Avino 2013 Production up 253% over 2012 to 895,240 oz Silver
Equivalent
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
Avino Silver & Gold Mines Ltd.
(TSX-VENTURE:ASM)(NYSEMKT:ASM)(FRANKFURT:GV6) ("Avino" or "the
Company") is pleased to report its year end and Q4 2013 production
results from its Avino property near Durango, Mexico.
Production Highlights
for Fiscal 2013 (Compared to Fiscal 2012)
- Silver production increased 264% to 698,076 oz
- Gold production increased 162% to 3,243 oz
- Silver equivalent production increased 253% to 895,240 oz*
Production Highlights
for Fourth Quarter, 2013 (Compared to Fourth Quarter,
2012)
- Silver production increased 44% to 184,760 oz
- Gold production increased 122% to 1,011 oz
- Silver equivalent production increased 66% to 250,533*
* Silver equivalent in Q3 & Q4 2013 has been calculated
using a 65:1 ratio for silver to gold. During Q1 & Q2 2013, a
55:1 ratio was used in the calculation. In Q4 2012 a ratio of 50:1
was used. (The ratio was changed to reflect the gold and silver
prices during those periods). 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.
"2013 represented a major milestone for the Company as we
completed our first full year of commercial production since the
2000/2001 mine closure. This tremendous accomplishment can be
attributed directly to our impressive team of operators, officers,
managers, employees and contractors. Oh behalf of the board of
directors, I would like to thank all of them for their tireless
efforts and continued focus on improving operational efficiency and
expanding the mines output. The new year is shaping up to be
another exciting period of growth for the Company as we expect to
complete the next phase of expansion work, leading towards our
mission of becoming the next mid-tier silver producer."
- David Wolfin,
President, CEO & Director, Avino Silver & Gold Mines
Ltd.
2013 Production Highlights
Comparative production numbers from Q4 2013 and Q4 2012 are
presented below:
|
Q4 2013 |
Q4 2012 |
% Change |
Total Silver Produced (oz) calculated |
184,760 |
128,607 |
44 |
Total Gold Produced (oz) calculated |
1,011 |
455 |
122 |
Total Silver Eq. Produced (oz) calculated |
250,533 |
151,373 |
66 |
Silver equivalent in Q3 & Q4 2013 was calculated using a
65:1 ratio for silver to gold. During Q1 & Q2 2013, a 55:1
ratio was used in the calculation. In 2012 a ratio of 50:1 was
used. (The ratio was changed to reflect the gold and silver prices
during these periods). 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.
Q4 San Gonzalo Production Highlights
Comparative figures for Q4 2013 and Q4 2012 are presented below
as well as 2013 yearly totals are reported as follows:
|
Q4 2013 |
Q4 2012 |
Quarterly Change % |
2013 Totals |
Total Mill Feed (dry tonnes) |
19,354 |
19,539 |
(0.9) |
78,415 |
Average Daily Throughput (tpd) |
225 |
222 |
1.4 |
225 |
Days of Operation |
86 |
88 |
(2.3) |
349 |
Feed Grade Silver (g/t) |
280 |
259 |
8.1 |
288 |
Feed Grade Gold (g/t) |
1.49 |
1.04 |
43.3 |
1.34 |
Bulk Concentrate (dry tonnes) |
617 |
538 |
14.7 |
2,431 |
Bulk Concentrate Grade Silver (kg/t) |
7.44 |
7.44 |
0 |
7,704 |
Bulk Concentrate Grade Gold (g/t) |
35.0 |
26.33 |
32.9 |
31.6 |
Recovery Silver (%) |
85 |
79 |
7.6 |
83 |
Recovery Gold (%) |
75 |
70 |
7.1 |
73 |
Mill Availability (%) |
93.9 |
94.4 |
(0.5) |
95.2 |
Total Silver Produced (kg) |
4,588 |
4,000 |
14.7 |
18,732 |
Total Gold Produced (g) |
21,575 |
14,161 |
52.4 |
76,904 |
Total Silver Produced (oz) calculated |
147,516 |
128,607 |
14.7 |
602,233 |
Total Gold Produced (oz) calculated |
693 |
455 |
52.4 |
2,473 |
Total Silver Equivalent Produced (oz) calculated |
192,604 |
151,372 |
27.2 |
751,462 |
Silver equivalent in Q3 & Q4 2013 has been calculated
using a 65:1 ratio for silver to gold. During Q1 & Q2 2013, a
55:1 ratio was used in the calculation. In Q4 2012 a ratio of 50:1
was used. (The ratio was changed to reflect the gold and silver
prices during those periods). 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.
