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Avino Announces Q3 2017 Production Results

by pmnationtalk on October 16, 2017443 Views

October 16, 2017

Avino Silver & Gold Mines Ltd. (NYSE-American: ASM; TSX.V: ASM; “Avino” or the “Company”)announces third quarter 2017 production results from its Avino property near Durango, Mexico.

Consolidated Production Highlights for Third Quarter 2017 (Compared to Third Quarter 2016)

  • Silver equivalent production increased by 17% to 760,756 oz*
  • Gold production increased by 47% to 2,673 oz
  • Silver production decreased by 10% to 368,456oz
  • Copper production increased by 6% to 1,106,305 lbs

* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $17.45 oz Ag, $1,316 oz Au and $2.99 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 to report a strong quarter and that we are on pace to reach our budgeted production targets for 2017.

Our expansion is on schedule and I’d like to thank our hard-working staff, both in Mexico and Canada, for their efforts.”

David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Consolidated Third Quarter 2017 Production Highlights

Comparative production results from the third quarter 2017 and the third quarter 2016 are presented below:

Q3
2017
Q3
2016
%
Change
Total Silver Eq. Produced (oz) calculated* 760,756 649,831 17%
Total Gold Produced (oz) calculated 2,673 1,813 47%
Total Silver Produced (oz) calculated 368,456 410,908 -10%
Total Copper Produced (Lbs) calculated 1,106,305 1,045,091 6%

* For comparison purposes, the silver equivalent ratio for Q3 2017 has been calculated using metal prices of $17.45 oz Ag, $1,316 oz Au and $2.99 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 Third Quarter 2017 Production Results

Comparative figures for the third quarter 2017 and the third quarter 2016 for the Avino Mine are as follows; production figures for the third quarter 2017 include production from Mill Circuit 2 and Mill Circuit 3:

Q3
2017
Q3
2016
Quarterly
Change
%
2017
YTD
Notes
Tonnes Mined 119,317 116,154 3% 351,239 1
Underground Advancement (m) 832 866 -4% 2,250 1
Mill Availability (%) 98 96 2% 97
Total Mill Feed (dry tonnes) 117,862 111,042 6% 351,802 2
Feed Grade Silver (g/t) 66 71 -6% 68 4
Feed Grade Gold (g/t) 0.70 0.47 49% 0.58 4,5,6
Feed Grade Copper (%) 0.48 0.48 0% 0.47 4
Recovery Silver (%) 85% 85% 0% 85% 5
Recovery Gold (%) 70% 58% 21% 69% 5,6
Recovery Copper (%) 88% 89% -1% 89% 5
Copper Concentrate (dry tonnes) 2,491 2,362 5% 7,501
Copper Concentrate Grade Silver (kg/t) 2.66 2.83 -6% 2.70 6
Copper Concentrate Grade Gold (g/t) 23.07 12.81 80% 18.59 6
Copper Concentrate Grade Copper (%) 20.15 20.07 0% 19.74 6
Total Silver Produced (kg) 6,634 6,681 -1% 20,234 3
Total Gold Produced (g) 57,448 30,250 90% 139,421 3
Total Copper Produced (Kg) 501,812 474,046 6% 1,480,692 3
Total Silver Produced (oz) calculated 213,282 214,785 -1% 650,530 3
Total Gold Produced (oz) calculated 1,847 973 90% 4,482 3
Total Copper Produced (Lbs) calculated 1,106,305 1,045,091 6% 3,264,363 3
Total Silver Equivalent Produced (oz) calculated* 542,846 396,397 37% 1,494,245 3

*For comparison purposes, the silver equivalent ratio for Q3 2017 has been calculated using metal prices of $17.45 oz Ag, $1,316 oz Au and $2.99 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.

