Production Results At Avino Property

VANCOUVER - Avino Silver & Gold Mines Ltd. reported 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; and 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. 

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; and 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 the change in 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, we're 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.”