Avino Silver & Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE MKT:ASM)(FRANKFURT:GV6)
("Avino" or "the Company") today announced that it has now drifted along the San
Gonzalo vein for over 200 metres to the northwest and 240 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.
-- Silver & gold grades increase
-- Continuity of vein improves
"We are very pleased with the grade and continuity of the vein on level 5. We
look forward to processing this high grade material once it is mined. The San
Gonzalo vein continues to improve as we get deeper; we are excited to see if
this trend continues as we move on to level 6 and beyond."
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Avino has taken face samples to the North West and to the South East along the
vein. These samples are first 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 then sent for independent analysis at Inspectorate Labs in Reno, Nevada.
Avino has received further sample results from Inspectorate labs as shown in the
table below. These can be viewed on the level 5 sampling map on Avino's website:
http://www.avino.com/i/pdf/SamplingMap-L5_SGMine.pdf. Some of the earlier
sampled lengths have been recalculated and replace those shown in the Sept 16,
2013 news release. (assays have not changed). These are restated in the tables
below together with the more recent assays as follows:
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North West of Cross Cut (Poniente Pte)
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Sampled
Length
Along Gold Silver Pb Zn
Vein (m) Width (m) (g/t) (g/t) % %
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4.43
----------------------------------------------------------------------------
Vein Width (m) 1.30 1.411 111 0.86 0.76
----------------------------------------------------------------------------
Drift Width (m) 2.73 0.760 64 0.61 0.65
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16.82
----------------------------------------------------------------------------
Vein Width (m) 1.46 7.758 853 0.29 0.45
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Includes line 7 sample 169506 0.60 5.586 1,183 0.28 0.26
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
Drift Width (m) 2.14 5.341 588 0.24 0.39
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10.36
----------------------------------------------------------------------------
Vein Width (m) 1.01 1.678 207 0.44 0.59
----------------------------------------------------------------------------
Drift Width (m) 2.49 0.708 88 0.22 0.31
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9.03
----------------------------------------------------------------------------
Vein Width (m) 1.56 6.187 655 0.17 0.27
----------------------------------------------------------------------------
Includes line 52 sample 169649 0.90 4.968 1033 0.37 0.49
----------------------------------------------------------------------------
Includes line 25 sample 169855 0.65 8.798 1,096 0.10 0.19
----------------------------------------------------------------------------
Includes line 25 sample 169556 0.75 16.711 1724 0.25 0.38
----------------------------------------------------------------------------
Includes line 26 sample 169861 0.60 21.010 1,809 0.47 0.74
----------------------------------------------------------------------------
Includes line 28 sample 169868 0.60 12.89 1,162 0.16 0.34
----------------------------------------------------------------------------
Drift Width (m) 2.65 3.664 390 0.11 0.23
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7.48
----------------------------------------------------------------------------
Vein Width (m) 1.02 2.795 321 0.19 0.29
----------------------------------------------------------------------------
Includes line 32 sample 169909 0.65 14.225 1,273 0.14 0.50
----------------------------------------------------------------------------
Drift Width (m) 2.48 1.213 142 0.13 0.27
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8.96
----------------------------------------------------------------------------
Vein Width (m) 1.64 4.643 759 0.74 0.92
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Includes line 37 sample 169931 0.70 9.956 1,019 0.21 0.28
----------------------------------------------------------------------------
Includes line 39 sample 169938 0.50 5.845 1,887 3.40 3.50
----------------------------------------------------------------------------
Includes line 40 sample 169943 0.40 1.627 2,035 1.32 3.43
----------------------------------------------------------------------------
Drift Width (m) 2.26 3.414 565 0.60 0.88
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7.57
----------------------------------------------------------------------------
Vein Width (m) 2.05 27.18 2,470 0.64 0.49
----------------------------------------------------------------------------
Includes line 41 sample 169947 0.50 5.911 3,479 2.27 1.11
----------------------------------------------------------------------------
Includes line 41 sample 169950 0.60 42.815 3,383 2.53 1.94
----------------------------------------------------------------------------
Includes line 42 sample 169952 0.70 3.902 2,886 1.13 1.45
----------------------------------------------------------------------------
Includes line 42 sample 169954 0.60 47.401 4,468 0.30 0.38
----------------------------------------------------------------------------
Includes line 42 sample 169955 0.70 62.963 6,481 0.27 0.36
----------------------------------------------------------------------------
Includes line 43 sample 169956 0.60 4.042 1,442 2.10 0.72
----------------------------------------------------------------------------
Includes line 43 sample 169958 0.60 13.850 2,498 0.38 0.30
----------------------------------------------------------------------------
Includes line 43 sample 169959 0.40 204.168 10,968 0.64 0.28
----------------------------------------------------------------------------
Includes line 44 sample 169965 0.60 8.649 2,916 0.11 0.17
----------------------------------------------------------------------------
Includes line 44 sample 169966 0.65 87.053 2,915 0.36 0.14
----------------------------------------------------------------------------
Includes line 45 sample 169969 0.40 34.907 2,326 0.26 0.47
----------------------------------------------------------------------------
Drift Width (m) 2.40 23.26 2,118 0.55 0.45
