Avino Silver & Gold Mines Ltd. [ASM-TSX, NYSE American; GV6, FSE, Berlin] on Wednesday January 13th, released an up to this point mineral resource estimate for its flagship Avino Mine shut to Durango, Mexico.
The up to this point estimate comprises the property’s Avino Mine vein systems, the San Gonzalo Mine, and the property’s oxide tailings.
The firm said the total measured and indicated mineral resource tonnage in all deposits stands at 20.3 million tonnes and contains 75.9 million oz. of silver the same, consisting of 44.9 million oz. of silver and 436,000 oz. of gold, plus 83,000 tonnes of copper.
On top of that is an inferred resource of 6.6 million tonnes, containing 21.8 million oz. of silver the same, comprised of 12.5 million oz. of silver, 129,000 oz. of gold and 17,700 tonnes of copper.
“We’re overjoyed to absorb efficiently gone over and above replacing mining depletion since the outdated file, by adding fundamental measured and indicated assets at the Avino property,” said Avino President and CEO David Wolfin.
“The up to this point mineral resource estimate offers us with a sturdy prolonged-timeframe outlook. With several areas on the property that absorb yet to be explored, there is a sturdy in-situ doable for extra doable resource expansion,” he said.
Highlights from Wednesday’s file consist of a 60% elevate in measured and indicated silver the same oz.. Copper and gold grades absorb furthermore elevated by 6.0% an 11% to 0.41% and nil.67 g/t respectively.
Avino shares fell on the news, dropping 3.7% or $0.06 to $1.55 in gentle trading. The shares are for the time being trading in a 52-week differ of $2.04 and 26.5 cents.
Till the slay of 2019, Avino operated two producing mines on its Avino Property, including the Avino and San Gonzalo. The San Gonzalo Mine is found approximately 2 km from the unusual Avino Mine and under the shallow workings of an oldschool mine from the Colonial duration.
Then all any other time, mining exercise ceased at San Gonzalo at some level of the fourth quarter of 2019 following seven years of mining. At some level of that time, San Gonazalo produced 6.0 million silver the same oz. at an average cost of US$10 an ounce.
In 2019, Avino and San Gonzalo collectively produced 2.4 million oz. of silver the same.