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Avino Silver & Gold Mines Ltd
Symbol C : ASM
Shares Issued 64,172,958
Close 2019-04-12 C$ 0.74
Recent Sedar Documents

Avino Silver produces 615,019 oz AgEq in Q1

2019-04-15 08:11 ET - News Release

Mr. David Wolfin reports

AVINO ANNOUNCES Q1 2019 PRODUCTION RESULTS

Avino Silver & Gold Mines Ltd. has provided its first quarter 2019 production results from its Avino property near Durango, Mexico.

The silver equivalent production in Q1 2019 decreased by 6 per cent compared with Q1 2018, primarily due to a shutdown of mill for a period of seven days during the quarter to facilitate planned upgrades to the crushing circuit.

Consolidated production highlights for Q1 2019 (compared with Q1 2018)

  • Silver equivalent production decreased by 6 per cent to 615,019 ounces;*
  • Gold production decreased by 6 per cent to 1,813 oz;
  • Silver production decreased by 13 per cent to 268,399 oz;
  • Copper production increased by 10 per cent to 1,062,702 lb.

* In Q1 2019, AgEq was calculated using metals prices of $15.57 oz Ag, $1304.40 oz Au and $2.82 lb Cu. In Q1 2018, AgEq was calculated using metals prices of $16.77 oz Ag, $1,330 oz Au and $3.16 lb Cu.

"The production results this quarter are reflective of the lower grades achieved, coupled with seven days of lost production while upgrades to the crusher were being completed at the mill. The upgrades were significant to the overall operation as they will enable us to realize more consistent throughput from the crusher during the rainy season in Mexico," said David Wolfin, president and chief executive officer. "We continue to focus on profitable ounces and a considered approach to keeping costs controlled company-wide, particularly as we are experiencing lower metal prices."

                              CONSOLIDATED PRODUCTION TABLES
                                        Q1 2019

Production by mine               Tonnes processed   Silver oz   Gold oz   Copper lb     AgEq

Avino                                     100,922     112,315     1,097     958,071   379,798
San Gonzalo                                17,901      70,759       187           -    86,406
Historic aboveground stockpiles            78,864      85,325       529     104,631   148,815
Consolidated                              197,687     268,399     1,813   1,062,702   615,019
Q1 2019

                                   Grade    Grade   Grade   Recovery   Recovery   Recovery
Grade and recovery by mine        Ag g/t   Au g/t    Cu %       Ag %       Au %       Cu %

Avino                                 41     0.48    0.49        84%        71%        87%           
San Gonzalo                          188     0.54       -        65%        61%          -             
Historic aboveground stockpiles       61     0.40    0.21        55%        52%        29%           
Consolidated                          62     0.45    0.37        71%        62%        62%           
                                                                                                                                


  

The mill circuit configuration in Q1 2019 was the same as Q4 2018 where mill circuit 1 processed material from San Gonzalo, mill circuit 2 processed material from San Luis, mill circuit 3 processed material from Elena Tolosa and mill circuit 4 processed material from the AHAGs.

            AVINO MINE PRODUCTION HIGHLIGHTS
  
  
                                         Q1 2019   Q1 2018

Total mill feed (dry tonnes)             100,922   120,631
Feed grade silver (g/t)                       41        56
Feed grade gold (g/t)                       0.48      0.58
Feed grade copper (%)                       0.49      0.43
Recovery silver (%)                          84%       81%
Recovery gold (%)                            71%       68%
Recovery copper (%)                          87%       84%
Total silver produced (oz)               112,315   174,603
Total gold produced (oz)                   1,097     1,544
Total copper produced (lb)               958,071   970,165
Total silver equivalent produced (oz)*   379,798   480,315

* In Q1, 2019, AgEq was calculated using metals prices of 
  $15.57 oz Ag, $1,304.40 oz Au and $2.82 lb Cu. In Q1 
  2018, AgEq was calculated using metals prices of $16.77 
  oz Ag, $1,330 oz Au and $3.16 lb Cu.


  

Copper grades increased by 14 per cent, compared with Q1 2018, and silver and gold grades decreased 27 per cent and 18 per cent respectively. The change in grades is due to variability in the deposit.

           SAN GONZALO PRODUCTION HIGHLIGHTS

                                         Q1 2019   Q1 2018

Total mill feed (dry tonnes)              17,901    20,186
Feed grade silver (g/t)                      188       264
Feed grade gold (g/t)                       0.54      1.07
Recovery silver (%)                          65%       79%
Recovery gold (%)                            61%       75%
Total silver produced (oz)                70,759   135,079
Total gold produced (oz)                     187       521
Total silver equivalent produced (oz)*    86,406   176,384

* In Q1, 2019, AgEq was calculated using metals prices of 
  $15.57 oz Ag, $1,304.40 oz Au and $2.82 lb Cu. In Q1 
  2018, AgEq was calculated using metals prices of $16.77 
  oz Ag, $1,330 oz Au and $3.16 lb Cu.


  

At San Gonzalo, the mine is approaching its end of life and the grades, recoveries and production have started to tail off. This is in line with the company's internal expectations.

HISTORIC ABOVEGROUND STOCKPILES PRODUCTION HIGHLIGHTS
  
  
                                                    Q1 2019

Total mill feed (dry tonnes)                         78,864   
Feed grade silver (g/t)                                  61       
Feed grade gold (g/t)                                  0.40     
Feed grade copper (%)                                  0.21     
Recovery silver (%)                                     55%      
Recovery gold (%)                                       52%      
Recovery copper (%)                                     29%      
Total silver produced (oz)                           85,325   
Total gold produced (oz)                                529      
Total copper produced (lb)                          104,631  
Total silver equivalent produced (oz) calculated*   148,815  

* In Q1 2019, AgEq was calculated using metals prices of 
  $15.57 oz Ag, $1,304.4 oz Au and $2.82 lb Cu. In Q1 2018, 
  AgEq was calculated using metals prices of $16.77 oz Ag, 
  $1,330 oz Au and $3.16 lb Cu.


  

Although recovery numbers look less favourable, due to the negligible cost of mining, the profit margin on this material is quite positive. The company will continue to evaluate its feed and product mix to maximize profitability during the current metal price environment.

Quality assurance/quality control

Mill assays are performed at 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 United Kingdom, and LSI in the Netherlands.

Qualified person(s)

Peter Latta, PEng, MBA, senior technical adviser, Avino, and Jasman Yee, PEng, Avino director, both of whom are qualified persons within the context of National Instrument 43-101, have reviewed and approved the technical data in this news release.

About Avino Silver & Gold Mines Ltd.

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 500 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.

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