Third Quarter 2017 Highlights

  1. Tonnage mined increased by 3% whereas underground development metres decreased by 4%. The increase in mined tonnage was due to a switch to slashing on the mineralized zones on levels 12 to 14 in favour of more development metres to facilitate easier access to mill feed.
  2. Processed tonnage increased as Circuit #2 was used exclusively for treating Avino material during Q3 2017, which resulted in tonnage processed increasing by 6%.
  3. Gold and copper production increased by 90% and 6% respectively, while silver production decreased slightly by 1%. The net result was an increase of 37% in silver equivalent production.
  4. There was no change in the copper feed grade while the gold feed grade increased by 49% and the silver feed grade decreased by 6%.
  5. Gold recovery increased by 21% due to higher gold feed grade. There was no change to the silver recovery and copper recovery decreased slightly by 1%.
  6. The higher gold feed grade and higher recovery resulted in an increase of 80% in the gold grade of the copper concentrate. There was no change to the copper grade, while the silver grade decreased by 6%.

San Gonzalo Mine Third Quarter 2017 Production Highlights

Comparative figures for the third quarter 2017 and the third quarter 2016 for the San Gonzalo mine are as follows:

Q3
2017
Q3
2016
Quarterly
Change %
YTD 2017 Notes
Tonnes Mined 18,450 30,050 -39% 62,947 1
Underground Advancement (m) 747 1,089 -31% 2,667 1
Mill Availability (%) 97 94 3% 95
Total Mill Feed (dry tonnes) 20,338 26,989 -25% 60,579 2,4,5
Feed Grade Silver (g/t) 281 272 3% 262 3,4
Feed Grade Gold (g/t) 1.55 1.30 19% 1.31 3,4
Recovery Silver (%) 85% 83% 2% 83% 3
Recovery Gold (%) 82% 75% 9% 78% 3
Bulk Concentrate (dry tonnes) 851 923 -8% 2,276 5
Bulk Concentrate Grade Silver (kg/t) 5.67 6.61 -14% 5.79 5
Bulk Concentrate Grade Gold (g/t) 30.21 28.34 7% 27.06 5
Total Silver Produced (kg) 4,826 6,100 -21% 13,188 4
Total Gold Produced (g) 25,698 26,152 -2% 61,603 4
Total Silver Produced (oz) calculated 155,174 196,123 -21% 423,996 4
Total Gold Produced (oz) calculated 826 841 -2% 1,981 4
Total Silver Equivalent Produced (oz) calculated* 217,910 253,434 -14% 569,328 4

*For comparison purposes, the silver equivalent ratio for Q3 2017 has been calculated using metal prices of $17.45 oz Ag, $1,316 oz Au and $2.99 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.

Third Quarter 2017 Highlights

  1. Tonnage mined and underground advancement decreased by 39% and 31% respectively, compared with the corresponding quarter of the previous year. This was due to fewer targets for mine development and limited ramp access due to the ongoing exploration drilling program.
  2. Tonnage processed decreased by 25% as Circuit #2 was used exclusively for the treatment of Avino mine material.
  3. Silver and gold feed grades increased by 3% and 19% respectively, while the silver recovery improved by 2% and gold recovery by 9%.
  4. Silver and gold production decreased by 21% and2% respectively, resulting in 14% fewer silver equivalent ounces produced for the quarter. Higher feed grades and recoveries were not large enough to offset the impact of the lower tonnage processed.
  5. The lower tonnage processed also resulted in 8% fewer tons of concentrate. The silver grade in the concentrate decreased by 14% while the gold increased by 7%.

Zinc Circuit

Testing of this circuit continued during the quarter, and approximately 150 tonnes of low quality zinc concentrate was produced. The grade of this material was approximately 21% zinc, 1700g/t silver and 8.5g/t gold. Some of this product has been sold and, as long as there is a buyer, testing of this circuit will continue. The zinc circuit results are not included in the above production table for San Gonzalo.

Quality Assurance/Quality Control

Mill assays are performed at the Avino’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, Inspectorate in the UK, and LSI in the Netherlands.

Qualified Person(s)

Avino’s Mexican projects are under the supervision 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 approximately 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. 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. We are 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

NT4

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