Avino Mine Reopening Update
June 16 2014 - 8:00AM
Marketwired
Avino Mine Reopening Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 16, 2014) -
Avino Silver & Gold Mines Ltd.
(TSX-VENTURE:ASM)(NYSEMKT:ASM)(FRANKFURT:GV6) ("Avino" or "the
Company") is pleased to report that the dewatering operation of the
Avino mine was completed as of May 28, 2014. This operation was
initiated on November 24th, 2012 for a total of 482 days. During
this period, a total of 1,013,069 cubic metres of acidic water were
pumped and treated for the removal of base metals using lime. The
treated water, which met agricultural standards for discharge was
used for mill processes and the excess was gravity fed to the
company built La Caricol dam; sludge from the water treatment was
disposed of in the tailings storage facility.
"We are excited to be entering the final phase of our current
expansion on time and on budget. The expansion will significantly
increase our precious metal output starting in the fourth quarter.
Avino will continue to grow rapidly and become a successful
low-cost producer vaulting to mid-tier status in 2015."
- David Wolfin,
President & CEO, Avino Silver & Gold Mines Ltd.
With the mine dewatering complete, rehabilitation work on the
ramp and the mining area of level 11.5 has commenced. Broken
mineralized material that was blasted and ready for haulage in 2001
have been identified. This material has been sampled and assayed in
the mine laboratory to determine grade and will be hauled to the
surface stockpiles if deemed viable for processing. Service piping
for air and water, together with the electrical cables are being
strung to prepare for mining.
A building to house a one Megawatt generator and air compressor
has undergone the necessary repairs and is nearing completion. This
equipment which is in stock has been ordered from Caterpillar/Maqsa
using the credit facility. The equipment is now ready for
installation upon the completion of the building repairs. The
generator will supply underground power for the jumbo, ventilation
fans and mine pumps. The air compressor will supply compressed air
for the drills and the shotcrete machine for ground control.
A new jumbo and scoop for production mining are now on site and
will be put into operation once all the services are in place.
Caterpillar/Maqsa who have been commissioned to construct the
power line to supply power from the CFE grid to mill circuit 3 have
advised us that they are on schedule to have grid power available
by the fourth quarter of this year provided there are no delays in
the permitting process or with the landowners affected by the power
line. Ongoing discussions have been amicable.
In the process plant, efforts are underway to ensure all the
long lead items will be delivered on time as per the supplier's
schedule.
- Crushing plant screens - June delivery
- Mill clutch and starter - July delivery
- 40ft Thickener Mechanism - June delivery
- Filter Press - equipment being packaged for delivery from Italy
- August delivery
Based on the above delivery schedules, the Company is confident
Circuit #3 will be ready as noted in our project schedule in the
fourth quarter of this year.
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 but are not responsible for other
info.
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, 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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