Avino Silver & Gold Mines Ltd. [ASM-TSX, NYSE AMERICAN] has released results from exploration drilling at its Avino Mine property in Durango, Mexico. The objective of the drill program is to explore three target areas – Chirumbo, Guadelupe, and San Juventino – which are located outside the mining areas, to assess their potential.
Avino operates two producing mines on its Avino Property in Mexico. It is also planning for future production at the Bralorne Gold Mine in southern British Columbia.
The Mexican mines are the Avino and San Gonzalo. The San Gonzalo Mine is located approximately 2 km from the original Avino Mine and beneath the shallow workings of an old mine from the Colonial period. The Avino property yielded 2.7 million ounces of silver equivalent in 2017, a 1% increase from 2.67 million ounces in the previous year.
The company is currently engaged in expanding the milling operation at the Avino property to 2,500 tonnes per day, up from 1,500 tonnes. The expansion is now about 90% complete.
In the coming weeks the company is planning to release its outlook for 2018 and announce an updated NI-43-101-compliant mineral resource estimate for the Avino Mine.
Drilling results released on Tuesday are from 19 holes that targeted the Chirumbo, Guadelupe, and San Juventino areas.
“We are very pleased with the drill results from the Chirumbo area to the east of the Elena Tolosa mine as they show grade continuity and further extension of the main Avino Vein to the northeast,’’ said Avino President and CEO David Wolfin.
“The results from Guadalupe and San Juventino demonstrate additional mineralization between the current mining areas at Elena Tolosa and the San Gonzalo mines,” he said. “These are longer-term targets that warrant further investigation and drilling.”
Highlights from drilling in the El Chirumbo area, which is located east of the Avino vein, include 18.45 metres of 81.57 g/t silver, including 6.40 metres of 116.33 g/t silver. Drilling in that area is comprised of 10 holes or 2,000 metres, of which seven holes have already been drilled.
The area was partially mined prior to 1940 and is characterized by gold-rich mineralization in narrow vein (one metre in width) and the company believes there is potential to extend the mineralization.
The second area of drilling is located at the west end of the San Gonzalo Mine. The company said seven holes targeted the Guadelupe and Avino Veins in that area.
Drilling of the Guadelupe Vein has so far provided evidence for depth-constrained mineralization similar in nature to the San Gonzalo Vein. But exploration has been insufficient to allow for the calculation of a mineral resource estimate.