 |
| |
| | Mon Jan 19, 2004
Drilling Starts on the Olympic-Kelvin Property
|
| | Avino Silver and Gold Mines Ltd. ("the company") is pleased to announce that exploration has resumed on the company's Olympic-Kelvin Property ("the property"). The property consists of 20 reverted crown grants, one 15 unit mineral claim and three fractions totaling approximately 662.5 hectares, located on the south side of Carpenter Lake, five kilometers northeast of Goldbridge in the Lillooet Mining Division, British Columbia, Canada, NTS 092J15. The property is owned 100% by the company.
The property is easily accessible by the all weather, publicly maintained, Grey Rock logging road northeast from Goldbridge. Access on the property is possible on a number of cat trails built by the company and previous operators.
The property covers rocks of the Pioneer Formation and Bridge River Terrane. These rocks are cut by northwest trending regional scale structures sub-parallel to the Ferguson and Cadwallader Structures. The structures on the property are roughly the same distance from the Upper Cretaceous-Tertiary granitic Bendor Intrusions as the Bralorne/Pioneer mines. These mines are the largest past producers in the Canadian Cordillera (4.1 million ounces) and are presently being put back into production by Avino's sister company, Bralorne - Pioneer Gold Mines Ltd. The Bendor Intrusions are a postulated source for the gold mineralization at Bralorne, which is thought to be localized by a northwest to north flexure in the Cadwallader structure. A similar flexure is present in the northwest trending structures on the Olympic-Kelvin property. These structures on the property are mineralized with gold and silver and have received considerable past work, including at least four adits.
A trenching and drilling program, carried out on the property in 1988 by Game and Sampson, outlined two very interesting areas that warrant more work. In the Margarita area, hole OLY 88-4 returned 24 g/ t gold over 0.85 metres (0.773 opt over 2.8') within a much wider intersection of 8.2 g/t gold over 3.48 metres ( 0.264 opt over 11.48'). The true width of this zone is estimated to be 1.47 metres (4.9'). A large part of the zone is listwanite, indicating the potential for better grade mineralization immediately below this intersection. Hole OLY 88-6 cut the same zone 75 metres to the northwest and returned 4.26 g/t gold over 1.34 metres ( 0.137 opt over 4.4') within an eight metre section (5.6 m [18.4'] true width) of mainly listwanite. The area of these intersections is approximately 50 metres off of the Greyrock Road and could be easily accessed for mining purposes by an underground ramp from the road.
Three diamond drill holes, totaling 480 metres, are planned to test the Margarita Zone below drill holes OLY 88-4 and 88-6. If these holes are successful in confirming and extending the mineralization intersected in holes OLY 88-4 and 88-6, further work is planned to develop underground access to this zone. Mineralization developed by this work could be trucked 16 kilometers to the Bralorne mill for processing.
The other very interesting area outlined by Game and Sampson is the Enigma Zone. This zone is a colour anomaly on the south shore of Carpenter Lake on Lot 6280, approximately 700 metres east north-east of the Margarita Zone. Trenching revealed a quartz stock work zone with areas of abundant stibnite. Sampling returned 1.7 g/t gold over 21 metres ( 0.055 opt over 69') within a 75 metre ( 246') mineralized zone. This is a very wide zone for the Bridge River Camp and, if the zone has significant strike length, it could be amenable to open pit mining. This zone will be tested with one 150 metre diamond drill hole.
Drilling will commence on or about the 21st of January. This phase of work should be completed by the 31st of January, with assay results available by the 15th of February. This News Release has been reviewed and technical content approved by David St. Clair Dunn, P.Geo., a Qualified Person for the purposes of N.I. 43-101. Mr. Dunn will be supervising the outlined diamond drilling program.
This News Release has not been approved or disapproved by any stock exchange.
ON BEHALF OF THE BOARD OF DIRECTOR'S OF
AVINO SILVER AND GOLD MINES LTD.
s/ "David Wolfin"
David Wolfin, President
For more information please visit our web site: www.avino.com
e-mail: shares@avino.com |
| |
| | You can view the Next News Releases item: Tue Mar 23, 2004, Letter Of Intent To Purchase The Remaining 51% Equity Interest In Cia Minera
You can return to the main News Releases page, or press the Back button on your browser.
|
| |
