Avino Completes San Gonzalo Bulk Sampling Program
June 09 2011 - 8:00AM
Marketwired Canada
Avino Silver & Gold Mines Ltd. (TSX
VENTURE:ASM)(OTCBB:ASGMF)(BERLIN:GV6)(FRANKFURT:GV6) -
The San Gonzalo Bulk Sample program was completed on April 2, 2011. A total of
10519 tonnes of ore was processed for the production of 232 tonnes of
concentrate of which 209 wet tonnes were shipped and sold to MRI Trading AG. The
final invoice for the sale was completed on June 1st where the average May gold
and silver metal prices were used to calculate the final invoice for proceeds of
$1,831,544. All the information pertaining to the bulk sample program has been
forwarded to an independent engineering firm for verification of the bulk sample
results. These results will be made public as soon as received, with an
operational decision expected thereafter.
With the completion of the bulk sample program, processing of the San Gonzalo
development ore continued until May 13th. Approximately 400 tonnes of
concentrate have been produced from development ore and is available for sale.
Request for proposals for the sale of this material is being solicited.
Since May 18th the plant has been processing stockpiled copper ore from past
mining of the Avino vein. There is approximately 17000 tonnes available and will
take 4 months to process.
Avino's recent equipment acquisitions include a Cat 922 loader and D6 bulldozer.
There are also plans to purchase other underground equipment in order to reduce
downtime experiences from the use of the contractor's equipment.
Proposals to supply grid power to San Gonzalo are being evaluated and a decision
will be made soon.
Fresh water supply from Avino'sGaleano well was reactivated in May. The major
costs for this work were the electrical supplies and pumps.
Underground development is proceeding, two stopes (2-080 and 2-200) are
currently producing ore which is being stock piled while the mill completes
processing the remaining copper-silver-gold ore currently stockpiled from past
mining.
Both Stopes are producing good silver and gold grades as shown in the following
tables:
------------------------------------- ----------------------------------
Stope 2-080 Stope 2-200
------------------------------------- ----------------------------------
Line Width (m) Au (g/t) Ag (g/t) Line width Au (g/t) Ag (g/t)
------------------------------------- ----------------------------------
Lift 1-1 1.8 0.21 91.9 Line 1 3.1 1.07 445.67
------------------------------------- ----------------------------------
Lift 1-2 3.8 0.40 175.63 Line 2 2.95 0.61 227.52
------------------------------------- ----------------------------------
Lift 1-3 4.25 0.51 164.58 Line 3 2.5 1.33 278.09
------------------------------------- ----------------------------------
Lift 1-4 3.35 0.42 196.28 Line 4 2.3 0.77 349.55
------------------------------------- ----------------------------------
Lift 1-5 1.5 0.45 176.02 Line 5 2.35 0.42 93.77
------------------------------------- ----------------------------------
Lift 1-6 1.9 0.22 58.82
-------------------------------------
Lift 1-7 1.25 0.67 222.62
-------------------------------------
Lift 1-8 1.85 1.30 177.53
-------------------------------------
Lift 1-9 1.8 0.90 273.86
-------------------------------------
Lift 1-10 2.35 1.55 391.54
-------------------------------------
Lift 2-1 2.6 0.77 164.62
-------------------------------------
Lift 2-2 2 0.51 237.78
-------------------------------------
Lift 2-3 2.1 1.69 535.68
-------------------------------------
Lift 2-4 1.8 1.84 396.8
-------------------------------------
Lift 2-5 2.5 0.54 191.44
-------------------------------------
The stopes developed from level 2 are shown in a longitudinal section on the
Avino web site. The Assay results shownin the above tables are from channel
samples on lines across the San Gonzalo vein structure on the back (roof) of
each lift (or cut) in the respective stope. Samples were assayed by Inspectorate
labs in Reno, NV using standard procedures.
Avino Continues to drill regional exploration targets within the company's 100%
owned ground. To date, 41 drill holes covering 4,371 metres have been completed
on 7 different mineralized areas. Assays results are expected soon, delays have
been encountered at the lab due to the high volume of samples currently awaiting
analysis by Inspectorate Labs.
Founded in 1968, Avino has established a long record of mining, exploration and
production in Mexico. The Company's focus is to bring the property to production
again. Avino remains well funded.
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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