2024 OUTLOOK
Production
For 2024, approximately 700,000-750,000 tonnes are planned for mill processing and will be sourced from both the
Growth Capital
The Company's budgeted growth capital for 2024 includes expenditures at the
At La Preciosa, growth capital includes surface works and equipment procurement intended for the first phase of mine development in conjunction with the Company's internal mine plan for the Gloria and Abundancia Veins. With most of the mining and development equipment already at Avino, the Company expects minimal upfront capital needed to begin mine development at La Preciosa.
Management and the Board of Directors are continuing to review the budget for La Preciosa. The environmental permit has been submitted to the relevant authorities and the timing of expenditures is contingent upon approval.
Exploration & Evaluation
The Company's budgeted exploration and evaluation expenditures for 2024 will be focused on regional exploration and further understanding of the structural geology below the current
Sustaining Capital &
At Avino, budgeted sustaining capital and mine development expenditures include rehabilitation and overhauls of the Company's existing mining fleet, tailings management, and ongoing mine and mill maintenance to ensure safety as we continue production operations.
'In 2023, we delivered on several important goals starting with a successful drill program which focused on the area below Level 17, the current deepest workings at the Elena Tolosa area of the Avino system', said
2023 MILESTONES ACHIEVED
A summary of the achieved objectives and milestones for 2023:
Updated Mineral Resource Estimate: On
2023 Production - In line with Internal Production Estimates: The Company's revised internal estimate for production for 2023 was between 2.4-2.7 million AgEq 2 , with actual production for 2023 coming in within the range.
Dry-Stack Tailings Facility: The facility has been fully operational for a year. The conveyor system is installed and is currently transporting the pressed dry residues to various disused open pit areas. A tab is now available on our website that provides further information on our tailings management system , along with a video (in English and Spanish) from the mine site. In addition, a selection of short videos of the facility in operation can be viewed under Videos and Media.
Exploration Drilling: Avino completed its planned and budgeted drilling program by drilling 7,545 metres in 13 drill holes, which included the best intercept in Avino's 55-year history. Our team of geologists on site are implementing the recommendations made by our consulting structural geologists to further study the potential of the entire mineralization. Drilling news releases can be found in these links:
CORPORATE INFORMATION
Avino was recently added to the Nasdaq Metals Focus Silver Miners Index.
'We are excited that Avino was chosen to be included in the Nasdaq Metals Focus Silver Miners Index and believe that our selection to this index is recognition of our growth transformation goals and recent achievements,' stated
The Nasdaq Metals Focus Silver Miners Index is designed to track the performance of companies engaged in the silver mining industry. Companies are selected based on classification by Metals Focus, a leading independent precious metals research consultancy. Eligible companies include those that derive the majority of their revenues from silver mining, have a significant market share of global silver production, or are principally engaged in exploration and development activities related to new silver production. More information about the index can be found at: https://indexes.nasdaqomx.com/Index/Overview/NMFSM .
ADDITIONAL INFORMATION
Avino will release 2023 year-end financial results in mid
About Avino
Avino is a silver producer from its wholly owned
Contact:
Tel: 604-682-3701
Email: IR@avino.com
Cautionary note to U.S. Investors concerning estimates of Mineral Reserves and Mineral Resources
All reserve and resource estimates reported by Avino were estimated in accordance with the Canadian National Instrument 43-101 and the
This news release contains 'forward-looking information' and 'forward-looking statements' (together, the 'forward looking statements') within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the mineral resource estimate for the Company's Avino Property, including La Preciosa, located near Durango in west-central
herein as 'forward-looking statements' are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the estimated amount and grade of mineral reserves and mineral resources, including the cut-off grade; (ii) estimates of the capital costs of constructing mine facilities and bringing a mine into production, of operating the mine, of sustaining capital, of strip ratios and the duration of financing payback periods; (iii) the estimated amount of future production, both ore processed and metal recovered and recovery rates; (iv) estimates of operating costs, life of mine costs, net cash flow, net present value (NPV) and economic returns from an operating mine and (v) the completion of the full Technical Report, including a Preliminary Economic Assessment, and its timing. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as 'expects', 'anticipates', 'plans', 'projects', 'estimates', 'envisages', 'assumes', 'intends', 'strategy', 'goals', 'objectives' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.
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