VANCOUVER, Aug. 13, 2019 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM:
TSX/NYSE American; GV6: FSE; "Avino" or "the Company") is pleased
to announce complete results from the Q1-Q2 2019 drilling campaign
in the newly identified NorthEast Block ("NE Block") Vein Network
(see Figure 1) at the Bralorne Gold Mine located near Gold Bridge, British Columbia. First
pass drill testing of this exciting target is now complete, and the
area is considered by Avino to have high potential to host another
large Bralorne-style gold vein system.
Drilling began in the NE Block on January
11, 2019 and 35 holes have now been completed with
gold-bearing quartz veins intersected in 27 holes, including 12.35
g/t (grams per tonne) gold over 0.91 meters true width at 204.7
meters depth in SB-2019-024, and 3.06 g/t gold over 2.6
meters true width at 257 meters depth in SB-2019-031. Assay results
from all 35 holes into the NE Block have now been received.
Drilling through Q3 will target underexplored and highly
prospective volumes between the historic Bralorne and Pioneer
mines.
The Company is using the gross proceeds of CDN $6,000,000 raised from the Flow-Through share
offering which closed on April 27,
2018 to fund the exploration work. The news release dated
April 27, 2018 describing the
offering may be viewed on the Avino website or under the Company's
profile on SEDAR (www.sedar.com) and was also filed with the SEC on
Form 6-K.
Flow-through funds for this campaign are available to be used by
the end of December 2019. An
estimated CDN $4.5 million has been
spent to date on 24,000 meters of an expected 28,000 to 30,000
meters of diamond drilling program. The program was planned in two
phases with Phase One targeting underexplored portions of known
veins from Q4 2018 through Q1 2019, and Phase Two targeting new
discoveries in unexplored portions of the property from Q1 2019
until the end of the year.
"We are very encouraged by the completed first pass drill
testing of the NE Block target area, and we now consider the area
to have high potential to host another large Bralorne-style gold
vein system." said David Wolfin,
Avino's President and CEO. "The drilling during the third quarter
will be focused on the underexplored areas between the historic
Bralorne and Pioneer mines. We look forward to receiving
these assays later in the year and to the continued success of the
drill campaign."
Drilling Campaign – NE Block Target Initial Results (see
Figure 2)
The 2019 NE Block drilling campaign has identified a new vein
array with an 1,100 metre strike extent using a wide-spaced 150
metre drill pattern. The occurrence of gold bearing quartz
veins in 77% of these holes, together with the structural and
textural similarities that appear between these intercepts and the
mineralization at the nearby King, Bralorne and Pioneer mines, is
considered strongly supportive of Avino's exploration thesis. (see
the Avino news release dated April 1,
2019).
Table 1: NE Block Assay Highlights
Hole
Number
|
Description
|
From
|
To
|
Length
|
True
Width
|
Au
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
SB-2019-005
|
Sericitized shear
zone & quartz veins
|
61.87
|
78.75
|
16.88
|
N/A
|
1.93*
|
Including
|
Banded brecciated
