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Avino unveils resource boost at flagship mine

Producer Avino Silver & Gold Mines has announced a significant boost to measured and indicated resources at its namesake operation in Mexico.
Avino unveils resource boost at flagship mine Avino unveils resource boost at flagship mine Avino unveils resource boost at flagship mine Avino unveils resource boost at flagship mine Avino unveils resource boost at flagship mine

Avino Silver & Gold Mines’ flagship, namesake mine in Mexico

Staff reporter

It said silver-equivalent ounces had increased 60% from a 2018 estimate to 75.9 million ounces, out of 20.2 million tonnes grading 117g/t Ag-eq.

The updated estimate included the Avino mine's Elena Tolosa vein systems, the San Gonzalo mine and the property's oxide tailings.

Silver-equivalent ounces in the inferred resource decreased by 6% to 21.8Moz Ag-eq.

Avino said the western portion of the inferred oxide tailings resource was reduced, due to uncertainty of the bedrock topographic profiles under the tailings and the increased depth of sulphide tailings placed above the western portion of the inferred oxide tailings resource.

"We are thrilled to have successfully gone over and above replacing mining depletion since the previous report, by adding significant additional measured and indicated resources at the Avino property," president and CEO David Wolfin said.

He said there was potential for further resource extension and drills would be active again this quarter.

Avino had reported zero production for the September quarter, due to a strike which began in July and ended in October.

Its operations were also out of action for much of the June quarter due to Mexico's COVID-19 countermeasures.

The company ended September with working capital of US$16.9 million.

Its shares (TSX: ASM) closed down 3.1% to C$1.56, towards the upper end of a one-year range.

Avino has a market capitalisation of $139 million (US$110 million).