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Avino’s Results from Phase 1 of its 2021 Exploration Program; Drills 865 g/t of AgEq Over 0.80 Metres at Santiago and 820 g/t of AgEq Over 1.40 Metres at La Malinche

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Avino’s Results from Phase 1 of its 2021 Exploration Program; Drills 865 g/t of AgEq Over 0.80 Metres at Santiago and 820 g/t of AgEq Over 1.40 Metres at La Malinche

 

 

 

 

 

Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6)  is pleased to announce initial drill results from Phase 1 of the drill campaign which was announced as part of the Company’s exploration plans for 2021.

 

“The results of this initial drill program are encouraging as we had some significant grades hit at each location,” said David Wolfin, President and CEO. “We will integrate this information into our geological model to improve our understanding as we continue to look for economic deposits similar to our San Gonzalo mine while at the same time looking to add M&I resources at our Avino mine.  We have been test targeting a few holes at a time to determine potential areas to further focus on, as well as building a database of geological information.”

 

The reported results below are from the El Trompo Vein, the Santiago Vein, and the recently announced La Malinche Vein.

 

El Trompo Vein:

 

The El Trompo Vein is a priority target as it is an offshoot of the Avino Vein, which has been one of the feeder veins for the Company’s milling complex. Historical data indicates there are high grade areas within the vein over considerable widths, and there is underground infrastructure adjacent to the vein, which would allow access for mining. The structure has already been exposed and developed on the upper levels in the ET Area of the Avino Vein. Drilling on this vein has been from surface to confirm continuity of the mineralization at depth.

 

Table 1: El Trompo Vein – Summary of Drilling – 8 holes and 1,569 metres

 

Hole
Number
From To Length (m) Au (g/t) Ag (g/t) Cu (ppm) Pb (ppm) Zn (ppm) AgEq
(g/t)
TR-21-01 182.90 183.85 0.95 0.56 177.00 35,000 540 670 577
TR-21-02 228.45 231.00 2.70 0.03 32.00 3,000 180 1,900 71
TR-21-03 101.80 104.55 2.75 0.42 276.00 1,000 2,900 1,000 322
TR-21-04 139.80 141.65 1.85 0.08 37.00 1,000 1,200 2,700 64
TR-21-05 115.00 116.00 1.00 0.02 8.00 1,300 40 3,500 33
TR-21-06 161.35 165.75 4.40 0.11 47.00 2,100 1,600 700 82
TR-21-07 124.35 127.15 2.80 0.01 2.00 170 100 1,600 9
TR-21-08 182.05 183.90 1.85 0.01 1.00 0 20 5600 4
*AgEq in drill results assumes $1,800 Au and $26.00 Ag per ounce, and $4.25 Cu, $1.00 Pb., and $1.25 Zn per pound., and 100% metallurgical recovery.

 

The recent El Trompo drilling has demonstrated continuity along 250 m of strike at a depth pf 120 m below surface.

 

Santiago Vein:

 

The Santiago vein lies further north in the Avino mining district in an area of narrow veins that average 1 to 2 metres in width and intersects the San Gonzalo vein with mineralization similar to the historically high-grade San Gonzalo silver-gold mineralization. The San Gonzalo mine previously produced 6 million ounces of silver equivalent until closing in 2019. The continuity of the mineralization of the Santiago vein is being tested, as well as an apparent displacement by the San Gonzalo fault. This target will be drilled from surface. Because of the close proximity to San Gonzalo underground infrastructure, mining access is close by, if significant mineral resources are found.

 

Table 2: Santiago Vein – Summary of Drilling – 7 holes and 1,451 metres (Assays from 1 hole outstanding)

 

Hole
Number
From To Length (m) Au (g/t) Ag (g/t) Cu (ppm) Pb (ppm) Zn (ppm) AgEq
(g/t)
ST-21-01 158.35 160.10 1.75 0.09 25 1,720 315 1,230 53
ST-21-02 171.00 171.60 0.60 0.18 33 154 712 2,080 55
ST-21-03 124.15 125.85 1.70 0.13 16 234 661 3,420 39
ST-21-04 202.60 203.40 0.80 2.62 643 2,500 2,605 2,918 865
ST-21-04 337.30 338.05 0.75 0.04 2 32 101 80 6
ST-21-05 Did not
intersect
the vein
ST-21-06 199.05 199.20 0.15 0.017 23 3,280 116 200 59
*AgEq in drill results assumes $1,800 Au and $26.00 Ag per ounce, and $4.25 Cu, $1.00 Pb., and $1.25 Zn per pound., and 100% metallurgical recovery.

