75
|
0.54
|
290
|
0.44
|
|
|
24.15 –
24.90
|
0.75
|
1.82
|
28
|
0.42
|
|
|
24.90 –
25.55
|
0.65
|
1.52
|
70
|
0.11
|
|
|
25.55 –
26.25
|
0.70
|
5.48
|
101
|
0.05
|
|
|
26.25 –
26.90
|
0.65
|
2.02
|
42
|
0.03
|
|
|
27.75 –
27.90
|
0.35
|
2.34
|
152
|
0.09
|
|
|
27.90 –
28.50
|
0.60
|
0.44
|
273
|
0.87
|
True widths cannot be determined with the information
available.
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
|
Avino Vein All
Zone
|
33.10 –
54.25
|
21.15
|
1.34
|
28
|
0.85
|
|
Including
|
33.10 –
33.60
|
0.50
|
1.22
|
37
|
0.07
|
|
|
44.70 –
45.60
|
0.90
|
2.12
|
13
|
0.04
|
|
|
45.60 –
46.70
|
1.10
|
2.44
|
21
|
0.12
|
|
|
46.70 –
47.50
|
0.80
|
3.30
|
28
|
0.55
|
|
|
47.50 –
47.95
|
0.45
|
1.69
|
80
|
13.4
|
|
|
47.95 –
48.95
|
1.00
|
1.65
|
43
|
0.89
|
|
|
53.75 –
54.25
|
0.50
|
1.35
|
61
|
0.72
|
ET-17-14
Infill
|
Avino Vein All
Zone
|
22.55 –
57.05
|
34.50
|
0.347
|
88
|
0.82
|
|
Avino Fault Hanging
Wall
|
22.55 –
30.30
|
7.75
|
0.41
|
232
|
0.15
|
|
Avino Vein Hanging
Wall Zone
|
33.65 –
41.40
|
7.75
|
0.21
|
20
|
0.02
|
|
Avino Vein
|
44.45 –
50.05
|
5.60
|
0.21
|
20
|
0.02
|
|
Avino Vein Footwall
Zone
|
51.30 –
57.05
|
5.75
|
1.04
|
97
|
0.20
|
|
Including
|
22.80 –
23.20
|
0.40
|
0.53
|
170
|
0.35
|
|
|
25.70 –
26.20
|
0.50
|
0.34
|
104
|
0.12
|
|
|
27.45 –
28.15
|
0.70
|
0.12
|
96
|
0.06
|
|
|
35.85 –
36.55
|
0.70
|
0.25
|
128
|
0.74
|
|
|
36.55 –
37.45
|
0.90
|
0.11
|
78
|
0.11
|
|
|
39.35 –
39.90
|
0.55
|
0.27
|
199
|
0.08
|
|
|
39.90 –
40.60
|
0.70
|
2.66
|
1,844
|
0.03
|
|
|
40.60 –
41.40
|
0.80
|
0.58
|
141
|
0.02
|
|
|
53.90 –
54.70
|
0.80
|
2.11
|
305
|
0.48
|
|
|
54.70 –
55.35
|
0.65
|
5.51
|
182
|
0.61
|
|
|
56.75 –
57.05
|
0.30
|
1.68
|
4
|
0.01
|
ET-17-15
Infill
|
Hanging Wall
Breccia
|
12.25 –
14.70
|
2.45
|
0.21
|
231
|
0.17
|
|
Including
|
12.25 –
13.65
|
1.40
|
0.27
|
257
|
0.15
|
|
|
13.65 –
14.70
|
1.05
|
0.12
|
196
|
0.19
|
|
Hanging Wall
Fault
|
28.45 –
29.80
|
1.35
|
0.51
|
92
|
0.07
|
|
Including
|
29.30 –
29.55
|
0.25
|
1.91
|
251
|
0.14
|
|
Avino Vein
|
40.30 –
65.70
|
25.40
|
0.68
|
47
|
0.08
|
|
Avino Vein
Footwall
|
58.55 –
65.70
|
7.15
|
1.46
|
95
|
0.08
|
|
Including
|
41.50 –
42.55
|
1.05
|
0.64
|
113
|
0.69
|
|
|
58.55 –
59.70
|
1.15
|
1.63
|
63
|
0.02
|
|
|
59.70 –
59.95
|
0.25
|
1.14
|
402
|
0.11
|
|
|
61.35 –
62.25
|
0.90
|
1.25
|
15
|
0.02
|
|
|
62.25 –
62.95
|
0.70
|
1.37
|
126
|
0.05
|
|
|
62.95 –
63.70
|
0.75
|
1.34
|
108
|
0.10
|
|
|
63.70 –
65.30
|
1.60
|
2.38
|
111
|
0.11
|
|
|
65.30 –
65.70
|
0.40
|
2.65
|
275
|
0.36
|
True widths cannot be determined with the information
available.
