INTERCEPTS 12.35 G/T GOLD OVER 0.91 METER AND 3.06 G/T GOLD OVER 2.6 METRES
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 (m) To (m) Length (m) True Width (m) Au (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*
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 vein 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
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