On the identical cut-off grade, there are 4.4 million inferred tonnes with a mean grade of 151 g/t silver and 0.25 g/t gold for 21 million oz. contained silver and 35,000 oz. contained gold.
Avino is buying La Preciosa from Coeur Mining (NYSE: CDE) for a money complete of $20 million. La Preciosa is a development-stage challenge adjoining to Avino’s current operations on the Avino silver mine.
Coeur will retain a 1.25% web smelter return royalty on the Gloria and Abundancia areas of the challenge and a 2% gross worth royalty on all different areas. Coeur presently owns greater than 10% of Avino and has the proper to appoint a director to Avino’s board.
In July 2014, Coeur ready a feasibility examine for La Preciosa outlining a ten,000 t/d open pit operation that will produce 10.3 million oz. of silver and 12,000 oz. of gold over an 11-year life.
Avino mounted drilled over 12,000 metres on the Avino property through the first 9 months of the yr and has plans to finish 30,000 metes by the tip of the present program. The corporate closed the mine for an prolonged interval in 2020 as a result of covid-19 considerations. Whereas manufacturing was interrupted, the corporate inspected underground, milling, and floor tools to make sure to make sure all are in working situation. Manufacturing resumed in August 2021.
The time was additionally used to plan and acquire group approval to create a dry-stack tailings space, which is to be operational within the first quarter of 2022. Mill information assortment and automation research had been initiated and make enhancements to mill circuit 4 to enhance gold and silver restoration. Two further load-haul-dumpers had been additionally bought for the mine.
The Avino mine has measured and indicated sources of 28 million tonnes grading 58 g/t silver and 0.54 g/t gold (129 g/t silver-equivalent) and containing 52.1 million oz. of silver and 370,000 oz. of gold. The inferred useful resource is 10.9 million tonnes at 47 g/t silver and 0.44 g/t gold (104 g/t silver-equivalent) and containing 16.4 million oz. of silver and 156,000 oz. of gold.
(This text first appeared within the Canadian Mining Journal)