VANCOUVER, BC, Jan. 10, 2022 /CNW/ - Avino Silver &
Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM)
(FSE: GV6) ("Avino" or "the Company") is pleased to announce
continued drill results from Phase 2 of the drill campaign which
was announced as part of the Company's exploration plans for
2021.
Over 15,500 metres of drilling were completed in 2021. This
drill program was one of the Company's main focuses for the
year.
"The results from Phase 2 of the drill campaign are highly
encouraging as we have intersected some significant widths with
mineralization on the Brecha de
Bajo vein which are in close proximity to our current underground
workings at ET. In the process of testing this vein, we discovered
a new vein splay which appears to be mineralized, and has been
named the Bart vein, after the geologist at site who discovered it.
In addition, two areas that are showing promise with high gold and
silver grades are the Nuestra Señora vein and the La Malinche vein" said David Wolfin, President and CEO. "Our
exploration strategy is a two-pronged approach based on the
different styles of mineralization. We continue to look for
economic high grade, narrow vein low sulphidation style deposits
near surface similar to our San Gonzalo mine, and to add large
volume, minable, resources around the current ET mine by exploring
the consistent Avino vein, and its vein splays at depth and along
strike. As we have mentioned previously, we have been test
targeting a few holes at a time for a methodical approach to
building our database of geological information. These are the
kinds of veins that have sustained the Avino mine for last 40
years."
The reported results below are from the El Trompo Vein, the
Santiago Vein and the La Malinche Vein and additional areas
including the Nuestra Señora and the area below Level 17 at the
current ET mine. The tables below include previous results achieved
in 2021 and the latest new holes. In addition, we have completed
drilling on the oxide tailings resource but are waiting for assays
on a number of outstanding holes.
Results from previously announced El Trompo, Santiago and La Malinche Veins are summarized
in a table at the end of this news release.
Brecha de Bajo
Veins:
This vein is located Northeast of the Avino Vein at the eastern
end. This vein is within 20m of the
current mine working into the footwall and shows some potentially
large, strongly mineralized widths with a 15.4m and 32.2m
intersections. In addition to a showing of gold and silver grades,
there is massive specularite (iron ore) mineralization. More work
is planned in this area.
Table 1: The Brecha de Bajo
and Bart Vein – Summary of Drilling
– 3 holes and 843 metres
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
NBX-21-02
|
259.10
|
260.30
|
1.20
|
0.06
|
151
|
3,743
|
614
|
1,807
|
211
|
And
|
276.60
|
284.40
|
7.80
|
0.08
|
21
|
5,550
|
66
|
1,611
|
103
|
And
|
300.40
|
301.05
|
0.65
|
0.06
|
48
|
7,565
|
128
|
3,063
|
159
|
NBX-21-03
|
184.05
|
185.55
|
1.50
|
0.14
|
84
|
3,236
|
762
|
2,491
|
147
|
And
|
186.90
|
202.30
|
15.40
|
0.27
|
72
|
2,569
|
2,808
|
1,326
|
141
|
Including
|
189.60
|
190.65
|
1.05
|
0.30
|
380
|
11,980
|
4,230
|
1,838
|
573
|
And
|
222.60
|
254.80
|
32.20
|
0.84
|
44
|
2,173
|
1,906
|
1,698
|
151
|
Including
|
247.85
|
249.80
|
1.95
|
1.58
|
120
|
1,187
|
1,355
|
453
|
267
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
Below Level 17 and West of the Current ET Mine
Workings:
Eight holes were drilled to identify the continuity of the ET
vein to the west and below the current mine workings on Level 17,
and five assays have been received. ET-21-01 to 04 correspond to
the area west of the current workings and it appears that the vein
narrows significantly; however, more work is needed to understand
the extent of the ET mineralization. ET-21-05 corresponds to the
area below the current workings. It was redrilled
(ET-21-05B) due to the original hole
trending off target. The number of intersections correspond to
offshoot vein and veinlets that make up the stockwork system of the
Avino vein. The remaining outstanding assays are for holes below
the current mining works.
