Avino Provides Update on San Gonzalo Mine Level 6 Underground Development Results and 2014 Drill Program
June 05 2014 - 8:00AM
Marketwired Canada
Avino Silver & Gold Mines Ltd. ("Avino" or "the Company") (TSX VENTURE:ASM)(NYSE
MKT:ASM)(FRANKFURT:GV6) today announces further results from development of the
sixth level of the San Gonzalo Mine and start of the 2014 drill program on the
Avino property, located 80km northeast of Durango, Mexico.
"Management is pleased with the consistency level 6 is delivering and is excited
to report that a new mineralized zone has been discovered to the east on Level 5
extending the strike length. The San Gonzalo mine continues to deliver good
results, and ongoing underground drilling continues to intersect favorable
alteration and mineralization. Our exploration team should be commended for
these encouraging results."
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
San Gonzalo Mine Level 6 Development Results
Development of level 6 of the San Gonzalo Mine has been ongoing since the
beginning of the year. Drifting to date has totaled 156 metres to the northwest
and 183 metres southeast of the main crosscut across from the ramp on level 6.
Avino takes face samples to the Northwest and to the Southeast along the vein.
These samples are assayed in Avino's own lab as the drift advances. Before
planning stopes between levels 5 and 6, Avino samples the back (roof) of the
vein. These samples are delivered to Inspectorate Labs in Durango, Mexico for
independent assay.
Inspectorate Labs are part of the Bureau Veritas Group. Samples are prepped
(crushed and ground into pulps) then air freighted to the Bureau Veritas
facility in Sparks, Nevada, where they are assayed by techniques described
below.
Results to date from the back-sampling program are as follows:
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Northwest of Crosscut (Poniente Pte)
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Sampled Length Along Width Gold Silver Pb Zn
Vein (m) Vein / Drift (m) (g/t) (g/t) % %
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11.38 Vein 1.78 1.451 134 0.51 0.80
----------------------------------------------------
Drift 2.78 1.004 98 0.40 0.62
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5.89 Vein 1.95 2.339 611 2.22 4.07
----------------------------------------------------
Drift 2.56 1.815 472 1.92 3.52
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3.58 Vein 1.58 0.791 176 2.55 4.05
----------------------------------------------------
Drift 2.51 0.541 123 1.95 3.16
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17.91 Vein 1.79 3.224 485 1.22 1.88
----------------------------------------------------
Drift 2.39 2.444 370 1.02 1.53
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3.36 Vein 2.05 1.272 197 0.37 0.36
----------------------------------------------------
Drift 2.70 0.979 154 0.33 0.31
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16.36 Vein 2.01 3.620 677 0.27 0.34
----------------------------------------------------
Drift 3.01 2.468 462 0.23 0.27
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11.16 Vein 1.43 0.300 33 0.06 0.16
----------------------------------------------------
Drift 2.43 0.203 25 0.06 0.15
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7.29 Vein 1.68 0.425 192 1.49 1.69
----------------------------------------------------
Drift 3.03 0.395 121 0.91 1.12
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6.44 Vein 1.23 0.437 83 1.75 3.57
----------------------------------------------------
Drift 3.31 0.272 59 1.17 2.32
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25.99 Vein 2.11 2.471 328 2.86 6.20
----------------------------------------------------
Drift 3.41 1.566 212 1.92 4.00
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10.54 Vein 1.41 1.668 156 0.66 1.13
----------------------------------------------------
Drift 2.59 0.988 97 0.48 0.84
----------------------------------------------------------------------------
5.41 Vein 2.29 2.021 304 1.32 1.82
----------------------------------------------------
Drift 3.15 1.495 232 1.05 1.36
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4.26 Vein 2.25 1.402 172 0.59 1.44
----------------------------------------------------
Drift 2.93 1.121 138 0.47 1.14
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13.4 Vein 1.57 9.996 757 0.39 0.87
----------------------------------------------------
Drift 2.59 6.130 468 0.25 0.55
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5.21 Vein 1.13 0.448 66 0.10 0.22
----------------------------------------------------
Drift 2.02 0.270 39 0.07 0.45
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Total: 148.18
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Southeast of Crosscut (Oriente Ote)
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Sampled Length Along Width Gold Silver
Vein (m) Vein / Drift (m) (g/t) (g/t) Pb % Zn %
----------------------------------------------------------------------------
8.44 Vein 2.53 1.711 121 0.55 1.05
----------------------------------------------------
Drift 3.90 1.231 87 0.40 0.72
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4.41 Vein 1.55 0.934 70 0.30 0.63
----------------------------------------------------
Drift 2.90 0.717 54 0.25 0.50
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18.25 Vein 2.05 4.309 460 0.98 1.56
