Avino Reports Achievements for 2007, Plans Bulk Sampling and New Resource Calcuation for 2008
January 31 2008 - 1:47PM
Marketwired Canada
Avino Silver & Gold Mines Ltd. ("Avino" or the "Company") (TSX
VENTURE:ASM)(OTCBB:ASGMF)(BERLIN:GV6)(FRANKFURT:GV6) is pleased to present an
outline of 2007 work and plans for 2008 at the Avino Mine property near Durango
in north-central Mexico. Highlights of this outline include results from 18,000
metres of exploratory drilling in 2007. For 2008, Avino plans a new 43-101
resource calculation, bulk sampling program and follow-up exploration to the
extensive IP survey conducted in 2007.
HIGHLIGHTS FOR 2007
Diamond Drilling on 11 Target Areas - 40 Holes at San Gonzalo
Key to Avino's achievements in 2007 was extensive exploration diamond drilling
on 11 different targets across the large Avino Mine property. This program
focused on two zones: the high-grade San Gonzalo and the Avino Vein ET zone. Out
of 82 holes, totaling approximately 18,000 metres, 40 holes were drilled at San
Gonzalo with outstanding results for silver (for assay details see 2007 news
releases at www.avino.com). A 12-hole program at the ET zone also produced a
number of high-grade silver intercepts (see news release dated Jan. 17, 2008).
Following is a summary of holes drilled in the 2007 program:
Holes Total metres
------------ ------------
San Gonzalo 40 9,204
Los Angeles 5 950
Santiago 9 1,308
Santa Ana 1 315
San Pedro and San Pablo 1 181
Nuestra Senora 5 649
Geophysical Targets 1 361
Avino Vein Gap Zone 3 658
Guadalupe 1 209
Avino Vein ET Zone 12 3,907
Aguila Mexicana 1 202
IP Survey Completed
Peter E. Walcott & Associates of Vancouver, BC conducted an 80-line-kilometre IP
geophysical survey over the property in 2007. A report detailing the results of
this survey is expected early in 2008.
Agreement on Local Surface Rights
Avino also concluded an agreement regarding the mill site with the local surface
rights holders, whereby Avino retains surface rights for 20 years with a
possible extension for another 10 years. The Company's involvement with farmers
in the two local villages-Panuco de Coronado and San Jose de Avino-indicates
their commitment to mining in the area.
PLANS FOR 2008
New 43-101 Resource Calculation for San Gonzalo Zone
As a result of the numerous ore-grade intersections encountered at San Gonzalo,
a 43-101-compliant resource calculation is now underway for this zone. Avino has
retained David Gunning, P. Eng., a Qualified Person under 43-101, who is
reviewing all results.
Bulk Sampling at San Gonzalo
Avino also plans to extract and process a 10,000-tonne bulk sample from San
Gonzalo. This program will provide concentrate for testing at various smelters.
In preparation for the sampling, Avino will re-commission a 250-ton circuit at
the mill to facilitate the processing of lead-silver ore from San Gonzalo.
More Drilling Across the Avino Mine Property
A critical part of the 2008 exploration will include further drilling on a
number of known zones. Cerro San Jose, Aguila Mexicana and Santa Ana are
expected key targets, but drilling should be widespread across the property.
Follow-up on IP Survey
Once a final report on the 2007 IP survey has been received from Peter E.
Walcott & Associates, Avino is planning to conduct follow-up soil geochemical,
satellite imagery and other surveys to better define targets in the covered
areas.
Founded in 1968, Avino has established a long record of mining and exploration.
The Company's focus is the acquisition and aggressive exploration of top silver
prospects throughout North America. Avino remains well funded and debt free.
ON BEHALF OF THE BOARD
David Wolfin, President
Avino Silver & Gold Mines Ltd. (TSXV:ASM)
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