The Prospector News

Avino Announces Q3 2019 Production Results

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Avino Announces Q3 2019 Production Results

 

 

 

 

 

Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM)  (GV6: FSE)  announces its third quarter 2019 production results from its Avino property near Durango, Mexico.

 

Consolidated Production Highlights for Q3, 2019 (Compared to Q3, 2018)

 

  • Silver equivalent production decreased by 19% to 570,220 oz*
  • Gold production decreased by 34% to 1,448 oz
  • Silver production decreased by 34% to 221,928 oz
  • Copper production increased by 39% to 1,381,924 lbs
*In Q3, 2019, AgEq was calculated using metals prices of $16.98 oz Ag, $1,472 oz Au and $2.63 lb Cu. In Q3, 2018, AgEq was calculated using metals prices of $15.00 oz Ag, $1,213 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.

 

The silver equivalent production in Q3, 2019 decreased by 19% compared to Q3, 2018. The decrease was due to the following reasons:

 

  • Decreasing consolidated silver and gold feed grades that were offset slightly by higher mill throughput, copper feed grades at Avino, and increased consolidated recoveries
  • Minor production interruptions as a result of delays due to heavy seasonal rain
  • Processing continued using the remaining stockpiles from past production and development activities at San Gonzalo, which is lower grade.

 

The expectations are for higher production in Q4 2019 as we change our feed mix to focus more on the Elena Tolosa area of the Avino Mine.

 

“Our Q3 2019 production results, while lower compared to the same period in 2018, were in line with our internal expectations and output remained similar to the first two quarters of 2019. This quarter’s increase in throughput and recoveries are very encouraging and are attributed to the hard work and efforts by our team in Mexico,” said David Wolfin, Avino’s President and CEO. “In addition, we are pleased with the progression of the Open Pit tailings storage work, specifically the installation of the geomembrane, which is almost complete. The newly commissioned tailings thickener has transitioned to full operation and has reduced the water content sent to the tailings facility while similarly increasing the amount of water recycled back to the processing plant. During the 4th quarter and into 2020, we are looking forward to advancing our processing plant optimization initiatives and transitioning to full mining production in the Elena Tolosa area of the Avino Mine.”

 

Consolidated Production Tables

 

 

Q3 2019
Production by Mine Tonnes
Processed
Silver
Oz
Gold
Oz
Copper
Lbs
AgEq
Avino 122,208 139,419 900 1,307,622 418,352
San Gonzalo 17,800 29,568 194 56,203
Historic Above Ground Stockpiles 62,656 52,941 354 74,302 95,665
Consolidated 202,664 221,928 1,448 1,381,924 570,220
YTD 2019
Production by Mine Tonnes
Processed
Silver
Oz
Gold
Oz
Copper
Lbs
AgEq
Avino 319,837 356,626 2,797 3,269,687 1,160,595
San Gonzalo 53,271 149,265 555 208,184
Historic Above Ground Stockpiles 228,116 232,116 1,528 311,052 419,623
Consolidated 601,224 738,007 4,880 3,580,739 1,788,402

 

*During the three and nine months ended September 30, 2019, the Company produced 15,784 and 19,454 AgEq oz, respectively, of zinc by-product concentrate which has been included in the “San Gonzalo” production category above.

 

 

Q3 2019
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 41 0.31 0.58 86% 73% 83%
San Gonzalo 56 0.41 80% 73%
Historic Above Ground Stockpiles 47 0.33 0.14 56% 54% 39%
Consolidated 44 0.33 0.33 76% 67% 68%
YTD 2019
Grade & Recovery by Mine Grade
Ag g/t
Grade
Au g/t
Grade
Cu %
Recovery
Ag %
Recovery
Au %
Recovery
Cu %
Avino 41 0.38 0.55 84% 71% 85%
San Gonzalo 122 0.46 69% 65%
Historic Above Ground Stockpiles 57 0.40 0.17 55% 53% 36%
Consolidated 54 0.40 0.39 72% 64% 64%

 

Avino Mine Production Highlights

 

 

  Q3

2019

Q3**

2018

Quarterly

Change

YTD

2019

Total Mill Feed (dry tonnes) 122,208 85,221 43% 319,837
Feed Grade Silver (g/t) 41 57 -28% 41
Feed Grade Gold (g/t) 0.31 0.54 -42% 0.38
Feed Grade Copper (%) 0.58 0.53 10% 0.55
Recovery Silver (%) 86% 83% 3% 84%
Recovery Gold (%) 73% 66% 10% 71%
Recovery Copper (%) 83% 88% -6% 85%
Total Silver Produced (oz) 139,419 130,320 7% 356,626
Total Gold Produced (oz) 900 982 -8% 2,797
Total Copper Produced (Lbs) 1,307,622 879,430 49% 3,269,687
Total Silver Equivalent Produced (oz)* 418,352 372,601 12% 1,160,595
*In Q3, 2019, AgEq was calculated using metals prices of $16.98 oz Ag, $1,472 oz Au and $2.63 lb Cu. In Q3, 2018, AgEq was calculated using metals prices of $15.00 oz Ag, $1,213 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.
 
