Avino Silver & Gold Mines Ltd. announced an updated mineral resource estimate for the Company’s Avino Property on January 13, 2021, and was amended on December 20, 2021. The updated estimate includes the Property’s Avino Mine (Elena Tolosa – “ET”) vein systems, the San Gonzalo Mine, and the Property’s Oxide Tailings. The mineral resources estimate has been included in an updated technical report prepared by Tetra Tech Inc. under National Instrument 43-101 (“NI-43-101”), which will be available on SEDAR (www.sedar.com) under the Company’s profile and filed on Form 6-K with the SEC within 45 days.
Avino’s projects in Durango, Mexico are under the geoscientific oversight of Michael O’Brien, P.Geo., Senior Principal Consultant, Red Pennant Geoscience, and under the supervision of Peter Latta, P.Eng, Avino’s VP, Technical Services, who are both qualified persons within the context of NI 43-101. Both have reviewed and approved the technical data in this news release.
Measured and Indicated Mineral Resources:
- 116.5 million silver equivalent ounces, an increase of 145%
- 52.1 million silver ounces, an increase of 98%
- 116 thousand copper tonnes, an increase of 198%
- 486 thousand gold ounces, an increase of 124%
Inferred Mineral Resources:
- 36.6 million silver equivalent ounces, an increase of 58%
- 16.4 million silver ounces, an increase of 21%
- 35 thousand copper tonnes, an increase of 132%
- 156 thousand gold ounces, an increase of 43%
Mineral Resources at the Avino Property
Figures may not add to totals shown due to rounding.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The Mineral Resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) Definition Standards for Mineral Resources and Mineral Reserves incorporated by reference into National Instrument 43-101 (NI 43-101) Standards of Disclosure for Mineral Projects. Based on recent mining costs (Section 21) Mineral Resources are reported at cut-off grades 60 g/t, 130 g/t, and 50 g/t AgEQ grade for ET, San Gonzalo, and oxide tailings, respectively.
AgEQ or silver equivalent ounces are notational, based on the combined value of metals expressed as silver ounces
Cut-off grades were calculated using the following consensus metal price assumptions: gold price of US$1,875/oz, silver price of US$24.00/oz, and copper price of US$3.10/lb.
Metal recovery is based on operational results and column testing and is shown in Table 14.2.
The silver equivalent was back calculated using the following formulas: ET AgEQ = Ag + 65.1 * Au + 86.6 * Cu ppm / 10,000 ; SG AgEQ = Ag + 72.54 * Au;
Oxide Tailings AgEQ = Ag + 84.55 * Au.