----------------------------------------------------------------------------
11.91
----------------------------------------------------------------------------
Vein Width (m) 1.45 1.236 162 1.84 3.37
----------------------------------------------------------------------------
Drift Width (m) 2.38 1.214 227 0.69 1.18
----------------------------------------------------------------------------
9.8
----------------------------------------------------------------------------
Vein Width (m) 1.90 5.787 1,273 0.82 1.53
----------------------------------------------------------------------------
Includes line 58 sample 174556 0.40 72.920 11,537 3.51 4.94
----------------------------------------------------------------------------
Includes line 59 sample 174563 0.40 22.550 1,991 0.21 0.36
----------------------------------------------------------------------------
Drift Width (m) 2.43 4.555 999 0.65 1.22
----------------------------------------------------------------------------
12.7
----------------------------------------------------------------------------
Vein Width (m) 1.67 1.381 394 1.88 3.26
----------------------------------------------------------------------------
Drift Width (m) 2.61 0.937 259 1.34 2.30
----------------------------------------------------------------------------
6.94
----------------------------------------------------------------------------
Vein Width (m) 1.33 4.513 1,058 0.46 0.91
----------------------------------------------------------------------------
Drift Width (m) 2.33 2.605 610 0.39 0.80
----------------------------------------------------------------------------
17.06
----------------------------------------------------------------------------
Vein Width (m) 1.09 0.142 16 0.05 0.10
----------------------------------------------------------------------------
Drift Width (m) 2.30 0.078 10 0.03 0.08
----------------------------------------------------------------------------
123.06 Total Length (m)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
South East of Cross Cut (Oriente Ote)
----------------------------------------------------------------------------
Sampled
Length
Along Gold Silver Pb Zn
Vein (m) Width (m) (g/t) (g/t) % %
----------------------------------------------------------------------------
19.03
----------------------------------------------------------------------------
Vein Width (m) 2.28 3.683 823 1.33 2.09
----------------------------------------------------------------------------
Includes line 1 sample 169448 0.55 33.465 2,891 0.35 0.45
----------------------------------------------------------------------------
Includes line 2 sample 169455 0.60 12.219 1,323 0.18 0.37
----------------------------------------------------------------------------
Includes line 1 sample 169475 0.70 3.000 1,110 0.33 0.26
----------------------------------------------------------------------------
Includes line 1 sample 169478 0.50 2.573 3,453 6.75 6.74
----------------------------------------------------------------------------
Includes line 2 sample 169484 0.65 4.627 1,188 0.41 0.47
----------------------------------------------------------------------------
Includes line 2 sample 169485 0.40 9.022 3,393 1.18 1.81
----------------------------------------------------------------------------
Includes line 2 sample 169486 0.45 6.043 1,876 2.29 3.52
----------------------------------------------------------------------------
Includes line 4 sample 169552 0.70 3.756 2,418 2.16 3.85
----------------------------------------------------------------------------
Includes line 5 sample 169554 0.40 4.355 1,617 0.27 0.21
----------------------------------------------------------------------------
Includes line 6 sample 169558 0.40 4.062 2,583 0.40 0.28
----------------------------------------------------------------------------
Includes line 6 sample 169559 0.60 4.089 1,186 0.24 0.18
----------------------------------------------------------------------------
Includes line 9 sample 169571 0.35 1.614 1,554 0.64 0.93
----------------------------------------------------------------------------
Includes line 9 sample 169573 0.55 16.050 5,163 1.20 0.58
----------------------------------------------------------------------------
Drift Width (m) 3.19 2.672 598 1.01 1.58
----------------------------------------------------------------------------
8.12
----------------------------------------------------------------------------
Vein Width (m) 1.82 1.485 142 0.44 0.88
----------------------------------------------------------------------------
Drift Width (m) 2.69 1.042 102 0.31 0.63
----------------------------------------------------------------------------
9.90
----------------------------------------------------------------------------
Vein Width (m) 1.61 0.175 41 0.15 0.30
----------------------------------------------------------------------------
Drift Width (m) 2.55 0.172 31 0.11 0.25
----------------------------------------------------------------------------
5.14
----------------------------------------------------------------------------
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 2,364 0.40 0.57
----------------------------------------------------------------------------
Drift Width (m) 3.48 0.514 199 0.14 0.32
----------------------------------------------------------------------------
19.89
----------------------------------------------------------------------------
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 12.240 1,482 0.64 1.47
----------------------------------------------------------------------------
Includes line 32 sample 169742 0.50 4.973 1,431 0.41 1.41
----------------------------------------------------------------------------
Includes line 33 sample 169746 0.70 3.818 1,573 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 0.69
----------------------------------------------------------------------------
Includes line 37 sample 169768 0.50 7.290 1,110 0.37 0.88
----------------------------------------------------------------------------
Includes line 38 sample 169773 0.45 20.046 2846 0.45 0.71
----------------------------------------------------------------------------
Includes line 40 sample 169784 0.65 22.818 1,670 0.13 0.17
----------------------------------------------------------------------------
Includes line 40 sample 169785 0.60 4.421 1395 0.42 1.36
----------------------------------------------------------------------------