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
|
|
|
|
|
|
|
ET-17-16
Infill
|
Avino Vein
|
160.10 –
203.15
|
43.05
|
0.50
|
33
|
0.08
|
|
Avino Vein
Footwall
|
190.00 –
203.15
|
13.15
|
0.81
|
53
|
0.10
|
|
Including
|
171.65 –
172.55
|
0.90
|
0.21
|
276
|
1.0
|
|
|
172.55 –
173.40
|
0.85
|
1.37
|
12
|
0.01
|
|
|
173.90 –
174.30
|
0.40
|
1.13
|
28
|
0.01
|
|
|
185.20 –
185.75
|
0.55
|
1.25
|
4
|
0.01
|
|
|
190.0 –
190.75
|
0.75
|
1.69
|
40
|
0.05
|
|
|
192.30 –
192.75
|
0.45
|
3.73
|
184
|
0.04
|
|
|
192.75 –
193.25
|
0.50
|
1.11
|
4
|
0.01
|
|
|
193.25 –
193.50
|
0.25
|
4.73
|
19
|
0.08
|
|
|
197.90 –
198.10
|
0.20
|
3.29
|
3
|
0.02
|
|
|
198.55 –
199.40
|
0.85
|
1.14
|
392
|
0.07
|
|
|
200.15 –
201.0
|
0.85
|
1.33
|
28
|
0.03
|
|
|
202.85 –
203.15
|
0.30
|
1.61
|
314
|
2.34
|
ET-17-17
Infill
|
Avino FootWall
Vein
|
237.90 –
246.75
|
8.85
|
0.09
|
61
|
0.77
|
|
Including
|
240.25 –
246.75
|
6.50
|
0.10
|
78
|
1.02
|
|
|
240.80 –
241.75
|
0.95
|
0.11
|
229
|
2.19
|
ET-17-18
Infill
|
Avino Vein
|
186.75 –
195.20
|
8.45
|
1.36
|
7
|
0.02
|
|
Including
|
188.85 –
190.30
|
1.45
|
1.32
|
6
|
0.03
|
|
|
193.05 –
193.65
|
0.90
|
8.03
|
13
|
0.04
|
|
|
193.95 –
195.20
|
1.25
|
1.40
|
9
|
0.04
|
|
Avino FootWall
Vein
|
225.60 –
238.85
|
13.25
|
0.26
|
28
|
0.23
|
|
Including
|
227.80 –
228.40
|
0.60
|
3.50
|
91
|
1.26
|
ET-17-19
Infill
|
Avino Hanging Wall
Vein
|
140.65 –
141.30
|
0.65
|
5.64
|
26
|
0.09
|
|
Avino Vein
|
190.15 –
213.55
|
23.40
|
1.09
|
167
|
0.38
|
|
|
205.15 –
206.25
|
1.10
|
4.07
|
223
|
0.30
|
|
|
206.25 –
206.60
|
0.35
|
2.31
|
502
|
3.90
|
|
|
206.60 –
207.50
|
0.90
|
1.13
|
109
|
0.14
|
|
|
207.50 –
208.40
|
0.90
|
1.64
|
80
|
0.38
|
|
|
208.40–
209.00
|
0.60
|
11.19
|
1,082
|
0.58
|
|
|
209.0 –
209.90
|
0.90
|
4.96
|
1,023
|
0.93
|
|
|
209.90 –
211.0
|
1.10
|
1.54
|
447
|
0.51
|
|
|
211.00 –
211.90
|
0.90
|
1.71
|
270
|
0.58
|
|
|
211.90 –
212.55
|
0.65
|
0.50
|
360
|
1.34
|
ET-17-20
Infill
|
Hanging Wall Breccia
Zone
|
67.2 –
75.4
|
8.2
|
0.59
|
18
|
0.07
|
|
Including
|
67.2 –
70.05
|
2.85
|
0.90
|
14
|
0.04
|
|
|
67.55 –
68.20
|
0.65
|
1.87
|
15
|
0.08
|
True widths cannot be determined with the information
available.
