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Avino Silver & Gold Mines (“Avino” or “the Company”) (TSXV:ASM, NYSE:ASM, FSE:GV6) announces the results of its third quarter 2016 production from its Avino property near Durango, Mexico. As quoted in the press release: With higher projected production in the fourth quarter, we are on pace to meet our internal annual budgeted production targets, despite …
Avino Silver & Gold Mines (“Avino” or “the Company”) (TSXV:ASM, NYSE:ASM, FSE:GV6) announces the results of its third quarter 2016 production from its Avino property near Durango, Mexico.
As quoted in the press release:
With higher projected production in the fourth quarter, we are on pace to meet our internal annual budgeted production targets, despite the challenges faced in the second quarter. Although our overall output was down slightly this quarter, we are encouraged that the decrease was mainly the result of lower recoveries at the Avino Mine where mining activities took place in a new zone. Moving forward, we expect recoveries to improve as we optimize the plant for material from this new zone.
There was a 10% increase in tonnes mined during the quarter. However, underground development metres decreased by 41% due to excess water in the ramp leading down to levels 15.5 and 16. An extra 6″ pipeline has been installed to surface, meaning the additional water can now be pumped out so the lower workings will be accessible again.
Gold and silver production increased by 53% and 10%, respectively. Copper production was down 22%, resulting in overall silver equivalent ounces being down 20% for the quarter.