Table 2: Below and Beside the ET Vein – Summary of Drilling –
8 holes and 3,170 metres
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
ET-21-01
|
309.80
|
320.60
|
10.80
|
0.11
|
7
|
537
|
50
|
154
|
23
|
ET-21-02
|
364.65
|
365.85
|
1.20
|
0.03
|
9
|
84
|
165
|
302
|
14
|
ET-21-03
|
288.40
|
288.95
|
0.55
|
0.15
|
58
|
459
|
469
|
283
|
79
|
ET-21-04
|
303.00
|
310.50
|
7.50
|
0.85
|
8
|
210
|
46
|
116
|
79
|
including
|
309.30
|
310.20
|
0.90
|
2.59
|
15
|
513
|
44
|
115
|
228
|
ET-21-05
|
182.15
|
183.15
|
1.00
|
0.57
|
62
|
17,514
|
71
|
71
|
322
|
ET-21-05B
|
180.75
|
181.90
|
1.15
|
0.20
|
16
|
4,785
|
65
|
127
|
90
|
And
|
459.15
|
466.20
|
7.05
|
0.03
|
10
|
3,513
|
37
|
363
|
57
|
And
|
489.25
|
489.85
|
0.60
|
0.04
|
17
|
15,150
|
19
|
83
|
205
|
And
|
494.50
|
508.20
|
13.70
|
0.07
|
14
|
5,222
|
185
|
292
|
85
|
including
|
494.50
|
494.80
|
0.30
|
0.07
|
54
|
49,200
|
121
|
246
|
662
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 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, which was the main source of the
Company's production from 2012 to its closure in 2019. 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 the understanding of the system.
Table 3: La Malinche –
Summary of Drilling – 8 holes and 820 metres
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
LM-21-07
|
29.90
|
30.10
|
0.20
|
7.87
|
100
|
2,710
|
27,700
|
2,880
|
870
|
LM-21-08
|
5.75
|
6.40
|
0.65
|
6.04
|
173
|
697
|
6,100
|
1,350
|
689
|
And
|
13.75
|
14.90
|
1.15
|
0.41
|
29
|
470
|
3,190
|
1,292
|
85
|
including
|
14.60
|
14.90
|
0.30
|
1.44
|
50
|
1,270
|
2,020
|
1,240
|
193
|
LM-21-08
|
16.60
|
16.65
|
0.05
|
1.49
|
320
|
2,650
|
75,400
|
1,800
|
746
|
And
|
86.98
|
87.03
|
0.05
|
0.42
|
61
|
2,890
|
99,600
|
17,300
|
557
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
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.
Nuestra Señora Vein
The Nuestra Señora structure is another example of an
epithermal, low sulfidation vein. This structure ranges from 0.10
to 0.90 m wide, composed of white,
gray, and banded quartz, abundant galena, sphalerite, and moderate
argentite. Disseminated pyrite is also observed, as well as scarce
chalcopyrite in some areas.
