Avino Silver and Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE
MKT:ASM)(FRANKFURT:GV6) ("Avino" or "the Company") is pleased to
announce the August 2013 production results from its San Gonzalo
mine and Historic Avino Mine surface stockpile operations located
on the Avino property near Durango, Mexico.
August production from the San Gonzalo Mine and Avino Mine
surface stockpiles are presented below along with a comparison with
July output from both areas:
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Total Feed Feed
Mill Feed Grade Grade Recovery Recovery
Days of (metric Silver Gold Silver Gold
Operation tonnes) (g/t) (g/t) (%) (%)
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San Gonzalo
(Circuit 1) 30 6,678 283 1.51 85 75
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Historic Above
Ground Stock
Piles
(Circuit 2) 28 5,774 78 0.63 63 51
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12,452
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Total Total
Total Total August July
Silver Gold Silver Eq. Silver Eq. YTD
Produced Produced Produced Produced Silver Eq.
(oz) (oz) (oz) (oz) % Produced
Calculated Calculated Calculated Calculated Change Calculated
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San Gonzalo
(Circuit 1) 51,505 242 67,208 60,903 10.3 499,785
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Historic Above
Ground Stock
Piles
(Circuit 2) 9,151 59 13,016 16,665 (21) 67,520
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60,656 301 80,224 77,568 3.42 567,305
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Silver equivalent was calculated using a 65:1 ratio for silver
to gold. Mill production figures have not been reconciled and are
subject to adjustment with concentrate sales. Year-to-date and
calculated figures may not add up due to rounding.
We are pleased to see another month of consistent production
with grades and recoveries as anticipated. In August, we saw output
increase significantly at San Gonzalo as we begin to process higher
grade material from level 5. These recent production numbers
coupled with our very encouraging Q2 financial data present a
promising picture for Q3 as metal markets continue to rebound from
their lows in June.
- David Wolfin, President, CEO & Director, Avino Silver
& Gold Mines Ltd.
San Gonzalo
Production numbers from July and August 2013 at San Gonzalo, as
well as 2013 yearly totals are reported as follows:
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Monthly
July-13 Aug-13 Change % YTD SG
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Total Mill Feed (dry tonnes) 6,372 6,678 4.8 52,760
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Average Daily Throughput (tpd) 212 223 5.2 225
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Days of Operation 30 30 0 234
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Feed Grade Silver (g/t) 285 283 (0.7) 292
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Feed Grade Gold (g/t) 1.31 1.51 15.3 1.29
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Bulk Concentrate (dry tonnes) 207 200 (3.4) 1,612
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Bulk Concentrate Grade Silver (kg/t) 7.25 7.99 10.2 7.88
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Bulk Concentrate Grade Gold (g/t) 29.6 37.5 26.7 30.6
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Recovery Silver (%) 82 85 3.7 82
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Recovery Gold (%) 73 75 2.7 72
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Mill Availability (%) 91.8 96.0 4.6 95.4
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Total Silver Produced (kg) 1,497 1,602 7.0 12,695
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Total Gold Produced (g) 6,111 7,514 23.0 49,350
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Total Silver Produced (oz)
calculated 48,131 51,505 7.0 408,139
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Total Gold Produced (oz) calculated 196 242 23.0 1,587
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Total Silver Equivalent Produced
(oz) 60,903 67,208 10.4 499,785
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Silver equivalent for January through June was calculated using
a 55:1 ratio for silver to gold, for the months of July and August
a 65:1 ratio was used. (The ratio was changed to reflect more
current gold and silver prices.) Mill production figures have not
been reconciled and are subject to adjustment with concentrate
sales. Year-to-date and calculated figures may not add up due to
rounding.
August Highlights
-- Tonnage processed in August improved over July due to the better plant
availability of 96%.
-- Silver and gold recoveries were slightly better than those of July as
some feed from the higher grade 5th level was processed along with
material from level 4 during the month.
-- Gold feed grade was also higher due to material from the 5th level.
-- The higher gold feed grade and recovery resulted in an increase of 23%
over July gold production.
-- There was also a 7% increase in silver production due to the same
factors.