 

La Malinche Vein:

 

The La Malinche vein has been tested by six holes and the assays are shown in Table 3. The style of mineralization intersected resembles the low-sulphidation epithermal San Gonzalo vein. This vein may represent a northwestern fault-dislocated extension of the San Gonzalo vein.

 

More exploration work will be conducted to confirm this concept and broaden understanding of the system.

 

Table 3: La Malinche – Summary of Drilling – 8 holes at 600 metres (Assays from 2 holes outstanding)

 

Hole
Number
From To Length (m) Au (g/t) Ag (g/t) Cu (ppm) Pb (ppm) Zn (ppm) AgEq
(g/t)
LM-21-01 53.35 53.85 0.50 0.44 9 630 5,724 18,248 114
LM-21-02 77.60 77.85 0.25 0.12 23 2,980 539 282 64
LM-21-03 76.05 77.45 1.40 0.12 5 475 451 402 20
LM-21-04 76.05 77.45 1.40 1.68 252 11,700 9,390 103,000 820
LM-21-04 90.05 90.20 0.15 0.04 26 4,610 278 1,490 81
LM-21-05 70.75 72.10 1.35 0.65 61 4,914 4,716 5,674 185
LM-21-06 85.30 86.20 0.90 1.56 364 28,778 7,411 616 786
*AgEq in drill results assumes $1,800 Au and $26.00 Ag per ounce, and $4.25 Cu, $1.00 Pb., and $1.25 Zn per pound., and 100% metallurgical recovery.

 

True Widths cannot be determined with the available information.

 

These drill results are encouraging as the presence of mineralized material in the La Malinche Vein has been shown to extend along a strike distance of 250 metres and to a depth of 75 metres from surface. The 650 metre gap between the La Malinche vein and the northwest termination of the San Gonzalo vein remains prospective.

 

Current Drilling Highlights

 

As at July 9, 2021, the total meterage drilled is as follows:

  • El Trompo Vein – 1,569 metres
  • Santiago Vein – 1,717 metres
  • La Malinche – 820 metres
  • Oxide tailings – 1,701 metres

 

Testing on other known veins in the area are as follows:

  • Nuestra Senora – 340 metres
  • San Jorge – 133 metres

 

Assays of samples are pending for these areas as well as two holes for La Malinche.

 

In addition, a new interpretation of the Avino footwall vein adjacent to the El Trompo vein is being probed and 400 metres has been drilled. Assays of the samples are currently pending.

 

Oxide Tailings Resource Drilling

 

Avino is currently infill drilling the oxide tailings resource that sits within our tailings storage facility #1 (“TSF#1”). We have 200 holes planned of which we have drilled approximately 57 holes. Assays of the samples are pending. In 2017, Avino released an encouraging Preliminary Economic Assessment (“PEA”), which can be found on Avino’s profile on SEDAR. One of the recommendations from the PEA was to perform additional surface drilling to increase the confidence level of the resource. This would be done in anticipation on commencing a Pre-Feasibility Study (“PFS”). Avino is currently proceeding with the recommended drilling with the intention of making a decision to proceed with a PFS later in the year.

 

Qualified Person(s)

Avino’s projects in Durango, Mexico are under the geoscientific oversight of Michael O’Brien, P.Geo., Senior Principal Consultant, Red Pennant Communications, and under the supervision of Peter Latta, P.Eng, Avino’s VP, Technical Services, who are both qualified persons within the context of NI 43-101. Both have reviewed and approved the technical data in this news release.

 

About Avino

Avino is primarily a silver producer with a diversified pipeline of silver, gold, and base metal properties in Mexico. Avino produces from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver and gold 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 and the strategic acquisition of mineral exploration and mining properties. We are committed to managing all business activities in a safe, environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which we operate.

 


Figure 1. 2021 Drilling and vein Locations (Topography contours at 20m intervals) (CNW Group/Avino Silver & Gold Mines Ltd.)

 

Posted July 15, 2021

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