In the news release, Avino Announces Q2 2018 Production Results,
issued 18-Jul-2018 by Avino Silver & Gold Mines Ltd. over Cision,
we are advised by the company that an incorrect figure appeared in
the third table (Avino Mine Second Quarter, 2018 Production
Results). The correct value for the Q2, 2017 "Total Copper
Produced" was reported in pounds when it should have been reported
in kilograms. The correct figure is 513,994 kilograms as opposed to
1,133,161 pounds. This does not affect the 27% increase in copper
production, or any other figures stated in the release.
Additionally, in the second table (Production Table for Second
Quarter, 2018), first column, the production at the Avino mine
should have read 119,839 tonnes processed, as opposed to 118,839 as
originally issued inadvertently. The complete, corrected release
follows:
Avino Announces Q2 2018 Production Results
VANCOUVER, July 18, 2018 /PRNewswire/ - Avino Silver
& Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, "Avino" or
"the Company") is pleased to announce its second quarter, 2018
production results from its Avino property near Durango, Mexico.
Silver equivalent production in Q2, 2018 increased by 6%
compared to Q2, 2017 due to extra production from the commissioning
of Mill Circuit 4. Copper production in Q2, 2018 increased by 31%
compared to Q2, 2017, and silver and gold production decreased by
16% and 11%, respectively; the latter are due to lower silver and
gold feed grades from the Avino and San Gonzalo mines.
Consolidated Production Highlights for Second Quarter, 2018
(Compared to Second Quarter, 2017)
- Silver equivalent production increased by 6% to 738,853
oz*
- Gold production decreased by 11% to 1,734 oz
- Silver production decreased by 16% to 323,014 oz
- Copper production increased by 31% to 1,480,830 lbs
*For comparison purposes, the silver equivalent ratio has
been calculated using metal prices of $16.53 oz Ag, $1,307 oz Au and $3.12 Lb Cu. Mill production figures have
not been reconciled and are subject to adjustment with concentrate
sales. Calculated figures may not add up due to
rounding.
"We are pleased with our second quarter production results, our
silver equivalent production increased by 6%, because our copper
production increased by 31%." said David
Wolfin, President and CEO. "We will continue to process
historic stockpile material through Mill Circuit 4 until the end of
the year, and then we anticipate transitioning to processing
newly-mined mill feed from the San Luis area of the Avino
Mine."
Production Tables for Second Quarter, 2018
Comparative production results from the second quarter, 2018 and
the second quarter, 2017 are presented below:
|
Q2
2018
|
Q2
2017
|
%
Change
|
Total Silver Eq.
Produced (oz) calculated*
|
738,853
|
698,174
|
6%
|
Total Gold Produced
(oz) calculated
|
1,734
|
1,954
|
-11%
|
Total Silver Produced
(oz) calculated
|
323,014
|
386,002
|
-16%
|
Total Copper Produced
(Lbs) calculated
|
1,480,830
|
1,133,161
|
31%
|
Production Table for Second Quarter, 2018
Production by
mine
|
Tonnes
Processed
|
Conc.
Tonnes
Produced
|
Grade
Ag
(g/t)
|
Grade
Au
(g/t)
|
Grade
Cu
(%)
|
Recovery
Ag
(%)
|
Recovery
Au
(%)
|
Recovery
Cu
(%)
|
Silver
(Oz)
|
Gold
(Oz)
|
Copper
(Lbs)
|
AgEq
|
Avino
|
119,839
|
2,743
|
53
|
0.36
|
0.61
|
86
|
73
|
90
|
177,101
|
1,020
|
1,441,012
|
529,247
|
San
Gonzalo
|
19,824
|
679
|
224
|
1.01
|
N/A
|
74
|
73
|
N/A
|
105,970
|
471
|
N/A
|
143,124
|
Historic above
ground
stockpiles
|
45,063
|
363
|
47
|
0.30
|
0.14
|
58
|
86
|
28
|
39,943
|
243
|
39,818
|
66,482
|
Consolidated
|
184,726
|
3,785
|
70
|
0.42
|
0.45
|
81
|
75
|
90
|
323,014
|
1,734
|
1,480,830
|
738,853
|
|
*For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.53 oz Ag, $1,307 oz Au
and $3.12 Lb Cu. Mill production figures have not been
reconciled and are subject to adjustment with concentrate
sales.
