Avino Decline Intersects San Gonzalo Zone
June 04 2010 - 9:04AM
Marketwired Canada
Avino Silver and Gold Mines ("Avino") (TSX
VENTURE:ASM)(OTCBB:ASGMF)(BERLIN:GV6)(FRANKFURT:GV6) is pleased to announce that
our program to access the San Gonzalo vein via a 4 x 4 metre decline has after
the planned 4 months successfully intersected the San Gonzalo vein.
The initial intersection of the San Gonzalo vein by the decline, achieved on
schedule and on budget was channel sampled. (Lines 2 & 8 on table) Avino's
mining personnel and contractors DMG have subsequently drifted along the San
Gonzalo vein in direction Northwest and Southeast. Channel samples have been
taken across the width of the vein over a strike length of 25 metres along the
vein. A plan map showing location of the channel samples can be viewed on
Avino's website (http://www.avino.com/i/pdf/Newdevelopmentgrades_level2.pdf).
Results are as follows:
-------------------------------------------------------------
Line Width (m) Gold Silver Lead Zinc Copper
-------------------------------------------------------------
1 1.55 0.763 323 1143 1062 340
-------------------------------------------------------------
2 3.15 1.310 498 1518 1729 392
-------------------------------------------------------------
3 1.9 0.822 437 4497 1496 559
-------------------------------------------------------------
4 2 0.782 277 884 972 279
-------------------------------------------------------------
5 2.1 1.051 429 1313 1149 322
-------------------------------------------------------------
6 2.4 0.983 167 1698 1730 254
-------------------------------------------------------------
7 2.05 0.872 223 834 2271 315
-------------------------------------------------------------
8 1.45 0.932 375 1496 1246 436
-------------------------------------------------------------
9 1.55 2.209 368 15277 2554 602
-------------------------------------------------------------
10 2.55 1.141 216 4937 3280 560
-------------------------------------------------------------
11 1.95 1.928 325 8343 3165 749
-------------------------------------------------------------
12 2.05 1.245 626 24522 3139 655
-------------------------------------------------------------
13 2.4 2.068 237 9080 4156 565
-------------------------------------------------------------
14 2.7 2.35 323.22 4697.04 2485.48 299.44
-------------------------------------------------------------
15 2.5 0.46 306.2 2194.2 2760 397.18
-------------------------------------------------------------
Average 2.15 1.27 341 5274 2273 442
-------------------------------------------------------------
The vein samples were assayed at SGS Labs Durango.
During 2007, Avino drilled 40 holes totaling 9,204.24 metres on the San Gonzalo
vein, around and below the original workings. In 2008 Avino drilled a further 6
holes totaling 1,782.40 metres.
In August 2009, Ore Quest Consultants Ltd. in a NI 43-101 compliant report
calculated an Inferred Resource. Quote from Ore Quest Consultants Report:
"Based on drilling results an Inferred Resource of 444,250 tonnes has been
estimated with an average grade of 2.61 g/tonne gold and 332 g/tonne silver. The
deposit also contains 1% lead and 1.5% zinc which have not been used in cutoff
grades or equivalent ounces. This resource is estimated to contain 37,300 ounces
of gold and 4.75 million ounces of silver (metallurgical recoveries and net
smelter returns assumed to be 100%).
There is also a small tonnage (43,000 tonnes) surrounding the existing mine
workings which based on historic sample results is estimated to grade 596 g/t
silver. No gold assays are available on this material and the results cannot be
verified nor can the actual outlines of the workings. Recent drilling has
however validated the grades to a certain extent and has demonstrated where
there are no workings. This estimate remains historic as it does not follow the
requirements for reserves and resources outlined in NI 43-101 as the resource
estimate was estimated prior to the enactment of NI 43-101."
As announced in 4 March 2010 News Release, Avino will do further drifting on the
San Gonzalo vein and develop a series of production shrinkage stopes in order to
supply feed to our recently refurbished 250 ton per day flotation circuit at the
Avino Mill, which is currently processing stock piled material from the ET Zone
on the main Avino vein.
This news release has been prepared by Chris J Sampson, P.Eng., Consultant and
Qualified Person for NI 43-101.
ON BEHALF OF THE BOARD
David Wolfin, President
This release contains statements that are forward-looking statements and are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information contained
herein represents management's best judgment as of the date hereof based on
information currently available. The Company does not assume the obligation to
update any forward-looking statement.
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