Mr. David Wolfin reports
AVINO ANNOUNCES FOURTH QUARTER AND FULL YEAR 2017 PRODUCTION RESULTS FROM ITS AVINO PROPERTY
Avino Silver & GoldMines Ltd. has released its fourth quarter 2017 and full year 2017 production results from its Avino property near Durango, Mexico.
Consolidated production highlights for 2017 (compared with 2016):
Silver equivalent production increased 1 per cent to 2,700,585 ounces. Silver production decreased 14 per cent to 1,394,203 oz.Gold production increased 11 per cent to 7,935 oz.Copper production increased 4 per cent to 4,373,166 pounds.
Consolidated production highlights for fourth quarter 2017 (compared with fourth quarter 2016):
Silver equivalent production decreased 10 per cent to 637,012 oz. Silver production decreased 24 per cent to 319,678 oz.Gold production decreased 43 per cent to 1,472 oz.Copper production increased 47 per cent to 1,108,800 lb.
In 2017, AgEq was calculated using metals prices of $17.05/oz Ag, $1,258/oz Au and $2.80/lb Cu. In 2016, AgEq was calculated using $17.10/oz Ag, $1,248/oz Au and $2.21/lb Cu.
"We are very pleased to have achieved another year of consistent production which was in line with our 2017 internal projections. Although there were a few challenges throughout the year, our operations teams were successful in resolving issues that arose.At the Avino mine, the expansion is now 90 per cent complete and we are looking forward to increasing throughput capacity within months.Two thousand eighteen will be a busy year for Avino, which is also our 50th anniversary, and within the coming weeks we expect to release drill results, 2017 in review, outlook for 2018 and an updated NI 43-101 mineral resource from the Avino mine.I would like to thank the teams in Mexico and Canada for their dedicated efforts," said David Wolfin, president, chief executive officer and director, Avino Silver & Gold Mines.
Consolidated 2017 production highlights
Comparative production numbers from 2017 and 2016 are presented in the table.
2017 2016Total silver produced (oz) calculated1,394,2031,612,060 Total gold produced (oz) calculated7,9357,119 Total copper produced (lbs) calculated 4,373,1664,206,585Total silver eq. produced (oz) calculated2,700,5852,679,334
Consolidated fourth quarter 2017 production highlights
Comparative production numbers from the fourth quarters of 2017 and 2016 are presented in the table.
Q4 2017 Q4 2016Total silver produced (oz) calculated 319,678 419,355 Total gold produced (oz) calculated 1,472 2,581Total copper produced (lbs) calculated1,108,800 755,645Total silver eq. produced (oz) calculated 637,012 707,775
Avino mine production highlights
Comparative figures for the years ended Dec. 31, 2017, and Dec. 31, 2016, as well as the fourth quarter 2017 and the fourth quarter of 2016 for the Avino mine are as shown in the table.
AVINO MINE Q4 2017Q4 2016 2017 2016Tonnes mined 111,040103,266462,279450,281Underground development (m)6487562,8984,005Mill availability (%) 90.3 95.6 95.5 94.0Total mill feed (dry tonnes) 109,088101,157460,890429,289Feed grade silver (g/t) 50 65 64 67Feed grade gold (g/t)0.322 0.690.516 0.42Feed grade copper (%)0.523 0.370.484 0.50Recovery silver (%)87%85%85%85%Recovery gold (%)69%69%69%64%Recovery copper (%)88%91%89%90%Copper concentrate (dry tonnes)2,2812,0949,7829,390Copper concentrate grade silver (kg/t)2.09 2.67 2.56 2.62Copper concentrate grade gold (g/t)10.5922.8716.7212.23Copper concentrate grade copper (%)22.0516.3720.2820.32Total silver produced (kg) 4,7565,584 24,990 24,552Total gold produced (g) 24,161 47,891163,582114,812Total copper produced (kg) 502,944342,7551,983,6371,908,077Total silver produced (oz) calculated152,908179,536803,438789,372Total gold produced (oz) calculated7771,5405,2593,691Total copper produced (lb) calculated1,108,800755,6454,373,1664,206,585Total silver equivalent produced (oz) calculated 417,182394,1491,911,4281,606,272
Avino mine fourth quarter 2017 production highlights:
Tonnage mined increased by 8 per cent, whereas the underground development decreased by 14 per cent as the company transitions to production mining on the levels that have already been developed to provide mill feed on a sustained basis. Mill availability was down 6 per cent for the quarter due to the downtime associated with the commissioning of the new HP5 crusher in October.There was insufficient crushed mill feed for the Avino circuit.This has been rectified with the technical assistance from Metso, which is the supplier of the crusher.Tonnage processed increased by 8 per cent as circuit 2 was dedicated to processing Avino material rather than the San Gonzalo for the entire quarter. Feed material for the quarter primarily came from the main Avino vein, resulting in higher copper, and lower gold and silver, and therefore reflective of the changes of 41 per cent, minus 53 per cent and minus 23 per cent, respectively.With the change in feed and minerology, copper recovery was down 3 per cent, no change in gold recovery and silver recovery increased by 2 per cent.The changes in the quality of the mill feed resulted in 9 per cent more concentrate produced and the grade of copper increased by 35 per cent, whereas the gold and silver grades decreased by 54 per cent and 22 per cent respectively.In addition, copper production increased by 47 per cent, gold decreased by 50 per cent and silver decreased by 15 per cent, resulting in an increase of 6 per cent in silver equivalent ounces for the quarter.
