VANCOUVER, Jan. 16, 2018 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM:
TSX/NYSE American, GV6: FSE, "Avino" or "the Company") is
pleased to report its fourth quarter 2017 and full year 2017
production results from its Avino property near Durango, Mexico.
Consolidated Production Highlights for 2017 (Compared to
2016)
- Silver equivalent production increased 1% to 2,700,585 oz*
- Silver production decreased 14% to 1,394,203 oz
- Gold production increased 11% to 7,935 oz
- Copper production increased 4% to 4,373,166 lbs
Consolidated Production Highlights for Fourth Quarter, 2017
(Compared to Fourth Quarter, 2016)
- Silver equivalent production decreased 10% to 637,012 oz*
- Silver production decreased 24% to 319,678 oz
- Gold production decreased 43% to 1,472 oz
- Copper production increased 47% to 1,108,800 lbs
*In 2017, AgEq was
calculated using metals prices of $17.05 oz Ag, $1,258 oz Au and
$2.80 lb Cu. In 2016, AgEq was calculated using $17.10 oz Ag,
$1,248 oz Au and $2.21 lb Cu
|
"We are very pleased to have achieved another year of
consistent production which was in line with our 2017 internal
projections. Although there were a few challenges throughout the
year, our operations teams were successful in resolving issues that
arose. At the Avino Mine, the expansion is now 90% complete
and we are looking forward to increasing throughput capacity within
months. 2018 will be a busy year for Avino, which is also our
50th Anniversary, and within the coming weeks we expect
to release drill results, 2017 in review, outlook for 2018, and an
updated NI 43-101 mineral resource from the Avino Mine. I
would like to thank the teams in Mexico and Canada for their dedicated efforts."
- David
Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Consolidated 2017 Production Highlights
Comparative production numbers from 2017 and 2016 are presented
below:
|
2017
|
2016
|
%
Change
|
Total Silver Produced
(oz) calculated
|
1,394,203
|
1,612,060
|
-14%
|
Total Gold Produced
(oz) calculated
|
7,935
|
7,119
|
11%
|
Total Copper Produced
(lbs) calculated
|
4,373,166
|
4,206,585
|
4%
|
Total Silver Eq.
Produced (oz) calculated*
|
2,700,585
|
2,679,334
|
1%
|
|
*In 2017, AgEq was
calculated using metals prices of $17.05 oz Ag, $1,258 oz Au and
$2.80 lb Cu. In 2016, AgEq was calculated using $17.10 oz Ag,
$1,248 oz Au and $2.21 lb Cu
|
Consolidated Fourth Quarter 2017 Production
Highlights
Comparative production numbers from the fourth quarters of 2017
and 2016 are presented below:
|
Q4
2017
|
Q4
2016
|
%
Change
|
Total Silver Produced
(oz) calculated
|
319,678
|
419,355
|
-24%
|
Total Gold Produced
(oz) calculated
|
1,472
|
2,581
|
-43%
|
Total Copper Produced
(lbs) calculated
|
1,108,800
|
755,645
|
47%
|
Total Silver Eq.
Produced (oz) calculated*
|
637,012
|
707,775
|
-10%
|
|
*In 2017, AgEq was
calculated using metals prices of $17.05 oz Ag, $1,258 oz Au and
$2.80 lb Cu. In 2016, AgEq was calculated using $17.10 oz Ag,
$1,248 oz Au and $2.21 lb Cu
|
Avino Mine Production Highlights
Comparative figures for the years ended December 31, 2017, and December 31, 2016, as well as the fourth quarter
2017 and the fourth quarter of 2016 for the Avino Mine are as
follows:
|
Q4
2017
|
Q4
2016
|
%
Change
|
2017
|
2016
|
%
Change
|
Notes
|
Tonnes
Mined
|
111,040
|
103,266
|
8%
|
462,279
|
450,281
|
3%
|
1,7
|
Underground
Development (m)
|
648
|
756
|
-14%
|
2,898
|
4,005
|
-28%
|
1,7
|
Mill Availability
(%)
|
90.3
|
95.6
|
-6%
|
95.5
|
94.0
|
2%
|
2
|
Total Mill Feed (dry
tonnes)
|
109,088
|
101,157
|
8%
|
460,890
|
429,289
|
7%
|
3,8
|
Feed Grade Silver
(g/t)
|
50
|
65
|
-23%
|
64
|
67
|
-4%
|
4,9
|
Feed Grade Gold
(g/t)
|
0.322
|
0.69
|
-53%
|
0.516
|
