Avino Silver Produces 96,254 Ounces of Silver Equivalent in February 2014
March 10 2014 - 8:00AM
Marketwired Canada
Avino Silver and Gold Mines Ltd. (NYSE MKT:ASM)(TSX VENTURE:ASM)(FRANKFURT:GV6)
("Avino" or "the Company") is pleased to announce the February 2014 production
results from its San Gonzalo mine and Avino Mine surface stockpile operations
located on the Avino property near Durango, Mexico.
February production from the San Gonzalo Mine and Avino Mine surface stockpiles
are presented below along with a comparison with January 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) 27 6,259 351 2.0 84 77
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Historic
Above
Ground
Stock
Piles
(Circuit
2) 27 6,171 96 0.73 66 62
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12,430
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Total Total
Total February January YTD
Silver Total 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) 59,138 301 77,979 83,437 (7)% 161,416
----------------------------------------------------------------------------
Historic
Above
Ground
Stock
Piles
(Circuit
2) 12,624 90 18,275 22,114 (17)% 40,389
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71,762 391 96,254 105,551 (9)% 201,805
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Silver equivalent was calculated using a 62.5:1 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 month of consistent operations in
February. Output was down marginally due to two fewer days in the month,
however, Avino's daily average silver equivalent production was able to
equal the output achieved in January, which was a record setting month. The
San Gonzalo mine continues to demonstrate consistent grades and recoveries"
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Circuit 1 - San Gonzalo
Comparative production numbers from January and February 2014 at San Gonzalo, as
well as 2014 yearly totals are reported as follows:
--------------------------------------------
Feb Jan Monthly
2014 2014 Change % YTD SG
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Total Mill Feed (dry tonnes) 6,259 6,509 (4) 12,768
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Average Daily Throughput (tpd) 232 224 4 228
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Days of Operation 27 29 (7) 56
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Feed Grade Silver (g/t) 351 358 (2) 355
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Feed Grade Gold (g/t) 2.0 2.0 0 2.0
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Bulk Concentrate (dry tonnes) 193 235 (18) 427
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Bulk Concentrate Grade Silver
(kg/t) 9.5 8.4 13 8.9
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Bulk Concentrate Grade Gold
(g/t) 48.6 42.1 15 45
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Recovery Silver (%) 84 85 (1) 84
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Recovery Gold (%) 77 77 0 77
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Mill Availability (%) 98.7 93.7 5 96.1
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Total Silver Produced (kg) 1,839 1,978 (7) 3,817
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Total Gold Produced (g) 9,376 9,882 (5) 19,258
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Total Silver Produced (oz)
calculated 59,138 63,580 (7) 122,718
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Total Gold Produced (oz)
calculated 301 318 (5) 619
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Total Silver Equivalent Produced
(oz) 77,979 83,437 (7) 161,416
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Silver equivalent was calculated using a 62.5:1 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.
February Highlights
-- Silver Equivalent ounces produced in February were lower by 7% than that
of January due mainly to two fewer operating days.
-- Feed grades of silver and gold together with their respective recoveries
were similar to those of January with little or no change.
-- Total tonnage processed was lower by 4%, however daily throughput was
higher due to higher plant availability.
-- The quality of concentrate produced was also better resulting in fewer
tons produced.
Circuit 2 - Avino Mine Stock Piles
Comparative production numbers from January and February 2014 from the Avino
Mine stock pile operation, as well as 2014 yearly totals are reported as
follows:
--------------------------------------------
Feb Jan
2014 2014 % Change YTD 2014
----------------------------------------------------------------------------
Total mill feed - (dry tonnes) 6,171 6,685 (8) 12,857
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Days of Operation 27 29 (7) 56
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Feed grade Silver - g/t 96 108 (11) 102
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Feed grade Gold - g/t 0.73 0.77 (5) 0.75
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Bulk concentrate - (dry tonnes) 53 77 (31) 130
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Bulk Concentrate Grade Silver
(kg/t) 7.48 6.35 18 6.81
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Bulk Concentrate Grade Gold
(g/t) 53.58 40.44 32 45.75
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Recovery Silver (%) 66 68 (3) 67
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Recovery Gold (%) 62 61 2 61
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Mill availability (%) 96.4 95.1 1 95.7
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Total Silver Produced (oz)
calculated 12,624 15,818 (20) 28,442
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Total Gold Produced (oz)
calculated 90 101 (11) 191
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Total Silver Eq. Produced (oz)
calculated 18,275 22,114 (17) 40,389
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Silver equivalent was calculated using a 62.5:1 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.
February Highlights
-- Silver and gold production was lower by 20% and 11% respectively to
those of January.
-- The lower production was due to two fewer operating days and lower feed
grades.
-- Total tonnage processed was lower by 8%.
-- Silver and gold recoveries were relatively the same as those of January.
-- The concentrate grade produced was higher and resulted in fewer tons
produced for the month.
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 various certified Labs in Europe and also 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 is a silver and gold producer operating the Avino property located in
Durango, Mexico. The Company's mission is to become the next mid-tier silver
producer 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.
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, 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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