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Avino Silver & Gold Mines Ltd
Symbol ASM
Shares Issued 102,243,211
Close 2021-10-15 C$ 1.16
Recent Sedar Documents

Avino Silver produces 285,464 AgEq oz from Avino in Q3

2021-10-15 07:25 ET - News Release

Mr. David Wolfin reports

AVINO ANNOUNCES Q3 2021 PRODUCTION RESULTS

Production of 285,464 silver equivalent ounces,* consisting of 77,935 ounces of silver, 1,183 ounces of gold and 685,535 pounds of copper, was achieved in the third quarter 2021 from Avino Silver & Gold Mines Ltd.'s Avino mine property near Durango, Mexico.

"We are very pleased to announce our third quarter production results which followed a period of operational closure," said David Wolfin, president and chief executive officer of Avino. "The entire Avino team worked tremendously hard to assist in the resumption of operations in August, and successfully achieve production for the quarter. Moving forward, we aim to steadily increase production to reach the levels established prior to the closure. I am also thrilled that training programs are ongoing at the mine as we look to further build a local work force."

2021 third quarter highlights

  • Avino mine successfully recommenced operations: Underground mining operations are now hauling between 1,000 and 1,500 tonnes per day to surface on a daily basis, with the mill operating at a similar capacity. The company is working toward achieving preshutdown levels of mine and mill production. Current plant capacity remains at 2,500 tpd.
  • Increase in overall feed grades from the Avino mine: Silver, gold and copper grades increased by 16 per cent, 138 per cent and 18 per cent, respectively, compared with the last quarterly production period of Q2 2020.
  • Increase in copper recovery rates from the Avino mine: Copper recovery rose to 94 per cent from 90 per cent, and metal grades across the board were higher when compared with the last quarterly production period of Q2 2020.

During Q3 2021 production came primarily from the Avino mine. The company is currently mining and milling from the Avino mine only. As part of the ramp-up of operations 10,806 tonnes of historic aboveground stockpile material having been processed during Q3 2021. Production from this material totalled 15,784 silver equivalent ounces, consisting of 9,336 ounces of silver, 58 ounces of gold and 12,584 pounds of copper, and there was no comparable production from Q2 2020.

Avino production highlights for Q3 2021 (compared with Q2 2020 -- most recent quarter of production)

  • Silver equivalent production increased 70 per cent to 269,680 ounces.*
  • Copper production increased by 46 per cent to 672,951 pounds.
  • Silver production increased by 36 per cent to 68,599 ounces.
  • Gold production increased by 179 per cent to 1,125 oz.

* In Q3 2021, AgEq was calculated using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb Cu. In Q2 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. Calculated figures may not add up due to rounding.


                                   CONSOLIDATED PRODUCTION TABLES
                                              Q3 2021

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

Avino                                    47,452       68,599        1,125      672,951      269,680
Historic aboveground stockpiles          10,806        9,336           58       12,584       15,784
Consolidated                             58,258       77,935        1,183      685,535      285,464

                                   CONSOLIDATED PRODUCTION TABLES
                                             YTD 2021

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

Avino                                   50,985       72,102        1,171      727,994      285,157
Historic aboveground stockpiles         10,806        9,336           58       12,584       15,784
Consolidated                            61,791       81,438        1,229      740,578      300,941


  

  
                                                    Q3 2021

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

Avino                                      50         0.95         0.68          90%          77%          94%
Historic aboveground stockpiles            41         0.26         0.12          65%          63%          45%
Consolidated                               48         0.83         0.58          86%          75%          85%


                                                   YTD 2021

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

Avino                                      49         0.92         0.69          90%          78%          94%
Historic aboveground stockpiles            41         0.26         0.12          65%          63%          45%
Consolidated                               48         0.81         0.59          86%          75%          85%


  

                              AVINO MINE PRODUCTION HIGHLIGHTS (1)
   
                                                    Q3 2021            Q2 2020 (2)       YTD 2021

Total mill feed (dry tonnes)                         47,452             40,190             50,985
Feed grade silver (g/t)                                  50                 43                 49
Feed grade gold (g/t)                                  0.95               0.40               0.92
Feed grade copper (%)                                  0.68               0.58               0.69
Recovery silver (%)                                     90%                90%                90%
Recovery gold (%)                                       77%                79%                78%
Recovery copper (%)                                     94%                90%                94%
Total silver produced (oz)                           68,599             50,581             72,102
Total gold produced (oz)                              1,125                404              1,171
Total copper produced (lb)                          672,951            459,767            727,994
Total silver equivalent produced (oz) (3)           269,680            158,286            285,157

(1) Ten thousand eight hundred six tonnes of historic aboveground stockpiles were processed during 
    Q3 2021 as part of the ramp-up of operations. Production from this material totalled 15,784 
    silver equivalent ounces, consisting of 9,336 ounces of silver, 58 ounces of gold and 12,584 
    pounds of copper, and there was no comparable production from Q2 2020.

(2) Q2 2020 was the most recent quarter of consolidated production and is most appropriate for 
    comparison purposes.

(3) In Q3 2021, AgEq was calculated using metals prices of $24.36 oz Ag, $1,790 oz Au and $4.25 lb 
    Cu. In Q2 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 
    lb Cu. Calculated figures may not add up due to rounding.                                                                               


  

Exploration and operational update

Exploration

At the end of September, a total of 12,179 metres of drilling have been completed at the Avino property. The main areas for the third quarter of exploration include the oxide tailings, the area below current mining operations at Avino, as well as the highly prospective area of La Potosina.

Assay results are pending due to long turnaround times at the laboratories and will be released once received and interpreted.

Operations

The company has been training a local work force at the mine as it endeavours to support nearby towns and strengthen the collaboration between the surrounding communities and the company. As a major employer in the area, it is important that there is a steady group of trained mine workers available as the company ramps up production. The training programs are aimed at increasing inclusion and diversity, as well as fostering opportunities for both women and men. With this objective in mind, the company is pleased to have trained its first female scooptram operator.

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. Gold and silver assays are performed by the fire assay method with the gravimetric finish for the concentrates and the AAS methods for copper, lead, zinc and silver for the feed and tail grade samples. All concentrate shipments are assayed by one of the following independent third party labs: AHK, Inspectorate in the United Kingdom and LSI in the Netherlands.

Qualified person(s)

Peter Latta, PEng, MBA, vice-president of technical services, Avino, who is a qualified person within the context of National Instrument 43-101, has reviewed and approved the technical data in this news release.

About Avino Silver & Gold Mines Ltd.

Avino is primarily a silver producer from its wholly owned Avino mine near Durango, Mexico. The company's silver and gold production remains unhedged. The company's mission and strategy are to create shareholder value through organic growth at the historic Avino property and the strategic acquisition of mineral exploration and mining properties. The company is committed to managing all business activities in a safe, environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which it operates.

We seek Safe Harbor.

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