Avino Silver and Gold Mines Ltd. : San Gonzalo Update
September 16 2013 - 8:00AM
Marketwired Canada
Avino Silver and Gold Mines Ltd. ("Avino" or "the Company") (TSX VENTURE:ASM)
(NYSE MKT:ASM) (FRANKFURT:GV6) today announced that it has now drifted along the
San Gonzalo vein for over 200 metres to the northwest and 220 metres southeast
of the main crosscut across from the ramp on level 5. The San Gonzalo Mine is
located on the Avino property 80 km North East of Durango, Mexico.
Avino has taken face samples over 75 metres to the NW and 86 metres to the
Southeast along the vein. These samples are assayed in Avino's own lab and
provide a quick and inexpensive guide to vein width, grade and continuity.
Before planning stopes between levels 4 and 5, Avino samples the back (roof) of
the vein. These samples are sent for independent analysis at Inspectorate Labs
in Reno, Nevada.
The first sets of sample results from Inspectorate labs have been received as
shown in the table below and can be viewed on the level 5 sampling map on
Avino's website (http://www.avino.com/i/pdf/Level5Samples.pdf):
----------------------------------------------------------------------------
North West of Cross Cut
----------------------------------------------------------------------------
Sampled Length Silver
Along Vein (m) Width (m) Gold (g/t) (g/t) Pb % Zn %
----------------------------------------------------------------------------
4.43
----------------------------------------------------------------------------
Vein
Width (m) 1.30 1.411 111 0.86 0.76
----------------------------------------------------------------------------
Mined
Width (m) 2.73 0.760 64 0.61 0.65
----------------------------------------------------------------------------
16.82
----------------------------------------------------------------------------
Vein
Width (m) 1.46 7.758 853 0.29 0.45
----------------------------------------------------------------------------
Includes
line 6
sample
169502 0.60 3.435 980 0.30 0.33
----------------------------------------------------------------------------
Includes
line 7
sample
169506 0.60 5.586 1,183 0.28 0.26
----------------------------------------------------------------------------
Includes
line 9
sample
169513 0.55 2.489 886 0.27 0.46
----------------------------------------------------------------------------
Includes
line 10
sample
169517 0.65 11.695 1,236 0.09 0.35
----------------------------------------------------------------------------
Includes
line 11
sample
169522 0.80 31.844 2,424 0.19 0.53
----------------------------------------------------------------------------
Includes
line 11
sample
169524 0.40 14.820 1,120 0.11 0.30
----------------------------------------------------------------------------
Includes
line 12
sample
169529 0.45 32.656 2,619 1.59 1.06
----------------------------------------------------------------------------
Includes
line 13
sample
169533 0.50 14.017 1,288 0.31 0.63
----------------------------------------------------------------------------
Includes
line 14
sample
169538 0.60 43.706 4,698 0.52 0.92
----------------------------------------------------------------------------
Includes
line 15
sample
169542 0.60 6.328 986 0.43 0.90
----------------------------------------------------------------------------
Mined
Width (m) 2.14 5.341 588 0.24 0.39
----------------------------------------------------------------------------
----------------------------------------------------------------------------
North West of Cross Cut
----------------------------------------------------------------------------
Sampled Length Silver
Along Vein (m) Width (m) Gold (g/t) (g/t) Pb % Zn %
----------------------------------------------------------------------------
10.36
----------------------------------------------------------------------------
Vein
Width (m) 1.01 1.678 207 0.44 0.59
----------------------------------------------------------------------------
Mined
Width (m) 2.49 0.708 88 0.22 0.31
----------------------------------------------------------------------------
9.03
----------------------------------------------------------------------------
Vein
Width (m) 1.56 6.187 655 0.17 0.27
----------------------------------------------------------------------------
Mined
Width (m) 2.65 3.664 390 0.11 0.23
----------------------------------------------------------------------------
Total
Length 40.64 m
----------------------------------------------------------------------------
----------------------------------------------------------------------------
South East of Cross Cut
----------------------------------------------------------------------------
Sampled
LengthAlong Vein Silver
(m) Width (m) Gold (g/t) (g/t) Pb % Zn %
----------------------------------------------------------------------------
19.16
----------------------------------------------------------------------------
Vein
Width (m) 2.28 3.683 823 1.33 2.09
----------------------------------------------------------------------------