0.42
|
23%
|
4,9
|
Feed Grade Copper
(%)
|
0.523
|
0.37
|
41%
|
0.484
|
0.50
|
-3%
|
4,9
|
Recovery Silver
(%)
|
87%
|
85%
|
2%
|
85%
|
85%
|
0%
|
5
|
Recovery Gold
(%)
|
69%
|
69%
|
0%
|
69%
|
64%
|
8%
|
5
|
Recovery Copper
(%)
|
88%
|
91%
|
-3%
|
89%
|
90%
|
-1%
|
5
|
Copper Concentrate
(dry tonnes)
|
2,281
|
2,094
|
9%
|
9,782
|
9,390
|
4%
|
6,10
|
Copper Concentrate
Grade Silver (kg/t)
|
2.09
|
2.67
|
-22%
|
2.56
|
2.62
|
-2%
|
6,10
|
Copper Concentrate
Grade Gold (g/t)
|
10.59
|
22.87
|
-54%
|
16.72
|
12.23
|
37%
|
6,10
|
Copper Concentrate
Grade Copper (%)
|
22.05
|
16.37
|
35%
|
20.28
|
20.32
|
0%
|
6,11
|
Total Silver Produced
(kg)
|
4,756
|
5,584
|
-15%
|
24,990
|
24,552
|
2%
|
6,11
|
Total Gold Produced
(g)
|
24,161
|
47,891
|
-50%
|
163,582
|
114,812
|
42%
|
6,11
|
Total Copper Produced
(Kg)
|
502,944
|
342,755
|
47%
|
1,983,637
|
1,908,077
|
4%
|
6,11
|
Total Silver Produced
(oz) calculated
|
152,908
|
179,536
|
-15%
|
803,438
|
789,372
|
2%
|
6,11
|
Total Gold Produced
(oz) calculated
|
777
|
1,540
|
-50%
|
5,259
|
3,691
|
42%
|
6,11
|
Total Copper Produced
(Lbs) calculated
|
1,108,800
|
755,645
|
47%
|
4,373,166
|
4,206,585
|
4%
|
6,11
|
Total Silver
Equivalent Produced (oz) calculated
|
417,182
|
394,149
|
6%
|
1,911,428
|
1,606,272
|
19%
|
6,11
|
|
*In 2017, AgEq was
calculated using metals prices of $17.05 oz Ag, $1,258 oz Au and
$2.80 lb Cu. In 2016, AgEq was calculated using $17.10 oz Ag,
$1,248 oz Au and $2.21 lb Cu
|
Avino Mine Fourth Quarter 2017 Production Highlights
1.
|
Tonnage mined
increased by 8%, whereas the underground development decreased by
14% as we transition to production mining on the levels that have
already been developed to provide mill feed on a sustained
basis.
|
2.
|
Mill availability was
down 6% for the quarter due to the downtime associated with the
commissioning of the new HP5 crusher in October. There was
insufficient crushed mill feed for the Avino circuit. This
has been rectified with the technical assistance from Metso, who
are the suppliers of the crusher.
|
3.
|
Tonnage processed
increased by 8% as Circuit 2 was dedicated to processing Avino
material rather than the San Gonzalo for the entire
quarter.
|
4.
|
Feed material for the
quarter primarily came from the main Avino vein, resulting in
higher copper, and lower gold and silver, and therefore reflective
of the changes of 41%, -53%, and -23% respectively.
|
5.
|
With the change in
feed and minerology, copper recovery was down 3%, no change in gold
recovery and silver recovery increased by 2%.
|
6.
|
The changes in the
quality of the mill feed resulted in 9% more concentrate produced
and the grade of copper increased by 35%, whereas the gold and
silver grades decreased by 54% and 22% respectively. In
addition, copper production increased by 47%, gold decreased by 50%
and silver decreased by 15% resulting in an increase of 6% in
silver equivalent ounces for the quarter.
|
Avino Mine 2017 Year-End Production Highlights
7.
|
The year over year
change in mined tonnes and development is attributed primarily to
the transition from development to production mining.
|
8.
|
Tonnage processed
increased by 7% as Circuit 2 was used exclusively to process Avino
material.
|
9.
|
Gold feed grade
increased by 23% whereas copper and silver decreased by 3% and 4%
respectively; the changes in grades are due to the mineralisation
in the areas being mined.
|
10.
|
Concentrate
production increased by 4% with little to no change in the copper
and silver grades but the gold increased by 37% due to the higher
mill feed.
|
11.
|
Gold production
increased by 42%, copper by 4% and silver by 2% resulting in 19%
more silver equivalent ounces of production.
