Avino Silver & Gold Mines Outlines 2024 Plans and Celebrates 2023 Achievements
Avino Silver & Gold Mines has set its sights on processing 700,000 to 750,000 tonnes of material in 2024, targeting the production of 2.5 to 2.8 million silver equivalent ounces. This production will draw from both the Avino Mine and the La Preciosa stockpiles.
For 2024, Avino has earmarked a total capital budget of $7.3 to $9.0 million, divided into growth capital, exploration and evaluation, and sustaining capital alongside mine development. A significant portion of the growth capital, estimated between $3.0 and $4.0 million, will be allocated to the Avino Mine and La Preciosa. These investments are crucial to the company's five-year growth strategy, with La Preciosa expected to undergo surface works and equipment procurement as part of its initial development phase.
Exploration and evaluation efforts, budgeted between $0.8 and $1.0 million, will concentrate on regional exploration and the structural geology beneath the current Avino Mine production area, without any drilling planned. The company aims to advance La Preciosa to development and production stages, pending environmental permit approvals.
Sustaining capital and mine development expenses, projected to be between $3.5 and $4.0 million, will focus on the rehabilitation and maintenance of Avino's mining fleet, tailings management, and ongoing mine and mill upkeep to ensure safety and continuous production.
Additionally, the company announced a long-term land-use agreement with a local community for La Preciosa's development and shared positive economic results from the Pre-Feasibility Study on the Oxide Tailings project. This progress has significantly increased Avino's mineral resources, marking the first time the company has declared proven and probable mineral reserves.