quartz vein
|
62.87
|
65.04
|
2.17
|
N/A
|
3.17*
|
And
|
Banded brecciated
quartz vein
|
68.04
|
71.04
|
3.00
|
N/A
|
3.11*
|
SB-2019-005
|
Banded brecciated
quartz vein
|
105.20
|
106.20
|
1.00
|
0.53
|
12.98*
|
SB-2019-006
|
Sericitized shear
zone & quartz veins
|
85.00
|
90.00
|
5.00
|
N/A
|
2.14*
|
Including
|
As above
|
87.00
|
89.00
|
2.00
|
N/A
|
3.97*
|
SB-2019-007
|
Sericitized shear
zone & quartz veins
|
250.54
|
257.15
|
6.61
|
N/A
|
2.03*
|
Including
|
As above
|
254.70
|
255.70
|
1.00
|
N/A
|
6.12*
|
SB-2019-012
|
Banded quartz
vein
|
46.60
|
49.60
|
3.00
|
2.12
|
3.04*
|
Including
|
Banded quartz
vein
|
47.60
|
48.60
|
1.00
|
0.71
|
6.00*
|
SB-2019-013
|
Banded quartz
vein
|
168.26
|
168.83
|
0.57
|
0.23
|
30.73*
|
SB-2019-013
|
Banded quartz
vein
|
440.94
|
441.50
|
0.56
|
0.43
|
3.61*
|
SB-2019-019
|
Brecciated quartz
vein
|
48.50
|
50.50
|
2.00
|
1.97
|
3.47
|
SB-2019-023
|
Sericitized shear
& quartz veins
|
208.62
|
213
|
4.38
|
3.79
|
2.47
|
Including
|
Brecciated quartz
vein
|
212.33
|
213
|
0.67
|
N/A
|
4.52
|
SB-2019-023
|
Banded quartz
vein
|
263.75
|
264.9
|
1.15
|
0.88
|
3.87
|
SB-2019-024
|
Brecciated quartz
vein
|
204.7
|
205.7
|
1
|
0.91
|
12.35
|
SB-2019-024
|
Brecciated quartz
vein
|
372.5
|
373.5
|
1
|
N/A
|
3.96
|
SB-2019-029
|
Brecciated quartz
vein
|
98.05
|
99.05
|
1
|
0.94
|
4.15
|
SB-2019-031
|
Quartz vein
breccia
|
257
|
267
|
10
|
2.59
|
3.06
|
Including
|
Quartz vein
breccia
|
265
|
266
|
1
|
N/A
|
6.98
|
*Reported in
news release April 2019
|
Table 2: Q2 2019 NE Block significant intercepts
Hole
Number
|
Description
|
From
|
To
|
Length
|
True
Width
|
Au
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
SB-2019-014
|
Banded sheared quartz
vein
|
68.35
|
69.35
|
1
|
0.64
|
1.45
|
SB-2019-015
|
Banded quartz
vein
|
205
|
207
|
2
|
1.81
|
1.14
|
SB-2019-016
|
Brecciated quartz
vein
|
272.62
|
273.23
|
0.61
|
0.53
|
1.07
|
SB-2019-016
|
Banded quartz
vein
|
375
|
376
|
1
|
0.97
|
1.09
|
SB-2019-016
|
Sericitized
shear
|
476.7
|
477.7
|
1
|
0.98
|
1.16
|
SB-2019-017
|
Banded quartz
vein
|
125.33
|
126.33
|
1
|
0.57
|
1.77
|
SB-2019-017
|
Banded quartz
vein
|
131.25
|
132
|
0.75
|
0.38
|
2.14
|
SB-2019-017
|
Banded quartz
vein
|
285
|
285.85
|
0.85
|
0.49
|
1.63
|
SB-2019-017
|
Brecciated quartz
vein
|
491.62
|
493.2
|
1.58
|
0.91
|
1.58
|
SB-2019-018
|
Brecciated quartz
vein
|
90.15
|
90.9
|
0.75
|
0.19
|
2.23
|
SB-2019-018
|
Brecciated quartz
vein
|
94.75
|
95.35
|
0.6
|
N/A
|
2.37
|
SB-2019-019
|
Sericitized
shear
|
33
|
34
|
1
|
0.50
|
1.31
|
SB-2019-019
|
Sericitized shear
& quartz veins
|
47.5
|
51.5
|
4
|
3.94
|
2.12
|
Including
|
Brecciated quartz
vein
|
48.5
|
50.5
|
2
|
1.97
|
3.47
|
SB-2019-019
|
Sericitized
Shear
|
78.5
|
79.5
|
1
|
0.21
|
1.38
|
SB-2019-019
|
Sericitized shear
& quartz vein
|
87
|
89
|
2
|
0.68
|
1.82
|
SB-2019-019
|
Banded quartz
vein
|
91.8
|
92.8
|
1
|
0.26
|
1.86
|
SB-2019-019
|
Sericitized shear
& quartz vein
|
159
|
161
|
2
|
N/A
|
1.19
|
SB-2019-020
|
No Significant
assays
|
|
|
|
N/A
|
|
SB-2019-021
|
Sericitized
Shear
|
23
|
24
|
1
|
0.50
|
1.74
|
SB-2019-021
|
Sericitized shear
& quartz vein
|
141.5
|
144
|
2.5
|
0.86
|
1.57
|
SB-2019-022
|
No Significant
assays
|
|
|
|
N/A
|
|
SB-2019-023
|
Sericitized shear