Hole
Number
|
Zone
|
Intersection
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
|
Avino Vein
|
174.2 –
214.65
|
40.45
|
0.56
|
42
|
0.19
|
|
Avino Vein Hanging
Wall
|
175.2 –
184.95
|
15.1
|
0.98
|
53
|
0.15
|
|
Including
|
183.2 –
184.15
|
0.95
|
2.43
|
98
|
0.16
|
|
|
184.15 –
184.95
|
0.8
|
2.26
|
89
|
0.13
|
|
Avino Vein Foot
Wall
|
200.8 –
206.75
|
5.95
|
0.77
|
85
|
0.22
|
|
Including
|
203.3 –
203.9
|
0.6
|
0.49
|
184
|
0.66
|
|
|
205.1 –
205.65
|
0.55
|
1.33
|
284
|
1.00
|
ET-17-21
Infill
|
Hanging Wall
Breccia
|
64.75 –
76.8
|
12.05
|
0.64
|
28
|
0.18
|
|
Including
|
68.4
-68.75
|
0.35
|
0.22
|
86
|
1.84
|
|
|
74.1 –
75.25
|
1.15
|
0.18
|
80
|
0.06
|
|
|
75.25 –
75.75
|
0.5
|
3.01
|
32
|
0.04
|
|
|
75.75 –
76.8
|
1.05
|
2.54
|
22
|
0.07
|
|
Avino Hanging Wall
Vein
|
148.45 –
148.65
|
0.2
|
0.05
|
118
|
3.89
|
|
Avino Vein
|
198.9 –
240.95
|
42.05
|
0.49
|
103
|
0.18
|
|
Including
|
200.3 –
200.9
|
0.60
|
0.68
|
152
|
0.48
|
|
|
207.55 –
208.6
|
1.05
|
4.71
|
166
|
0.12
|
|
|
208.6 –
210.45
|
1.85
|
1.44
|
150
|
0.13
|
|
|
210.45 –
211.9
|
1.45
|
2.69
|
95
|
0.13
|
|
|
221.6 –
222.9
|
1.30
|
0.19
|
418
|
0.01
|
|
|
229.0 –
230.3
|
1.30
|
0.16
|
491
|
0.41
|
ET-17-22
Infill
|
Avino Hanging Wall
Vein
|
177.15 –
180.30
|
3.15
|
1.71
|
10
|
0.06
|
|
Intermediate Avino
Vein
|
202.70 –
222.45
|
19.75
|
1.41
|
29
|
0.08
|
|
Including
|
216.05 –
217.65
|
1.60
|
4.77
|
17
|
0.07
|
True widths cannot be determined with the information
available.
New Drill Programs Targeting Three Areas of Potential
Mineralisation
The company has commenced new drill programs on the Avino
property which are targeting three areas of
mineralisation.
The first area of drilling is located on surface at the west end
of the San Gonzalo mine, and comprises six (6) holes for a total of
1,200 metres of NQ drilling. The second area is situated
where the Avino-San Juventino and the Footwall Breccia intersect,
and consists of five (5) holes for a total of 1,300 metres.
The third area is located in the historical El Chirumbo mining
area, which is located at the east end of the Avino vein, and
comprises 10 holes for a total of 2,000 metres of NQ drilling. This
area was previously mined between 1930 and 1940 and is
characterized by gold rich mineralization in narrow vein (1 metre
in width) and the company believes there is potential to extend the
mineralisation.
These three areas are all outside of the existing active mining
areas and have the potential to extend resources.
Assay Methods
Following detailed geological and geotechnical logging, drill
core samples are sawed in half. One half of the core is
submitted for assaying and the other half is retained on-site for
verification and reference. Samples from diamond drill holes
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 Michael O'Brien P.Geo., Pr.Sci.Nat., who is an
employee of ARANZ Geo Canada and is independent of Avino, as
defined by Section 1.5 of NI 43-101., 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 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.