Avino Provides Update on San Gonzalo Mining & Milling and Commences 2011 Drill Program
February 02 2011 - 8:00AM
Marketwired
Avino Silver and Gold Mines Ltd. (TSX VENTURE: ASM)(OTCBB:
ASGMF)(BERLIN: GV6)(FRANKFURT: GV6) is pleased to provide the
following update on mining and milling operations for the past 3
months.
The processing of surface stockpiles of copper ore to test the
new mill facilities was completed in October 2010. Approximately
17,500 tonnes were treated resulting in 419 tonnes of concentrate.
Recovery rates were 66% Gold, 58% Silver and 56% copper. The sale
of this concentrate has been finalized with a payment of
US$1,016,680.00.
In November, following the relining of the ball mill and the
changeover of several conveyor belts in the crushing plant,
processing of the San Gonzalo development material began with a
daily treatment rate of approximately 180 tonnes per day. This rate
was maintained until the development material was finished on
January 14, 2011. During this period, a total of 5,896 tonnes of
development ore was processed for the production of 192 tonnes of
concentrate grading 11.54g/t gold, 3.617kg/t silver with minor
amounts of copper, lead and zinc. Feed grade averaged 205g/t Ag and
0.78g/t Au. Plans are being formulated and plant testing will
continue to determine the optimum process conditions in order to
improve the recoveries.
With an inventory of approximately 200 wet tonnes of bulk
concentrate, proposals are currently being sought from various
interested parties for the sale of the product.
Development for the extraction of the 10,000 tonne bulk sample
was completed by the mining contractor (DMG) in early January. The
main Stope 2-140 has approximately 6350 tonnes ready for drawdown
and there is approximately 4700 tonnes on stockpile near the
crushing plant. The smaller stope to the West where a cut and fill
mining method is used has the potential for additional mill feed
with further development. The broken ore inventory to date will
provide approximately 4 months of mill feed at the current milling
rate. Plans are now in place to develop the zone to the East on
level 2260 towards drill hole SG-07-33 for future mill feed. This
is a wide structure with good potential.
Following a complete overhaul of Avino's longyear 44 drill and a
new drill contract for personnel and materials, Avino started its
regional exploration drill program on January 27 and the first hole
SG-11-01 was finished January 30th. The hole was drilled on bearing
215,dip 60 length 88.75 m and successfully intersected the San
Gonzalo structure from hole 80.90 to 83.40m east of the area
currently being mined.
Holes SG-11-02 thru SG-11-09 will all explore areas of San
Gonzalo as a guide to mine development; hole locations can be
viewed on Avino's website,
http://www.avino.com/i/pdf/AvinoNRFeb0211.pdf.
Material from the surface stockpiles was assayed on site and at
SGS Labs in Durango. Development material from the San Gonzalo zone
was assayed at SGS, Durango.
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.
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.
Contacts: Avino Silver & Gold Mines Ltd. David Wolfin
President 604.682.3701 604.682.3600 (FAX) ir@avino.com
www.avino.com
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