Avino Announces Results From Hanging-Wall Breccia Sampling Campaign

Dienstag, 23.07.2019 12:46 von PR Newswire - Aufrufe: 57

PR Newswire

VANCOUVER, July 23, 2019 /PRNewswire/ - Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American/GV6: FSE; "Avino" or "the Company") is pleased to announce the results from a sampling campaign comprising 52 recent and historic holes that were previously drilled in the hanging-wall of the Avino vein stockwork system located on the Avino property. The relogging and sampling by the mine geology team of intervals previously regarded as not of economic interest has revealed extensive Hanging-wall Breccia ("HWB") material with significant and consistent metal grades and wide vein widths. These results include significant intercepts such as:

  • ET-17-01 from 46.90 m to 47.65 m grading 2.18 g/t gold, 606 g/t silver and 0.35 % copper over a sampled length of 0.75 m;
  • ET-16-06 from 30.20 m to 31.70m grading 0.96 g/t gold, 312 g/t silver and 0.38 % copper over a sampled length of 1.50 m;
  • ET-17-13 from 23.40 m to 24.15 m grading 0.54 g/t gold, 290 g/t silver and 0.44% copper over a sampled length of 0.75 m.

These sampling results are encouraging as the material has the potential to add mineable tonnage to our portfolio at an opportune time. With the San Gonzalo mine nearing the end of its current economic life, the Company has been looking at all options to increase overall head grade, and the preliminary results of this campaign provide a major milestone to achieving that goal.

"The drill results from this sampling campaign are encouraging and indicate that our team in Mexico has once again successfully met the challenge to find higher grades and thick veins, both as replacement for the closure of San Gonzalo and potentially improve margins before the end of this year", said David Wolfin, President and CEO.

The additional sampling of the 52 drill holes are summarized as follows:

Table 1: Summary of Recent Sampling in the Hanging-wall of the Avino Vein       

Hole ID

Vein

From

To

Length
(m)

Au (g/t)

Ag
(g/t)

Cu (%)