Includes
Line 1
sample
169448 0.55 33.465 2,890 0.35 0.45
----------------------------------------------------------------------------
Includes
line 2
sample
169455 0.60 12.219 1,323 0.18 0.37
----------------------------------------------------------------------------
Includes
line 4
sample
169552 0.70 3.756 2,419 2.16 3.85
----------------------------------------------------------------------------
Includes
line 5
sample
169475 0.70 3.000 1,110 0.33 0.26
----------------------------------------------------------------------------
Includes
line 5
sample
169478 0.50 2.573 3,453 6.75 6.74
----------------------------------------------------------------------------
Includes
line 5
sample
169484 0.65 4.627 1,188 0.40 0.47
----------------------------------------------------------------------------
Includes
line 5
sample
169485 0.40 9.022 3,393 1.18 1.81
----------------------------------------------------------------------------
Includes
line 5
sample
169486 0.45 6.043 1,876 2.29 3.52
----------------------------------------------------------------------------
Includes
line 5
sample
169554 0.40 4.355 1,617 0.27 0.21
----------------------------------------------------------------------------
Includes
line 6
sample
169558 0.40 4.062 2,582 0.40 0.28
----------------------------------------------------------------------------
Includes
line 6
sample
169559 0.60 4.089 1,186 0.24 0.18
----------------------------------------------------------------------------
Includes
line 7
sample
169564 0.50 2.787 810 0.27 0.33
----------------------------------------------------------------------------
Includes
line 9
sample
169571 0.35 1.614 1,554 0.64 0.93
----------------------------------------------------------------------------
Mined
Width (m) 3.19 2.672 598 1.01 1.58
----------------------------------------------------------------------------
7.67
----------------------------------------------------------------------------
Vein
Width (m) 1.82 1.485 142 0.44 0.88
----------------------------------------------------------------------------
Mined
Width (m) 2.69 1.042 102 0.31 0.63
----------------------------------------------------------------------------
10.29
----------------------------------------------------------------------------
Vein
Width (m) 1.61 0.175 41 0.15 0.30
----------------------------------------------------------------------------
Mined
Width (m) 2.55 0.172 31 0.11 0.25
----------------------------------------------------------------------------
5.65
----------------------------------------------------------------------------
Vein
Width (m) 1.26 0.957 494 0.19 0.38
----------------------------------------------------------------------------
Includes
line 26
sample
169702 0.60 3.388 2,116 0.77 1.21
----------------------------------------------------------------------------
Includes
line 27
sample
169710 0.30 1.731 2,365 0.40 0.57
----------------------------------------------------------------------------
Mined
Width (m) 3.48 0.514 199 0.14 0.32
----------------------------------------------------------------------------
----------------------------------------------------------------------------
South East of Cross Cut (old shaft)
----------------------------------------------------------------------------
Sampled Length Silver
Along Vein (m) Width (m) Gold (g/t) (g/t) Pb % Zn %
----------------------------------------------------------------------------
20.39
----------------------------------------------------------------------------
Vein
Width (m) 2.14 3.608 599 0.28 0.56
----------------------------------------------------------------------------
Includes
line 29
sample
169726 0.75 1.960 1,495 0.48 0.95
----------------------------------------------------------------------------
Includes
line 30
sample
169733 0.60 12.241 1,482 0.64 1.47
----------------------------------------------------------------------------
Includes
line 31
sample
169736 0.50 4.497 870 0.39 0.64
----------------------------------------------------------------------------
Includes
line 32
sample
169742 0.50 4.973 1,431 0.41 1.41
----------------------------------------------------------------------------
Includes
line 33
sample
169746 0.70 3.818 1,574 0.26 0.50
----------------------------------------------------------------------------
Includes
line 35
sample
169757 0.50 12.941 2,294 0.59 2.10
----------------------------------------------------------------------------
Includes
line 36
sample
169764 0.65 14.439 2,174 0.40 0.76
----------------------------------------------------------------------------
Includes
line 37
sample
169768 0.50 7.290 1,101 0.37 0.88
----------------------------------------------------------------------------
Includes
line 38
sample
169773 0.45 20.046 2,846 0.45 0.71
----------------------------------------------------------------------------
Includes
line 38
sample
169774 0.65 4.271 949 0.74 1.58
----------------------------------------------------------------------------
