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AVINO SAMPLES 14,768 G/T AG OVER 0.4
M AT SAN GONZALO MINE
Avino Silver and Gold Mines Ltd. (ASM:
TSX.V, ASM:
NYSE
- MKT; “Avino” or “the Company”) is pleased to provide the following update of activities at its San
Gonzalo Mine 80 km North East of
Durango, Mexico.
San Gonzalo Development
Underground mining development is
ongoing. The decline from level 4
to level 5 has advanced 170 metres
to date, and a total of 200 metres
remain until the level 5 elevation
of 2130 metres is reached.
The 4th level at 2175
metres elevation connects with the
bottom of the old San Gonzalo
workings. The level has intersected
the bottom of the main shaft from
the original mining which ceased
with the revolution in the early 20th
century.
Avino has been drifting (mining)
along the San Gonzalo vein on the 4th
level. Currently we have explored
150 m to the north west of the old
shaft and 170 m to the South East.
To view a map of the progress with
assay results
please click here
or visit Avino’s website.
The 4th level is the last
level where old workings had removed
some of the deposit. The 5th
level which we expect to reach
before year-end will be all new
development.
Drifting along the San Gonzalo vein
on level 4 South East is ongoing.
Avino staff channel sample the face
after each round. These samples are
analyzed for silver, gold, copper,
lead and zinc by fire assay and AA
methods at the company’s own lab at
the mine, providing a quick estimate
of vein width, and grade. Channel
samples are then taken from the back
and sent for assay by Inspectorate
Labs for public release in
compliance with NI 43-101 (Refer to
assay methods in QA/QC section
below). The lengths sampled to date
are as follows:
|
North West of Cross Cut (old
shaft) |
|
Length along Vein (m) |
Average Width (m) |
Silver (g/t) |
Gold (g/t) |
Copper (ppm) |
Lead (ppm) |
Zinc (ppm) |
|
38.78 |
1.65 |
387 |
1.60 |
610 |
5,790 |
9,270 |
|
55.61 |
2.15 |
654 |
2.40 |
890 |
13,580 |
24,610 |
|
Includes: |
|
10.18 |
2.22 |
1,380 |
3.24 |
1180 |
9420 |
21120 |
|
Includes sample 166893 on
sample line L64 – the
highest grade Avino has
sampled in 6 years at SG |
|
|
0.40 |
14,768 |
14.57 |
12,300 |
39,100 |
39,000 |
|
6.27 |
1.90 |
243 |
1.80 |
510 |
3,490 |
6,830 |
|
10.54 |
1.47 |
45 |
0.23 |
180 |
2,280 |
5,160 |
|
South East of Cross Cut (Old
Shaft) |
|
Length along Vein (m) |
Average Width (m) |
Silver (g/t) |
Gold (g/t) |
Copper (ppm) |
Lead (ppm) |
Zinc (ppm) |
|
39.33 |
1.79 |
429 |
1.98 |
630 |
4,950 |
8,980 |
Many of the samples taken produced
silver assays results greater than
1,000 g/t confirming earlier drill
results which indicated the deposit
is significantly higher grade at
depth , than at level 2 where the
10,000 tonne bulk sample test was
drawn from in 2010. For a
comprehensive list of sample assays
on level 4
please click here
or visit Avino’s website.
Avino’s president, Mr. David Wolfin
stated the following: “We are very
pleased to see the grades improving
substantially as we get deeper into
the mine as we expected. This,
along with significantly better
recoveries that were independently
verified from the lower levels of
the mine should significantly
improve our production output in the
coming months and years”
The vein on level 4 North West of
the old shaft has increased in width
to 3 metres. Avino will be able to
use the “Cut & Fill” mining
technique allowing Avino to develop
mill feed faster and more cost
effectively than “Shrinkage
Stopping”.
Total stockpile tonnage from San
Gonzalo to date is 22,688 tonnes and
consists of development and
mineralized material from levels 2,
3 and 4 and the draw down from stope
3-200.
QA/QP
Assays of the channel samples were
analyzed at Inspectorate labs in
Reno, Nevada. Gold analyses were by
30-gram fire assay with an atomic
absorption finish. Gold
“overlimits” were re-analyzed with
30g fire assay with a gravimetric
finish. Silver, copper, zinc and
lead are analyzed as part of a
multi-element inductively coupled
argon plasma ("ICP") package using a
four-acid digestion with over-limit
results for silver and gold being
reanalyzed with assay procedures
using fire assay and gravimetric.
Avino's projects are under the
supervision of Chris Sampson, P.Eng,
BSc, ARSM Avino Consultant and Mr.
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
Founded in 1968, Avino's mission is
to create shareholder value through
profitable organic growth at the
historic Avino property near
Durango, Mexico. 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.
Our primary goal is to become a
significant low cost primary silver
producer. Our specific objectives
are to achieve full time commercial
production as soon as possible,
expand resources, reserves and the
mines output as well as to identify,
explore and develop new targets on
the property.
On Behalf of the Board
“David Wolfin”
________________________________
David Wolfin
President & CEO
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.