Avino Expansion Update
April 23 2014 - 8:00AM
Marketwired Canada
Avino Silver & Gold Mines Ltd. (NYSE MKT:ASM)(TSX VENTURE:ASM)(FRANKFURT:GV6);
("Avino" or "the Company") is pleased to announce the following expansion update
from its Avino Mine located on Avino property located 80km northeast of Durango,
Mexico.
"Having just returned from a week at the mine site, I am extremely pleased
with the progress being made at the Avino Mine and the mill complex; with
the closing of the two financings in February, we are in great shape to
complete our expansion within 2014, as planned."
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Avino Mine Expansion
- Dewatering (93% Complete)
The Avino Mine is now dewatered down to level 10.5 with one more level to
go before the area where mining ceased in 2001 is reached. At the current
dewatering rate, it is anticipated that mining can commence in the 3rd
Quarter or possibly sooner pending completion of dewatering.
- Main Haulage Ramp Rehabilitation (85% Complete)
The ramp in general is in very good condition as the host rock is very
competent; areas where sloughing has occurred are being stabilized with
steel and timber sets and sprayed with shotcrete. The rehabilitation has
kept pace with dewatering so once dewatering in the final level is
complete the final rehabilitation will be swift.
- New Underground Mining Equipment (Received)
New Oldenberg single boom jumbo and Caterpillar RG 1600 six yard scoop
tram have been purchased using the Caterpillar credit facility; this
equipment is in addition to a scoop tram and air compressor that were
previously purchased for the rehabilitation work.
- 2 New Portable Mine Offices (Received)
- 5 New Personnel Mine Diesel Trucks (Received)
Process Plant Expansion
1500 TPD Crushing Area
-- New 150 tonne live capacity coarse ore bin has been completed.
-- Pioneer 30x42 jaw crusher has been completely rebuilt, tested and
installed on its new foundation.
-- Feeder from new coarse ore bin to the Pioneer jaw crusher and additional
conveyor belts to complete the crushing circuit configuration are
currently being installed.
-- New scalping screen and product screen have been purchased and awaiting
delivery for installation.
-- New self-cleaning magnet and metal detector over the existing jaw
crusher discharge conveyor have been installed and are in service.
Grinding Area
-- Repairs to the large 11x15 Marcy ball mill in circuit 3 have been
completed. Rubber liners will be installed following delivery.
-- New pump box and a pair of 8x6 cyclone feed pumps have been installed
together with their dedicated classification cyclones.
-- A new electrical starter and clutch for the ball mill have been ordered.
Flotation Area
-- Repairs to the existing bank of 3 Outokumpu 3,900 cubic foot flotation
cells have been completed. They have been fitted with new mechanisms.
-- Related launders and piping for individual concentrates have been routed
to their individual pump boxes fitted with vertical 2.5" Galigher pumps.
-- New scavenger and cleaner cells have been fabricated using existing
available spare parts to complete the flotation section of the mill
circuit.
-- New blower has been ordered to service the new flotation cells.
Dewatering Area
-- Existing 40 foot water reclaim tank will be used for thickening the
concentrate of Circuit 3.
-- Currently reviewing and evaluating proposals for the thickener
mechanism.
-- New concentrate filter press from Bilfinger has been ordered. Delivery
from Europe will be in late April/May.
-- Engineering of the layout and foundations for the press are presently in
progress.
Infrastructure
Power Line Construction
Discussions with CFE, the Mexican electrical utility company, on the new 34.5kv
power line have been completed along with the study covering the proposed
location of the towers and power poles. Permitting and consultation discussions
with the Ejidos have been taking place and the initial feedback has been
favorable. Construction of the power line will proceed once permits are in place
and any negotiations with the Ejidos affected by the new power line have
concluded and permits have been issued. The Company estimates that the power
line will be completed in Q4 2014.
New Tailing Facility
A study to provide engineering services for the new tailings facility is
underway. Condemnation drilling and trenching for test samples has been
completed with no significant findings; there was no sign of mineralization in
the drill core. This work is expected to take approximately 16 weeks to produce
a report in support of our application for a permit to dispose mill tailings in
the new storage area. The report will come complete with the dam design, water
reclamation system and the amount of fill material required for the capital cost
estimate.
Avino continues to make health and safety a top priority. The Company recently
established a new rescue facility for training purposes and outfitted it with
new equipment.
Photographs from management recent trip to the mine are available on Avino's
website or by clicking here.
Avino is very proud of its fleet of mining equipment and processing facility.
Since the Company re-commenced operations in 2010, its goal has been to create a
modern and highly efficient operation. We believe that we are reaching our goal
by acquiring brand new underground mining equipment which includes the latest
technology, such as GPS transmitters, that can send data to centralized
computers to generate monthly reports. These reports are used to analyze the
status of equipment to mitigate down time and ensure efficient operation.
Further, Management can monitor equipment remotely and in real time to take
corrective action quickly.
About Avino
Avino is a silver and gold producer operating the Avino property located in
Durango, Mexico. The Company's mission is to become a 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,
Chief Executive Officer,
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:
David Wolfin
Chief Executive Officer
Avino Silver & Gold Mines Ltd.
604.682.3701
604.682.3600 (FAX)
www.avino.com
Avino Silver & Gold Mines Ltd. (TSXV:ASM)
Historical Stock Chart
From May 2024 to Jun 2024
Avino Silver & Gold Mines Ltd. (TSXV:ASM)
Historical Stock Chart
From Jun 2023 to Jun 2024
