Avino Announces Final Results From the Northeast Block Q1-Q2 2019 Drill Campaign at the Bralorne Gold Mine

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*

And

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 veins

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

Hole Number

Description

From

(m)

To

(m)

Length

(m)

True Width

(m)

Au

(g/t)

SB-2019-014

Banded sheared quartz vein

68.35

69.35

1

0.64

1.45

SB-2019-015

Banded quartz vein

205

207

2

1.81

1.14

SB-2019-016

Brecciated quartz vein

272.62

273.23

0.61

0.53

1.07

SB-2019-016

Banded quartz vein

375

376

1

0.97

1.09

SB-2019-016

Sericitized shear

476.7

477.7

1

0.98

1.16

 

Hole Number

Description

From

(m)

To

(m)

Length

(m)

True Width

(m)

Au

(g/t)

SB-2019-017

Banded quartz vein

125.33

126.33

1

0.57

1.77

SB-2019-017

Banded quartz vein

131.25

132

0.75

0.38

2.14

SB-2019-017

Banded quartz vein

285

285.85

0.85

0.49

1.63

SB-2019-017

Brecciated quartz vein

491.62

493.2

1.58

0.91

1.58

SB-2019-018

Brecciated quartz vein

90.15

90.9

0.75

0.19

2.23

SB-2019-018

Brecciated quartz vein

94.75

95.35

0.6

N/A

2.37

SB-2019-019

Sericitized shear

33

34

1

0.50

1.31

SB-2019-019

Sericitized shear & quartz veins

47.5

51.5

4

3.94

2.12

Including

Brecciated quartz vein

48.5

50.5

2

1.97

3.47

SB-2019-019

Sericitized Shear

78.5

79.5

1

0.21

1.38

SB-2019-019

Sericitized shear & quartz vein

87

89

2

0.68

1.82

SB-2019-019

Banded quartz vein

91.8

92.8

1

0.26

1.86

SB-2019-019

Sericitized shear & quartz vein

159

161

2

N/A

1.19

SB-2019-020

No Significant assays

 

 

 

N/A

 

SB-2019-021

Sericitized Shear

23

24

1

0.50

1.74

SB-2019-021

Sericitized shear & quartz vein

141.5

144

2.5

0.86

1.57

SB-2019-022

No Significant assays

 

 

 

N/A

 

SB-2019-023

Sericitized shear & quartz veins

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

Brecciated quartz vein

246.72

247.22

0.5

0.34

1.6

SB-2019-023

Banded quartz vein

253.56

255.56

2

1.41

1.61

SB-2019-023

Banded quartz vein

263.75

264.9

1.15

0.88

3.87

SB-2019-023

Banded quartz vein

266

266.7

0.7

N/A

1.37

SB-2019-023

Sericitized Shear

268.75

269.9

1.15

N/A

2.31

SB-2019-023

Brecciated quartz vein

285.36

286.06

0.7

0.63

2.14

SB-2019-023

Sericitized shear & quartz vein

383

383.87

0.87

0.71

1.49

SB-2019-024

Sericitized shear & quartz vein

204.7

206.6

1.9

1.72

7.14

Including

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-2019-024

Sericitized shear & quartz vein

391

392

1

0.94

1.02

SB-2019-025

Sericitized shear & quartz vein

267

268

1

0.68

1.1

SB-2019-026

Banded quartz vein

228.5

229.5

1

0.50

2.09

SB-2019-027

No Significant assays

 

 

 

N/A

 

SB-2019-028

Banded quartz vein

78.35

79.09

0.74

0.31

1.7

SB-2019-028

Sericitized shear & quartz vein

131.85

132.35

0.5

0.29

2.55

SB-2019-028

Banded quartz vein

228.5

229.5

1

0.77

2.07

Hole Number

Description

From

To

Length

True Width

Au

 

 

(m)

(m)

(m)

(m)

(g/t)

