Avino Reports 4.75 Million Ounce Silver Resource From San Gonzalo Zone
Avino Silver & Gold Mines Ltd. ("Avino" or the "Company") is
pleased to announce the completion of the first NI 43-101 resource
calculation from the company's San Gonzalo deposit at the Avino Mine
holdings near Durango in west-central Mexico. The inferred resource,
compiled by Dave Gunning, P.Eng., of Orequest Consultants Ltd.
("Orequest"), concerns the San Gonzalo vein only. Orequest estimated
the resource contained 4.75 million ounces of silver and 37,300 ounces
of gold, calculated as follows:
Ag Au Zinc Lead
Tonnes g/t g/t % %
444,250 332 2.61 1.5 1.0
The figures were compiled from surface drilling at San Gonzalo (January
to December 2007, 40 holes, 9,204 metres), which produced some
significant silver intersections as reported in our May 26, 2008 news
release.
In his report to Avino, Dave Gunning noted: "Polygons were created
around drill holes based on a cutoff grade of 150 grams per tonne
equivalent silver (a 50:1 ratio of gold to silver was used) and minimum
vein thicknesses of 1.2 metres. The average density measured by staff
was 2.64 which was used to calculate polygonal tonnage. Individual
high-grade samples (a total of 4) were cut to 1500 g/t silver."
Gunning also reported that approximately 43,000 tonnes of material
surrounded the existing San Gonzalo mine workings which, based on
historic sample results, was estimated to grade 596 g/t silver. No gold
assays were available, and the results could not be verified nor could
the actual outlines of the workings. Recent drilling has, however,
helped to validate the grades. This tonnage will remain historic in
nature until further development can make the figures more reliable.
"We are extremely encouraged by the San Gonzalo resource figures," said
Avino President David Wolfin. "This area of the property holds
significant expansion potential, and we will focus our near-term
exploration on both upgrading and increasing the current resource."
Based on the results, Avino is proceeding with a 10,000-tonne bulk
sample of San Gonzalo ore. The bulk sample will confirm grade and
tonnage of a specific block of ground in the core of the deposit and
compare grade with that from the surface drilling. It will also provide
concentrate for testing at various smelters. Concurrently, the company
is re-commissioning the Avino mill to process the sample at the rate of
250 tonnes per day.
This news release was reviewed by Dave Gunning, P.Eng., a qualified person under NI 43-101.
Founded in 1968, Avino has established a long record of mining and
exploration. The Company's focus is the acquisition and aggressive
exploration of top silver prospects throughout North America. Avino
remains well funded.
ON BEHALF OF THE BOARD
"David Wolfin"
David Wolfin, President
