Avino Silver & Gold Mines Ltd. (ASM: TSX:ASM) (NYSE American:ASM) (FSE:GV6) 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 material with significant and consistent metal grades and wide vein widths. These results include significant intercepts such as:
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
|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|
|ET-17-09||Andesite & Narrow Vn||46.65||50.30||3.65||0.08||57||0.63|
|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.
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.
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.
Offering Was Set at a Premium to the Share Price When Launched ... READ MORE
180 g/t Au Over 2.2 Metres 46.8 g/t Au Over 3.3 Metres Osi... READ MORE
C2C Gold Corp. (CSE: CTOC;) is pleased to announce that it has c... READ MORE
International Consolidated Uranium Inc. (TSX-V: CUR) is pleased... READ MORE
Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) released its finan... READ MORE