Avino Expansion Update
April 23 2014 - 8:00AM
Marketwired
Avino Expansion Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 23, 2014) -
Avino Silver & Gold Mines Ltd.
(NYSEMKT:ASM)(TSX-VENTURE:ASM)(FRANKFURT:GV6); ("Avino" or "the
Company") is pleased to announce the following expansion update
from its Avino Mine located on Avino property located 80km
northeast of Durango, Mexico.
"Having just returned from a week at the mine site, I am
extremely pleased with the progress being made at the Avino Mine
and the mill complex; with the closing of the two financings in
February, we are in great shape to complete our expansion within
2014, as planned." |
|
- David Wolfin, President, CEO & Director, Avino Silver
& Gold Mines Ltd. |
Avino Mine Expansion
• |
Dewatering (93% Complete) |
|
The Avino Mine is now dewatered down to level 10.5 with one more
level to go before the area where mining ceased in 2001 is reached.
At the current dewatering rate, it is anticipated that mining can
commence in the 3rd Quarter or possibly sooner pending completion
of dewatering. |
|
|
• |
Main Haulage Ramp Rehabilitation (85% Complete) |
|
The ramp in general is in very good condition as the host rock is
very competent; areas where sloughing has occurred are being
stabilized with steel and timber sets and sprayed with shotcrete.
The rehabilitation has kept pace with dewatering so once dewatering
in the final level is complete the final rehabilitation will be
swift. |
|
• |
New Underground Mining Equipment (Received) |
|
New Oldenberg single boom jumbo and Caterpillar RG 1600 six yard
scoop tram have been purchased using the Caterpillar credit
facility; this equipment is in addition to a scoop tram and air
compressor that were previously purchased for the rehabilitation
work. |
|
|
• |
2
New Portable Mine Offices (Received) |
|
|
• |
5
New Personnel Mine Diesel Trucks (Received) |
Process Plant Expansion
1500 TPD Crushing
Area
- New 150 tonne live capacity coarse ore bin has been
completed.
- Pioneer 30x42 jaw crusher has been completely rebuilt, tested
and installed on its new foundation.
- Feeder from new coarse ore bin to the Pioneer jaw crusher and
additional conveyor belts to complete the crushing circuit
configuration are currently being installed.
- New scalping screen and product screen have been purchased and
awaiting delivery for installation.
- New self-cleaning magnet and metal detector over the existing
jaw crusher discharge conveyor have been installed and are in
service.
Grinding
Area
- Repairs to the large 11x15 Marcy ball mill in circuit 3 have
been completed. Rubber liners will be installed following
delivery.
- New pump box and a pair of 8x6 cyclone feed pumps have been
installed together with their dedicated classification
cyclones.
- A new electrical starter and clutch for the ball mill have been
ordered.
Flotation
Area
- Repairs to the existing bank of 3 Outokumpu 3,900 cubic foot
flotation cells have been completed. They have been fitted with new
mechanisms.
- Related launders and piping for individual concentrates have
been routed to their individual pump boxes fitted with vertical
2.5" Galigher pumps.
- New scavenger and cleaner cells have been fabricated using
existing available spare parts to complete the flotation section of
the mill circuit.
- New blower has been ordered to service the new flotation
cells.
Dewatering
Area
- Existing 40 foot water reclaim tank will be used for thickening
the concentrate of Circuit 3.
- Currently reviewing and evaluating proposals for the thickener
mechanism.
- New concentrate filter press from Bilfinger has been ordered.
Delivery from Europe will be in late April/May.
- Engineering of the layout and foundations for the press are
presently in progress.
Infrastructure
Power Line
Construction
Discussions with CFE, the Mexican electrical utility company, on
the new 34.5kv power line have been completed along with the study
covering the proposed location of the towers and power poles.
Permitting and consultation discussions with the Ejidos have been
taking place and the initial feedback has been favorable.
Construction of the power line will proceed once permits are in
place and any negotiations with the Ejidos affected by the new
power line have concluded and permits have been issued. The Company
estimates that the power line will be completed in Q4 2014.
New Tailing
Facility
A study to provide engineering services for the new tailings
facility is underway. Condemnation drilling and trenching for test
samples has been completed with no significant findings; there was
no sign of mineralization in the drill core. This work is expected
to take approximately 16 weeks to produce a report in support of
our application for a permit to dispose mill tailings in the new
storage area. The report will come complete with the dam design,
water reclamation system and the amount of fill material required
for the capital cost estimate.
Avino continues to make health and safety a top priority. The
Company recently established a new rescue facility for training
purposes and outfitted it with new equipment.
Photographs from management recent trip to the mine are
available on Avino's website or by clicking here.
Avino is very proud of its fleet of mining equipment and
processing facility. Since the Company re-commenced operations in
2010, its goal has been to create a modern and highly efficient
operation. We believe that we are reaching our goal by acquiring
brand new underground mining equipment which includes the latest
technology, such as GPS transmitters, that can send data to
centralized computers to generate monthly reports. These reports
are used to analyze the status of equipment to mitigate down time
and ensure efficient operation. Further, Management can monitor
equipment remotely and in real time to take corrective action
quickly.
About Avino
Avino is a silver and gold producer operating the Avino property
located in Durango, Mexico. The Company's mission is to become a
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" |
|
David Wolfin, |
Chief Executive Officer, |
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.
David WolfinChief Executive OfficerAvino Silver & Gold Mines
Ltd.604.682.3701604.682.3600www.avino.com
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