Avino totals 137M ozsilver-equivalent at La Preciosa

On the similar cut-off grade, there are 4.4 million inferred tonnes with a mean grade of 151 g/t silver and 0.25 g/t gold for 21 million oz. contained silver and 35,000 oz. contained gold.

Avino is buying La Preciosa from Coeur Mining (NYSE: CDE) for a money whole of US$20 million. La Preciosa is a development-stage venture adjoining to Avino’s current operations on the Avino silver mine.

Coeur will retain a 1.25% internet smelter return royalty on the Gloria and Abundancia areas of the venture and a 2% gross worth royalty on all different areas. Coeur at the moment owns greater than 10% of Avino and has the fitting to appoint a director to Avino’s board.

In July 2014, Coeur ready a feasibility research for La Preciosa outlining a ten,000 t/d open pit operation that may produce 10.3 million oz. of silver and 12,000 oz. of gold over an 11-year life.

Avino mounted drilled over 12,000 metres on the Avino property through the first 9 months of the 12 months and has plans to finish 30,000 metes by the top of the present program. The corporate closed the mine for an prolonged interval in 2020 attributable to Covid-19 issues. Whereas manufacturing was interrupted, the corporate inspected underground, milling, and floor gear to make sure to make sure all are in working situation. Manufacturing resumed in August 2021.

The time was additionally used to plan and achieve group approval to create a dry-stack tailings space, which is to be operational within the first quarter of 2022. Mill information assortment and automation research have been initiated and make enhancements to mill circuit 4 to enhance gold and silver restoration. Two further load-haul-dumpers have been additionally bought for the mine.

The Avino mine has measured and indicated assets of 28 million tonnes grading 58 g/t silver and 0.54 g/t gold (129 g/t silver-equivalent) and containing 52.1 million oz. of silver and 370,000 oz. of gold. The inferred useful resource is 10.9 million tonnes at 47 g/t silver and 0.44 g/t gold (104 g/t silver-equivalent) and containing 16.4 million oz. of silver and 156,000 oz. of gold.

Extra data is posted on www.Avino.com.

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Written by colin


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