VANCOUVER, BC, July 17, 2020 /PRNewswire/ - Avino Silver & Gold Mines Ltd. (TSX:
ASM) (NYSE American: ASM) (FSE: GV6) ("Avino" or "the
Company") reports that production of 158,286 silver equivalent
ounces*, 50,581 silver ounces, 459,767 copper lbs, and 404 gold
ounces was achieved in the second quarter 2020 from its Avino Mine
property near Durango, Mexico.
As a result of the temporary shutdown due to Covid-19, all
production results were lower than anticipated compared to Q2
2019.
Mining operations were temporarily suspended at the beginning of
April as mandated by the Mexican government and the Avino Mine
transitioned to care and maintenance utilizing a reduced workforce
to protect employees, contractors, and the local communities.
On June 1, 2020, Avino was
approved by the Secretariat of Health to recommence regular mining
activities in an orderly, gradual and cautious manner.
2020 Second Quarter Highlights
- Increase in recovery rates and grades at the Avino Mine:
On a metal-by-metal basis, recovery rates were higher and the
grades rose slightly
- Avino Mine Avino Mine Successfully Recommenced
Operations: The ramp-up began June 1st, working towards achieving
production levels experienced prior to March
31, 2020
"We are encouraged by the higher recoveries achieved in the
second quarter, and the progress made in the ramp-up to full
production which was underway once mining operations were allowed
to resume in early June", said David
Wolfin, President and CEO. "In addition, I am pleased
to report that despite the challenges related to the Covid-19
pandemic, the Company's combined operational and health and safety
measures enabled us to continue with concentrate shipments from
established stockpiles of material and, because of our established
Crisis Management Plan, we had a well-executed response for
stringent Covid-19 transmission prevention. Finally, due to the
disappointing strike action at site last week, we reiterate that
the Company remains receptive to having good-faith discussions with
authorized representatives of the union."
During Q2 2020 production came from the Avino mine only.
Avino Production Highlights for Q2 2020 (Compared to Q2
2019)
- Silver equivalent production decreased by 56% to 158,286
oz*
- Copper production decreased by 54% to 459,767 lbs
- Silver production decreased by 52% to 50,581 oz
- Gold production decreased by 50% to 404 oz
* In Q2,
2020, AgEq was calculated using metals prices of $16.38 oz Ag,
$1,707 oz Au and $2.45 lb Cu. In Q2, 2019, AgEq was
calculated using metals prices of $14.88 oz Ag, $1,309 oz Au and
$2.77 lb Cu. Calculated figures may not add up due to
rounding.
|
Management expects to update shareholders on plans for the
second half of 2020 when it reports the Q2, 2020 financial results
in August.
The recoveries and grades at the Avino mine were marginally
higher in Q2 2020 compared to Q2 2019.
Consolidated Production Tables
Q2
2020
|
Production by
Mine
|
Tonnes
Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
40,190
|
50,581
|
404
|
459,767
|
158,286
|
Historic Above Ground
Stockpiles
|
-
|
-
|
-
|
-
|
-
|
Consolidated
|
40,190
|
50,581
|
404
|
459,767
|
158,286
|
YTD
2020
|
Production by
Mine
|
Tonnes
Processed
|
Silver
Oz
|
Gold
Oz
|
Copper
Lbs
|
AgEq
|
Avino
|
199,575
|
312,819
|
1,916
|
2,263,082
|
835,370
|
Historic Above Ground
Stockpiles
|
4,711
|
4,481
|
19
|
4,857
|
6,860
|
Consolidated
|
204,286
|
317,299
|
1,935
|
2,267,939
|
842,230
|
Q2
2020
|
Grade &
Recovery by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
43
|
0.40
|
0.58
|
90%
|
79%
|
90%
|
Historic Above Ground
Stockpiles
|
-
|
-
|
-
|
-
|
-
|
-
|
Consolidated
|
43
|
0.40
|
0.58
|
90%
|
79%
|
90%
|
YTD
2020
|
Grade &
Recovery by Mine
|
Grade
Ag g/t
|
Grade
Au g/t
|
Grade
Cu %
|
Recovery
Ag %
|
Recovery
Au %
|
Recovery
Cu %
|
Avino
|
54
|
0.40
|
0.58
|
90%
|
75%
|
88%
|
Historic Above Ground
Stockpiles
|
59
|
0.31
|
0.15
|
50%
|
41%
|
31%
|
Consolidated
|
54
|
0.40
|
0.57
|
89%
|
74%
|
87%
|
Avino Mine Production Highlights
|
Q2
2020
|
Q2
2019
|
Quarterly
Change
|
YTD
2020
|
Total Mill Feed (dry
tonnes)
|
40,190
|
96,707
|
-58%
|
199,575
|
Feed Grade Silver
(g/t)
|
43
|
41
|
4%
|
54
|
Feed Grade Gold
(g/t)
|
0.40
|
0.38
|
6%
|
0.40
|
Feed Grade Copper
(%)
|
0.58
|
0.56
|
4%
|
0.58
|
Recovery Silver
(%)
|
90%
|
81%
|
11%
|
90%
|
Recovery Gold
(%)
|
79%
|
69%
|
15%
|
75%
|
Recovery Copper
(%)
|
90%
|
84%
|
6%
|
88%
|
Total Silver Produced
(oz)
|
50,581
|
104,893
|
-52%
|
312,819
|
Total Gold Produced
(oz)
|
404
|
800
|
-50%
|
1,916
|
Total Copper Produced
(Lbs)
|
459,767
|
1,003,995
|
-54%
|
2,263,082
|
Total Silver
Equivalent Produced (oz)*
|
158,286
|
362,445
|
-56%
|
835,370
|
* In Q2,
2020, AgEq was calculated using metals prices of $16.38 oz Ag,
$1,707 oz Au and $2.45 lb Cu. In Q2, 2019, AgEq was
calculated using metals prices of $14.88 oz Ag, $1,309 oz Au and
$2.77 lb Cu. Calculated figures may not add up due to
rounding.
|
Mine Update
Further to the company's press release dated July 10, 2020, good-faith negotiations with
representatives of the authorized union are ongoing and an update
will be provided when further information is available.
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. Gold and
silver assays are performed by the fire assay method with the
gravimetric finish for the concentrates and the AAS methods for
copper, lead, zinc and silver for the feed and tail grade samples.
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)
Peter Latta, P.Eng, MBA, VP
Technical Services, Avino who is a qualified person within the
context of National Instrument 43-101 has reviewed and approved the
technical data in this news release.
About Avino
Avino is a silver and gold producer with a diversified pipeline
of gold, silver and base metals properties in Mexico. Avino produces from its wholly owned
Avino Mine near Durango, Mexico.
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 February 21, 2018, and amended on December 19, 2018, including but are not limited
to, the Company's ability to meet its production guidance at levels
achieved prior to March 31,
2020. 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 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.
View original
content:http://www.prnewswire.com/news-releases/avino-announces-q2-2020-production-results-301095375.html
SOURCE Avino Silver & Gold
Mines Ltd.