Calculated figures may not add up due to rounding.
|
Avino Mine Second Quarter, 2018 Production Results
Comparative figures for the second quarter, 2018 and the second
quarter, 2017 for the Avino Mine are as follows; production figures
for the second quarter, 2018 include production from Mill Circuit 2
and Mill Circuit 3:
|
Q2
2018
|
Q2
2017
|
Quarterly
Change
%
|
Total Mill Feed (dry
tonnes)
|
119,839
|
117,386
|
2%
|
Feed Grade Silver
(g/t)
|
53
|
76
|
-30%
|
Feed Grade Gold
(g/t)
|
0.36
|
0.53
|
-32%
|
Feed Grade Copper
(%)
|
0.61
|
0.49
|
24%
|
Recovery Silver
(%)
|
86%
|
84%
|
2%
|
Recovery Gold
(%)
|
73%
|
69%
|
6%
|
Recovery Copper
(%)
|
90%
|
89%
|
1%
|
Total Silver Produced
(kg)
|
5,508
|
7,517
|
-27%
|
Total Gold Produced
(g)
|
31,741
|
43,037
|
-26%
|
Total Copper Produced
(Kg)
|
653,633
|
513,994
|
27%
|
Total Silver
Equivalent Produced (oz) calculated*
|
529,247
|
512,237
|
3%
|
|
*For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.53 oz Ag, $1,307 oz Au and $3.12 Lb
Cu. Mill production figures have not been reconciled and are
subject to adjustment with concentrate sales. Calculated
figures may not
add up due to rounding.
|
At the Avino mine, underground advancement totaled 844 metres
and 102,512 tonnes of material were broken. Haulage of mill feed
totalled 123,478 tonnes.
Mining took place at levels 16 and 16.5 where the copper grades
were higher and the silver and gold grades were lower due to
variability in the mineralization within the deposit.
San Gonzalo Mine Second Quarter, 2018 Production
Highlights
Comparative figures for the second quarter, 2018 and the second
quarter, 2017 for the San Gonzalo mine are as follows:
|
Q2
2018
|
Q2
2017
|
Quarterly
Change
%
|
Total Mill Feed (dry
tonnes)
|
19,824
|
20,107
|
-1%
|
Feed Grade Silver
(g/t)
|
224
|
277
|
-19%
|
Feed Grade Gold
(g/t)
|
1.01
|
1.19
|
-15%
|
Recovery Silver
(%)
|
74%
|
81%
|
-8%
|
Recovery Gold
(%)
|
73%
|
74%
|
-1%
|
Total Silver Produced
(kg)
|
3,296
|
4,489
|
-27%
|
Total Gold Produced
(g)
|
14,642
|
17,724
|
-17%
|
Total Silver
Equivalent Produced (oz) calculated*
|
143,124
|
185,937
|
-23%
|
|
*For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.53 oz Ag, $1,307 oz Au and $3.12 Lb
Cu. Mill production figures have not been reconciled and are
subject to adjustment with concentrate sales. Calculated
figures may not
add up due to rounding.
|
The silver grade at San Gonzalo for Q2, 2018 decreased by 19%,
and the gold grade decreased by 15% compared to Q2, 2017, due to
lower grades of the areas being mined during the quarter. Mill feed
came from Levels 3-020, 4-020, 5-010, 6-020 and 6.5-100. Silver and
gold recoveries were also lower because of a change in
mineralization within the material from stope 020 at different
levels. The additional recoveries of silver and gold from the zinc
circuit did not result in additional overall improvement. Samples
of these materials have been sent for mineralogy test work.
Tonnage broken for the quarter was 14,178 tonnes and underground
development totalled 777 metres. Plant availability for the second
quarter 2018 was 95%, and there were no shut downs other than
normal scheduled maintenance.
Mill Circuit 4 – Historic Above Ground Stockpiles
Following the installation of the milling, flotation and
thickening components, Mill Circuit 4's 1,000 tonne per day ball
mill, turned over in February 2018
for its initial test. The charged ball mill start-up went very well
with only minor issues with the lube system which were resolved
quickly. Commissioning of the complete circuit resumed in
May 2018, with the introduction of
mill feed, followed by testing of the classification, flotation,
thickening and filtering components.