& quartz veins
|
208.62
|
213
|
4.38
|
3.79
|
2.47
|
Including
|
Brecciated quartz
vein
|
212.33
|
213
|
0.67
|
N/A
|
4.52
|
SB-2019-023
|
Brecciated quartz
vein
|
246.72
|
247.22
|
0.5
|
0.34
|
1.6
|
SB-2019-023
|
Banded quartz
vein
|
253.56
|
255.56
|
2
|
1.41
|
1.61
|
SB-2019-023
|
Banded quartz
vein
|
263.75
|
264.9
|
1.15
|
0.88
|
3.87
|
SB-2019-023
|
Banded quartz
vein
|
266
|
266.7
|
0.7
|
N/A
|
1.37
|
SB-2019-023
|
Sericitized
Shear
|
268.75
|
269.9
|
1.15
|
N/A
|
2.31
|
SB-2019-023
|
Brecciated quartz
vein
|
285.36
|
286.06
|
0.7
|
0.63
|
2.14
|
SB-2019-023
|
Sericitized shear
& quartz vein
|
383
|
383.87
|
0.87
|
0.71
|
1.49
|
SB-2019-024
|
Sericitized shear
& quartz vein
|
204.7
|
206.6
|
1.9
|
1.72
|
7.14
|
Including
|
Brecciated quartz
vein
|
204.7
|
205.7
|
1
|
0.91
|
12.35
|
SB-2019-024
|
Brecciated quartz
vein
|
372.5
|
373.5
|
1
|
N/A
|
3.96
|
SB-2019-024
|
Sericitized shear
& quartz vein
|
391
|
392
|
1
|
0.94
|
1.02
|
SB-2019-025
|
Sericitized shear
& quartz vein
|
267
|
268
|
1
|
0.68
|
1.1
|
SB-2019-026
|
Banded quartz
vein
|
228.5
|
229.5
|
1
|
0.50
|
2.09
|
SB-2019-027
|
No Significant
assays
|
|
|
|
N/A
|
|
SB-2019-028
|
Banded quartz
vein
|
78.35
|
79.09
|
0.74
|
0.31
|
1.7
|
SB-2019-028
|
Sericitized shear
& quartz vein
|
131.85
|
132.35
|
0.5
|
0.29
|
2.55
|
SB-2019-028
|
Banded quartz
vein
|
228.5
|
229.5
|
1
|
0.77
|
2.07
|
SB-2019-029
|
Brecciated quartz
vein
|
98.05
|
99.05
|
1
|
0.94
|
4.15
|
SB-2019-030
|
Brecciated quartz
vein
|
369.5
|
370.5
|
1
|
0.91
|
1.43
|
SB-2019-031
|
Quartz vein
breccia
|
245
|
248
|
3
|
0.88
|
2.06
|
SB-2019-031
|
Quartz vein
breccia
|
257
|
267
|
10
|
2.59
|
3.06
|
Including
|
Quartz vein
breccia
|
260
|
261
|
1
|
0.26
|
3.70
|
and
|
Quartz vein
breccia
|
262
|
263
|
1
|
0.17
|
4.88
|
and
|
Sericitized
shear
|
265
|
266
|
1
|
N/A
|
6.98
|
and
|
Sericitized shear
& quartz vein
|
266
|
267
|
1
|
N/A
|
4.3
|
SB-2019-032
|
Sericitized shear
& quartz vein
|
65
|
66
|
1
|
0.97
|
1.51
|
SB-2019-033
|
No Significant
assays
|
|
|
|
N/A
|
|
SB-2019-034
|
No Significant
assays
|
|
|
|
N/A
|
|
SB-2019-035
|
Sericitized shear
& quartz vein
|
246.1
|
248
|
1.9
|
N/A
|
2.18
|
Including
|
Sericitized shear
& quartz vein
|
246.1
|
247
|
0.9
|
N/A
|
3.23
|
SB-2019-035
|
Banded quartz
vein
|
276.4
|
277.2
|
0.8
|
N/A
|
1.83
|
SB-2019-035
|
Brecciated quartz
vein
|
322.25
|
322.96
|
0.71
|
N/A
|
2.57
|
|
True widths cannot
always be determined with the information available
|
BP Gap Target – Q3 Drilling
Drilling is now underway in the historically underexplored gap
between the Bralorne and Pioneer mines. Avino's newly developed
conceptual targeting model has highlighted two large volumes of
prospective ground possessing direct structural and lithological
similarities to areas which hosted the hugely productive 77 and 27
Veins. Historically, exploration drilling in this area was oriented
orthogonal to the nearby 51B FW
(Footwall) and Countless Veins, leading to a drill pattern which
contains large gaps in some of the most prospective ground in the
district.
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 the MSA Laboratory facility in Langley, BC, Canada, and the other half is retained on-site
for verification and reference. Gold is assayed by 30 gram fire
