Avino Silver & Gold report higher silver-copper production

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The Avino property near Durango, north-central Mexico. Source: Avino Silver & Gold Mines Ltd.
The Avino property near Durango, north-central Mexico. Source: Avino Silver & Gold Mines Ltd.

Avino Silver & Gold Mines Ltd. [ASM-TSXV, NYSE–MKT; GV6-FSE] reported its first quarter 2016 production results from its Avino property near Durango, north-central Mexico. The Avino Mine has been in intermittent production since the 1500s.

Consolidated Production Highlights for Q1 2016

(Compared to First Quarter 2015)

Silver equivalent production increased by 10% to 715,933 oz*
Silver production increased by 11% to 403,447 oz
Gold production decreased by 14% to 1,497 oz
Copper production increased by 55% to 1,350,912 Lbs

* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $14.84 oz Ag, $1,180 oz Au and $2.12 Lb Cu. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding.

David Wolfin, President, CEO and Director, said, “With a steady first quarter behind us, 2016 is shaping up to be a solid year for Avino. Our operations team delivered another quarter of consistent production and development at the San Gonzalo and Avino Mines respectively, putting us in a strong position to achieve our goals for the year. In 2016 our objectives are to continue to focus on efficient operations including improving recovery rates, meeting production targets, controlling costs and transitioning the Avino Mine from the development phase to underground mining. Underground Mining commenced on April 1 on upper level 11.5 using the long-hole sub-level caving method, which is a cost effective method of extraction.”

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