Avino Drills Best Intercept IN Company History
ASM: TSX/NYSE American
Avino Silver & Gold Mines Ltd. T (604) 682 3701
Suite 900-570 Granville Street F (604) 682 3600
Vancouver, BC V6C 3P1 www.avino.com
July 5, 2023
AVINO DRILLS BEST INTERCEPT IN COMPANY HISTORY
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, "Avino" or "the Company") release s the
results of three drill holes from below Level 17, the current deepest workings at the Elena Tolosa (“ET”) Area of
the Avino system. Previously, the Company reported the extension of the Avino Vein to a further 500 metres
downdip below the lowest current production mining level. Drill Hole ET -23-09 shows 57 metres true width of
mineralization and is a step out 50 metres to the west of Avino’s most westerly drill hole at 200 metres downdip
below Level 17. This continuing exploration program is testing the continuity of the steeply dipping mineralization.
Avino has enlisted several world-renowned consulting geologists to contribute to the geological theory to drive
understanding of the mineralization characteristics. The depth extent of at least 750 metres of known
mineralization is unusual in comparison with most Mexican epithermal deposits.
Selected Intercept Highlights:
• Hole ET 23-09: 296 AgEq g/t over 57 metres true width, including 407 AgEq g/t over 37 metres true
width and 2,866 AgEq g/t over 3.43 metres true width (To view images of the corresponding core,
please click here)
• Hole ET 23-07: 230 AgEq g/t over 11 metres true width
Details are shown in the table and images below.
"We stepped out, at depth and along strike, with Hole ET-23-09 and were handsomely rewarded with the best
drill hole in the Company’s 55-year history,” said David Wolfin, President and CEO. “ The exceptionally wide and
very high, silver, gold and copper grades are extremely encouraging for our continued exploration of the Avino
vein and associated stockwork and breccia at depth and suggests a much more complex mineralization system .
We are still open along strike and at depth and we will continue to try to understand the sour ce of the
mineralization as we explore for the source intrusive, porphyry or phreatomagmatic interface. The drill intercept
widths are in line with our understanding of the Avino vein and represent minable areas to be contemplated for
the future of the mine with grades that are almost 5 times the current cutoff grade.”
Avino is developing a geological model based on a “near porphyry” environment because of the increasing copper
grades. The persistence of grade continuity from surface down a plunge distanc e of over 1,100 metres ( 800
metres) with this copper increase supports the possibility of a deeper mineralized system and may be linked to a
porphyry centre.
Geological modelling is ongoing to determine the potential geometry and controls of the mineralization. Our drill
program continues for the rest of 2023 with 2,100 more metres planned for the year to bring the total to 8,000
metres for the year.
N E W S R E L E A S E
July 5, 2023 - Avino Silver & Gold Mines Ltd. – News Release
AVINO REPORTS BEST INTERCEPT IN COMPANY HISTORY
Page 2
Geological Description
The Property contains numerous low -sulphidation epithermal veins (including the Avino vein), breccias,
stockworks, and silicified zones that grade into a possible “near porphyry” environment within a large caldera
setting. This caldera has been uplifted by regional north -trending block faulting (a graben structure) exposing a
window of andesitic pyroclastic rocks of a lower volcanic sequence within this caldera. The lower volcanic
sequence is overlain by an upper volcanic sequence consisting of rhyolite to trachyte lava flows and extensive
ignimbrites. The direction of the increasing copper grade plunges steeply towards the east in the Avino vein. The
changing tenor of the mineralization could be reflecting a transition from epithermal to porphyry -style
mineralization.
Below Level 17
Three holes were drilled below Level 17 in this latest drill campaign totalling 2,004 metres drilled. They were
completed to investigate the continuity of mineralization in the central part of the ET Area of Avino system. All
three 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. The results and are reported below in Table 1.
Vein-type mineralization and stockwork containing silver, gold and copper are found along the contacts between
intrusive rocks and an andesite. This provides opportunities within the ET Area for the identification and
delineation of additional mineral resources that remain open on strike and dip (see Figure 1 for the projections of
the resource relative to the drilled holes). This recent drilling confirms that mineralization persists to the west
along strike at depth and that there is the potential for high grade silver within the increasing copper grades that
have been drilled at depth.
Table 1 – Summary Drill Results
1. AgEq in drill results below assumes $22.00 oz/ Ag and $1,850/ oz Au and $4.00/ lb. Cu, and 100% metallurgical recovery.