Q4 2013 Highlights
- Silver and gold production increased significantly over the
comparative quarter from the previous year. The main reason being
the grade which improved by 8.1% and 43.3% respectively. Mill feed
came from the 4th and 5th levels which has higher grade material
than those of the 2nd and 3rd level which was the source of feed in
2012.
- Silver and gold recoveries also improved by 7.6% and 7.1%
respectively. They were the result of processing the less oxidized
material from the lower levels.
- Tonnage processed for the quarter was slightly less due to 2
fewer operating days.
- The above factors resulted in the increase of silver production
by 14.7% and gold production increase of 52.4%.
Q4 Avino Mine Stockpile (Circuit 2) Highlights*
Comparative Production numbers from Q4 and Q3 2013 at Circuit 2,
as well as 2013 annual totals are reported as follows:
|
Q4 2013 |
Q3 2013 |
% Change |
2013 Totals |
Total mill feed - (dry tonnes) |
19,576 |
18,279 |
7.1 |
47,645 |
Days of Operation |
86 |
87 |
(1.1) |
251 |
Feed grade Silver - g/t |
92 |
84.23 |
9.2 |
85 |
Feed grade Gold - g/t |
0.94 |
0.773 |
21.6 |
0.83 |
Bulk concentrate - (dry tonnes) |
226 |
210 |
7.6 |
636 |
Bulk Concentrate Grade Silver (kg/t) |
5.13 |
4.803 |
6.8 |
4.687 |
Bulk Concentrate Grade Gold (g/t) |
43.8 |
35.479 |
23.5 |
37.66 |
Recovery Silver (%) |
64 |
65.5 |
(2.3) |
74 |
Recovery Gold (%) |
54 |
52.7 |
2.5 |
61 |
Mill availability (%) |
93.3 |
89.24 |
4.5 |
90.9 |
Total Silver Produced (oz) calculated |
37,244 |
32,436 |
14.8 |
95,482 |
Total Gold Produced (oz) calculated |
318 |
239 |
33.1 |
770 |
Total Silver Eq. Produced (oz) calculated |
57,929 |
48,010 |
20.1 |
143,778 |
Silver equivalent in Q3 & Q4 2013 has been calculated
using a 65:1 ratio for silver to gold. During Q2 2013, a 55:1 ratio
was used in the calculation. (The ratio was changed to reflect the
gold and silver prices during those periods). 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.
* Since circuit 2 was not operational during Q4
2012 no comparative data is available. For analytical purposes
comparative data from Q3 2013 has been provided.
Q4 2013 Highlights
- Tonnage processed for the quarter was higher than the 3rd
quarter because of the higher mill availability. The mill issues
with power generator and the maintenance issues on the ball mill
and crusher were resolved.
- The gold and silver feed grades to the plant were also higher
by 21.6% and 9.2% respectively with similar recoveries.
- The concentrate grades in gold and silver improved by 23.5% and
6.8% respectively probably due to the higher feed grades being
processed.
- Silver production for the quarter increased by 14.8% while the
gold production increased by 33.1%.
Quality Assurance/Quality Control
Mill assays are performed at the mine's on-site lab. Check
samples are verified by Inspectorate Labs in Reno, Nevada. San
Gonzalo concentrate shipments are assayed at AH Knight in
Manzanillo, Mexico. The Avino stockpile concentrate shipments are
assayed at LSI in Rotterdam, Netherlands.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson,
P.Eng., Avino Consultant and 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.
About Avino
Avino is a silver and gold producer operating the Avino property
located in Durango, Mexico. The Company's mission is to become the
next mid-tier silver producer 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.
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.
Avino Silver & Gold Mines Ltd.David WolfinPresident &
CEO604.682.3701604.682.3600ir@avino.comwww.avino.com
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