Avino August Production Report
September 09 2013 - 8:00AM
Marketwired Canada
Avino Silver and Gold Mines Ltd. (TSX VENTURE:ASM)(NYSE MKT:ASM)(FRANKFURT:GV6)
("Avino" or "the Company") is pleased to announce the August 2013 production
results from its San Gonzalo mine and Historic Avino Mine surface stockpile
operations located on the Avino property near Durango, Mexico.
August production from the San Gonzalo Mine and Avino Mine surface stockpiles
are presented below along with a comparison with July output from both areas:
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Total Feed Feed
Mill Feed Grade Grade Recovery Recovery
Days of (metric Silver Gold Silver Gold
Operation tonnes) (g/t) (g/t) (%) (%)
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San Gonzalo
(Circuit 1) 30 6,678 283 1.51 85 75
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Historic Above
Ground Stock
Piles
(Circuit 2) 28 5,774 78 0.63 63 51
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12,452
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Total Total
Total Total August July
Silver Gold Silver Eq. Silver Eq. YTD
Produced Produced Produced Produced Silver Eq.
(oz) (oz) (oz) (oz) % Produced
Calculated Calculated Calculated Calculated Change Calculated
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San Gonzalo
(Circuit 1) 51,505 242 67,208 60,903 10.3 499,785
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Historic Above
Ground Stock
Piles
(Circuit 2) 9,151 59 13,016 16,665 (21) 67,520
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60,656 301 80,224 77,568 3.42 567,305
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Silver equivalent was calculated using a 65:1 ratio for silver to gold. 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.
We are pleased to see another month of consistent production with grades and
recoveries as anticipated. In August, we saw output increase significantly at
San Gonzalo as we begin to process higher grade material from level 5. These
recent production numbers coupled with our very encouraging Q2 financial data
present a promising picture for Q3 as metal markets continue to rebound from
their lows in June.
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
San Gonzalo
Production numbers from July and August 2013 at San Gonzalo, as well as 2013
yearly totals are reported as follows:
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Monthly
July-13 Aug-13 Change % YTD SG
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Total Mill Feed (dry tonnes) 6,372 6,678 4.8 52,760
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Average Daily Throughput (tpd) 212 223 5.2 225
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Days of Operation 30 30 0 234
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Feed Grade Silver (g/t) 285 283 (0.7) 292
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Feed Grade Gold (g/t) 1.31 1.51 15.3 1.29
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Bulk Concentrate (dry tonnes) 207 200 (3.4) 1,612
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Bulk Concentrate Grade Silver (kg/t) 7.25 7.99 10.2 7.88
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Bulk Concentrate Grade Gold (g/t) 29.6 37.5 26.7 30.6
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Recovery Silver (%) 82 85 3.7 82
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Recovery Gold (%) 73 75 2.7 72
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Mill Availability (%) 91.8 96.0 4.6 95.4
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Total Silver Produced (kg) 1,497 1,602 7.0 12,695
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Total Gold Produced (g) 6,111 7,514 23.0 49,350
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Total Silver Produced (oz)
calculated 48,131 51,505 7.0 408,139
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Total Gold Produced (oz) calculated 196 242 23.0 1,587
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Total Silver Equivalent Produced
(oz) 60,903 67,208 10.4 499,785
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Silver equivalent for January through June was calculated using a 55:1 ratio for
silver to gold, for the months of July and August a 65:1 ratio was used. (The
ratio was changed to reflect more current gold and silver prices.) 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.
August Highlights
-- Tonnage processed in August improved over July due to the better plant
availability of 96%.
-- Silver and gold recoveries were slightly better than those of July as
some feed from the higher grade 5th level was processed along with
material from level 4 during the month.
-- Gold feed grade was also higher due to material from the 5th level.
-- The higher gold feed grade and recovery resulted in an increase of 23%
over July gold production.
-- There was also a 7% increase in silver production due to the same
factors.
Circuit 2 - Avino Mine Stock Piles
Production numbers from Circuit 2 during April through August are presented
below as well as yearly totals:
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April May June July August % YTD
2013 2013 2013 2013 2013 Change 2013
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Total mill feed -
(dry tonnes) 4,040 5,917 6,324 5,922 5,774 (2.5) 27,976
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Days of Operation 19 30 29 30 28 (6.7) 136
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Feed grade Silver -
g/t 73 84 78 89 78 (12.4) 81
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Feed grade Gold -
g/t 0.79 0.70 0.84 0.83 0.63 (24.1) 0.76
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Bulk concentrate -
(dry tonnes) 49.84 66.05 84.42 80.52 48.53 (39.7) 329
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Bulk Concentrate
Grade Silver (kg/t) 3.977 4.833 3.509 4.310 5.865 36.1 4.388
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Bulk Concentrate
Grade Gold (g/t) 35.30 32.19 32.20 32.74 38.11 16.4 33.67
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Recovery Silver (%) 67 64 60 66 63 (4.5) 64
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Recovery Gold (%) 55 51 51 54 51 (5.6) 52
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Mill availability
(%) 63 83 96 87 84 (3.4) 88
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Total Silver
Produced (oz)
calculated 6,373 10,264 9,525 11,156 9,151 (18.0) 46,470
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Total Gold Produced
(oz) calculated 57 68 87 85 59 (30.6) 356
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Total Silver Eq.
Produced (oz)
calculated 9,484 14,023 14,332 16,665 13,016 (21.9) 67,520
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Silver equivalent for April through June was calculated using a 55:1 ratio for
silver to gold, for the months of July and August a 65:1 ratio was used. (The
ratio was changed to reflect more current gold and silver prices.) 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.
August Highlights
-- Two operating days were lost due to problems caused by the fuel pump
within the diesel generator servicing circuit 2.
-- As a result of the down days, tonnage processed was lower than in July.
-- In addition the feed grades of silver and gold were also lower than
those of July.
-- The lower tonnage combined with the lower grades resulted in lower
silver and gold production for August.
-- Better grade control on the stockpiled material is required for
improvement.
Quality Assurance/Quality Control
Mill assays are performed at the lab onsite at the mine. Check samples are
verified by SGS laboratory Services in Durango, Mexico and more recently at
Inspectorate Labs in Reno, Nevada. San Gonzalo concentrate shipments are assayed
at AH Knight in Manzanillo, Mexico; Avino stockpile concentrate shipments are
assayed at LSI in Rotterdam, Netherlands.
Stock Option Grant
Avino has granted an aggregate of 400,000 incentive stock options under its
stock option plan to its directors, officers, employees and consultants. The
Options are exercisable for up to five years at a price of $1.62 per share,
which is the last closing price of the Company's shares prior to the date of
grant.
The stock options are not transferrable and will be subject to a four-month hold
period from the date of grant and any applicable regulatory acceptance.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson, P.Eng, BSc, ARSM
Avino Consultant and Mr. 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.
Clarification
Due to mathematical error, the overall year to date silver equivalent production
reported in our August 8, 2013 news release should instead have been listed as
487,082 ounces of silver equivalent.
About Avino
Avino's mission is to create shareholder value 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.
Management remains focused on the following key objectives:
1. Maintain profitable mining operations at San Gonzalo while decreasing
operating costs and improving efficiency;
2. Increase mill throughput using the new circuit ("Circuit 2") that went
online in April 2013;
3. Develop the Avino mine for commercial production commencing in 2014;
4. Continue to review and develop plans to process the oxide tailings
resource from previous milling operations (PEA issued in 2012);
5. Continue to explore regional targets on the property and consider
acquisition opportunities.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avino Silver & Gold Mines Ltd.
David Wolfin
President & CEO
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com
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