Avino October Production Report
November 11 2013 - 7:00AM
Marketwired Canada
Avino Silver & Gold Mines Ltd. ("Avino" or "the Company") is pleased to announce
the October 2013 production results from its San Gonzalo mine and Avino Mine
surface stockpile operations located on the Avino property near Durango, Mexico.
October production from the San Gonzalo Mine and Avino Mine surface stockpiles
are presented below along with a comparison with September output from both
areas:
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Total
Mill Feed Feed
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 6,468 264 1.22 85 72
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Historic
Above
Ground
Stock Piles
(Circuit 2) 30 6,671 96 1.20 61 51
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13,139
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Total Total
Total Total October September YTD
Silver Gold Silver Eq. Silver Eq. Silver
Produced Produced Produced Produced Eq.
(oz) (oz) (oz) (oz) % Produced
Calculated Calculated Calculated Calculated Change Calculated
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San Gonzalo
(Circuit 1) 46,448 182 58,279 59,073 (1.3) 617,137
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Historic
Above
Ground
Stock Piles
(Circuit 2) 12,628 133 21,242 18,329 15.9 107,091
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59,076 315 79,521 77,402 2.7 724,228
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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 report another consistent month of operations at the mine and
mill; further demonstrating the reliability of our operations"
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
San Gonzalo
Comparative production numbers from October and September 2013 at San Gonzalo,
as well as 2013 yearly totals are reported as follows:
-----------------------------------
Oct Sept Monthly
2013 2013 Change % YTD SG
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Total Mill Feed (dry tonnes) 6,468 6,301 2.7 65,529
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Average Daily Throughput (tpd) 216 217 (0.5) 223
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Days of Operation 30 29 3.4 293
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Feed Grade Silver (g/t) 264 277 (4.7) 288
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Feed Grade Gold (g/t) 1.22 1.27 (3.9) 1.29
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Bulk Concentrate (dry tonnes) 202 203 (0.5) 2,017
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Bulk Concentrate Grade Silver (kg/t) 7.15 7.15 0 7.73
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Bulk Concentrate Grade Gold (g/t) 28.0 29.5 (5.1) 30.24
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Recovery Silver (%) 85 83 2.4 83
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Recovery Gold (%) 72 75 (4.0) 72
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Mill Availability (%) 94.6 97.6 (3.1) 95.6
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Total Silver Produced (kg) 1,445 1,449 (0.3) 15,588
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Total Gold Produced (g) 5,661 5,979 (5.3) 6,099
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Total Silver Produced (oz) calculated 46,448 46,579 (0.3) 501,166
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Total Gold Produced (oz) calculated 182 192 (5.3) 1,961
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Total Silver Equivalent Produced (oz) 58,279 59,073 (1.3) 617,137
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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.
October Highlights
-- Tonnage processed was slightly higher in October than September due to
the extra operating day, despite mill availability being lower during
the month.
-- Silver and gold feed grades were lower in October as more development
material was processed.
-- Silver recovery was higher in October, whereas gold was lower
-- The above factors resulted in a slight decrease in silver production,
while gold production was lower by 5.3% compared to September.
Circuit 2 - Avino Mine Stock Piles
Comparative production numbers from October and September 2013 from the Avino
Mine stock pile operation, as well as 2013 yearly totals are reported as
follows:
------------------------------------------------
Oct Sept
2013 2013 % Change YTD 2013
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Total mill feed - (dry
tonnes) 6,671 6,583 1.3 41,231
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Days of Operation 30 29 3.4 195
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Feed grade Silver - g/t 96 85 12.9 84
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Feed grade Gold - g/t 1.20 0.85 41 0.85
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Bulk concentrate - (dry
tonnes) 93.93 80.99 16.0 504.28
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Bulk Concentrate Grade
Silver (kg/t) 4.181 4.658 (10.2) 4.393
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Bulk Concentrate Grade Gold
(g/t) 43.88 36.63 19.8 36.05
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Recovery Silver (%) 61 67 (9.0) 64
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Recovery Gold (%) 51 53 (3.8) 52
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Mill availability (%) 94 97 (3.1) 90
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Total Silver Produced (oz)
calculated 12,628 12,129 4.1 71,226
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Total Gold Produced (oz)
calculated 133 95 4.0 584
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Total Silver Eq. Produced
(oz) calculated 21,242 18,329 15.9 107,091
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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.
October Highlights
-- Gold and silver feed grades were up significantly during the month,
resulting in a 40% increase in gold production and a 4.1% increase in
silver production, albeit recovery of both metals were lower.
-- Concentrate grade was also lower, resulting in the 16% increase in
concentrate tonnes produced.
-- Mill availability was 3.1% lower due to power outages and regular
maintenance.
Quality Assurance/Quality Control
Mill assays are performed at the mine's on-site lab. Check samples are verified
by Inspectorate Labs in Reno, Nevada. San Gonzalo concentrate shipments are
assayed at AH Knight in Manzanillo, Mexico. The Avino stockpile concentrate
shipments are assayed at LSI in Rotterdam, Netherlands.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson, P.Eng, Avino
Consultant and 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.
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. Develop the Avino mine for mineral production, expand mill output from
500 to 1,500 tpd;
3. Continue to review and develop plans to process the oxide tailings
resource from previous milling operations (PEA issued in 2012);
4. Continue to explore regional targets on the property followed by other
properties in our portfolio.
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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