Table 4: Nuestra Señora – Summary of
Drilling – 2 Holes at 340 metres
Hole
Number
|
From
(m)
|
To
(m)
|
Length1 (m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
NS-21-01
|
145.80
|
146.10
|
0.30
|
0.03
|
71
|
2,480
|
26,300
|
29,700
|
324
|
And
|
148.20
|
149.20
|
1.00
|
0.99
|
82
|
604
|
38,292
|
12,986
|
360
|
including
|
148.20
|
148.50
|
0.30
|
2.99
|
135
|
880
|
56,300
|
21,800
|
676
|
including
|
149.00
|
149.20
|
0.20
|
0.16
|
184
|
712
|
104,000
|
26,500
|
688
|
And
|
149.55
|
149.70
|
0.15
|
0.31
|
143
|
426
|
90,600
|
111,000
|
968
|
NS-21-02
|
154.30
|
154.55
|
0.25
|
0.10
|
206
|
73,400
|
521
|
930
|
1,116
|
And
|
157.65
|
157.75
|
0.10
|
0.08
|
174
|
63,200
|
643
|
702
|
958
|
And
|
157.90
|
158.20
|
0.30
|
0.04
|
100
|
41,200
|
333
|
456
|
609
|
And
|
159.25
|
159.75
|
0.50
|
0.06
|
106
|
14,200
|
436
|
701
|
289
|
And
|
160.25
|
161.15
|
0.90
|
0.17
|
268
|
20,928
|
6,288
|
10,121
|
603
|
including
|
160.25
|
160.50
|
0.25
|
0.06
|
192
|
24,200
|
1,300
|
2,440
|
508
|
including
|
160.50
|
160.70
|
0.20
|
0.12
|
323
|
22,300
|
1,470
|
1,770
|
618
|
including
|
160.70
|
161.15
|
0.45
|
0.26
|
285
|
18,500
|
11,200
|
18,100
|
649
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
Santiago Vein:
The Santiago vein lies north of
the ET Mine in an area of narrow veins that average 1 to 2 metres
in width, and it intersects the San Gonzalo vein with similar style
of mineralization to the historically exploited at San Gonzalo
Mine. The San Gonzalo Mine previously produced 6 million ounces of
silver equivalent until it closed in 2019. The continuity of the
mineralization of the Santiago
vein is being tested as well as a possible offset displacement by
the San Gonzalo fault. This target was drilled from surface.
Because of the proximity to San Gonzalo underground infrastructure,
mining access would be relatively easy, if significant
mineralization is found.
Table 5: Santiago Vein – Summary of Drilling – 7 holes and
1,717 metres
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
ST-21-04
|
202.60
|
203.40
|
0.80
|
2.62
|
643
|
2,500
|
2,605
|
2,918
|
904
|
including
|
202.90
|
203.20
|
0.30
|
6.24
|
1,000
|
1,010
|
3,710
|
6,080
|
1,548
|
ST-21-07
|
211.2
|
211.4
|
0.2
|
0.16
|
46
|
2740
|
3480
|
262
|
106
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
El Trompo Vein:
The El Trompo Vein is an offshoot of the Avino Vein. Historical
data suggests that there are narrower high-grade areas within the
broader vein volume. Also, existing underground
infrastructure adjacent to the El Trompo vein, potentially provides
rapid and easy 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
the continuity of the mineralization at depth.
Table 6: El Trompo Vein – Summary of Drilling – 9 hole
and 1,569 metres
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
TR-21-09
|
178.50
|
180.00
|
1.50
|
0.01
|
6
|
416
|
42
|
3,187
|
26
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
The recent El Trompo drilling has demonstrated continuity along
250 m of strike at a depth of
120 m below surface.
San Jorge Vein:
The San Jorge vein appears to
be an extension of the Santiago
vein across a known fault. Only one exploratory hole has been
drilled to date.
Table 7: San Jorge Vein – Summary of Drilling - 1 hole and
133 metres
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
SJG-21-01
|
83.30
|
85.50
|
2.20
|
0.02
|
10
|
100
|
55
|
433
|
15
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above assumes $1,750 Au and $22.00 Ag per ounce, and $4.30
Cu, $1.25 Pb, and $1.50 Zn per pound, and 100% metallurgical
recovery
|
Current Drilling Highlights
As of Dec 31, 2021, the total
meterage drilled was 15,583 and is as follows:
- El Trompo Vein – 1,569 metres
- Santiago Vein – 1,717 metres
- La Malinche – 820 metres
- Nuestra Senora – 340 metres
- San Jorge – 133 metres
- Below and Beside ET – 4,082 metres
- Brecha de bajo and Bart Veins
– 895 metres
- La Potosina – 2,382 metres
- Oxide Tailings – 3,645 metres
Assays are pending due to long turnaround times at the
laboratories for some of the Oxide Tailings drilling as well as the
holes at La Potosina, Brecha de
Bajo and 3 holes below ET.
