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Avino Silver & Gold Mines

Mining Companies - Silver Companies

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Avino Silver & Gold Mines is an experienced, Vancouver based mining and exploration firm with properties in Mexico and Canada. The company's primary goal is to reactivate the Avino silver-gold-copper-zinc-lead mine in Mexico, which was operated for 27 years beginning in 1974. Current metal markets and high-grade discoveries on the property's San Gonzalo vein have greatly improved the economics and feasibility for potential production. Avino also holds precious metals properties in British Columbia and the Yukon Territory. The Company is listed on the Toronto Venture Exchange under the symbol (ASM) and OTC under (ASGMF)

Annual Trading Range .65-2.65

Trading on 14 Dec 2010 at 2.65

Share Structure


Shares Issued:






Fully Diluted:



Key objectives for 2010:

Execute the San Gonzalo bulk sample program.

Continue developing the San Gonzalo resource

Resume production as quickly as possible

Expand resources, reserves and the mines output

Identify and explore new targets on the property


Avino Silver and Gold Mine

The Avino mine was once described by Spaniards as "a mountain of silver."

The mine first opened in the 1500s and reportedly supplied considerable wealth to Spain for hundreds of years. It has operated intermittently ever since, including for 27 years under Avino Silver & Gold Mines beginning in 1974. During the three decades that the mine was in production under Avino, silver grades averaged from 3 to 7 ounces per ton with more than 16 Moz of silver, 96,000 oz of gold and 24Mlb of copper produced through both open pit and underground mining. The mine shut down in 2001 due to low silver prices and closure of a key smelter. As metals prices are once again favorable, Avino is working to re-open the mine through exploration and development of high potential zones close in proximity to its 1250 tpd mill.

San Gonzalo zone

The San Gonzalo zone is located 2 km from the original Avino mine and beneath the shallow workings of an old mine from the colonial period. In 2007-08 Avino conducted a 42-hole, 9,204 meter drill program that produced very encouraging results, including 3908 g/t silver and 13.71 g/t gold over 1.45m. In late 2008, Orequest Consultants completed an NI 43-101 resource calculation for San Gonzalo, and estimated the zone contained 4.75 million ounces of silver and 37,300 ounces of gold.

The Inferred resource was calculated as follows:

















Based on the results, Avino is proceeding with a 10,000-tonne bulk sample of San Gonzalo ore. The bulk sample will allow us to assess the economics of the zone and confirm mineral grades obtained through diamond drilling.

With all necessary permits in place, Avino has engaged the mining contractor DMG for development work and extraction of the bulk sample. DMG began driving a decline to access the vein in December 2009.

Avino Vein and the Elena Tolosa Zone

The Avino vein served as Avino's primary source of ore during the 27 years of production. The vein is 1.6km long and 60M wide on the surface and has yet to be mined at depth. To date, the deepest level mined was at the 2,070m level (330m below surface). Currently, the company is exploring an area of the Avino Vein called the Elena Tolosa or ET zone that has a target potential of 2Mt with grades historically averaging over 100 g/t silver.

The Mill

Since operations were halted in 2001, the plant has remained in a state of temporary closure. Prior to 2001, the mill was configured to operate at 1000 tonnes per day. To accommodate ore from the high-grade San Gonzalo zone, a new 250 tonne per day circuit has been added along with extensive upgrading and rehabilitation of the mill. We are presently testing the processing circuit with stockpiled material from earlier operations to prepare the mill for material from the San Gonzalo zone. Avino is committed to making the facility modern and efficient, as our vision extends well beyond the bulk sampling phase towards many years of production.

Tailings Resource

The Company continue to explore options for exploiting the mine's large tailings resource. This asset includes both oxide and sulphide tailings, with each requiring separate treatment methods. In a 2006 study, Wardrop Engineering concluded the oxide tailings held a silver and gold resource with an implied value of US43.7 million and estimated net revenue of $31.4 million. These values were calculated using a silver price of US$8.00 per ounce for silver and $500 per ounce for gold, so today's values will likely be higher. However, our priority at this time is to take a more long-term perspective by first expanding reserves and re-opening the mine.

Pipeline Projects

Yukon Territory, Canada:

Eagle Property

Very High Assays in Early Exploration

Location: Yukon Territory, Canada

Minerals: Silver, Gold, Indium

Ownership: 100%

Status: Exploration

Located in the Keno Hill mining camp north of Whitehorse, the Eagle Property continues to offer exciting potential. In 2009, through an option agreement with Avino, Mega Silver Inc. drilled six holes over 1900 meters. The program successfully identified strong silver, gold, enriched zinc and lead mineralization hosted in the Eagle vein fault (0.3g/t Au, 284.3 g/t Ag, 3.16%Pb, 7.11% Zn. over 1.3m) 

The work also established that the rare earth metal indium, used in plasma screens, is present in significant concentrations of up to 285.4 g/t indium (In) over 1.8m. Despite the strong results, Mega Silver returned the property to Avino so it could focus on its Red Lake project in Ontario. Avino is excited about future exploration at the Eagle property, as more work is needed to fully expose the potential for both silver and indium.

Southern British Columbia:

Minto Property



Bralorne region, SW British Columbia


Gold, silver, zinc




Exploration - diamond drilling


Olympic-Kelvin Property



Bralorne Region, British Columbia


662 hectares (1600 acres)


Silver, gold




Phase II exploration: diamond drilling
Technical Report (PDF. 25 Kb)





Southern British Columbia, Canada


10 sq. km


Silver, gold




Phase I exploration: geochemical, sampling proposed
Technical Report (PDF. 26 Kb)



David Wolfin, President and CEO

Lisa Sharp, CFO

Michael Baybak, Director

Dorothy Chin, Corporate Secretary

Gary Robertson, Director


Q3 2010

Cash 1.7M

St Liabilities 302K

Cash Burn Rate 386K

Quaterly loss diluted (.02)

Update: Rounds of Financing with Sprott Asset Mgt.

Fri Dec 10, 2010

Avino Silver and Gold Mines Ltd. (the "Company") is pleased to announce that it has arranged a private placement of up to 2,700,000 units at a price of $1.90 per unit, each unit consisting of one common share and one non-transferrable share purchase warrant. Each warrant will entitle the investor to purchase one additional common share with a term of three years at an exercise price of $2.50. Sprott Asset Management LP on behalf of certain funds and managed accounts has agreed to participate in this private placement. In addition, units will be sold by the Company to investors introduced by Sprott Private Wealth LP ("SPW"). A cash commission of 5% of the gross proceeds from units sold to such investors and 5% compensation warrants are payable to SPW.

Wed Nov 10, 2010


Corporate Presentation

News Releases



Avino Silver and Gold Mines Ltd is pleased to announce that it has entered into an agreement with MRI Trading AG for the sale of all the copper concentrates produced from stockpiled material that remains on-site from previous mining. This material is currently being used to commission the refurbished 250tpd mill circuit in preparation for the treatment of the 10,000 tonne bulk sample from the underground development at San Gonzalo slated for later this year.


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