VANCOUVER, British Columbia, July 20. 2022 (GLOBE NEWSWIRE) — Avino Silver & Gold Mines Ltd. (TSX:ASM) (NYSE American:ASM) (FSE:GV6) announced strong second quarter production results from its Avino Mine property in Mexico. Avino, primarily a silver producer from its historic 99.28% owned Avino mine near Durango, Mexico, also maintains a diverse pipeline of gold, silver and base metal exploration properties.
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Silver equivalent production for the 2nd quarter was 649,569 ounces, an increase of 42% compared to the 457,798 ounces reported in the 1st quarter of 2022. Silver production increased by 37% to 225,537 ounces, with gold production up 69% to 1,350 ounces, and copper production up 35% to 1,644,342 pounds.
Mill throughput for the quarter increased 6% from the prior quarter to 118,224 dry tons.
Over Avino’s 54-year history, the mine has operated for various periods and as such has generated different types of tailings, with 3 distinct areas of oxide tailings identified corresponding to the mining timeline of the previous historical transactions. During the first half, the company continued its drilling campaign on its Oxide Tailings project.
Results released on April 7, 2022 and May 24, 2022, from a combined 127 holes, continued to highlight the potential for resource expansion. With metallurgical testing ahead, Avino is moving toward its goal of advancing this project to the next phase of development.
On June 13, 2022, Avino announced drill results from the Avino Elena Tolosa Zone below the current Level 17 mining area. These results confirmed down-dip continuity of Avino Vein widths and grades extending significant potential to a depth of at least 290 meters down dip below current development. Avino is advancing geological modeling to determine potential geometry and mineralization controls. A second hole has been added to this program to include 13 more holes over 7,000 meters.
By the end of June, the company had released results from a total of 7,694 meters that had been drilled in several different areas of the Avino property, including the Oxide Tailings project. In line with its strategic plans to become an intermediate producer in Mexico, Avino granted Endurance Gold an option in May to acquire 100% ownership of the former Minto gold mine, the Olympic and Kelvin gold prospects, located in north of the Bralorne mine in British Columbia. .
The shares are trading at $0.71 on the Toronto Stock Exchange. For more information, please visit the company’s website at www.avino.comcontact Jennifer North, Director, Investor Relations, at 604-682-3701 or by email at IR@avino.com.
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