Includes
line 40
sample
169784 0.65 22.818 1,670 0.13 0.17
----------------------------------------------------------------------------
Includes
line 40
sample
169785 4.421 1,395 0.42 1.36
----------------------------------------------------------------------------
Mined
Width (m) 2.78 2.802 467 0.24 0.48
----------------------------------------------------------------------------
3.72
----------------------------------------------------------------------------
Vein
Width (m) 1.37 0.485 71 0.03 0.10
----------------------------------------------------------------------------
Mined
Width (m) 2.97 0.315 52 0.04 0.12
----------------------------------------------------------------------------
16.27
----------------------------------------------------------------------------
Vein
Width (m) 1.82 2.443 535 0.29 0.56
----------------------------------------------------------------------------
Mined
Width (m) 2.88 1.586 345 0.20 0.38
----------------------------------------------------------------------------
Total
Length 83.15 m
----------------------------------------------------------------------------
Sampling lengths along the vein are continuous as shown on the sample plan map
available on Avino's website (http://www.avino.com/i/pdf/Level5Samples.pdf).
The San Gonzalo vein usually contains the highest gold and silver values but we
drift wider along the vein and sample the country rock on both sides of the
vein. The wall rocks usually contain metal values which decrease with distance
from the SG vein. Thus we can plan mining over wider widths which provides more
tonnage and wider stopes permitting easier operation using shrinkage methods yet
still provides feed grade to our mill well above cut-off.
Avino is very fortunate that at San Gonzalo we can mine wider than the actual
vein without serious dilution of the grade.
"We are very pleased to see that the vein retains the same width, high grades
and continuity as we develop level 5. These sampling results are consistent with
our expectations stemming from the July 2013 Technical Report on the Avino
Property by Tetra Tech"
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Assay Methods
Samples from level 5 underground channel sampling of the San Gonzalo vein are
shipped to Inspectorate Labs for analysis for gold, silver, arsenic, bismuth,
copper, molybdenum, lead, antimony, zinc, and mercury. Samples are crushed and
ground in Durango with pulps assayed in Reno, Nevada using fire assay and AA
finish for gold, four acid digestion and AA for most silver with fire assay and
gravimetric finish for very high silver, and aqua regia digestion and ICP-MS for
base metals. Inspectorate Labs in Nevada and British Columbia are ISO 9001:2008
certified, full service laboratories that are independent of Avino. Sample QA/QC
procedures are as described in Section 11.5 of the July 2013 Technical Report on
the Avino Property by Tetra Tech. 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 from level 5 sampling at San
Gonzalo.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson, P.Eng, BSc, ARSM
Avino Consultant 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
TSX Venture Exchange - Tier One Listing
In accordance with Policy 2.5, the Company has met the requirements for a Tier 1
company. Therefore, effective at market open, Friday, September 13, 2013, the
Company's Tier classification changed from Tier 2 to: Classification Tier 1 -
Mining Issuer
About Avino
Avino's mission is to create shareholder value through profitable organic growth
at the Avino property. We are committed to managing all business activities in
an environmentally responsible and cost-effective manner while contributing to
the well-being of the community in which we operate.
Management remains focused on the following key objectives:
1. Maintain profitable mining operations at San Gonzalo while decreasing
operating costs and improving efficiency;
2. Increase mill throughput using the new circuit ("Circuit 2") that went
online in April 2013;
3. Develop the Avino mine for commercial production commencing in 2014;
4. Continue to review and develop plans to process the oxide tailings
resource from previous milling operations (PEA issued in 2012);
5. Continue to explore regional targets on the property and consider
acquisition opportunities.
ON BEHALF OF THE BOARD
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
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 extent
and timing of various studies including the PEA, and exploration results, the
potential tonnage, grades and content of deposits, timing and establishment and
extent of resources estimates. 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, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avino Silver & Gold Mines Ltd.
David Wolfin
President & CEO
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com
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