VANCOUVER, BC, Oct. 15, 2021 /PRNewswire/ - Avino Silver & Gold Mines Ltd. (TSX:
ASM) (NYSE American: ASM) (FSE: GV6) ("Avino" or "the
Company") reports that production of 285,464 silver equivalent
ounces*, consisting of 77,935 ounces of silver, 1,183 ounces of
gold, and 685,535 pounds of copper, was achieved in the third
quarter 2021 from its Avino Mine property near Durango, Mexico.
"We are very pleased to announce our third quarter production
results which followed a period of operational closure," said
David Wolfin, President and CEO of
Avino. "The entire Avino team worked tremendously hard to assist in
the resumption of operations in August, and successfully achieve
production for the quarter. Moving forward, we aim to steadily
increase production to reach the levels established prior to the
closure. I am also thrilled that training programs are
ongoing at the mine as we look to further build a local
workforce."
2021 Third Quarter Highlights
- Avino Mine successfully recommenced
operations: Underground mining operations are now hauling
between 1,000 and 1,500 tpd to surface on a daily basis, with the
mill operating at a similar capacity. The Company is working
towards achieving pre-shutdown levels of mine and mill production.
Current plant capacity remains at 2,500 tpd.
- Increase in overall feed grades from the Avino Mine:
Silver, gold and copper grades increased by 16%, 138% and 18%,
respectively, compared to the last quarterly production period of
Q2 2020.
- Increase in copper recovery rates from the Avino Mine:
Copper recovery rose to 94% from 90%, and metal grades across the
board where higher when compared to the last quarterly production
period of Q2 2020.
During Q3 2021 production came primarily from the Avino Mine.
The Company is currently mining and milling from the Avino Mine
only. As part of the ramp-up of operations 10,806 tonnes of
Historic Above Ground stockpile material having been processed
during Q3 2021. Production from this material totaled 15,784 silver
equivalent ounces, consisting of 9,336 ounces of silver, 58 ounces
of gold, and 12,584 pounds of copper, and there was no comparable
production from Q2 2020.
Avino Production Highlights for Q3 2021 (Compared to Q2 2020
– most recent quarter of production)
- Silver equivalent production increased 70% to 269,680
ounces*
- Copper production increased by 46% to 672,951 lbs
- Silver production increased by 36% to 68,599 oz
- Gold production increased by 179% to 1,125 oz
*In Q3
2021, AgEq was calculated using metals prices of $24.36 oz Ag,
$1,790 oz Au and $4.25 lb Cu. In Q2 2020, AgEq was calculated using
metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu.
Calculated figures may not add up due to rounding.
|
Consolidated Production Tables
Q3
2021
|
Production by
Mine
|
Tonnes Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
47,452
|
68,599
|
1,125
|
672,951
|
269,680
|
Historic Above Ground
Stockpiles
|
10,806
|
9,336
|
58
|
12,584
|
15,784
|
Consolidated
|
58,258
|
77,935
|
1,183
|
685,535
|
285,464
|
YTD
2021
|
Production by
Mine
|
Tonnes Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
50,985
|
72,102
|
1,171
|
727,994
|
285,157
|
Historic Above Ground
Stockpiles
|
10,806
|
9,336
|
58
|
12,584
|
15,784
|
Consolidated
|
61,791
|
81,438
|
1,229
|
740,578
|
300,941
|
Q3
2021
|
Grade &
Recovery by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
50
|
0.95
|
0.68
|
90%
|
77%
|
94%
|
Historic Above Ground
Stockpiles
|
41
|
0.26
|
0.12
|
65%
|
63%
|
45%
|
Consolidated
|
48
|
0.83
|
0.58
|
86%
|
75%
|
85%
|
YTD
2021
|
Grade &
Recovery by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
49
|
0.92
|
0.69
|
90%
|
78%
|
94%
|
Historic Above Ground
Stockpiles
|
41
|
0.26
|
0.12
|
65%
|
63%
|
45%
|
Consolidated
|
48
|
0.81
|
0.59
|
86%
|
75%
|
85%
|
Avino Mine Production Highlights1
|
Q3 2021
|
Q2 20202
|
Quarterly Change
|
YTD 2021
|
Total Mill Feed (dry
tonnes)
|
47,452
|
40,190
|
18%
|
50,985
|
Feed Grade Silver
(g/t)
|
50
|
43
|
16%
|
49
|
Feed Grade Gold
(g/t)
|
0.95
|
0.40
|
138%
|
0.92
|
Feed Grade Copper
(%)
|
0.68
|
0.58
|
18%
|
0.69
|
Recovery Silver
(%)
|
90%
|
90%
|
-%
|
90%
|
Recovery Gold
(%)
|
77%
|
79%
|
-2%
|
78%
|
Recovery Copper
(%)
|
94%
|
90%
|
5%
|
94%
|
Total Silver Produced
(oz)
|
68,599
|
50,581
|
36%
|
72,102
|
Total Gold Produced
(oz)
|
1,125
|
404
|
179%
|
1,171
|
Total Copper Produced
