In This Article:
VANCOUVER, British Columbia, July 20, 2022 (GLOBE NEWSWIRE) -- Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) reported strong Q2 production results from its Avino Mine property in Mexico. Avino, primarily a silver producer from its 99.28% owned historic Avino Mine near Durango, Mexico, also maintains a diversified pipeline of gold, silver and base metals exploration properties.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments from David Wolfin, President and CEO of Avino. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Avino” in the search box.
Silver equivalent production for the 2nd quarter was 649,569 ounces, an increase of 42% over the 457,798 ounces reported in the 1st quarter of 2022. Silver production increased by 37% to 225,537 ounces, with gold production up 69% to 1,350 ounces, and copper production up 35% to 1,644,342 pounds.
Mill throughput for the quarter was up 6% over the previous quarter, coming in at 118,224 dry tonnes.
Over Avino's 54-year history the mine has operated for various periods of time and as such, generated different types of tailings, with 3 distinct zones of oxide tailings identified corresponding to the timeline of extraction from the previous historic operations. During the first half, the company continued its drill campaign on its Oxide Tailings Project.
Results released on April 7, 2022, and May 24, 2022, from a combined 127 holes, continued to highlight the potential to expand resources. With the upcoming metallurgical testwork, Avino is moving towards its goal of advancing this project to the next phase of development.
On June 13, 2022, Avino announced drill results from the Avino Elena Tolosa area below the current Level 17 mining area. These results confirmed the downdip continuity of widths and grades of the Avino vein extending significant potential to a depth of at least 290 metres down dip below current development. Avino is advancing geological modelling to determine the potential geometry and controls of the mineralization. A second drill has been added to this program to include a further 13 drill holes for 7,000 metres.
By the end of June, the company had released results from a total of 7,694 metres that had been drilled at a number of different areas on the Avino property, including Oxide Tailings Project. In line with its strategic plans to become an intermediate producer in Mexico, in May, Avino granted Endurance Gold an option to earn 100% ownership of the former Minto Gold Mine, Olympic and Kelvin gold prospects, located north of the Bralorne Mine in British Columbia.