Drift Width (m) 2.78 2.802 467 0.24 0.48
----------------------------------------------------------------------------
4.24
----------------------------------------------------------------------------
Vein Width (m) 1.37 0.485 71 0.03 0.10
----------------------------------------------------------------------------
Drift Width (m) 2.97 0.315 52 0.04 0.12
----------------------------------------------------------------------------
14.3
----------------------------------------------------------------------------
Vein Width (m) 1.80 1.992 411 0.24 0.51
----------------------------------------------------------------------------
Includes line 48 sample 169829 0.55 5.043 1,582 0.96 1.18
----------------------------------------------------------------------------
Includes line 51 sample 169846 0.80 5.712 1,790 0.80 1.8
----------------------------------------------------------------------------
Drift Width (m) 2.81 1.321 269 0.17 0.35
----------------------------------------------------------------------------
12.72
----------------------------------------------------------------------------
Vein Width (m) 1.99 4.968 1,312 0.55 0.81
----------------------------------------------------------------------------
Includes line 54 sample 169884 0.60 13.035 3,848 1.70 2.24
----------------------------------------------------------------------------
Includes line 55 sample 169901 0.60 27.010 5,520 1.78 1.32
----------------------------------------------------------------------------
Includes line 55 sample 169902 0.65 14.390 2,741 0.83 0.86
----------------------------------------------------------------------------
Includes line 55 sample 169903 0.55 4.660 5,476 2.19 3.46
----------------------------------------------------------------------------
Includes line 56 sample 174516 0.40 8.353 1,930 1.55 0.91
----------------------------------------------------------------------------
Includes line 57 sample 174521 0.80 2.860 1,253 1.20 1.84
----------------------------------------------------------------------------
Includes line 58 sample 174524 0.40 6.459 1,613 0.64 1.34
----------------------------------------------------------------------------
Includes line 59 sample 174530 0.80 15.895 5,275 1.24 2.52
----------------------------------------------------------------------------
Includes line 61 sample 174539 0.90 13.353 2,577 1.08 1.02
----------------------------------------------------------------------------
Includes line 62 sample 174544 0.45 8.187 2,370 0.77 1.64
----------------------------------------------------------------------------
Drift Width (m) 2.58 3.868 1,022 0.44 0.66
----------------------------------------------------------------------------
4.83
----------------------------------------------------------------------------
Vein Width (m) 2.26 1.369 295 0.35 0.37
----------------------------------------------------------------------------
Drift Width (m) 2.73 1.149 248 0.29 0.32
----------------------------------------------------------------------------
98.17 Total Length (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/SamplingMap-L5_SGMine.pdf.
Individual samples that assayed above 1 kilogram silver per tonne are shown.
These high values have been re-assayed by Inspectorate Labs. Values shown are
averages.
In the July 2013 Technical Report on the Avino Property by Tetra Tech, assay
values used to calculate the resource at San Gonzalo were plotted on histograms
and capped at 6,000 g/t silver and 17 g/t gold. (Table 14.9 of report)
If in the future Avino recalculates the resource at San Gonzalo, high grade gold
and silver values will be capped using new histograms, however, we prefer to put
this material through our mill and sell the concentrate.
When the high grade material was first sampled on level 4 in April 2013, Avino
commissioned a petro graphic report which identified native silver and gold
electrum and high silver sulfo salts such as argentite. We are currently
investigating modifying our current mill circuit to recover these separately
from the concentrate. This could potentially allow us to produce dore bars on
site as well as concentrate.
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.
------------------------------------------------------------
Average Widths and Assay Values Over Total Length (221.23m)
Sampled on Level 5
------------------------------------------------------------
Width (m) Gold (g/t) Silver (g/t) Pb % Zn %
----------------------------------------------------------------------------
Vein 1.67 7.39 663 0.64 1.05
----------------------------------------------------------------------------
Drift 2.60 2.77 438 0.43 0.71
----------------------------------------------------------------------------
Avino is very fortunate that at San Gonzalo we can mine wider than the actual
vein without serious dilution of the grade.
----------------------------------------------------------------------------
Comparison of Vein Widths and Grade (Back Samples): 4th and 5th Levels
----------------------------------------------------------------------------
Width (m) Gold (g/t) Silver (g/t) Pb % Zn %
----------------------------------------------------------------------------
4th Level: 334.34m Sampled Length
----------------------------------------------------------------------------
1.72 2.05 440 0.64 1.16
----------------------------------------------------------------------------
5th Level: 221.23m Sampled Length
----------------------------------------------------------------------------
1.67 7.39 663 0.64 1.05
----------------------------------------------------------------------------
To date, drifting along the vein on level 5 has totaled 440 metres; however
results from sampling have only been received for 221.23 metres. To accurately
compare levels 4 and 5, sampling on level 5 must first be completed. Avino
anticipates that vein length will improve on level 5 since the operation is now
below the historic mine workings.
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., 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
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. Develop the Avino mine for mineral production;
3. Continue to review and develop plans to process the oxide tailings
resource from previous milling operations (PEA issued in 2012);
4. 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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