BDVD 1

Hanging-wall Breccia

61.95

65.00

3.05

1.31

24

0.02

DDH 1-2200

Hanging-wall Breccia

132.40

136.70

4.30

1.47

71

0.49

DDH 2-2200

Hanging-wall Breccia

99.80

102.00

2.20

5.00

120

0.13

DDH 8-2200

Hanging-wall Breccia

100.00

116.00

16.00

2.06

67

0.69

DDH 8-2200

Including

100.00

105.00

5.00

0.85

103

1.40

DDH 8-2200

Including

110.00

116.00

6.00

2.68

46

0.46

ET-06-01

Hanging-wall Breccia

243.05

247.00

3.95

0.24

34

0.24

ET-06-02

Hanging-wall Breccia

212.35

215.30

2.95

1.50

31

0.47

ET-06-02

Including

213.30

213.90

0.60

1.31

26

0.94

ET-06-02

Including

213.90

214.55

0.65

0.67

35

0.92

ET-06-03

Hanging-wall Breccia

150.90

157.75

6.85

0.34

19

0.25

ET-06-03

Including

150.90

152.00

1.10

0.59

42

0.69

ET-06-04

Including

80.15

81.35

1.20

0.59

7

0.12

ET-07-01

Hanging-wall Breccia

185.00

187.20

2.20

0.15

35

0.08

ET-07-02

Hanging-wall Breccia

172.70

174.20

1.50

0.97

47

0.13

ET-07-03

Hanging-wall Breccia

116.25

118.15

1.90

0.24

116

0.36

ET-07-04

ArgAlt

73.80

75.05

1.25

3.27

10

0.11

ET-07-04

Hanging-wall Breccia

79.10

81.10

2.00

15.60

146

0.28

ET-07-05

Hanging-wall Breccia

87.50

94.45

6.95

0.02

5

0.05

ET-07-06

Hanging-wall Breccia

51.20

56.35

5.15

0.43

31

0.09

ET-07-07

Hanging-wall Breccia

2.00

16.10

14.10

0.12

10

0.07

ET-07-08

Hanging-wall Breccia

0.00

6.80

6.80

0.34

69

0.06

ET-08-02

Hanging-wall Breccia

72.20

74.40

2.20

0.96

102

0.07

ET-08-03

Hanging-wall Breccia

80.40

84.50

4.10

3.82

103

0.23

ET-08-04

Hanging-wall Breccia

4.30

5.60

1.30

0.19

10

0.02

ET-12-01

Hanging-wall Breccia

99.40

101.85

2.45

0.11

29

0.19

ET-12-02

Hanging-wall Breccia

79.85

81.70

1.85

0.06

9

0.12

ET-12-03

Hanging-wall Breccia

78.30

81.45

3.15

0.08

3

0.06

ET-12-04

Hanging-wall Breccia

57.25

60.90

3.65

0.49

52

0.29

ET-12-05

Hanging-wall Breccia

49.10

52.30

3.20

0.72

26

0.04

ET-12-06

Hanging-wall Breccia

37.70

43.15

5.45

1.26

133

0.07

ET-12-09

Hanging-wall Breccia

14.90

16.00

1.10

0.18

19

0.11

ET-16-01

Hanging-wall Breccia

4.05

7.70

3.65

1.03

102

0.16

ET-16-02

Hanging-wall Breccia

5.05

9.88

4.83

1.27

105

0.16

ET-16-03

Breccia

32.25

32.38

0.13

1.03

11

0.04

ET-16-03

Flt

55.84

62.45

6.61

0.12

77

0.12

ET-16-03

Hanging-wall Breccia

18.07

22.25

4.18

0.50

52

0.12

ET-16-04

Hanging-wall Breccia

38.20

43.05

4.85

0.38

37

0.13

ET-16-05

Hanging-wall Breccia

71.70

76.75

5.05

1.49

50

0.10

ET-16-06

Hanging-wall Breccia

28.80

38.30

9.50

1.82

119

0.50

ET-16-06

Including

28.80

29.20

0.40

0.75

114

3.50

ET-16-06

Including

30.20

31.70

1.50

0.96

312

0.38

ET-16-06

Including

31.70

32.60

0.90

0.71

72

2.18

ET-16-07

Hanging-wall Breccia

33.70

39.65

5.95

2.29

232

0.30

ET-16-07

Including

34.90

35.85

0.95

0.68

163

0.58

ET-16-08

Hanging-wall Breccia

30.25

40.80

10.55

0.48

31

0.17

ET-16-08

Narrow Vein

42.45

42.65

0.20

1.96

97

0.10

ET-16-09

Hanging-wall Breccia

62.45

67.35

4.90

5.36

26

0.07

ET-16-10

Hanging-wall Breccia

155.70

159.40

3.70

1.43

10

0.05

ET-16-11

Hanging-wall Breccia

152.47

160.90

8.43

2.16

21

0.15

ET-16-11

Including

159.20

160.30

1.10

4.04

43

0.31

ET-16-12

Hanging-wall Breccia

183.40

185.70

2.30

0.15

9

0.07

ET-16-12

Including

183.40

183.55

0.15

1.60

57

0.60

ET-17-01

Hanging-wall Vein

40.35

41.50

1.15

1.06

190

1.03

ET-17-01

Including

40.35

41.00

0.65

0.57

143

0.75

ET-17-01

Including

41.00

41.30

0.30

2.25

250

0.90

ET-17-01

Including

41.30

41.50

0.20

0.86

254

2.12

ET-17-01

Hanging-wall Breccia

66.00

68.65

2.65

1.13

76

0.20

ET-17-01

Narrow Vein

15.40

16.00

0.60

1.88

51

0.03

ET-17-01

Vuggy Quartz

45.60

48.95

3.35

0.64

215

0.39

ET-17-01

Including

46.90

47.65

0.75

2.18

606

0.35

ET-17-06

Hanging-wall Breccia

23.40

31.10

7.70

0.86

149

0.25

ET-17-07

Hanging-wall Breccia

24.75

30.05

5.30

0.92

177

0.14

ET-17-08

Hanging-wall Breccia

43.40

48.70

5.30

0.35

113

0.10

ET-17-09

Andesite & Narrow Vn

46.65

50.30

3.65

0.08

57

0.63

ET-17-09

Hanging-wall Breccia

42.85

46.35

3.50

0.68

56

0.04

ET-17-12

Hanging-wall Breccia

27.40

32.95

5.55

0.46

39

0.29

ET-17-13

Hanging-wall Breccia

22.50

28.50

6.00

1.76

120

0.41

ET-17-13

Including

22.50

23.40

0.90

0.72

116

1.25

ET-17-13

Including

23.40

24.15

0.75

0.54

290

0.44

ET-17-13

Including

24.15

24.90

0.75

1.82

28

0.42

ET-17-16

Hanging-wall Breccia

160.10

165.20

5.10

0.41

52

0.12

ET-17-17

Hanging-wall Breccia

156.35

158.50

2.15

0.17

19

0.05

ET-17-18

Hanging-wall Breccia

172.40

175.10

2.70

0.72

24

0.11

ET-17-18

Including

172.40

172.95

0.55

0.74

68

0.39

ET-17-19

Hanging-wall Breccia

163.70

167.20

3.50

0.35

14

0.09

ET-17-19

Narrow Vein

69.80

70.00

0.20

1.16

45

0.13

ET-17-19

Narrow Vein

85.55

85.80

0.25

0.20

110

4.01

ET-17-19

Narrow Vein

140.65

141.30

0.65

5.64

26

0.09

ET-17-20

Hanging-wall Breccia

67.20

70.05

2.85

0.90

14

0.04

ET-17-21

Hanging-wall Breccia

68.40

76.80

8.40

0.83

27

0.19

ET-17-22

Hanging-wall Breccia

177.15

180.30

3.15

1.71

10

0.06

True Widths cannot be determined with the information available

 

The significance of these results is best explained graphically in Figures 1 (an inclined oblique view) and 2 (a vertical projection).

