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Avino Announces Drill Results from the El Chirumbo and Guadalupe Areas of the Avino Property

 

 

 

 

 

Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (GV6: FSE:GV6) is pleased to announce further drill results from its planned programs on the El Chirumbo area of the Avino vein system, as well as the Guadalupe area near the San Gonzalo Mine. Both of these areas are located on the Avino property, situated 80 kilometres northeast of Durango, Mexico. The objective of this drill program, which commenced in August, 2017, was to explore targets outside of the current active mining areas in order to assess their potential. The initial results were released on February 6, 2018, and can be viewed on the Avino website or under the Company’s profile on SEDAR (www.sedar.com) and were also filed with the SEC on Form 6-K.

 

 

“We are pleased with the success of the results from the El Chirumbo area and the Guadalupe Vein, which is a longer-term target and provides further confidence to continue exploration.” said David Wolfin, President and CEO. “There is untapped potential on the property, and we are eager to plan further exploration and drill programs.”  

 

 

Three drill holes from the historical El Chirumbo mining area, located at the east end of the Avino vein are reported below. The first seven holes were released in the news release dated February 6, 2018, as mentioned above. This area is characterized by narrow veins approximately 1 metre in thickness.

 

 

The results of the three holes (761 metres drilled) in this area are as follows:

 

 

Table 1: Summary of Drilling in the Elena Tolosa area

 

 

 

Hole Number Zone Intersection (m) Length (m) Au (g/t) Ag (g/t) Cu (%)
ET-17-30 Avino Vein Stockwork 182.3 – 197.70 15.4 0.20 129 0.64
  Including 185.70 – 195.45 9.75 0.25 182 0.64
  Foot Wall Breccia-Stockwork 233.7 – 276.45 42.75 0.45 46 0.44
  Including 235.8 – 261.5 25.70 0.67 63 0.48
ET-18-01 Avino Vein Fault 32.65 – 48.50 15.85 4.13 20 0.07
  Avino Vein Stockwork 59.15 – 83.50 24.35 0.12 27 0.20
  Including 76.65 – 83.50 6.85 0.18 37 0.33
  Intermediate Breccia 84.0 – 91.35 7.35 0.36 47 0.33
  Including 84.0 – 86.0 2.00 0.90 93 0.73
ET-18-02 Avino Vein Stockwork 200.60 – 204.65 4.05 0.06 73 0.31
  Avino Vein 206.05 – 211.45 5.40 0.07 18 0.17
  Avino Andesite Stockwork 211.45 – 213.65 2.20 0.03 3 0.71
  Intermediate Breccia 250.25 – 252.85 2.60 0.31 62 0.16
  Footwall Breccia – Stockwork 273.6 – 299.30 25.70 0.11 61 0.63
  Including 293.30 – 299.30 6.00 0.09 202 0.64
True Widths cannot be determined with the information available      

 

 

 

 

Eleven holes (2,020 metres drilled) have been drilled on the Guadalupe Vein which is similar in thickness and orientation to the San Gonzalo Vein and the results are reported below:

 

 

 

Hole Number Zone Intersection (m) Length (m) Au (g/t) Ag (g/t) Cu (%)
GPE-17-08 Guadalupe Vein 169.45 – 170.05 0.60 1.38 90 0.76
GPE-17-09 Guadalupe Vein 97.35 – 98.85 1.50 4.79 11 0.05
  Including 97.35 – 98.0 0.65 10.53 22 0.11
GPE 17-10 Guadalupe Vein 193.50 – 194.85 1.35 0.03 6 0.05
GPE-18-01 Guadalupe Vein 154.65 – 158.40 3.75 0.32 171 0.10
  Including 154.65 – 156.85 2.20 0.44 284 0.10
GPE-18-02 Guadalupe Vein 85.60 – 87.20 1.60 0.23 84 0.28
GPE-18-03 No significant values          
GPE-18-04 Guadalupe Vein 78.75 – 83.95 5.20 0.07 26 0.34
GPE-18-05 Guadalupe Vein 127.05 – 130.95 3.90 0.33 129 0.75
GPE-18-06 Quartz Breccia 165.85 – 166.90 1.05 0.11 17 0.16
  Including 274.60 – 279.20 4.60 0.02 1.53 0.05
GPE-18-07 Guadalupe Vein 183.0 – 185.55 2.55 0.16 35 0.08
GPE-18-08 Guadalupe Vein 257.30 – 259.55 2.25 0.59 30 0.06
  Including 257.3 – 259.05 1.75 0.74 38 0.07
True Widths cannot be determined with the information available        

 

 

 

These drill results are encouraging as the presence of mineralized material in the Guadalupe Vein has been shown to extend along a strike distance of 800 metres and to a depth of 250 metres from surface. The continuity of the mineralization will need to be verified by infill drilling and the vein is open to depth.

 

 

An image of the drilling on the Guadalupe Vein looking southwest is attached.

 

 

New Drill Program

 

 

The Company is also in the planning stages of a new drill program targeting the Aguila Mexicana vein located approximately 400 metres to the Northeast of the San Gonzalo Mine.  The main purpose of this drill program is to explore the potential continuity of mineralization along the vein which was the subject of drilling in 2007/2008.

 

 

Aguila Mexicana is a north-northwest trending low temperature vein system, with significant widths and similar continuity across the property as the main Avino vein system. The Avino and Aguila Mexicana veins are considered to be the two strongest and widest structures on the property. Additional geological information on the Aguila Mexicana vein can be located in our latest NI 43-101 Technical Report on the Avino Property, either on our website or on the Company’s profile on SEDAR.

 

 

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)

 

 

Avino’s projects are under the supervision of Michael O’Brien, P.Geo., Technical Director, Geology and Resources, Ausenco Canada, 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 is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in Mexico and Canada employing approximately 600 people. Avino produces from its wholly owned Avino and San Gonzalo Mines 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.

 

Posted July 11, 2018

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