VANCOUVER, April 17, 2018 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM:
TSX/NYSE American, GV6: FSE, "Avino" or "the Company") is
pleased to announce first quarter 2018 production results from its
Avino property near Durango,
Mexico.
The silver equivalent production in Q1, 2018 increased by 9%
compared to Q1, 2017 due to an increase in the tonnage processed
and higher gold grades at the Avino Mine, together with higher
silver grades at the San Gonzalo Mine. The gold production in Q1,
2018 increased by 12% compared to Q1, 2017 whereas the silver and
copper production decreased by 3% and 5% respectively.
Consolidated Production Highlights for First Quarter 2018
(Compared to First Quarter 2017)
- Silver equivalent production increased by 9% to 656,699
oz*
- Gold production increased by 12% to 2,065 oz
- Silver production decreased by 3 % to 309,927 oz
- Copper production decreased by 5% to 970,165 lbs
*For comparison purposes, the silver equivalent ratio has
been calculated using metal prices of $16.77 oz Ag, $1,330 oz Au and $3.16 Lb Cu. Mill production figures have
not been reconciled and are subject to adjustment with concentrate
sales. Calculated figures may not add up due to
rounding.
"We're pleased with our first quarter production results, as
well as the progress being made around our expansion of the Avino
Mine and processing plant" said David
Wolfin, President and CEO. "We anticipate that the expansion
at the Avino Mine will be completed early in the second quarter of
2018, and we look forward to an enhanced production profile by the
end of the year."
Production Tables for First Quarter, 2018
Comparative production results from the first quarter 2018 and
the first quarter 2017 are presented below:
|
Q1
2018
|
Q1
2017
|
%
Change
|
Total Silver Eq.
Produced (oz) calculated*
|
656,699
|
604,643
|
9%
|
Total Gold Produced
(oz) calculated
|
2,065
|
1,837
|
12%
|
Total Silver Produced
(oz) calculated
|
309,927
|
320,082
|
-3%
|
Total Copper Produced
(Lbs) calculated
|
970,165
|
1,024,853
|
-5%
|
Production Table for First Quarter, 2018
Production
by
mine
|
Tonnes
Concentrate
Produced
|
Grade
Ag
(g/t)
|
Grade Au
(g/t)
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
2,177
|
56
|
0.58
|
0.43
|
81
|
68
|
84
|
178,848
|
1,544
|
970,165
|
480,315
|
San
Gonzalo
|
841
|
264
|
1.07
|
N/A
|
79
|
75
|
N/A
|
135,079
|
521
|
N/A
|
176,384
|
Consolidated
|
3,018
|
86
|
0.65
|
0.43
|
80
|
70
|
84
|
309,927
|
2,065
|
970,165
|
656,699
|
|
For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.77 oz Ag, $1,330 oz Au and $3.16 Lb Cu.
Mill production figures have not been reconciled and are subject to
adjustment with concentrate sales. Calculated figures may not
add up due to rounding.
|
Avino Mine First Quarter 2018 Production Results
Comparative figures for the first quarter 2018 and the first
quarter 2017 for the Avino Mine are as follows; production figures
for the first quarter 2018 include production from Mill Circuit 2
and Mill Circuit 3:
|
Q1
2018
|
Q1
2017
|
Quarterly
Change
%
|
Total Mill Feed (dry
tonnes)
|
120,631
|
116,553
|
3%
|
Feed Grade Silver
(g/t)
|
56
|
61
|
-8%
|
Feed Grade Gold
(g/t)
|
0.58
|
0.50
|
16%
|
Feed Grade Copper
(%)
|
0.43
|
0.44
|
-2%
|
Recovery Silver
(%)
|
81
|
86
|
-6%
|
Recovery Gold
(%)
|
68
|
67
|
1%
|
Recovery Copper
(%)
|
84
|
91
|
-8%
|
Total Silver Produced
(kg)
|
5,438
|
6,083
|
-11%
|
Total Gold Produced
(g)
|
48,036
|
38,935
|
23%
|
Total Copper Produced
(Kg)
|
440,060
|
464,866
|
-5%
|
Total Silver
Equivalent Produced (oz) calculated*
|
480,315
|
439,163
|
9%
|
|
* For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.77 oz Ag, $1,330 oz Au and $3.16 Lb Cu.
Mill production figures have not been reconciled and are subject to
adjustment with concentrate sales. Calculated figures may not
add up due to rounding.
|
At the Avino mine during the first quarter, we advanced 1,188
metres of underground development, and 116,155 tonnes of mill feed
were trucked to the plant for processing. An additional 4,476
tonnes from historic stockpiles were also processed during the
quarter. The blending of the historic stockpile material with fresh
underground material resulted in lower copper and silver recoveries
for the quarter. Gold feed grade for the quarter increased by 16%
and gold production for the quarter increased by 23%.