|
San Gonzalo Mine Production Highlights
Comparative figures for the years ended December 31, 2017, and December 31, 2016, as well as the fourth quarter
2017 and the fourth quarter of 2016 for the San Gonzalo Mine are as
follows:
|
Q4
2017
|
Q4
2016
|
%
Change
|
2017
|
2016
|
%
Change
|
Notes
|
Tonnes
Mined
|
17,640
|
29,678
|
-41%
|
80,587
|
108,943
|
-26%
|
1
|
Underground
Advancement (m)
|
712
|
1,062
|
-33%
|
3,379
|
4,433
|
-24%
|
1
|
Mill Availability
(%)
|
95.3
|
94.1
|
1%
|
95.4
|
94.4
|
1%
|
|
Total Mill Feed (dry
tonnes)
|
20,467
|
33,511
|
-39%
|
81,045
|
115,047
|
-30%
|
2,6
|
Feed Grade Silver
(g/t)
|
290
|
262
|
11%
|
269
|
267
|
1%
|
4,7
|
Feed Grade Gold
(g/t)
|
1.36
|
1.16
|
17%
|
1.32
|
1.25
|
6%
|
4,7
|
Recovery Silver
(%)
|
87%
|
85%
|
3%
|
84%
|
83%
|
1%
|
4
|
Recovery Gold
(%)
|
77%
|
83%
|
-7%
|
78%
|
74%
|
5%
|
4
|
Bulk Concentrate (dry
tonnes)
|
891
|
1,130
|
-21%
|
3,167
|
4,115
|
-23%
|
3,8
|
Bulk Concentrate
Grade Silver (kg/t)
|
5.82
|
6.60
|
-12%
|
5.80
|
6.22
|
-7%
|
3
|
Bulk Concentrate
Grade Gold (g/t)
|
24.26
|
28.6
|
-15%
|
26.27
|
25.90
|
1%
|
3
|
Total Silver Produced
(kg)
|
5,187
|
7,459
|
-30%
|
18,375
|
25,588
|
-28%
|
5,9
|
Total Gold Produced
(g)
|
21,612
|
32,379
|
-33%
|
83,215
|
106,599
|
-22%
|
5,9
|
Total Silver Produced
(oz) calculated
|
166,770
|
239,819
|
-30%
|
590,765
|
822,689
|
-28%
|
5,9
|
Total Gold Produced
(oz) calculated
|
695
|
1,041
|
-33%
|
2,675
|
3,427
|
-22%
|
5,9
|
Total Silver
Equivalent Produced (oz) calculated
|
219,830
|
313,626
|
-30%
|
789,157
|
1,073,062
|
-26%
|
3,9
|
|
*In 2017, AgEq was
calculated using metals prices of $17.05 oz Ag, $1,258 oz Au and
$2.80 lb Cu. In 2016, AgEq was calculated using $17.10 oz Ag,
$1,248 oz Au and $2.21 lb Cu
|
San Gonzalo Mine Fourth Quarter 2017 Production
Highlights
1.
|
Tonnage mined and
underground advancement decreased by 41% and 33% respectively as
there were fewer blocks available for mining and development
work.
|
2.
|
Tonnage processed
decreased by 39% as Circuit 2 was used entirely for Avino
material.
|
3.
|
The lower tonnage
throughput resulted in 30% fewer silver equivalent ounces produced
and 21% less concentrate tonnage.
|
4.
|
Silver and gold feed
grades increased by 18% and 11% respectively and the recovery for
silver was up 3% whereas gold decreased by 7%.
|
5.
|
As a result of the
above factors the silver and gold production decreased by 30% and
33% respectively.
|
San Gonzalo Mine 2017 Year-End Production Highlights
6.
|
Tonnage processed for
the year decreased by 30% as Circuit 2 was used for processing
Avino Mine Material, whereas in 2016, there were some months when
this circuit was used for San Gonzalo material.
|
7.
|
Silver and gold feed
grades increased slightly by 1% and 6%, respectively, as less
marginal material was processed.
|
8.
|
The lower tonnage
throughput resulted in 23% lower concentrate tonnage.
|
9.
|
Silver and gold
production decreased by 28% and 22% respectively, resulting in an
overall decrease of 26% in silver equivalent ounces produced in
2017.
|
Quality Assurance/Quality Control
Mill assays are performed at the Avino's on-site lab. Check
samples are sent to SGS Labs in Durango,
Mexico for verification. All concentrate shipments are
assayed by one of the following independent third party labs: AHK,
Inspectorate in the UK, and LSI in the
Netherlands.
Qualified Person(s)
Avino's Mexican projects are under the supervision Jasman Yee P.Eng, Avino director, who is a
qualified person within the context of National Instrument 43-101,
he has reviewed and approved the production data in this news
release.
About Avino
Avino is a silver and gold producer with a diversified pipeline
of gold, silver and base metals exploration properties in
Mexico and Canada employing approximately 500
people. Avino produces from its wholly owned Avino and San
Gonzalo Mines near Durango,
Mexico, and is currently ramping up for future production at
its Bralorne Gold Mine in British
Columbia, Canada. Avino's silver and gold 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 near Durango,
Mexico, and the strategic acquisition of mineral exploration
and mining properties. We are committed to managing all business
activities in an environmentally responsible and cost-effective
manner, while contributing to the well-being of the communities in
which we operate.
On Behalf of the Board
"David
Wolfin"
________________________________
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, exploration
results, the potential tonnage, grades and content of deposits, and
timing, establishment and extent of resource 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 with certain other
projects; the absence of dividends; currency fluctuations;
competition; dilution; the volatility of 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 the Toronto Stock Exchange ("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
presentation
SOURCE Avino Silver & Gold
Mines Ltd.