(Lbs)
|
672,951
|
459,767
|
46%
|
727,994
|
Total Silver
Equivalent Produced (oz)3
|
269,680
|
158,286
|
70%
|
285,157
|
|
110,806 tonnes of historic above
ground stockpiles were processed during Q3 2021 as part of the
ramp-up of operations. Production from this material totaled 15,784
silver equivalent ounces, consisting of 9,336 ounces of silver, 58
ounces of gold, and 12,584 pounds of copper, and there was no
comparable production from Q2 2020.
|
2Q2 2020 was the most recent
quarter of consolidated production and is most appropriate for
comparison purposes.
|
3In Q3 2021, AgEq was calculated
using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb Cu.
In Q2 2020, AgEq was calculated using metals prices of $16.38 oz
Ag, $1,707 oz Au and $2.45 lb Cu. Calculated figures may not add up
due to rounding.
|
Exploration and Operational Update
Exploration:
At the end of September, a total of 12,179 metres of drilling
has been completed at the Avino property. The main areas for the
third quarter of exploration include the Oxide Tailings, the area
below current mining operations at Avino, as well as the highly
prospective area of La Potosina.
Assay results are pending due to long turn around times at the
laboratories and will be released once received and
interpreted.
Operations:
The Company has been training a local workforce at the mine as
it endeavours to support nearby towns and strengthen the
collaboration between the surrounding communities and the
Company. As a major employer in the area, it is important
that there is a steady group of trained mine workers available as
we ramp up production. The training programs are aimed at
increasing inclusion and diversity, as well as fostering
opportunities for both women and men. With this objective in mind,
the Company is pleased to have trained it's first female scooptram
operator.
Quality Assurance/Quality Control
Mill assays are performed at the Avino property's on-site lab.
Check samples are sent to SGS Labs in Durango, Mexico for verification. Gold and
silver assays are performed by the fire assay method with the
gravimetric finish for the concentrates and the AAS methods for
copper, lead, zinc and silver for the feed and tail grade samples.
All concentrate shipments are assayed by one of the following
independent third-party labs: AHK, Inspectorate in the UK and LSI
in the Netherlands.
Qualified Person(s)
Peter Latta, P.Eng, MBA, VP
Technical Services, Avino who is a qualified person within the
context of National Instrument 43-101 has reviewed and approved the
technical data in this news release.
About Avino
Avino is primarily 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 strategy is to create shareholder value
through organic growth at the historic Avino Property and the
strategic acquisition of mineral exploration and mining properties.
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_ASM and
on LinkedIn at Avino
Silver & Gold Mines.
ON BEHALF OF THE BOARD
"David Wolfin"
David
Wolfin
President & Chief Executive
Officer
Safe Harbor Statement - 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 updated mineral
resource estimate for the Company's Avino Property located near
Durango in west-central Mexico
(the "Property") with an effective date of February 21, 2018, and amended on December 19, 2018, including but are not limited
to, the Company's ability to meet its production guidance at levels
achieved prior to March 31,
2020. prepared for the Company, and reference 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. No
assurance can be given that the Company's Property does not have
the amount of the mineral resources indicated in the updated report
or that such mineral resources may be economically extracted.
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
authorities, 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; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in foreign
countries; environmental 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 our common share price and
volume; tax consequences to U.S. investors; and other risks and
uncertainties. 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 undue 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.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
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SOURCE Avino Silver & Gold
Mines Ltd.