Avino Announces Q2 2020 Production Results

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Algemeen advies 17/07/2020 14:32
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) reports that production of 158,286 silver equivalent ounces*, 50,581 silver ounces, 459,767 copper lbs, and 404 gold ounces was achieved in the second quarter 2020 from its Avino Mine property near Durango, Mexico.

As a result of the temporary shutdown due to Covid-19, all production results were lower than anticipated compared to Q2 2019.

Mining operations were temporarily suspended at the beginning of April as mandated by the Mexican government and the Avino Mine transitioned to care and maintenance utilizing a reduced workforce to protect employees, contractors, and the local communities.

On June 1, 2020, Avino was approved by the Secretariat of Health to recommence regular mining activities in an orderly, gradual and cautious manner.

2020 Second Quarter Highlights
•Increase in recovery rates and grades at the Avino Mine: On a metal-by-metal basis, recovery rates were higher and the grades rose slightly
•Avino Mine Avino Mine Successfully Recommenced Operations: The ramp-up began June 1st, working towards achieving production levels experienced prior to March 31, 2020

“We are encouraged by the higher recoveries achieved in the second quarter, and the progress made in the ramp-up to full production which was underway once mining operations were allowed to resume in early June”, said David Wolfin, President and CEO. “In addition, I am pleased to report that despite the challenges related to the Covid-19 pandemic, the Company’s combined operational and health and safety measures enabled us to continue with concentrate shipments from established stockpiles of material and, because of our established Crisis Management Plan, we had a well-executed response for stringent Covid-19 transmission prevention. Finally, due to the disappointing strike action at site last week, we reiterate that the Company remains receptive to having good-faith discussions with authorized representatives of the union.”

During Q2 2020 production came from the Avino mine only.

Avino Production Highlights for Q2 2020 (Compared to Q2 2019)
•Silver equivalent production decreased by 56% to 158,286 oz*
•Copper production decreased by 54% to 459,767 lbs
•Silver production decreased by 52% to 50,581 oz
•Gold production decreased by 50% to 404 oz

* In Q2, 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. In Q2, 2019, AgEq was calculated using metals prices of $14.88 oz Ag, $1,309 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.

Management expects to update shareholders on plans for the second half of 2020 when it reports the Q2, 2020 financial results in August.

The recoveries and grades at the Avino mine were marginally higher in Q2 2020 compared to Q2 2019.

Consolidated Production Tables

Q2 2020
Production by Mine Tonnes Processed Silver
Oz Gold Oz Copper Lbs AgEq
Avino 40,190 50,581 404 459,767 158,286

Historic Above Ground Stockpiles - - - - -
Consolidated 40,190 50,581 404 459,767 158,286
YTD 2020
Production by Mine Tonnes Processed Silver
Oz Gold Oz Copper Lbs AgEq
Avino 199,575 312,819 1,916 2,263,082 835,370
Historic Above Ground Stockpiles 4,711 4,481 19 4,857 6,860
Consolidated 204,286 317,299 1,935 2,267,939 842,230


Q2 2020
Grade & Recovery by Mine Grade
Ag g/t Grade Au g/t Grade Cu % Recovery Ag % Recovery Au % Recovery Cu %
Avino 43 0.40 0.58 90% 79% 90%
Historic Above Ground Stockpiles - - - - - -
Consolidated 43 0.40 0.58 90% 79% 90%
YTD 2020
Grade & Recovery by Mine Grade
Ag g/t Grade Au g/t Grade Cu % Recovery Ag % Recovery Au % Recovery Cu %
Avino 54 0.40 0.58 90% 75% 88%
Historic Above Ground Stockpiles 59 0.31 0.15 50% 41% 31%
Consolidated 54 0.40 0.57 89% 74% 87%

Avino Mine Production Highlights


Q2
2020 Q2 2019 Quarterly Change YTD 2020
Total Mill Feed (dry tonnes) 40,190 96,707 -58% 199,575
Feed Grade Silver (g/t) 43 41 4% 54
Feed Grade Gold (g/t) 0.40 0.38 6% 0.40
Feed Grade Copper (%) 0.58 0.56 4% 0.58
Recovery Silver (%) 90% 81% 11% 90%
Recovery Gold (%) 79% 69% 15% 75%
Recovery Copper (%) 90% 84% 6% 88%
Total Silver Produced (oz) 50,581 104,893 -52% 312,819
Total Gold Produced (oz) 404 800 -50% 1,916
Total Copper Produced (Lbs) 459,767 1,003,995 -54% 2,263,082
Total Silver Equivalent Produced (oz)* 158,286 362,445 -56% 835,370


* In Q2, 2020, AgEq was calculated using metals prices of $16.38 oz Ag, $1,707 oz Au and $2.45 lb Cu. In Q2, 2019, AgEq was calculated using metals prices of $14.88 oz Ag, $1,309 oz Au and $2.77 lb Cu. Calculated figures may not add up due to rounding.

Mine Update

Further to the company’s press release dated July 10, 2020, good-faith negotiations with representatives of the authorized union are ongoing and an update will be provided when further information is available.

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 UK and LSI in the Netherlands.

Qualified Person(s)

Peter Latta, P.Eng, MBA, VP 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




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