The construction of Mill Circuit #4 is almost complete, and the
installation of a filter press and a bank of flotation cells from
Outotec and piping for the thickener are now underway. This work is
expected to be completed later this month. The start-up and
commissioning of the ball mill for Mill Circuit 4 commenced during
the quarter with the flotation feed from the new ball mill
reporting to Mill Circuit 3's flotation cells. There have been no
issues encountered, and the mill is operating at design
capacity.
Development is now taking place at level 16.5 near a high grade
gold zone for potential future mill feed. Rehabilitation work at
the San Luis portal has also started. The portal entrance has been
stabilized with shotcrete and the areas with poor ground conditions
have been reinforced with wire mesh and rock anchors. A new
electrical substation near the portal has been installed to provide
power to the mine and piping for a new water line to the portal is
currently being installed.
San Gonzalo Mine First Quarter 2018 Production
Highlights
Comparative figures for the first quarter 2017
and the first quarter 2016 for the San Gonzalo mine are as
follows:
|
Q1 2018
|
Q1
2017
|
Quarterly
Change
%
|
Total Mill Feed (dry
tonnes)
|
20,186
|
20,133
|
0%
|
Feed Grade Silver
(g/t)
|
264
|
229
|
15%
|
Feed Grade Gold
(g/t)
|
1.1
|
1.2
|
-10%
|
Recovery Silver
(%)
|
79
|
84
|
-6%
|
Recovery Gold
(%)
|
75
|
76
|
-1%
|
Total Silver Produced
(kg)
|
4,201
|
3,873
|
8%
|
Total Gold Produced
(g)
|
16,206
|
18,182
|
-11%
|
Total Silver
Equivalent Produced (oz) calculated*
|
176,384
|
165,480
|
7%
|
|
*For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.77 oz Ag, $1,330 oz Au and $3.16 Lb Cu.
Mill production figures have not been reconciled and are subject to
adjustment with concentrate sales. Calculated figures may not
add up due to rounding.
|
The silver grades at San Gonzalo for Q1, 2018 increased by 15%
and the gold grades decreased by 10% compared to Q1, 2017, as a
result of the mineralization of the area being mined. Mill feed for
the quarter came for Levels 4-020, 5-020 and 6-020.
Underground development consisted of 362 metres of drifts, 255
metres of raises, and 134 metres of crosscuts for a total of 751
metres.
Additionally, the tonnage broken for the quarter was 14,677
tonnes. The plant availability for the first quarter 2018 was 96%,
and there were were no major shut downs other than the normal
scheduled daily monthly maintenance.
Zinc Circuit
The company continued its testing program
for recovery of precious metals and zinc from the San Gonzalo
tailings. In Q1, 2018, the Company produced 233 tonnes of low
quality zinc concentrate grading 1,582 g/t silver, 6.96 g/t gold
and 13.35% zinc for an additional 22,343 AgEq ounces. This product
is currently being marketed and if successful, this program will
continue.
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. All
concentrate shipments are assayed by one of the following
independent third party labs: AHK, and Inspectorate in the UK
and LSI in the Netherlands.
Qualified Person(s)
Avino's Mexican projects are under the supervision of
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 technical data in this
news release.
Company Announcements
Avino is pleased to introduce Peter
Latta to the technical Team as Senior Technical Advisor
where he will work closely with Avino's metallurgical team in
Vancouver and with company-wide
operations teams. Peter is a professional engineer, registered in
BC, with over 12 years' experience in the mining and minerals
sector. He has a bachelor's degree from UBC in Metals and Materials
engineering and also received his MBA from Simon Fraser University. He has spent his career at
mine operations around the world with a mixture of onsite equipment
operation, installation, commissioning and troubleshooting as well
as on the commercial side with business development and contract
negotiation. Peter brings his energy and experience to the Avino
team and the Company looks forward to his contributions for many
years to come.
About Avino
Avino is a silver and gold producer with a diversified pipeline
of gold, silver and base metals properties in Mexico and Canada employing close to 600 people, and has
created over 1,600 indirect jobs in Mexico. Avino produces from its wholly owned
Avino and San Gonzalo Mines near Durango,
Mexico, and is currently planning for future production at
the Bralorne Gold Mine in British
Columbia, Canada. The Company's gold and silver 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. Avino is 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 & Chief Executive
Officer
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 the updated mineral
resource estimate for the Company's Avino Property located near
Durango in west-central Mexico
(the "Property") with an effective date of January 31, 2018 prepared for the Company, and
reference 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 Property
does not have the amount of the mineral resources indicated in the
updated report 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; 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.
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.
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SOURCE Avino Silver & Gold
Mines Ltd.