Avino Silver Produces 96,254 Ounces of Silver Equivalent in February 2014
March 10 2014 - 8:00AM
Marketwired
Avino Silver Produces 96,254 Ounces of Silver Equivalent in
February 2014
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 10, 2014) -
Avino Silver and Gold Mines Ltd.
(NYSEMKT: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:
|
Days of Operation |
Total Mill Feed (metric tonnes) |
Feed Grade Silver (g/t) |
Feed Grade Gold (g/t) |
Recovery Silver (%) |
|
Recovery Gold (%) |
Total Silver Produced (oz) Calculated |
Total Gold Produced (oz) Calculated |
Total February Silver Eq. Produced (oz) Calculated |
Total January Silver Eq. Produced (oz) Calculated |
% Change |
|
YTD Silver Eq. Produced Calculated |
San Gonzalo (Circuit 1) |
27 |
6,259 |
351 |
2.0 |
84 |
|
77 |
59,138 |
301 |
77,979 |
83,437 |
(7)% |
|
161,416 |
Historic Above Ground Stock Piles (Circuit 2) |
27 |
6,171 |
96 |
0.73 |
66 |
|
62 |
12,624 |
90 |
18,275 |
22,114 |
(17)% |
|
40,389 |
|
12,430 |
|
71,762 |
391 |
96,254 |
105,551 |
(9)% |
|
201,805 |
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 2014 |
Jan 2014 |
Monthly Change % |
YTD SG |
Total Mill Feed (dry tonnes) |
6,259 |
6,509 |
(4) |
12,768 |
Average Daily Throughput (tpd) |
232 |
224 |
4 |
228 |
Days of Operation |
27 |
29 |
(7) |
56 |
Feed Grade Silver (g/t) |
351 |
358 |
(2) |
355 |
Feed Grade Gold (g/t) |
2.0 |
2.0 |
0 |
2.0 |
Bulk Concentrate (dry tonnes) |
193 |
235 |
(18) |
427 |
Bulk Concentrate Grade Silver (kg/t) |
9.5 |
8.4 |
13 |
8.9 |
Bulk Concentrate Grade Gold (g/t) |
48.6 |
42.1 |
15 |
45 |
Recovery Silver (%) |
84 |
85 |
(1) |
84 |
Recovery Gold (%) |
77 |
77 |
0 |
77 |
Mill Availability (%) |
98.7 |
93.7 |
5 |
96.1 |
Total Silver Produced (kg) |
1,839 |
1,978 |
(7) |
3,817 |
Total Gold Produced (g) |
9,376 |
9,882 |
(5) |
19,258 |
Total Silver Produced (oz) calculated |
59,138 |
63,580 |
(7) |
122,718 |
Total Gold Produced (oz) calculated |
301 |
318 |
(5) |
619 |
Total Silver Equivalent Produced (oz) |
77,979 |
83,437 |
(7) |
161,416 |
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 2014 |
Jan 2014 |
% Change |
YTD 2014 |
Total mill feed - (dry tonnes) |
6,171 |
6,685 |
(8) |
12,857 |
Days of Operation |
27 |
29 |
(7) |
56 |
Feed grade Silver - g/t |
96 |
108 |
(11) |
102 |
Feed grade Gold - g/t |
0.73 |
0.77 |
(5) |
0.75 |
Bulk concentrate - (dry tonnes) |
53 |
77 |
(31) |
130 |
Bulk Concentrate Grade Silver (kg/t) |
7.48 |
6.35 |
18 |
6.81 |
Bulk Concentrate Grade Gold (g/t) |
53.58 |
40.44 |
32 |
45.75 |
Recovery Silver (%) |
66 |
68 |
(3) |
67 |
Recovery Gold (%) |
62 |
61 |
2 |
61 |
Mill availability (%) |
96.4 |
95.1 |
1 |
95.7 |
Total Silver Produced (oz) calculated |
12,624 |
15,818 |
(20) |
28,442 |
Total Gold Produced (oz) calculated |
90 |
101 |
(11) |
191 |
Total Silver Eq. Produced (oz) calculated |
18,275 |
22,114 |
(17) |
40,389 |
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.
Avino Silver & Gold Mines Ltd.David WolfinPresident &
CEO604.682.3701604.682.3600ir@avino.comwww.avino.com
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