During the startup, testing and commissioning phase, which is
expected to last through the end of 2018, feed to Mill Circuit 4
will come from historic above-ground Avino Mine stockpiles. Once
development is complete, Mill Circuit 4 will transition to
processing newly-mined mill feed from the San Luis area of the
Avino Mine.
Output from Mill Circuit 4 during the second quarter of 2018
is as follows:
|
Q2
2018
|
Total Mill Feed (dry
tonnes)
|
45,063
|
Feed Grade Silver
(g/t)
|
47
|
Feed Grade Gold
(g/t)
|
0.30
|
Recovery Silver
(%)
|
58%
|
Recovery Gold
(%)
|
56%
|
Total Silver Produced
(kg)
|
1,242
|
Total Gold Produced
(g)
|
7,588
|
Total Silver
Equivalent Produced (oz) calculated*
|
66,482
|
|
*For comparison
purposes, the silver equivalent ratio has been calculated using
metal prices of $16.53 oz Ag, $1,307 oz Au and $3.12 Lb
Cu. Mill production figures have not been reconciled and are
subject to adjustment with concentrate sales. Calculated
figures may not
add up due to rounding.
|
Avino Mine Expansion (San Luis Area)
The San Luis area of the Avino Vein is accessed through a
separate portal located approximately 2 km from the main
entrance of the Avino Mine (Elena
Tolosa area). Current resources at San Luis were included in
the most recent resource estimate on the Avino property, which can
be found in Avino's news release dated February 21, 2018, on Avino's website and under
the company's profile on the SEDAR system. The news release was
also filed with the SEC on Form 6-K.
Work at San Luis is currently focused on restoration of the main
haulage ramp, which was near completion at the end of the second
quarter 2018. When the haulage ramp is complete, plans are to begin
development and drifting on levels 6 and 6.5, followed by levels 7,
7.5, 8, 8.5 and 9. Most of these areas were partially developed
during the 1980's and 90's prior to the mine's closure.
Zinc Circuit
The Company continued its testing program for recovery of
precious metals and zinc from the San Gonzalo tailings. In Q2,
2018, the Company produced 199 dry tonnes of low grade zinc
concentrate with content of 1,094 g/t silver, 6.31 g/t gold and
7.65% zinc, for an additional 13,032 AgEq ounces. As this product
has been marketed and sold, the testing program will continue.
Quality Assurance/Quality Control
Mill assays are performed at the Avino property's on-site lab.
Check samples are sent to SGS Labs in Durango, Mexico for verification. All
concentrate shipments are assayed by one of the following
independent third party labs: AHK, and Inspectorate in the UK
and LSI in the Netherlands.
Qualified Person(s)
Avino's Mexican projects are under the supervision of
Jasman Yee P.Eng, Avino director,
who is a qualified person within the context of National Instrument
43-101. He has reviewed and approved the technical data in this
news release.
About Avino
Avino is a silver and gold producer with a diversified pipeline
of gold, silver and base metals properties in Mexico and Canada employing close to 600 people. Avino
produces from its wholly owned Avino and San Gonzalo Mines near
Durango, Mexico, and is currently
planning for future production at the Bralorne Gold Mine in
British Columbia, Canada. The
Company's gold and silver production remains unhedged. The
Company's mission and strategy is to create shareholder value
through its focus on profitable organic growth at the historic
Avino Property near Durango,
Mexico, and the strategic acquisition of mineral exploration
and mining properties. Avino is committed to managing all business
activities in an environmentally responsible and cost-effective
manner, while contributing to the well-being of the communities in
which we operate.
ON BEHALF OF THE BOARD
"David Wolfin"
David
Wolfin
President & Chief Executive
Officer
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 the updated mineral
resource estimate for the Company's Avino Property located near
Durango in west-central Mexico
(the "Property") with an effective date of January 31, 2018 prepared for the Company, and
reference to Measured, Indicated, Inferred Resources referred to in
this press release. 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. No assurance can be given that the Company's Property
does not have the amount of the mineral resources indicated in the
updated report or that such mineral resources may be economically
extracted.
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 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.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
View original
content:http://www.prnewswire.com/news-releases/avino-announces-q2-2018-production-results-300683313.html
SOURCE Avino Silver & Gold
Mines Ltd.