VANCOUVER, BRITISH
COLUMBIA--(Marketwire - March 4, 2010) - Avino Silver & Gold Mines Ltd.
(TSX VENTURE:ASM)(OTCBB:ASGMF)(BERLIN:GV6)(FRANKFURT:GV6) ("Avino") is pleased to provide the following update
on the San Gonzalo Bulk Sampling Program. Since January 15 of this year, the
mining contractor (DMG) has advanced a total of 119 metres of the 4m x 4m
decline with about 111 metres to go before reaching the San Gonzalo vein. At
the current rate of advance, it is expected the decline will be completed by
late March to early April. The mining method selected for the bulk sample is
shrinkage/stope with drifts heading East and West from the point of the decline
intersection with the vein.
It
is interesting to note during the advance of the decline, a small vein was
intersected on February 4. Mineralization and rusty brown staining of the vein
material were noted. This is encouraging and suggests that there could be
other potential unknown parallel veins or structures that could be encountered
while driving the ramp.
Construction
of the mine surface facilities near the entrance to the decline is making good
progress, the fuel storage tank with its containment is nearly complete and
foundations for the mechanic shop and mine office have been poured with roof
and cladding to be installed.
At
the process plant, the issues with the power company (CFE) have been resolved
and commissioning of the new jaw crusher has been completed with no major
mechanical or electrical deficiencies. The 41/4ft Symons cone crusher with all
new bushings and socket liner is slated for testing this week together with the
8x6 ball mill.
Laboratory
supplies are currently being purchased in preparation for putting the mine
laboratory facilities back into service with the hiring of the assayer. The new
AA machine is now on site and commissioning, training and testing is scheduled
to begin once a suitable date with the supplier can be arranged.
Metallurgical
testing of stockpile material has been completed by SGS Labs in Durango. The
results show a reasonable copper concentrate of about 18% copper can be
generated with approximate recoveries of 78%, 72% and 60% for copper, silver
and gold respectively.
Discussions
are underway with potential buyers of this copper concentrate product together
with the product expected from the San Gonzalo bulk sample. Economics can then
be updated to confirm those used previously.
According
to the mine records, there are approximately 30,000 tons of older stockpile
materials grading 0.41% Cu, 90g Ag/t and 1.1g Au/t that are available for
tuning up the refurbished 250tpd plant circuit.
Founded
in 1968, Avino has established a long record of mining and exploration in
Mexico. The Company's focus is to bring the property to production. Avino
remains well funded.
ON BEHALF OF THE BOARD
David
Wolfin, President
This release contains
statements that are forward-looking statements and are subject to various risks
and uncertainties concerning the specific factors disclosed under the heading
"Risk Factors" and elsewhere in the Company's periodic filings with Canadian
securities regulators. Such information contained herein represents
management's best judgment as of the date hereof based on information currently
available. The Company does not assume the obligation to update any
forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.