The table below summarizes the previously announced Phase 1
drill results from El Trompo, Santiago and La Malinche Veins
Hole
Number
|
From (m)
|
To
(m)
|
Length1
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(ppm)
|
PB
(ppm)
|
Zn
(ppm)
|
AgEq2
(g/t)
|
El Trompo
Vein
|
TR-21-01
|
182.00
|
183.85
|
0.95
|
0.56
|
177
|
35,000
|
540
|
670
|
577
|
TR-21-02
|
228.45
|
231.00
|
2.70
|
0.03
|
32
|
3,000
|
180
|
1,900
|
71
|
TR-21-03
|
101.80
|
104.55
|
2.75
|
0.42
|
276
|
1,000
|
2,900
|
1,000
|
322
|
TR-21-04
|
139.80
|
141.65
|
1.85
|
0.08
|
37
|
1,000
|
1,200
|
2,700
|
64
|
TR-21-05
|
115.00
|
116.00
|
1.00
|
0.02
|
8
|
1,300
|
40
|
3,500
|
33
|
TR-21-06
|
161.35
|
165.75
|
4.40
|
0.11
|
47
|
2,100
|
1,600
|
700
|
82
|
TR-21-07
|
124.35
|
127.15
|
2.80
|
0.01
|
2
|
170
|
100
|
1,600
|
9
|
TR-21-08
|
182.05
|
183.90
|
1.85
|
0.01
|
1
|
0
|
20
|
5600
|
4
|
Santiago
Vein
|
ST-21-01
|
158.35
|
160.10
|
1.75
|
0.09
|
25
|
1,720
|
315
|
1230
|
53
|
ST-21-02
|
171.00
|
171.60
|
0.60
|
0.18
|
33
|
154
|
712
|
2080
|
55
|
ST-21-03
|
124.15
|
125.85
|
1.70
|
0.13
|
16
|
234
|
661
|
3420
|
39
|
ST-21-04
|
202.60
|
203.40
|
0.80
|
2.62
|
643
|
2,500
|
2,605
|
2,918
|
865
|
ST-21-05
|
Did not intersect
the vein
|
ST-21-06
|
198.75
|
199.50
|
0.75
|
0.01
|
6
|
724
|
66
|
191
|
59
|
La Malinche
Vein
|
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
|
81.05
|
81.15
|
0.10
|
1.68
|
252
|
11,700
|
9,390
|
103,000
|
820
|
And
|
89.80
|
90.50
|
0.70
|
0.19
|
30
|
3,480
|
3,456
|
5,635
|
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
|
1. True Widths
cannot be determined with the available information
|
2. AgEq in drill
results above 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
|
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 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. To view the Avino Mine VRIFY tour,
please click here.
On Behalf of the Board
"David Wolfin"
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines
Ltd.
This news release contains "forward-looking information" and
"forward-looking statements" (together, the "forward looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995,
including the amended mineral resource estimate for the Company's
Avino Property located near Durango in west-central Mexico (the "Avino Property") with an
effective date of January 13, 2021,
prepared for the Company, and La Preciosa's updated October 27, 2021 resource estimate and references
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 Avino
Property nor the La Preciosa Property have the amount of the
mineral resources indicated in their reports 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; the COVID-19 pandemic; volatility in the
global financial markets; 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. For more detailed information regarding the
Company including its risk factors, investors are directed to the
Company's Annual Report on Form 20-F and other periodic reports
that it files with the U.S. Securities and Exchange Commission.
References to Measured & Indicated Mineral Resources and
Inferred Mineral Resources in this press release are terms that are
defined under Canadian rules by National Instrument 43-101 ("NI
43-101"). U.S. Investors are cautioned not to assume that any
part of the mineral resources in these categories will ever be
converted into Reserves as defined under SEC Industry Guide 7.
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content:https://www.prnewswire.com/news-releases/avino-provides-further-drill-results-from-its-2021-exploration-program-drills-32-2-metres-of-151-gt-ageq-at-the-brecha-de-bajo-vein-301456630.html
SOURCE Avino Silver & Gold
Mines Ltd.