Corporate News Blog – Avino Announces Update on Bralorne Gold Mine; Reviews Three Different Potential Scenarios for an Operating Plan

LONDON, UK / ACCESSWIRE / July 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Avino Silver & Gold Mines Ltd. (NYSE: ASM) (“Avino”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ASM. The Company provided an update on the Bralorne Gold Mine, located near Gold Bridge, British Columbia. Avino acquired the Bralorne Gold Mine in 2014, and since then, it has focused on returning this historical gold mine to production, while developing long-term relationships with the First Nations and Local Communities. The Company has shuddered a phased approach to the future reopening of the mine and rather focused on evaluating the possibility of combining the phases and potentially start the mine at a higher operating rate. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Progress Update

Avino announced that it has reviewed three different potential scenarios for developing an operating plan. Under the previous phased plan, the emphasis was laid on a small tonnage operation, and during the course of the work being completed on site consultants have identified ground and safety issues in the existing 800 level tunnel. The Company determined that the 800 level, needed rehabilitative work, and hence, consultants were engaged to review and develop a plan for the repairs. Now, according to Avino, the consultant recommendations are to construct a new tunnel on the 800 level, due to the age and limited size of the original main access tunnel. The future construction of a new tunnel will enable earlier access to resources below the 800 level.

The New Tunnel

Under the proposed development plan, the new 800 level tunnel would be sized for mechanical equipment (4.5 meters X 4.5 meters) for the long-term development of the mine to depth. Also, the new construction would be near the mill and replace the old 800 tunnel, which was only accessible by small track equipment. The old tunnel, post the construction would be made safe and will still be used for ventilation, secondary egress, and mine water drainage. The proposed new tunnel also initiates the testing of a different mining method, namely the sub level long hole retreat mining on veins where the hanging wall, foot wall, and mineralization are conducive to the method, which is safer and more productive than the shrinkage and cut-and-fills mining methods, used previously.

Underground Drill Program and Surface Expansion

At the site, an underground drill program will be carried out to better define the resources above and below the 800 level. The Company also expects to carry out a surface exploration program this year, consisting of mapping and trenching, and some drilling on its expanded ground position. Additionally, the Company is in discussions with the Ministry of Mines and Energy (“MEM”) and Ministry of the Environment (“MOE”) to receive an amended Mine Permit which would be updated to modern environmental and permitting standards that would allow the Company to operate the mine at 100 tons per day.

Key Milestones

Avino is a leading silver and gold producer with a diversified portfolio of gold, silver, and base metal properties in Mexico and Canada, where it employs around 500 people. The Company doubled the size of the original Water Treatment Plant from 3.5 liters per second to 7 liters per second in 2015, as the mine water runoff during freshet increased massively. Avino also constructed a new WTP in 2016, capable of treating 35 liters per second. The Company raised the dam for the Tailings Storage Facility (TSF) by 2.4 meters in 2015, and also constructed a buttress at the toe of the dam for the TSF in 2016, and also received approval to use the TSF in September 2016.

Last Close Stock Review

On Tuesday, July 11, 2017, the stock closed the trading session at $1.50, climbing 2.39% from its previous closing price of $1.47. A total volume of 126.17 thousand shares have exchanged hands. Avino Silver & Gold Mines’ stock price advanced 5.63% in the past six months. Furthermore, since the start of the year, shares of the Company have gained 9.49%. The stock is trading at a PE ratio of 34.09. At Tuesday’s closing price, the stock’s net capitalization stands at $79.52 million.

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