**The figures for Q3 2018 include San Luis processed material that was not included in the previously released Q3 2018 production table however it was reflected in the consolidated figures.

 

Overall, silver equivalent production at Avino increased by 12% compared to Q3, 2018, as a result of increased copper and silver production during the quarter. Mill feed at Avino increased by 43%, which offset lower silver and gold grades of 28% and 42%, respectively. Copper grades increased by 10% compared to Q3, 2018. Silver and gold recoveries increased by 3% and 10% respectively.

 

San Gonzalo Production Highlights

 

 

  Q3

2019

Q3

2018

Quarterly

Change

YTD

2019

Total Mill Feed (dry tonnes) 17,800 19,691 -10% 53,271
Feed Grade Silver (g/t) 56 226 -75% 122
Feed Grade Gold (g/t) 0.41 1.15 -65% 0.46
Recovery Silver (%) 80% 78% 2% 69%
Recovery Gold (%) 73% 75% -3% 65%
Total Silver Produced (oz) 29,568 111,287 -73% 149,265
Total Gold Produced (oz) 194 549 -65% 555
Total Silver Equivalent Produced (oz)* 56,203 155,990 -64% 208,184
*In Q3, 2019, AgEq was calculated using metals prices of $16.98 oz Ag, $1,472 oz Au and $2.63 lb Cu. In Q3, 2018, AgEq was calculated using metals prices of $15.00 oz Ag, $1,213 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.
 
*During the three and nine months ended September 30, 2019, the Company produced 15,784 and 19,454 AgEq oz, respectively, of zinc by-product concentrate which has been included above.

 

At San Gonzalo, the Company continues to process stockpiles, which have exceeded our expectations, albeit with declining silver and gold grades, which is inline with internal expectations.

 

Historic Above Ground Stockpiles Production Highlights

 

 

  Q3

2019

Q3

2018

Quarterly

Change

YTD

2019

Total Mill Feed (dry tonnes) 62,656 88,733 -29% 228,116
Feed Grade Silver (g/t) 47 62 -25% 57
Feed Grade Gold (g/t) 0.33 0.45 -28% 0.40
Feed Grade Copper (%) 0.14 0.15 -9% 0.17
Recovery Silver (%) 56% 57% -1% 55%
Recovery Gold (%) 54% 52% 3% 53%
Recovery Copper (%) 39% 37% 5% 36%
Total Silver Produced (oz) 52,941 100,544 -47% 232,116
Total Gold Produced (oz) 354 673 -47% 1,528
Total Copper Produced (Lbs) 74,302 112,841 -34% 311,052
Total Silver Equivalent Produced (oz) calculated* 95,665 175,837 -46% 419,623
*In Q3, 2019, AgEq was calculated using metals prices of $16.98 oz Ag, $1,472 oz Au and $2.63 lb Cu. In Q3, 2018, AgEq was calculated using metals prices of $15.00 oz Ag, $1,213 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.

 

Due to the negligible cost of mining, the profit margin on this material is quite positive. We will continue to evaluate our feed and product mix to maximize profitability.

 

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 grade samples. 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)

 

Peter Latta, P.Eng, MBA, Senior Technical Advisor, Avino and Jasman Yee P.Eng, 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

 

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 350 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.

 

Posted October 16, 2019

Share this news article

MORE or "UNCATEGORIZED"


Talisker Closes $9.15 Million Private Placement

Talisker Resources Ltd. (TSX: TSK) (OTCQB: TSKFF) is pleased to a... READ MORE

August 11, 2022

GoGold Releases 2022 Q3 Financial Results

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to an... READ MORE

August 11, 2022

Bunker Hill Discovers High-Grade Silver Mineralization

HIGHLIGHTS New high-grade silver and lead vein system discovered ... READ MORE

August 11, 2022

Goliath Drills 59.1 Meters of Continuous Sulphide Mineralization Confirming a Mineralized Footprint of 5.25 Square Kilometers; System Remains Wide Open in All Directions

Drill Highlights: 100% of all holes completed to date on the Sure... READ MORE

August 11, 2022

Titan Reports Record Production from Empire State Mines on Q2 2022 Results

Titan Mining Corporation (TSX: TI) announces the results for the... READ MORE

August 11, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News