VANCOUVER, BC, April 14,
2022 /CNW/ - Avino
Silver & Gold Mines Ltd. (TSX: ASM) (NYSE: ASM)
(FSE: GV6) "Avino" or "the Company") is pleased to
report highlights from its first quarter 2022 production
results from the Avino Mine property near Durango, Mexico.
"The first quarter of 2022 represented a significant milestone
for Avino," said David Wolfin,
President and CEO of Avino. "With the closing of the La Preciosa
acquisition, we are excited to move forward with a goal of creating
a district-scale operation which will provide significant benefits
for all our stakeholders. The slight decrease in production,
compared to Q4 2021, was expected due to mine sequencing into more
typical gold grade zones. During the quarter, silver and copper
grades remained consistent with our internal mine plan while we
were able to meaningfully improve our gold and silver recoveries.
We continue to focus on profitable ounces, training programs to
build up our local workforce to accelerate the ramp-up period, and
continued exploration below our current workings in addition to
other high-grade targets on the property."
2022 First Quarter
Highlights
- Completed Transformational Acquisition of La
Preciosa: On March 21, 2022,
Avino announced the closing of the acquisition of La Preciosa from
Coeur Mining Inc.
- Announced La Potosina Results: On March 9, 2022, Avino announced drill results from
the La Potosina area of the Avino property, including 668 g/t AgEq
over 2.95 metres. These results are following up on historic
results from 2011, which included 2,737 g/t AgEq over 0.40
metres.
- Advanced the Oxide Tailings Project: With the release of
the results from the 110 drill-hole program, Avino is moving
forward with metallurgical testwork to progress this project to the
next phase of development.
Production Highlights - Q1 2022
(Compared to Q4 2021)
Q1 2022 came from the Avino Mine only. The Company is not
expecting to process any Historical Above Ground Stockpiles at this
time.
- Silver equivalent production decreased 15% to 457,798 oz*
- Silver production remained constant at 164,358 oz
- Copper production increased by 8% to 1.2 million lbs
- Gold production decreased by 66% to 801 oz
- Mill throughput increased by 7% to 111,138 tonnes
*In Q1 2022, AgEq was calculated
using metals prices of $23.94 oz Ag, $1,874 oz Au and $4.53 lb Cu.
In Q4 2021, AgEq was calculated using metals prices of $23.32 oz
Ag, $1,783 oz Au and $4.40 lb Cu.
|
Consolidated Production
Tables
Q1
2022
|
Production by
Mine
|
Tonnes
Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
Oz
|
Avino
|
111,138
|
164,358
|
801
|
1,217,349
|
457,798
|
Historic Above Ground
Stockpiles
|
-
|
-
|
-
|
-
|
-
|
Consolidated
|
111,138
|
164,358
|
801
|
1,217,349
|
457,798
|
Q1
2022
|
Grade & Recovery
by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
50
|
0.29
|
0.56
|
92%
|
77%
|
89%
|
Historic Above Ground
Stockpiles
|
-
|
-
|
-
|
-%
|
-%
|
-%
|
Consolidated
|
50
|
0.29
|
0.56
|
92%
|
77%
|
89%
|
Avino Mine Production
Highlights
|
Q1
2022
|
Q4
20211
|
Quarterly
Change
|
Total Mill Feed (dry
tonnes)
|
111,138
|
103,513
|
7%
|
Feed Grade Silver
(g/t)
|
50
|
56
|
-10%
|
Feed Grade Gold
(g/t)
|
0.29
|
0.86
|
-66%
|
Feed Grade Copper
(%)
|
0.56
|
0.55
|
1%
|
Recovery Silver
(%)
|
92%
|
89%
|
3%
|
Recovery Gold
(%)
|
77%
|
75%
|
3%
|
Recovery Copper
(%)
|
89%
|
90%
|
-1%
|
Total Silver Produced
(oz)
|
164,358
|
163,933
|
-%
|
Total Gold Produced
(oz)
|
801
|
2,158
|
-63%
|
Total Copper Produced
(Lbs)
|
1,217,349
|
1,128,728
|
8%
|
Total Silver Equivalent
Produced (oz)2
|
457,798
|
541,432
|
-15%
|
1Q4 2021 was the most recent
quarter of consolidated production and is most appropriate for
comparison purposes, as there was no production for Q1
2021.
|
|
2In Q1 2022, AgEq was calculated
using metals prices of $23.94 oz Ag, $1,874 oz Au and $4.53 lb Cu.
In Q4 2021, AgEq was calculated using metals prices of $23.32 oz
Ag, $1,783 oz Au and $4.40 lb Cu. Calculated figures may not add up
due to rounding.
|
Exploration Update
Avino released updates on drilling from a number of different
areas of the Avino property, including La Potosina, Oxide Tailings
Project & a summary of all other 2021 drilling.
These releases are linked here:
- Oxide Tailings – April 7,
2022
- La Potosina – March 9,
2022
- 2021 Exploration Summary – January
10, 2022
Dry Stack Tailings Facility
Update
Avino is completing its conversion to dry stack tailings. We
chose dry stack tailings for its environmental, safety and economic
advantages with the high solids content. This significantly
improves safety and stability and reduces the need to extract water
from local sources by recycling the water removed from tailings. In
addition, it requires less land which in turn results in a smaller
environmental footprint. A time lapse video showing the progress of
the construction of Tailings Storage Facility #2 is on our website
at the following link.
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 a
gravimetric finish for concentrates and AAS (Atomic Absorption
Spectrometry) 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: Inspectorate
in the UK, and LSI in the
Netherlands and AHK.
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, gold and copper production remains unhedged. The
Company's mission and strategy is to create shareholder value
through its focus on profitable 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. To view the Avino Mine VRIFY tour,
please click here.
ON BEHALF OF THE BOARD
"David Wolfin"
David Wolfin
President & Chief Executive Officer
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,
prepared for the Company, and La Preciosa's updated October 27, 2021 resource estimate 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. No
assurance can be given that the Company's Avino Property nor the La
Preciosa Property have the amount of the mineral resources
indicated in their reports 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; 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; 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 the 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. 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.
References to Measured & Indicated Mineral Resources and
Inferred Mineral Resources in this press release are terms that are
defined under Canadian rules by National Instrument 43-101 ("NI
43-101"). On October 31, 2018, the US
Securities and Exchange Commission adopted Item 1300 of Regulation
S-K ("Regulation SK-1300") to modernize the property disclosure
requirements for mining registrants, and related guidance, under
the Securities Act of 1933 and the Securities Exchange Act of 1934.
All registrants are required to comply with Regulation SK-1300 for
fiscal years ending after January 1,
2021. Accordingly, the Company must comply with Regulation
SK-1300 for its fiscal year ending December
31, 2021, and thereafter, and the Company will no longer
utilized Industry Guide 7. Regulation SK-1300 uses the Committee
for Mineral Reserves International Reporting Standards ("CRIRSCO")
based classification scheme for mineral resources and mineral
reserves, that includes definitions for inferred, indicated, and
measured mineral resources. U.S. Investors are cautioned not to
assume that any part of the mineral resources in these categories
will ever be converted into probable or proven mineral reserves
within the meaning of Regulation S-K 1300.
View original
content:https://www.prnewswire.com/news-releases/avino-delivers-steady-q1-2022-production-results-301525734.html
SOURCE Avino Silver & Gold
Mines Ltd.