Avino Silver & Gold Mines Ltd. [ASM-TSX, ASM-NYSE; GV6-FSE] reported the results of four drill holes from below Level 17, the current deepest workings at the Elena Tolosa (ET) area of the Avino system at the wholly owned Avino Mine near Durango, Mexico.
In July, the company reported the best drill intercept in the company’s history with a step-out drill hole in the same area. These latest deep step-out holes test the SW extent of the robust Avino vein and one infill hole was drilled to confirm local continuity. The current drilling follows the continuity of the steeply dipping mineralization and aids in understanding the deep source of the mineralization. Avino has enlisted a number of world-renowned consulting geologists to contribute to the geological understanding of the mineralization characteristics. The known depth extent to date of at least 750 metres of mineralization is significant and is unusual in comparison with most Mexican epithermal deposits.
Selected Intercept Highlights include Hole ET 23-13 that returned 0.70% Cu, 31 Ag g/t and 0.21 Au g/t over 44.40 metres true width, including 1.10% Cu, 42 Ag g/t and 0.58 Au g/t over 9.85 metres true width.
Hole ET 23-10 returned 0.39 % Cu, 36 Ag g/t and 0.07 Au g/t over 27.15 metres true width, including 0.47% Cu, 59 Ag g/t g and 0.09 Au g/t over 13.2 metres true width.
“We are excited to report that we hit substantial widths at grades well above our current cutoff grade on all four drill holes as we look to define the mineralization limits at depth,” said David Wolfin, President and CEO. “In addition, we have continued to define the hanging wall breccia which is an offshoot of the main Avino Vein that originates from surface. The access to this breccia is relatively easy through existing development works and we are currently evaluating a mine plan to incorporate these resources into our near to medium term plans. We were also surprised with an intersection of a stock work vein close to surface which indicates the complex and distributed nature of the stockwork system that accompanies the thick, main Avino vein. We will take these results and incorporate them into the next phase of our exploration plans.”
Avino is developing a geological model based on a “near porphyry” environment because of the increasing copper grades with depth. The persistence of silver and copper grade continuity from surface down a plunge distance of over 1,100 metres with increasing copper grades supports the possibility of a deeper mineralized system which may be linked to a porphyry centre.
Geological modelling is ongoing to determine the potential geometry and controls of the mineralization. Avino has completed its planned and budgeted drilling program for the year by drilling 7,545 metres in 13 drill holes. The team of geologists on site are working through the recommendations made by the structural geologists to further study the potential of the entire ore body. The 2023 results will be further reviewed to determine exploration plans and budget for 2024.
Below Level 17 Four holes totalling 2,040 meters, were drilled below Level 17 in this drill campaign. They were completed to investigate the continuity of mineralization in the central part of the ET Area of Avino system. All four holes intercepted mineralization within the vein and stockwork that have silver equivalent grades above the current cut off grade in the latest mineral resource estimate.
Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The company’s silver and gold production remains unhedged. Avino currently controls mineral resources, as per NI 43-101, that total 368 million silver equivalent ounces, within its district-scale land package.