Avino mine 2017 year-end production highlights:
The year-over-year change in mined tonnes and development is attributed primarily to the transition from development to production mining.Tonnage processed increased by 7 per cent as circuit 2 was used exclusively to process Avino material.Gold feed grade increased by 23 per cent whereas copper and silver decreased by 3 per cent and 4 per cent, respectively; the changes in grades are due to the mineralization in the areas being mined.Concentrate production increased by 4 per cent with little to no change in the copper and silver grades but the gold increased by 37 per cent due to the higher mill feed. Gold production increased by 42 per cent, copper by 4 per cent and silver by 2 per cent resulting in 19 per cent more silver equivalent ounces of production.
San Gonzalo mine production highlights
Comparative figures for the years ended Dec. 31, 2017, and Dec. 31, 2016, as well as the fourth quarter 2017 and the fourth quarter of 2016 for the San Gonzalo mine are as shown in the table.
SAN GONZALO Q4 2017Q4 2016 2017 2016Tonnes mined17,640 29,678 80,587108,943Underground advancement (m)7121,0623,3794,433Mill availability (%) 95.3 94.1 95.4 94.4Total mill feed (dry tonnes)20,467 33,511 81,045115,047Feed grade silver (g/t)290262269267Feed grade gold (g/t) 1.36 1.16 1.32 1.25Recovery silver (%)87%85%84%83%Recovery gold (%)77%83%78%74%Bulk concentrate (dry tonnes)8911,1303,1674,115Bulk concentrate grade silver (kg/t)5.82 6.60 5.80 6.22Bulk concentrate grade gold (g/t)24.26 28.626.2725.90Total silver produced (kg) 5,1877,459 18,375 25,588Total gold produced (g) 21,612 32,379 83,215106,599Total silver produced (oz) calculated166,770239,819590,765822,689Total gold produced (oz) calculated6951,0412,6753,427Total silver equivalent produced (oz) calculated 219,830313,626789,1571,073,062
San Gonzalo mine fourth quarter 2017 production highlights:
Tonnage mined and underground advancement decreased by 41 per cent and 33 per cent, respectively, as there were fewer blocks available for mining and development work.Tonnage processed decreased by 39 per cent as circuit 2 was used entirely for Avino material.The lower tonnage throughput resulted in 30 per cent fewer silver equivalent ounces produced and 21 per cent less concentrate tonnage. Silver and gold feed grades increased by 18 per cent and 11 per cent, respectively, and the recovery for silver was up 3 per cent whereas gold decreased by 7 per cent.As a result of the above factors the silver and gold production decreased by 30 per cent and 33 per cent, respectively.
San Gonzalo mine 2017 year-end production highlights:
Tonnage processed for the year decreased by 30 per cent as circuit 2 was used for processing Avino mine material, whereas in 2016, there were some months when this circuit was used for San Gonzalo material.Silver and gold feed grades increased slightly by 1 per cent and 6 per cent, respectively, as less marginal material was processed. The lower tonnage throughput resulted in 23 per cent lower concentrate tonnage. Silver and gold production decreased by 28 per cent and 22 per cent, respectively, resulting in an overall decrease of 26 per cent in silver equivalent ounces produced in 2017.
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 United Kingdom and LSI in the Netherlands.
Qualified person(s)
Avino's Mexican projects are under the supervision Jasman Yee, PEng, Avino director, who is a qualified person within the context of National Instrument 43-101, he has reviewed and approved the production data in this news release.
About Avino Silver & GoldMines Ltd.
Avino is a silver and gold producer with a diversified pipeline of gold, silver and base metals exploration 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 ramping up for future production at its Bralorne gold mine in British Columbia, Canada.Avino's silver and gold production remains unhedged.
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