2. STW = Stockwork Veins
From To True width Au Ag Cu AgEq¹
(M) (M) (M) (G/T) (G/T) (%) (G/T)
STW ET-23-07 633.7 651.9 18.20 12.80 0.03 3 0.11 19
Avino Vein 651.9 666.45 14.55 11.00 0.12 148 0.58 230
STW ET-23-08 667.25 679.3 12.05 7.60 0.02 13 0.30 52
STW 679.3 694.5 15.20 10.20 0.11 138 0.33 188
Avino Vein 718.55 726.5 7.95 6.00 0.04 5 0.03 12
Avino Vein ET-23-09 444.75 508.8 64.05 57.00 0.55 99 1.21 296
Including 467.25 508.8 41.55 37.00 0.78 143 1.59 407
Including 500.35 500.7 0.35 0.31 0.15 169 11.78 1649
Including 504.15 505.05 0.90 0.80 1.74 956 7.30 2012
Including 505.05 506.05 1.00 0.89 1.98 1243 5.81 2133
Including 506.05 507 0.95 0.85 16.50 1791 8.69 4261
Including 507 508 1.00 0.89 10.60 1083 8.58 3043
Including 508.45 508.8 0.35 0.31 0.79 346 15.63 2359
Structure Hole
Number
Drill
Intercept
Length (M)
July 5, 2023 - Avino Silver & Gold Mines Ltd. – News Release
AVINO DRILLS BEST INTERCEPT IN COMPANY HISTORY
Page 3
Figure 1 –Longitudinal view of the Avino Vein showing the drill hole locations and a projection of the
mineralization in red.
Figure 2 –Longitudinal view of the Avino Vein showing the drill hole locations and the block model in AgEq.
July 5, 2023 - Avino Silver & Gold Mines Ltd. – News Release
AVINO DRILLS BEST INTERCEPT IN COMPANY HISTORY
Page 4
Figure 3 –Cross-Section of ET-23-09 and the extent of the down-dip extension from the current mine workings.
Sampling and Assay Methods
Following detailed geological and geotechnical logging, selected drill core areas were cut in half. One half of the
core was submitted to the SGS Laboratory facility in Durango, Mexico, and the other half was retained on-site for
verification and reference . Gold is assayed by fire assay with an AA finish. Any samples exceeding 3.0 gold
grams/tonne are re-assayed and followed by a gravimetric finish. Multi-element analyses are also completed for
each sample by SGS ICP14B methods. Any copper values exceeding 10,000 ppm (1%) are assayed using ICP 90Q.
Silver is fire assayed with a gravimetric finish for samples assaying over 100 grams/tonne. Avino uses a series of
standard reference materials, blank reference materials, and duplicates as part of their QA/QC pr ogram during
assaying.
Qualified Person(s)
Avino’s projects in Durango, Mexico are under the geoscientific oversight of Michael F. O’Brien, P.Geo., Senior
Principal Consultant, Red Pennant Communications, and under the supervision of Peter Latta, P.Eng, Avino’s VP,
Technical Services, who are both qualif ied persons within the context of NI 43 -101. Both have reviewed and
approved the technical data in this news release.
July 5, 2023 - Avino Silver & Gold Mines Ltd. – News Release
AVINO DRILLS BEST INTERCEPT IN COMPANY HISTORY
Page 5
About Avino
Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver and gold
production remains unhedged. The Company’s mission and stra tegy is to create shareholder value through its
focus on profitable organic growth at the historic Avino Property and the strategic acquisition of the La Preciosa
property. Avino currently controls mineral resources, as per NI 43 -101, that total 368 millio n silver equivalent
ounces, within our district -scale land package. We are committed to managing all business activities in a safe,
environmentally responsible and cost-effective manner, while contributing to the well-being of the communities
in which we operate.
We encourage you to connect with us on Twitter at @Avino and on LinkedIn at Avino Silver & Gold Mines. To view
the Avino Mine VRIFY tour, please click here.
Note: All Avino Silver & Gold Mines Ltd. drill results are detailed in separate news releases and these releases are
available on our website at www.avino.com and on our SEDAR profile at www.sedar.com.
On Behalf of the Board
“David Wolfin”
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
This news release contains “forward -looking information” and “forward -looking statements” (together, the “forward looking statements”) within the meaning of applicable
securities laws and the United States Private Securities Litigation Reform Act of 1995, including the amended mineral resource estimate for the Company’s Avino Property located
near Durango in west -central Mexico (the “Avino Property”) with an effective date of January 13, 2021, and as amended on December 21, 2021, and th e Company’s updated
mineral resource estimate for La Preciosa with an effective date of October 27, 2021, prepared for the Company, and references 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. 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 auth orities, 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; operationa l risks associated with mining and mineral processing; the COVID -19 pandemic; volatility in the global financial markets; fluctuations
in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environment al 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 uncertaintie s. 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 un due 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. For more detailed information regarding the Company
including its risk factors, investors are directed to the Company’s Annual Report on Form 20 -F and other periodic reports that it files with the U .S. Securities and Exchange
Commission.