Avino Silver & Gold Mines Ltd. achieved production results of 587,317 silver equivalent ounces, bringing the 12-month trailing total to 2.8 million silver equivalent ounces from the Avino Mine.
James Anderson, Chairman & CEO, said, “Over the last two and a half years, Guanajuato Silver has purchased four Mexican silver mines as part of a strategy to grow our business through acquisitions; we are confident in our ability to identify and acquire additional mining assets that would immediately prove accretive to our shareholders. We are therefore strengthening our balance sheet at a time when the challenging market environment has created what we believe are favorable conditions for the procurement of additional opportunities within Mexico’s mining community.”
“During the quarter, silver production from our Mexican operations improved as a result of higher processed tonnes and grades,” said Keith Neumeyer, President & CEO. “San Dimas and La Encantada have been steady producers in the first half of 2023 and Santa Elena is now well positioned for significant production growth in the second half of 2023 as we traverse back into a higher grade area of the Ermitaño mine.”
The Company concluded open pit mining at the Rodeo mine during the month of June and moved to processing of stockpiled material.
The Transaction is proceeding as previously announced in the Company’s news releases dated May 30 and April 14, 2023, and is expected to close in August.
“We are very pleased with the results from phase 1 of 2023 drilling. The more we explore this property the more indications we find of a large, long lived magmatic-hydrothermal Au-Cu-Ag system with multiple overprinting events. This project is in its infancy and we are only beginning to realize what its potential might be.” – Michael Tucker – Director and Lead Geologist.
“We’ve drilled over 100 additional holes in the Main zone at Los Ricos South since our initial drilling which was included in our July 2020 Mineral Resource Estimate. Our additional drilling has helped us better define the continuity of the high grade ore shoots in the deposit,” said Brad Langille, President and CEO.
“Our continued drilling success shows why we are so excited about the future for this district,” said Dale Andres, CEO of Gatos Silver. “Our next mineral resource and reserve update is nearing completion and will be a first step in extending the mine life and showing the potential scale of SE Deeps.”
Eric Caba, President and CEO of Bear Creek, states, “As previously reported, delays in development work experienced during the first quarter of 2023 impacted Mercedes’ operations during Q2 2023. This primarily manifested itself in lower grades available to process as we continued to catch-up on development in the mine. During Q2 we started making dramatic changes to the operations by implementing more productive mining methods.”
Riverside Resources Inc. is pleased to provide a summary of its ongoing strategic activities over the past six months and an outlook for the second half of the year.
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