VANCOUVER, BC, Jan. 18,
2022 /CNW/ - Avino
Silver & Gold Mines Ltd. (TSX: ASM)
(NYSE American: ASM) (FSE: GV6) ("Avino" or
"the Company") highlights its fourth quarter and
full year 2021 production results from its Avino Mine
property near Durango,
Mexico.
2021 Fourth Quarter Highlights
- Increased Avino Mine underground
operations: Underground mining operations
continue to increase capacity. During Q4 2021, haulage increased by
56% compared to Q3 2021, and averaged over 1,500 tonnes per
available day in December.
- Increase in silver feed grades from the Avino
Mine: Silver grade increased by 11% compared to Q3
2021.
- Increase in consolidated recovery rates:
Silver and copper recovery rose by 3% and 5%, respectively,
compared to Q3 2021.
"The final quarter of the year exceeded our expectations,
as we continue to gear up to full production, said David Wolfin, President and CEO of Avino. We
were rewarded with higher than expected grades and exploration
results have been encouraging as we continue to discover more of
the Avino property. Training programs continue with the emphasis on
building up our local workforce. We provide inclusive opportunities
and are training a number of female underground workers at the
mine. We look forward to closing the La Preciosa acquisition as we
continue to build a district scale mining business and provide
long-lasting careers and benefits for the people in our local
communities."
Q4 2021 came from the Avino Mine only. The Company is not
expecting to process any Historical Above Ground Stockpiles at this
time.
Avino Production Highlights for Q4 2021 (Compared to Q3
2021)
- Silver equivalent production increased 101% to 541,432
oz*
- Silver production increased by 139% to 163,933
oz
- Copper production increased by 68% to 1.1 million
lbs
- Gold production increased by 92% to 2,158 oz
- Mill throughput increased by 118% to 103,513
tonnes
- Mine haulage increased by 56% to 110,553
tonnes
*In Q4 2021, AgEq was calculated
using metals prices of $23.32 oz Ag,
$1,783 oz Au and $4.40 lb Cu. In Q3 2021, AgEq was calculated
using metals prices of $24.36 oz Ag,
$1,790 oz Au and $4.25 lb Cu. Calculated figures may not add up
due to rounding.
Consolidated Production Tables
Q4 2021
|
Production by Mine
|
Tonnes Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
103,513
|
163,933
|
2,158
|
1,128,728
|
541,432
|
Historic Above Ground
Stockpiles
|
-
|
-
|
-
|
-
|
-
|
Consolidated
|
103,513
|
163,933
|
2,158
|
1,128,728
|
541,432
|
YTD 2021
|
Production by Mine
|
Tonnes Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
154,498
|
236,035
|
3,328
|
1,856,722
|
826,589
|
Historic Above Ground
Stockpiles
|
10,806
|
9,336
|
58
|
12,584
|
15,784
|
Consolidated
|
165,304
|
245,372
|
3,386
|
1,869,306
|
842,373
|
Q4 2021
|
Grade & Recovery by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
56
|
0.86
|
0.55
|
89%
|
75%
|
90%
|
Historic Above Ground
Stockpiles
|
-
|
-
|
-
|
-%
|
-%
|
-%
|
Consolidated
|
56
|
0.86
|
0.55
|
89%
|
75%
|
90%
|
YTD 20211
|
Grade & Recovery by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
53
|
0.88
|
0.60
|
89%
|
76%
|
91%
|
Historic Above Ground
Stockpiles
|
41
|
0.26
|
0.12
|
65%
|
63%
|
45%
|
Consolidated
|
53
|
0.84
|
0.57
|
87%
|
75%
|
88%
|
1After a period of operational
closure, production recommenced in Q3 2021
|
Avino Mine Production Highlights
|
Q4
2021
|
Q3
20211
|
Quarterly
Change
|
YTD
2021
|
Total Mill Feed (dry
tonnes)
|
103,513
|
47,452
|
118%
|
154,498
|
Feed Grade Silver
(g/t)
|
56
|
50
|
11%
|
53
|
Feed Grade Gold
(g/t)
|
0.86
|
0.95
|
-9%
|
0.88
|
Feed Grade Copper
(%)
|
0.55
|
0.68
|
-19%
|
0.60
|
Recovery Silver
(%)
|
89%
|
90%
|
-2%
|
89%
|
Recovery Gold
(%)
|
75%
|
77%
|
-2%
|
76%
|
Recovery Copper
(%)
|
90%
|
94%
|
-5%
|
91%
|
Total Silver Produced
(oz)
|
163,933
|
68,599
|
139%
|
236,035
|
Total Gold Produced
(oz)
|
2,158
|
1,125
|
92%
|
3,328
|
Total Copper Produced
(Lbs)
|
1,128,728
|
672,951
|
68%
|
1,856,722
|
Total Silver
Equivalent Produced (oz)2
|
541,432
|
269,680
|
101%
|
826,589
|
1Q3 2021 was the most recent
quarter of consolidated production and is most appropriate for
comparison purposes, as there was no production for Q4
2020.
|
2In Q4 2021, AgEq was calculated
using metals prices of $23.32 oz Ag, $1,783 oz Au and $4.40 lb Cu.
In Q3 2021, AgEq was calculated using metals prices of $24.36 oz
Ag, $1,790 oz Au and $4.25 lb Cu. Calculated figures may not add up
due to rounding.
|
Exploration and Operational Update
Exploration:
At the end of December, a total of 15,583 metres of
drilling has been completed at the Avino property. The January 10, 2022 press release announcing drill
results can be reviewed here or on our
profiles on SEDAR and Edgar.
Operations:
New offices are being constructed on site for the geology
and community outreach teams. The conversion to dry stack tailings
continues on schedule with the construction of the filter building
nearing completion.. In addition, a number of other
efficiency-increasing capital projects were initiated in 2021 and
are currently on track for completion in 2022. Concentrate sales to
our main trading partner, Samsung, have continued on a monthly
basis.
Corporate Update – Management
Appointment
Avino is pleased to announce the appointment of
Jennifer Trevitt to the position of
Corporate Secretary in December 2021.
Prior to joining the Company, Ms. Trevitt served as the Corporate
Secretary and Vice President Corporate Affairs of Minco Silver
Corporation and Minco Capital Corp. for 13 years. She is a Capilano
College-certified Paralegal working in the Securities/Corporate
finance industry for 23 years. In 2019, she obtained her
Certificate in Mining Law and in November
2021 she completed the Fundamentals of U.S. Securities Law
with Osgoode Hall Law School.
The Company wishes to express its heartfelt thanks and
appreciation to Dorothy Chin, who
has retired from the position of Corporate Secretary which she held
for the last 13 years. She was a senior member of the management
team with years of outstanding service, efficient work ethic and
dedication to her job. The Company and all its directors,
executives, employees, and consultants, wish her our very best for
a happy retirement.
The Company will provide its 2022 outlook in the coming
weeks, in the meantime please visit our website at
www.avino.com to view information on the
acquisition of La Preciosa and photos of
the Tailings Facility Storage#2 progress.
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 Sprectromotry) 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 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. 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"). U.S. Investors are cautioned not to assume that any part
of the mineral resources in these categories will ever be converted
into Reserves as defined under SEC Industry Guide 7.
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.
View original
content:https://www.prnewswire.com/news-releases/avinos-q4-2021-production-results-exceeds-expectations-301462588.html
SOURCE Avino Silver & Gold
Mines Ltd.