Avino Updates Progress at San Gonzalo
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/14/12 -- Avino Silver & Gold Mines Ltd. ("Avino" or "The Company") (TSX VENTURE: ASM)(NYSE Amex: ASM)(BERLIN: GV6)(FRANKFURT: GV6) is pleased to provide the following update on the progress made at its San Gonzalo Mine located 82 KM NE of Durango, Mexico.
The decline to the fourth level is nearly complete with only 79 m remaining until level four is reached. A 40 m cross cut will then be driven to access the San Gonzalo vein on the fourth level. Avino will then drift along the vein and collect channel samples. We expect to be in the vein on level 4 by July. Please see the map on Avino's website (http://www.avino.com/i/pdf/PlanoDeMuestreoN-3.pdf) for details.
On the third level, Avino has drifted 94.9 m to the North West and 124.89 m to the South East along the vein; sampling and assay results from along the vein are as follows.
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Vein
Strike Average Individual
Length Width Sample Gold Silver Lead Zinc Copper
Area (m) (m) Width (g/t) (g/t) (%) (%) (%)
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North
West
of
Cross
Cut 4.33 2.7 0.953 289 0.08 0.23 0.02
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Including:
L-60W 1.4 0.990 411.3 0.1043 0.2678 0.0252
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L-62W 0.55 1.234 451.4 0.0989 0.2715 0.0425
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0.65 0.680 305.3 0.0624 0.4376 0.0471
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0.8 0.959 225.3 0.0319 0.2154 0.0148
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0.35 0.696 382.3 0. 0556 0.3821 0.0235
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13.28 2.77 0.704 146 0.34 0.4 0.03
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Including:
L-51W 0.5 1.278 319.9 3.82 3.63 0.147
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L-54W 1 2.616 528.7 0.1952 0.2605 0.0446
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L-55W 1.2 1.676 607.5 0.318 0.6036 0.0396
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L-57W 1.2 2.459 246 0.0549 0.1933 0.0212
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L-58W 1.25 0.798 359.9 0.153 0.2937 0.0399
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7.5 1.53 0.13 34 0.12 0.6100 0.03
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9.01 2.3 0.75 213 0.19 1.15 0.05
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Including: 0.9 1.005 225.4 0.2816 3.18 0.0263
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L-41W 0.65 1.353 653.2 0.3813 1.54 0.049
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L-44W 0.7 1.079 663.8 0.243 0.9504 0.0729
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L-45W 0.4 1.015 749.7 0.1511 0.4027 0.0586
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15.33 2.02 0.376 42 0.12 0.31 0.02
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15.68 2.2 0.508 126 0.027 0.07 0.003
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Including:
L-20W 0.55 0.695 339.9 0.1592 0.03491 0.0617
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L-22W 0.50 2.955 2684.7 0.4313 0.4481 0.0349
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L-24W 0.50 2.507 571.4 0.2481 0.5343 0.0541
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L-27W 0.4 1.577 1377 0.2796 1.07 0.047
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4.81 1.73 0.139 51 0.007 0.025 0.007
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Including:
L-16W 0.50 1.317 706 0.2344 0.34 0.0729
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7.97 1.69 0.45 203 0.2426 0.3246 1.469
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Including:
L-12W 0.50 1.099 1025.6 0.193 0.2334 0.0765
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16.99 1.23 0.37 58 0.3235 0.4224 1.38
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Including:
L-6W 0.30 3.074 395.3 3.3 0.5167 2.14
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L-7W 0.50 2.451 229.7 0.2991 0.1684 0.9984
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94.9 1.99
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South
East
of
Cross
Cut 15.08 1.6 0.513 90 0.089 0.38 0.091
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Including: 0.9 1.589 215 0.0618 0.2054 0.0166
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L-6E 0.9 2.699 445 0.00896 0.2016 0.0135
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19.03 2.01 1.06 277 0.829 1.021 0.058
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Including:
L-12E 0.7 1.759 4358.8 1.83 1.54 0.1304
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L-14E 1.2 1.275 322 0.1359 0.5529 0.025
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0.8 3.538 460 0.1884 0.605 0.0479
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L-17E 0.4 6.037 219 6.02 12.27 0.3053
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0.4 0.872 602 0.4677 0.746 0.0505
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L-20E 0.8 1.944 689 0.2844 0.7389 0.1288
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L-21E 0.5 2.909 1756.9 0.4395 0.9622 0.1015
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L-23E 0.4 3.365 2453.8 0.4767 1.06 0.1171
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8.21 1.85 0.21 34 0.253 0.68 0.011
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23.14 2.75 0.916 431 0.276 0.657 0.026
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Including:
L-31E 0.7 0.908 527 0.1778 0.7445 0.0157
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L-32E 0.95 2.061 1233 0.2243 0.6851 0.0394
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L-33E 0.65 1.053 603 0.1741 0.591 0.0309
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0.55 2.606 2719.3 1.26 1.59 0.1296
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L-34E 0.95 2.889 1635 0.7876 1.28 0.041
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L-38E 0.6 1.555 1492 0.2565 0.6088 0.0414
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L-39E 0.7 0.603 303 0.0975 0.1529 0.0203
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1.1 2.29 1770.7 0.2642 0.2195 0.0424
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L-41E 1 1.032 589 0.0806 0.165 0.0204
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0.2 0.366 676 0.1782 0.4123 0.0281
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L-42E 0.6 1.427 1402 0.1562 0.2879 0.0487
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0.8 2.111 1851.4 0.7683 0.9447 0.0525
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0.9 2.556 1117 0.3795 0.2116 0.0449
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0.4 1.923 4894.7 1.2900 0.2659 0.1001
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L-43E 1.1 1.347 884 0.1547 0.372 0.0278
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0.65 6.397 5348.4 2.53 1.94 0.1204
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6 1.96 0.244 72 0.66 0.316 0.036
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5.79 1.77 0.169 44 0.083 0.584 0.013
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77.25 2.11
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The remaining 47.6 m of vein is still of mineable-width but grades are low (see website).
Stope development has started on the third level on the 172.15 m length of vein. Raises have been completed to join level three stopes to level two. Average width of the vein shown above are calculated from 3 to 6 channel samples collected from one metre spaced lines across the vein and surrounding wall rock.
Samples were shipped to Inspectorate labs for analysis for Au, Ag, AS, Bi, Cu, Mo, Pb, Sb, Zn and Hg. Samples were crushed and ground in Durango with pulps assayed in Reno, NV using fire assay and AA finish for gold, four acid digestion and AA for most silver with fire assay and gravimetric finish for very high silver, Aqua Regia digestion and ICP for base metals.
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 become a significant low cost primary 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.
ON BEHALF OF THE BOARD
David Wolfin, President & CEO
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 & CEO
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com