Avino Samples 2.10M of 536 g/t Ag, 1.692 g/t Au at San Gonzalo
May 03 2011 - 9:00AM
Marketwired
Avino Silver and Gold Mines Ltd. (TSX VENTURE: ASM)(OTCBB:
ASGMF)(BERLIN: GV6)(FRANKFURT: GV6) (Avino) provides the following
update on progress at the San Gonzalo and Guadalupe deposits at the
Avino property, located 82 Km North East of Durango, Mexico.
As expected (please see April 6, 2011 News Release), milling of
the 10,000 tonne San Gonzalo bulk sample was completed April 2.
Avino is now evaluating results of the bulk sampling program;
Wardrop, A Tetra Tech Company (Wardrop) will review these results
and make proposals for entering commercial production. As released
April 6, two hundred tonnes of bulk concentrate from the bulk
sample have been shipped to MRI. A further approximate 4,000 tonnes
have been mined from San Gonzalo; milling of which should be
completed by May 7. At present, approximately 270 tonnes of
concentrate is stockpiled. Once milling of the current San Gonzalo
ore is completed, the mill will process 17,000 tonnes of stockpiled
copper, gold and silver ore from the main Avino vein.
Wardrop mining engineers visited San Gonzalo underground
workings in late March. Wardrop has recommended development by a
12% ramp (decline) in the foot wall approximately 40m from and
parallel with the San Gonzalo vein. The vein can then be drilled in
detail by close spaced underground drilling from cross cuts off the
ramp. This will permit stope design. Wardrop's engineers feel that
the planned production of 250 tonnes per day is achievable and
requires three active stopes at all times.
In order to provide electricity for underground drilling and
improve ventilation, Avino has decided to build the approximately
2Km of power line required from the mill to San Gonzalo. In the
interim, electric power will be obtained from rented Gen Sets.
Continuous progress of Avino's regional drilling program has
been achieved. The initial 11 holes were drilled at the South East
end of San Gonzalo to guide in planning a new stope, 2-200, which
is now being developed to the east of stope 2-140 between the 2260m
and 2306m levels (for results of initial holes SG-11-01,02,03
please see February 18, 2011 News Release). Some of the recent
holes were located to define the South eastern end of the vein
system and intersected narrow or low values. Those with better
grade intersections, and the 7 holes drilled in 2008, will be
incorporated into a new block model and resource estimate that
Wardrop will create for the San Gonzalo deposit.
Mining of the new stope has progressed rapidly and two sets of
back (ie roof) sample results have been received from Inspectorate
Labs. Location of these sample sets can be seen in a long section
on Avino's website.
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Assay Values (ppm)
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Width Gold Silver Lead Zinc Copper
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Line 2 1.15 0.977 423 1137 3928 509
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Line 3 1.50 0.513 333 1471 4066 767
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Line 4 1.40 0.828 402 1340 1931 522
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Average 1.35 0.754 383 1331 3289 609
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Line 5 1.50 0.459 176 2612 2889 392
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Line 6 1.00 0.219 91 3786 4630 513
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Line 7 1.25 0.679 223 737 1341 131
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Line 8 1.85 1.301 178 1188 1316 240
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Line 9 1.80 0.904 274 2204 774 230
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Line 10 2.35 1.551 392 2819 1238 397
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Average 1.63 0.968 244 2197 1782 313
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II Line 1 2.60 0.778 165 1261 1483 135
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II Line 2 2.00 0.518 238 1635 1830 222
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II Line 3 2.10 1.692 536 2566 2875 276
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Includes Sample 158328 0.5 3.156 1151.6 3914 6096 540
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II Line 4 1.80 1.841 397 1051 601 374
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Includes Sample 158332 0.6 3.384 761.2 2310 886 725
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II Line 5 2.50 0.546 191 692 1981 356
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Average 2.20 1.026 293 1415 1780 267
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The San Gonzalo vein in the new stope 2-200 shows strong values
of gold, silver, lead and zinc over mineable widths. These support
the assays from the adjoining raise (L1 through L19) taken in meter
intervalsover a 19 meter length. The average width was 1.23m, 2.071
g/t gold, 381 g/t silver, 5349 ppm lead, 1182 ppm zinc.
From March 22 - 28, the Avino regional program drilled 5 holes
on the Guadalupe vein (for locations please see website). These
holes explored higher grade areas along the Guadalupe structure
which had been identified by previous surface sampling programs and
a coincident IP chargeability anomaly. Results from the first two
holes are as follows:
----------------------------------------------------------------------------
Down
Hole
Interse-
From ction Gold Silver Copper Lead Zinc
Hole# Bearing Dip (m) To (m) (m) (g/t) (g/t) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
GPE-11-01 205 45 54.80 55.40 1.10 0.167 44.25 13700
----------------------------------------------------------------------------
GPE 11-02 207 43 52.40 56.00 3.10 0.80 47.70 2372 2959 1435
----------------------------------------------------------------------------
While these values are probably not "ore grade," the style of
principal vein mineralization surrounded by a stock work of
veinlets and the presence of significant copper values indicates
that the Guadalupe structure has similarities to the main Avino
vein that was mined by the company between 1976 and 2001. Avino is
planning further drill holes at Guadalupe. The stock work nature of
the mineralization at shallow depths (less than vertical 40 meters)
indicates that open pit mining could be possible at Guadalupe as it
was at the main Avino Vein (open pit production 1976-1992).
Founded in 1968, Avino has established a long record of mining
and exploration in Mexico. The Company's focus is to bring the
property to production. Avino remains well funded.
ON BEHALF OF THE BOARD
David Wolfin, President
This release contains statements that are forward-looking
statements and are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulators. Such information contained herein
represents management's best judgment as of the date hereof based
on information currently available. The Company does not assume the
obligation to update any forward-looking statement.
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.
Contacts: Avino Silver and Gold Mines Ltd. David Wolfin
President 604.682.3701 604.682.3600 (FAX) ir@avino.com
www.avino.com
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