Circuit 2 - Avino Mine Stock Piles
Production numbers from Circuit 2 during April through August
are presented below as well as yearly totals:
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April May June July August % YTD
2013 2013 2013 2013 2013 Change 2013
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Total mill feed -
(dry tonnes) 4,040 5,917 6,324 5,922 5,774 (2.5) 27,976
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Days of Operation 19 30 29 30 28 (6.7) 136
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Feed grade Silver -
g/t 73 84 78 89 78 (12.4) 81
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Feed grade Gold -
g/t 0.79 0.70 0.84 0.83 0.63 (24.1) 0.76
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Bulk concentrate -
(dry tonnes) 49.84 66.05 84.42 80.52 48.53 (39.7) 329
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Bulk Concentrate
Grade Silver (kg/t) 3.977 4.833 3.509 4.310 5.865 36.1 4.388
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Bulk Concentrate
Grade Gold (g/t) 35.30 32.19 32.20 32.74 38.11 16.4 33.67
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Recovery Silver (%) 67 64 60 66 63 (4.5) 64
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Recovery Gold (%) 55 51 51 54 51 (5.6) 52
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Mill availability
(%) 63 83 96 87 84 (3.4) 88
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Total Silver
Produced (oz)
calculated 6,373 10,264 9,525 11,156 9,151 (18.0) 46,470
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Total Gold Produced
(oz) calculated 57 68 87 85 59 (30.6) 356
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Total Silver Eq.
Produced (oz)
calculated 9,484 14,023 14,332 16,665 13,016 (21.9) 67,520
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Silver equivalent for April through June was calculated using a
55:1 ratio for silver to gold, for the months of July and August a
65:1 ratio was used. (The ratio was changed to reflect more current
gold and silver prices.) Mill production figures have not been
reconciled and are subject to adjustment with concentrate sales.
Year-to-date and calculated figures may not add up due to
rounding.
August Highlights
-- Two operating days were lost due to problems caused by the fuel pump
within the diesel generator servicing circuit 2.
-- As a result of the down days, tonnage processed was lower than in July.
-- In addition the feed grades of silver and gold were also lower than
those of July.
-- The lower tonnage combined with the lower grades resulted in lower
silver and gold production for August.
-- Better grade control on the stockpiled material is required for
improvement.
Quality Assurance/Quality Control
Mill assays are performed at the lab onsite at the mine. Check
samples are verified by SGS laboratory Services in Durango, Mexico
and more recently at Inspectorate Labs in Reno, Nevada. San Gonzalo
concentrate shipments are assayed at AH Knight in Manzanillo,
Mexico; Avino stockpile concentrate shipments are assayed at LSI in
Rotterdam, Netherlands.
Stock Option Grant
Avino has granted an aggregate of 400,000 incentive stock
options under its stock option plan to its directors, officers,
employees and consultants. The Options are exercisable for up to
five years at a price of $1.62 per share, which is the last closing
price of the Company's shares prior to the date of grant.
The stock options are not transferrable and will be subject to a
four-month hold period from the date of grant and any applicable
regulatory acceptance.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson,
P.Eng, BSc, ARSM Avino Consultant and Mr. Jasman Yee P.Eng, Avino
director, who are both qualified persons within the context of
National Instrument 43-101. Both have reviewed and approved the
technical data in this news release.
Clarification
Due to mathematical error, the overall year to date silver
equivalent production reported in our August 8, 2013 news release
should instead have been listed as 487,082 ounces of silver
equivalent.
About Avino
Avino's mission is to create shareholder value through
profitable organic growth at the Avino property. We are committed
to managing all business activities in an environmentally
responsible and cost-effective manner while contributing to the
well-being of the community in which we operate.
Management remains focused on the following key objectives:
1. Maintain profitable mining operations at San Gonzalo while decreasing
operating costs and improving efficiency;
2. Increase mill throughput using the new circuit ("Circuit 2") that went
online in April 2013;
3. Develop the Avino mine for commercial production commencing in 2014;
4. Continue to review and develop plans to process the oxide tailings
resource from previous milling operations (PEA issued in 2012);
5. Continue to explore regional targets on the property and consider
acquisition opportunities.
ON BEHALF OF THE BOARD
David Wolfin, President & CEO, Avino Silver & Gold Mines
Ltd.
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 our belief as to the
extent and timing of various studies including the PEA, and
exploration results, the potential tonnage, grades and content of
deposits, timing and establishment and extent of resources
estimates. 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.
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 of 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.
Cautionary Note to United States Investors - The information
contained herein and incorporated by reference herein has been
prepared in accordance with the requirements of Canadian securities
laws, which differ from the requirements of United States
securities laws. In particular, the term "resource" does not equate
to the term "reserve". The Securities Exchange Commission's (the
"SEC") disclosure standards normally do not permit the inclusion of
information concerning "measured mineral resources", "indicated
mineral resources" or "inferred mineral resources" or other
descriptions of the amount of mineralization in mineral deposits
that do not constitute "reserves" by SEC standards, unless such
information is required to be disclosed by the law of the Company's
jurisdiction of incorporation or of a jurisdiction in which its
securities are traded. U.S. investors should also understand that
"inferred mineral resources" have a great amount of uncertainty as
to their existence and great uncertainty as to their economic and
legal feasibility. Disclosure of "contained ounces" is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Avino Silver & Gold Mines Ltd. David Wolfin
President & CEO 604.682.3701 604.682.3600 (FAX)ir@avino.com
www.avino.com
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