----------------------------------------------------
Drift 2.72 3.358 354 0.80 1.22
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6.53 Vein 1.94 2.291 208 0.72 0.94
----------------------------------------------------
Drift 2.38 1.905 177 0.62 0.84
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16.11 Vein 2.90 3.538 599 0.78 1.14
----------------------------------------------------
Drift 3.62 2.862 483 0.65 0.95
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17.49 Vein 2.27 3.151 586 0.34 0.54
----------------------------------------------------
Drift 2.86 2.552 471 0.28 0.46
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2.55 Vein 1.83 0.357 111 0.14 0.34
----------------------------------------------------
Drift 2.38 0.315 88 0.11 0.27
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8.87 Vein 1.43 2.500 749 0.38 0.91
----------------------------------------------------
Drift 2.54 1.440 437 0.22 0.56
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7.17 Vein 1.30 0.464 78 0.07 0.17
----------------------------------------------------
Drift 2.31 0.291 54 0.05 0.13
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4.34 Vein 1.98 3.829 906 0.92 0.76
----------------------------------------------------
Drift 2.68 2.886 681 0.69 0.62
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9.36 Vein 1.49 2.861 341 0.25 0.48
----------------------------------------------------
Drift 2.29 1.937 227 0.17 0.35
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5.05 Vein 1.49 14.135 1636 0.85 0.79
----------------------------------------------------
Drift 2.53 10.089 1171 0.61 0.59
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13.54 Vein 1.45 3.106 333 0.28 0.50
----------------------------------------------------
Drift 3.75 6.029 583 0.53 0.99
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27.16 Vein 1.38 1.190 176 0.10 0.23
----------------------------------------------------
Drift 2.58 0.693 103 0.07 0.17
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38.36 Vein 1.32 1.121 177 0.10 0.21
----------------------------------------------------
Drift 2.43 0.661 105 0.06 0.17
----------------------------------------------------------------------------
17.74 Vein 1.22 0.236 36 0.04 0.16
----------------------------------------------------
Drift 2.28 0.171 26 0.03 0.12
----------------------------------------------------------------------------
Total: 178.21
Sampling lengths along the vein are continuous as shown on the sample plan map
available on Avino's website.
The San Gonzalo vein contains the highest gold and silver values; however, 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 San Gonzalo vein; thus, we can plan mining over wider widths, providing
more tonnage and wider stopes, which permit efficient operation using shrinkage
methods whilst providing feed grade to our mill well above cut-off.
Avino is fortunate to be able to mine wider than the actual San Gonzalo vein
without serious grade dilution.
Avino has also discovered a new mineralized zone at the southeast end of level
5. Sampling and assaying by Avino's own lab have shown a length along the vein
of 69 metres with and an average vein width of 2.31 metres and a drift width of
2.95 metres carrying gold, silver, lead and zinc values. Independent assays from
Inspectorate Labs are expected in 2 weeks.
2014 Drill Program
A 70 metre cross cut on level 6 was completed and the underground drill program
started on May 1st. At the time of this release, 2 holes, SG-14-01 & 02, had
been completed; assay results are pending. Permits for surface drilling have now
been received and drilling will start in June. Avino intends to run both
underground and surface drilling concurrently. There will be 14 holes from
surface totalling 3785 metres and 8 underground holes totalling 940 metres as
shown on the long section on Avino's website.
Assay Methods
Samples from level 5 and 6 underground channel sampling of the San Gonzalo vein
and drill holes SG-14-01 & 02 were 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 pulp assayed in Reno,
Nevada using fire assay and AA finish for gold, four-acid digestion and AA for
most silver or 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 6 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 but are not responsible for
other info.
About Avino
Avino is a silver and gold producer operating the Avino property located in
Durango, Mexico. The Company's mission is to become the next mid-tier silver
producer 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.
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
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prepared, the statements are not a guarantee that such future events will occur
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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
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financing; operational risks associated with mining and mineral processing;
fluctuations in metal prices; title matters; uncertainties and risks related to
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to be as anticipated, estimated or intended. There can be no assurance that
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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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