Avino Silver & Gold Mines has started a drilling campaign at the Bralorne Gold Mine located near Gold Bridge in the Canadian state of British Columbia.
Image: A mining digger. Photo courtesy of kathi_gott/Freeimages.com
The Company is using the gross proceeds of CDN $6,000,000 raised from the Flow-Through shares offering which closed on April 27, 2018 to fund the exploration work.
In addition, the Company also announces that it has granted incentive Stock options and Restricted Share Units under its Stock Option and Restricted Share Unit Plans to its directors, officers, employees and consultants; the details of which are provided in this news release.
Avino Silver & Gold Mines president and CEO David Wolfin said: “We are pleased to provide an update on the progress at the Bralorne property. The strategic exploration which commenced in June of this year is well underway and is the most comprehensive exploration program in the mine’s 100+ year history. The program includes a 28,000 metre drill program which commenced late last week.
“We are thrilled to be utilizing industry experts and current state-of-the-art technology to maximize the potential for success in finding new veins and potentially, new economic mineralized zones.”
The exploration strategy includes the following steps:
Structural Modelling and Geological Mapping
Airborne and Ground Geophysics Surveys
Geochemical Sampling; and
Significant Drilling Campaign
Structural Modelling and Geological Mapping
In June 2018 a team of expert structural geoscientists completed a one month study that evaluated existing data along with an in-depth site analysis. The objective of the study was to create an updated, detailed surface geological map, a complete 3D geological model, and structural model identifying veining along with target recommendations.
Final results and a report on the study have been completed and received. The analysis has resulted in an improved understanding of the structural fabric of the area and has formed an integral component for targeting exploration drilling.
It is planned that a follow up, phase two structural study will be performed at the end of September which will incorporate geophysical data gathered and dovetail with the drilling campaign.
Airborne and Ground Geophysics Surveys
Existing geophysical data on the Bralorne property is historic and dated and was compiled using methods and technology that has limited current use. As an aid to the structural and geological modeling, as well as greatly assisting with targeting, current state-of-the-art geophysical surveys are on-going and have largely been completed.
The program has included:
AIRBORNE GEOPHYSICS
Magnetic Survey
Used to map bedrock geology and fault structures
Radiometric Survey
Used to map alteration and target Cobalt-Gold mineralization
Helicopter to fly survey lines at 100 metre and 50 metre spacing
Coverage of entire Bralorne Gold Mines property
Performed by Precision GeoSurveys (Langley, BC)
GROUND GEOPHYSICS
2D Seismic Reflection – Frontier Geosciences Inc. (Vancouver)
Trial survey to test targeting methods
Three lines planned
Targeting vein structures
King Deeps – Feeder Structure
Pioneer 27 & Main Vein Extensions
Geochemical Sampling
A comprehensive geochemical sampling program has commenced and is set to be completed by the end of August. With an interest in co-product elements such as cobalt, a small-scale program is planned as a first pass assessment of the potential for Cobalt-Gold mineralization, similar to The Little Gem Cobalt project which is owned by Blackstone Minerals (ASX:BSX), and which occurs 9 km northwest of the Bralorne property.
This sampling includes multi-element ICP Analysis which has not been previously collected on the property. The initial plan is to collect and analyze approximately 100 stream sediment samples which may be expanded depending upon the results and success of this stage.
Drilling Campaign
The extensive drilling campaign has commenced and is focusing on veins and targets that have been identified, and test new areas that Avino has not explored. The program details are as follows:
Approximately CDN $5,000,000 to be spent on exploration drilling
Approximately 28,000 metres of drilling
2 Drill Rigs to be in operation
Drill program to be completed within 9 months
Exploration Drilling – 2 types
Drilling for potential new discoveries on new and underexplored veins
Drilling to potentially increase Inferred Resource
Source: Company Press Release