Avino Silver Drills 1.35m of 451 g/t AG at Guadalupe
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/27/11 -- Avino Silver & Gold Mines (TSX VENTURE: ASM)(OTCBB: ASGMF)(NYSE Amex: ASM)(BERLIN: GV6)(FRANKFURT: GV6) (the 'Company' or 'Avino') is pleased to announce results of further drilling at the Guadalupe zone on the Company's property north-east of Durango, Mexico.
Hole Intersection Sil-
Hole # Azi- Length (Down Hole Gold ver Lead Zinc
Dip muth (m) Length (m)) (g/t) (g/t) (PPM) (PPM)
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GPE-11-13 54 333 113 76.95 - 77.2 (0.25) 0.007 216 96800 167000
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80.10 - 80.60 (0.50) 0.42 102 1140 8431
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GPE-11-14 76 334 132 119.85 - 122.15 0.24 199 N/A N/A
(2.30)
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includes: 121.20 - 122.15 0.31 363 81530 106363
(0.95)
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GPE-11-15 60 19 113 98.75 - 100.10 0.12 451 64244 115433
(1.35)
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GPE-11-16 70 25 149 100.60 - 102.00 0.84 3 26 158
(1.40)
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GPE-11-17 40 18 88 70.65 - 71.95 (1.30) 1.34 79 3555 1410
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GPE-11-19 69 350 11 104.75 - 106.40 0.1 21 2427 9148
(1.65)
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GPE-11-23 62 321 183 170.55 - 171.75 0.24 296 17800 24300
(1.20)
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GPE-11- No significant gold or silver values
18,20,
21,22
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As shown in the longitudinal section on Avino's website (http://www.avino.com), we have drilled 23 holes at Guadalupe to date. Holes are concentrated in two areas at either end of an approximate 800m strike length. Avino's next phase of drilling at Guadalupe will aim to fill in the gaps.
We have moved our drill rig back to the San Gonzalo vein to test the vein at depth. Avino drilled 40 holes at San Gonzalo in 2007 and a further 7 holes in 2008. Drilling stopped due to global financial market conditions not for geological reasons. Therefore, we are optimistic that we can extend San Gonzalo's mineralization at depth. Once drilling on San Gonzalo is complete we will mobilize the drill back to the Guadalupe vein. Management feels that the Guadalupe area could become a significant source of future mill feed.
Holes are drilled using Avino's own Longyear 44 core rig at thin wall NQ diameter. Core is sawed at Avino's core storage facility at the secure mine site. Samples of vein material, usually from a few centimeters to 1.5m, are placed in plastic bags. The sealed sample bags are collected by personnel from Inspectorate Labs in Durango at the mine site facilities.
Gold analyses are by 30-gram fire assay with an atomic absorption finish. Silver, zinc and lead are analyzed as part of a multi-element inductively coupled argon plasma ('ICP') package using a four-acid digestion with over-limit results for silver being reanalyzed with assay procedures using fire assay and gravimetric. The Company employs a rigorous quality control program that includes standardized material, blanks and core duplicates.
The project is under the supervision of Chris Sampson, P.Eng, BSc, ARSM Avino Consultant, who is a qualified person within the context of National Instrument 43-101 and has prepared and approved the technical data in this news release.
Founded in 1968, Avino's mission is to create shareholder value through profitable organic growth at the historic Avino property near Durango, Mexico. We are committed to managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the community in which we operate.
Our primary goal is to build a multi-million ounce-per-year silver producer. Our specific objectives are to achieve full time commercial production as soon as possible, expand resources, reserves and the mines output as well as to identify, explore and develop new targets on the property.
Avino remains in a good financial position; is debt free and well-funded to continue its development plans.
ON BEHALF OF THE BOARD
David Wolfin, President
This press release includes certain 'Forward-Looking Statements' within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Avino Silver & Gold Mines Ltd. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Avino Silver & Gold Mines Ltd.
David Wolfin
President
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com