In Figure 1, The previous interpreted extent of the HWB is shown in blue while the sampled HWB intervals referred to in Table 1 are shown in red.  The HWB trends eastwards and diverges away from the main Avino vein system (mine workings shown in grey).

In Figure 2, the previously limited extent of the HWB is being interpreted to extended towards the east and to depth (340 m from surface).  Sampling coverage within the previous interpreted extent of the HWB may increase confidence in a future resource estimate. The HWB material has not yet been exploited and is close to the existing development levels 6 and 9 where services such as  compressed air, water and electricity can be accessed swiftly if mineability is confirmed.  At the time of the drilling, the main Avino vein structure was the target and the potential of the HWB was unknown, therefore the spacing in the vein intercepts which were recently sampled was is 30 to 70 metres apart.

About the Avino Vein System

The Avino vein is 1.6 kilometers  long and 60 metres wide on the surface and has been followed longitudinally for more than 1,300 metres and vertically for more than 600 metres. It strikes north 66° east with an east-west splay, and dips to the south and southeast at 60° to 70°. Steeply dipping, high grade zones within the vein and stock-work and breccia zones are frequently found in the upper part of the vein, as well as at its intersections with several lateral veins. The HWB and associated units which are the subject of this discussion, intersect the Avino vein in the southwest of the ET Mine but strike west east and progressively diverge from the Avino vein. At the easternmost explored extent (Hole ET-12-09), the HWB is 240 m in the Hanging-wall of the Avino vein.

The hanging wall of the Avino Vein is andesite, while the footwall is a monzonite intrusive with andesite sections.

Avino Property Exploration Potential

The Company is optimistic regarding the unexplored potential across the Avino Property which hosts dozens of historic shallow artisanal mines.  Regionally, the Avino concession is situated within a 12 kilometre north-south by 8.5 kilometre caldera, which hosts numerous low sulphidation epithermal veins, breccias, stockwork and silicified zones. These zones grade into a "near porphyry" environment, particularly in the Avino Mine area.

Sampling and Assay Methods

Following detailed geological and geotechnical logging, drill core samples are sawed in half. One half of the core is submitted to SGS Laboratory facility in Durango, Mexico, and the other half is retained on-site for verification and reference. Gold is assayed by fire assay with an AA finish. Any samples exceeding 3.0 grams/tonne gold are re-assayed and followed by a gravimetric finish. Multi-element analyses are also completed for each sample by SGS ICP14B methods. Any copper values exceeding 10,000 ppm (1%) are-assayed using ICP 90Q. Silver is fire assayed with a gravimetric finish for samples assaying over 100 grams/tonne.

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.

Qualified Person(s)

Information in this press release has been reviewed and approved by Michael O'Brien, P.Geo., Director and Principal Consultant, Red Pennant Geoscience, who is an "independent qualified person", as defined by Section 1.5 of National Instrument 43-101.

About Avino

Avino is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in Mexico and Canada employing approximately 350 people. Avino produces from its wholly owned Avino Mine near Durango, Mexico, and is currently evaluating the potential economics of possible future production at the Bralorne Gold Mine in British Columbia, Canada. The Company's gold and silver production remains unhedged. The Company's mission and strategy is to create shareholder value through its focus on profitable organic growth at the historic Avino Property near Durango, Mexico, and the strategic acquisition of mineral exploration and mining properties. We are committed to managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which we operate.

ON BEHALF OF THE BOARD

"David Wolfin"

________________________________
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 Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, including, but are not limited to, the Company's ability to meet its production guidance, expectations of All-In Sustaining Cash Cost ("AISC"), information on the updated mineral resource estimate for the Company's Avino Property located near Durango in west-central Mexico (the "Property") with an effective date of February 21, 2018, and amended on December 19, 2018, prepared for the Company, and reference to Measured, Indicated, Inferred Resources referred to in this press release. 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. No assurance can be given that the Company's Property does not have the amount of the mineral resources indicated in the updated report or that such mineral resources may be economically extracted.

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 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 Regarding Non-GAAP Measures

This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including silver equivalent ounces (AgEq oz) of production. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures reported by other companies. We believe that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate our performance. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Readers should also refer to our management's discussion and analysis available under our corporate profile at www.sedar.com or on our website at www.avino.com.

 

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SOURCE Avino Silver & Gold Mines Ltd.

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