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Avino Q1 2014 Production Up 60% Over
Q1 2013 to 312,000 Oz Silver
Equivalent
Avino Silver and Gold Mines Ltd. (ASM:
TSX.V, ASM: NYSE - MKT; "Avino" or
"the Company") is
pleased to report its Q1 2014
production results from its Avino
property, located 80km northeast of
Durango, Mexico.
Production Highlights for First
Quarter, 2014 (Compared to First
Quarter, 2013)
-
Silver production increased 46%
to 232,401 oz
-
Gold production increased 122%
to 1,274 oz
-
Silver equivalent production
increased 60% to 312,000*
* For the sake of comparison, a
silver equivalent of 62.5 has been
used. 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 our 5th
consecutive quarter of production
growth. Our progress is a testament
to the talents and hard work of our
staff, consultants, directors and
management in Canada, the US and
Mexico".
- David Wolfin, President, CEO &
Director, Avino Silver & Gold
Mines Ltd.
Consolidated 1st Quarter 2014
Production Highlights
Comparative production numbers from
Q1 2014 and Q1 2013 are presented
below:
|
|
Q1 2014 |
Q1 2013 |
% Change |
|
Total Silver Produced
(oz) calculated |
232,401 |
159,582 |
46 |
|
Total Gold Produced (oz) calculated |
1,273 |
574 |
122 |
|
Total Silver Eq.
Produced (oz) calculated |
312,000 |
195,457 |
60 |
* For the
sake of comparison, a silver
equivalent of 62.5 has been used.
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.
Q1 San Gonzalo Production Highlights
Comparative figures for Q1 2014 and
Q1 2013 are presented below as well
as 2014 yearly totals.
|
|
Q1
2014 |
Q1
2013 |
Quarterly
Change % |
2014
Totals |
|
Total Mill Feed (dry
tonnes) |
19,784 |
19,723 |
0 |
19,784 |
|
Average Daily Throughput
(tpd) |
230 |
229 |
0 |
230 |
|
Days of Operation |
86 |
86 |
0 |
86 |
|
Feed Grade Silver (g/t) |
355 |
309 |
15 |
355 |
|
Feed Grade Gold (g/t) |
2.02 |
1.29 |
57 |
2.02 |
|
Bulk Concentrate (dry
tonnes) |
652 |
568 |
15 |
652 |
|
Bulk Concentrate Grade
Silver (kg/t) |
9.02 |
8.72 |
3 |
9.02 |
|
Bulk Concentrate Grade
Gold (g/t) |
46.7 |
31.4 |
49 |
46.7 |
|
Recovery Silver (%) |
84 |
81 |
4 |
84 |
|
Recovery Gold (%) |
76 |
70 |
9 |
76 |
|
Mill Availability (%) |
98 |
95.5 |
3 |
98 |
|
Total Silver Produced
(kg) |
5,883 |
4,960 |
19 |
5,883 |
|
Total Gold Produced (g) |
30,441 |
17,875 |
70 |
30,441 |
|
Total Silver Produced
(oz) calculated |
189,138 |
159,582 |
19 |
189,138 |
|
Total Gold Produced (oz) calculated |
979 |
574 |
70 |
978 |
|
Total Silver Equivalent
Produced (oz) calculated |
250,308 |
195,457 |
28 |
250,308 |
* For the
sake of comparison, a silver
equivalent of 62.5 has been used.
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.
Q1 2014 Highlights
-
Gold and silver production in Q1
2014 increased by 70% and 19%
respectively compared with Q1
2013
-
The increased production was due
to higher feed grades and better
recoveries from levels 4 and 5.
-
Concentrate grades were also
higher due to the higher feed
grades processed.
Q1 Avino Mine Stockpile (Circuit 2)
Highlights*
Comparative Production numbers from
Q1 2014 and Q4 2013 at Circuit 2, as
well as 2014 annual totals are
reported as follows:
|
|
Q1
2014 |
Q4
2013 |
% Change |
2014
Totals |
|
Total mill feed -- (dry
tonnes) |
19,783 |
19,576 |
1 |
19,783 |
|
Days of Operation |
86 |
86 |
0 |
86 |
|
Feed grade Silver - g/t |
100 |
92 |
9 |
100 |
|
Feed grade Gold - g/t |
0.74 |
0.94 |
(21) |
0.74 |
|
Bulk concentrate -- (dry
tonnes) |
198 |
226 |
(12) |
198 |
|
Bulk Concentrate Grade
Silver (kg/t) |
6.78 |
5.13 |
32 |
6.78 |
|
Bulk Concentrate Grade
Gold (g/t) |
46.23 |
43.8 |
6 |
46.23 |
|
Recovery Silver (%) |
68 |
64 |
6 |
68 |
|
Recovery Gold (%) |
63 |
54 |
17 |
63 |
|
Mill availability (%) |
96.4 |
93.3 |
3 |
96.4 |
|
Total Silver Produced
(oz) calculated |
43,263 |
37,244 |
16 |
43,263 |
|
Total Gold Produced
(oz) calculated |
295 |
318 |
(7) |
295 |
|
Total Silver Eq.
Produced (oz) calculated |
61,692 |
57,119 |
8 |
61,692 |
* For the
sake of comparison, a silver
equivalent of 62.5 has been used.
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.
*Since circuit 2 was not operational
during Q1 2013 no comparative data
is available. For analytical
purposes comparative data from Q4
2013 has been provided.
Q1 2014 Highlights
-
Silver production increased in
Q1 2014 compared to Q4 2013 by
16%. The increased production
was due to a 9% higher feed
grade and a 6% improvement in
recoveries.
-
Gold production decreased by 7%
due to lower feed grades despite
the 17% improvement in
recoveries.
-
The grade of concentrate was
better in Q1 and resulted in
fewer tonnes produced.
Quarterly Reporting
Having achieved a full year of
production, Avino now has comparable
quarterly reports with which to
gauge our progress. Going forward
Avino plans to report production
quarterly rather than monthly to
adhere to industry norms.
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
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.
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