SB-2019-029

Brecciated quartz vein

98.05

99.05

1

0.94

4.15

SB-2019-030

Brecciated quartz vein

369.5

370.5

1

0.91

1.43

SB-2019-031

Quartz vein breccia

245

248

3

0.88

2.06

SB-2019-031

Quartz vein breccia

257

267

10

2.59

3.06

Including

Quartz vein breccia

260

261

1

0.26

3.70

and

Quartz vein breccia

262

263

1

0.17

4.88

and

Sericitized shear

265

266

1

N/A

6.98

and

Sericitized shear & quartz vein

266

267

1

N/A

4.3

SB-2019-032

Sericitized shear & quartz vein

65

66

1

0.97

1.51

SB-2019-033

No Significant assays

 

 

 

N/A

 

SB-2019-034

No Significant assays

 

 

 

N/A

 

SB-2019-035

Sericitized shear & quartz vein

246.1

248

1.9

N/A

2.18

Including

Sericitized shear & quartz vein

246.1

247

0.9

N/A

3.23

SB-2019-035

Banded quartz vein

276.4

277.2

0.8

N/A

1.83

SB-2019-035

Brecciated quartz vein

322.25

322.96

0.71

N/A

2.57

True widths cannot always be determined with the information available

BP Gap Target – Q3 Drilling

Drilling is now underway in the historically underexplored gap between the Bralorne and Pioneer mines. Avino’s newly developed conceptual targeting model has highlighted two large volumes of prospective ground possessing direct structural and lithological similarities to areas which hosted the hugely productive 77 and 27 Veins. Historically, exploration drilling in this area was oriented orthogonal to the nearby 51B FW (Footwall) and Countless Veins, leading to a drill pattern which contains large gaps in some of the most prospective ground in the district.

Sampling and Assay Methods

Following detailed geological and geotechnical logging, drill core samples are sawed in half. One half of the core is submitted to the MSA Laboratory facility in Langley, BC, Canada, and the other half is retained on-site for verification and reference. Gold is assayed by 30 gram fire assay with an AAS finish (MSA method FAS-111). Any samples exceeding 1.0 gram/tonne gold are re-assayed using a 500 gram metallic screen process followed by 
30 gram fire assay (MSA method MSC-500). Multi-element analyses are also completed for each sample (MSA method ICP-130). 

Avino uses a series of standard reference materials (SRMs), blank reference materials (blanks), and duplicates as part of their QA/QC program during analysis of assays.

Qualified Person(s)

Avino’s Bralorne Gold Mine project is under the supervision of Fred Sveinson, B.A., B.Sc., P.Eng, Senior Mining Advisor, who is a qualified person within the context of National Instrument 43-101, and Mr. Garth Kirkham, 
P. Geo., Principal of Kirkham Geosystems Ltd., who is an “independent qualified person”, as defined by Section 1.5 of NI 43-101. Both have reviewed and approved the technical data in this news release.

About Avino

Avino is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in Mexico and Canada employing approximately 350 people. Avino produces from its wholly owned Avino and San Gonzalo Mines near Durango, Mexico, and is currently exploring and drilling at the Bralorne Gold Mine in British Columbia, Canada. The Company’s gold and silver production remains unhedged. The Company’s mission and strategy is to create shareholder value through its focus on profitable organic growth at the historic Avino Property near Durango, Mexico, and the strategic acquisition of mineral exploration and mining properties. We are committed to managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which we operate.

ON BEHALF OF THE BOARD

“David Wolfin”
_______________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.

Safe Harbor Statement - This news release contains “forward-looking information” and “forward-looking statements” (together, the “forward looking statements”) within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, including, but are not limited to, the Company’s ability to meet its production guidance, expectations of All-In Sustaining Cash Cost (“AISC”), information on the updated mineral resource estimate for the Company’s Avino Property located near Durango in west-central Mexico (the “Property”) with an effective date of February 21, 2018, and amended on December 19, 2018, prepared for the Company, and reference to Measured, Indicated, Inferred Resources referred to in this press release. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. No assurance can be given that the Company’s Property does not have the amount of the mineral resources indicated in the updated report or that such mineral resources may be economically extracted.

Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, directors or promoters with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the our common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

Cautionary Note Regarding Non-GAAP Measures

This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including silver equivalent ounces (AgEq oz) of production. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures reported by other companies. We believe that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate our performance. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Readers should also refer to our management’s discussion and analysis available under our corporate profile at www.sedar.com or on our website at www.avino.com.

 

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