Avino Silver & Gold Mines (TSXV:ASM) (NYSE AMEX:ASM) Intersects 142 Grams Per Tonne Silver over 28.8 Metres at Avino Mine in Mexico - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 5, 2012 - Vancouver based Avino Silver & Gold
Mines (TSXV:ASM) (NYSE AMEX:ASM) announced results from the first hole of the
2012 drill program on the Elena - Tolosa zone in Mexico. The hole intersected
142 grams per tonne silver and 0.352 grams per tonne gold, along with 0.481%
copper over 29 metres, starting at the 246 metre level.
InvestmentPitch.com has produced a "video news alert" which provides a summary
of this news. If this link is not enabled, please visit www.InvestmentPitch.com
and enter "Elena-Tolosa" in the search box.
This hole is the first of a 11 hole program to explore an area of the main Avino
vein system below the 12(th) level of the mine, where the company ceased mining
in 2001 due to low metal prices and closure of a key smelter. The drill is
currently on hole #5 and results will be released as they are received. A
detailed map showing all the holes is available on the company's website.
At the time of the closure, mine staff reported non NI 43-101 compliant
resources of 1.7 million tonnes at 100 grams per tonne silver, 0.92 grams per
tonne gold, and 0.63% copper, mostly below level 11.
In February, Avino announced a new agreement allowing the company to once again
mine the main Avino vein.
The company stated that the 2012 drill program on the Avino vein is intended to
increase confidence in the resource as well as to expand tonnage and is the
first step towards bringing the mine back on line. When the 2012 drill program
is completed, the new results will be combined with results from the 30 holes
drilled between 2006 and 2012, to compute a new NI 43-101 compliant resource
estimate of the potential below the 12(th) level.
The company's property is located 80 kilometres northeast of Durango, Mexico, in
the heart of the Sierra Madre Silver Belt.
Avino has operated continuously in Mexico since 1968, including a period in
which the Avino Mine produced for 27 years.
A short distance from this project, the company is actively developing the
3(rd), 4(th) and 5(th) levels of the mine at the San Gonzalo zone.
Avino expects to commence full commercial production at 250 tonnes per day at
its mill, once enough mill feed from the San Gonzalo zone is stockpiled at the
surface. At the end of 2011, there was approximately 8,500 tonnes stockpiled.
Managements believes that all three of these items will play an important role
in Avino's goal of becoming a multi-million ounce annual silver producer.
The shares currently trade at $1.90, and with approximately 27 million shares
outstanding, the company is capitalized at $51 million. Avino remains in good
financial position; is debt free and well-funded to continue its development
plans.
For more information, please visit Avino's website at www.avino.com, phone
604-682-3701 or email ir(at)avino.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing short three minute videos based on significant news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 06.04.2012 - 01:18 Uhr
Sprache: Deutsch
News-ID 132778
Anzahl Zeichen: 4209
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Kategorie:
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