assay with an AAS finish (MSA method FAS-111). Any samples
exceeding 1.0 gram/tonne gold are re-assayed using a 500 gram
metallic screen process followed by 30 gram fire assay (MSA method
MSC-500). Multi-element analyses are also completed for each sample
(MSA method ICP-130).
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 Bralorne Gold Mine project is under the supervision of
Fred Sveinson, B.A., B.Sc., P.Eng,
Senior Mining Advisor, who is a qualified person within the context
of National Instrument 43-101, and Mr. Garth Kirkham, P. Geo., Principal of Kirkham
Geosystems Ltd., who is an "independent qualified person", as
defined by Section 1.5 of NI 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 350 people.
Avino produces from its wholly owned Avino and San Gonzalo Mines
near Durango, Mexico, and is
currently exploring and drilling 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.
ON BEHALF OF THE BOARD
"David Wolfin"
______________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines
Ltd.
Safe Harbor Statement - This news release contains
"forward-looking information" and "forward-looking statements"
(together, the "forward looking statements") within the meaning of
applicable Canadian securities laws and the United States Private
Securities Litigation Reform Act of 1995, including, but are not
limited to, the Company's ability to meet its production guidance,
expectations of All-In Sustaining Cash Cost ("AISC"), information
on the updated mineral resource estimate for the Company's Avino
Property located near Durango in west-central Mexico (the "Property") with an effective date
of February 21, 2018, and amended on
December 19, 2018, prepared for the
Company, and reference to Measured, Indicated, Inferred Resources
referred to in this press release. 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. No assurance can be given that the Company's Property
does not have the amount of the mineral resources indicated in the
updated report or that such mineral resources may be economically
extracted.
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 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 Regarding Non-GAAP Measures
This news release includes certain terms or performance measures
commonly used in the mining industry that are not defined under
International Financial Reporting Standards ("IFRS"), including
silver equivalent ounces (AgEq oz) of production. Non-GAAP measures
do not have any standardized meaning prescribed under IFRS and,
therefore, they may not be comparable to similar measures reported
by other companies. We believe that, in addition to conventional
measures prepared in accordance with IFRS, certain investors use
this information to evaluate our performance. The data presented is
intended to provide additional information and should not be
considered in isolation or as a substitute for measures of
performance prepared in accordance with IFRS. Readers should also
refer to our management's discussion and analysis available under
our corporate profile at www.sedar.com or on our website at
www.avino.com.
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SOURCE Avino Silver & Gold
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