阿维诺 Announces Updated Positive Preliminary Economic Assessment For The 'Oxide Tailings':4050万美元的基准税前净现值(8%)和48.4%的内部收益率

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阿维诺 银 &金矿有限公司(ASM:TSX.V,ASM:NYSE– MKT, GV6: FSE, “Avino” or “the Company”) 很高兴地宣布,它已经完成了更新的《初步经济评估》(“PEA”)撤回墨西哥杜兰戈的Avino港式五张,其中包括公司的结果’的Avino矿场的最新2016年资源估算(请参阅日期为2016年9月26日的新闻发布),包括San Gonzalo矿,Avino主矿井系统和该矿场’s 氧化港式五张 . Summaries of the current 资源s used for the 豌豆, a preliminary Life of Mine Plan (LOMP), operating costs, capital costs and project economics are presented in tables below. The 豌豆 has been prepared in accordance with National Instrument 43-101, and a compliant Technical Report is being completed by 利乐科技 加拿大 Inc. (“Tetra Tech”), and the 豌豆 will be filed on SEDAR and with the U.S. Securities and Exchange Commission within 45 days of this release. All currency values are presented in US$ unless otherwise specified.

Highlights of the 氧化港式五张 Preliminary Economic Assessment

  • 税前净现值(NPV)为4050万美元,为8%
  • 强劲的税前内部收益率为48.4%
  • 2年回收期
  • 资本支出总额为2850万美元
  • 矿山寿命为7年,LOM为312万吨氧化港式五张材料

Mr. 大卫·沃尔芬, 总统 and CEO stated, “We are extremely pleased with the very attractive economics of the 氧化港式五张 资源资源 豌豆. 这些积极的结果将使我们能够计划下一步,确定任何其他研究并继续推进氧化物港式五张项目。 我们打算遵循技术报告中包含的建议,其中将包括预可行性阶段,我们将继续审查用于存储现有港式五张的替代方法。”

The 氧化港式五张 deposit comprises historic recovery plant residue material deposited during the earlier period of open pit mining of the 阿维诺 Vein, when there were poor process plant recoveries for silver and gold. The oxide tailings are partially covered by younger unconsolidated sulphide tailings on the northwest side of the property.

经济和运营亮点

The 豌豆 incorporated 基本情况 metal prices of $18.50/oz silver, and $1,250/oz gold. Highlights of the 基本情况 economic estimates for the 氧化港式五张 资源资源 are shown in the following table:

The base case 豌豆 provides a solid foundation for focused growth and demonstrates the value of the existing infrastructure, and outlines a low capital cost option with attractive returns.

The 豌豆 focuses on the 氧化港式五张 Retreatment of the 阿维诺 mine as a stand alone project with an initial 7 year life of mine plan (“LOMP”). 硫化物将在预可行性研究阶段进行考虑,并对其自身的经济可行性进行评估。 这种方法使用较低的初始资本成本即可提供诱人的经济回报。

下表列出了基本案例的财务结果:

描述基础
案件
黄金价格(美元/盎司)1,250
白银价格(美元/盎司)18.5
应付金属总价值(美元)’000)148,892
精炼(美元’000)6,123
运输,保险(美元’000)214
地雷收入(美元’000)142,555
运营成本(美元’000)47,034
营业现金流量(美元’000)95,521
生产前资本(美元’000)24,363
维持资本(美元)’000)4,352
残值(美元)’000)-861
开垦成本(美元)’000)606
资本总支出,包括填海和打捞(美元)’000)28,460
现金运营成本(按美元/盎司支付的应付银价,扣除Au信用额)2.21
资本成本(美元/盎司,应付银价)4.85
总成本(美元/盎司,应付银价)7.07
净现金流量(美元)’000)67,061
现金流量折现净现值(美元)’000) at 5.00%48,922
现金流量折现净现值(美元)’000) at 8.00%40,554
现金流量折现净现值(美元)’000) at 10.00%35,786
投资回收期(年)2.0
内部收益率(%)48.4

项目平均材料吨位,品位和金属产量的寿命如下所示:

描述
磨房总吨3,122,000
设计年吨磨500,000
工厂可用性90%
矿山生活(年)7
平均成绩
金(g / t)0.43
银(克/吨)87.75
总产量
金(盎司)33,000
银(盎司)6,173,000
年平均产量
金(盎司)4,660
银(盎司)881,920
  • 不包括1年的前期制作

豌豆 Study Parameters and basis of Financial Evaluations

该生产计划已纳入100%股权的税前财务模型中,以根据处理的吨位,品位和回收率之间的关系发展年度回收金属产量。

黄金和白银的应付价值是根据基本情况下的金属价格计算得出的。 每年通过从应付金属价值中减去适用的精炼费用来计算发票净值。 然后通过减去运输和保险成本来估算矿山收入。 采矿,加工和采矿的运营成本&从矿山收入中扣除A,即可得出年度经营现金流量。

在矿山的使用寿命中,每年都合并了初始和持续的资本成本以及营运资本。 残值和矿山复垦成本计入上一个生产年度的资本支出。 然后从运营现金流量中扣除资本支出,以确定税前净现金流量。

初始资本支出包括首次生产钻头之前积累的成本。 维持资本包括生产期间所需的任何资本支出。 经济分析中使用的初始资本成本和持续资本成本分别为2436万美元和435万美元。

The Company cautions that the 豌豆 is preliminary in nature in that it is based on 推断 矿物资源 which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral 保留s, and there is no certainty that the 豌豆 will be realized.  Mineral 资源s that are not mineral 保留s do not have demonstrated economic viability.

敏感性分析

调查了项目净现值,内部收益率和项目关键变量的投资回收期的敏感性。 以基本情况为参考,所有关键变量在-10%的-30%/ + 30%之间更改 保持其他变量不变的时间间隔。项目净现值对白银价格最为敏感,而对金价,运营成本则降序排列;和资金成本。 项目内部收益率对资本成本和白银价格最为敏感,其次是黄金价格,运营成本和黄金价格。投资回收期对白银价格也最敏感,其次是资本成本,运营成本和金价。

税后经济分析

阿维诺 commissioned PricewaterhouseCoopers ‘PwC’ in 墨西哥 to prepare the tax component for the post-tax economic evaluation for this updated 豌豆 with the inclusion of applicable income and mining taxes, and the results are as follows:

  • 墨西哥的联邦所得税是根据当前制定的30%的公司税率计算的
  • 对净利润征收7.5%的特别采矿税(SMD),该税每年支付一次,并可从税收中扣除,因此有效税率为5.25%
  • 在黄金和白银的基本价格情况下,在7年的LOM中应缴税金总额估计为2632万美元,如下所示:
 单元基本情况
美国/盎司1,250
美国/盎司18.50
非凡采矿职责百万美元0.71
特殊采矿义务百万美元7.16
所得税百万美元18.4
总税百万美元26.32

税后财务摘要

 单元基本情况
美国/盎司1,250
美国/盎司18.50
未贴现NCF百万美元40.74
净现值(5%)百万美元28.01
净现值(8%)百万美元22.19
净现值(10%)百万美元18.8
内部收益率%32
回收期年份2.6

资金和运营成本

All estimates are based on mining the Oxide Tailing 资源 only. 包括填海和打捞在内的总资本成本估计为2850万美元。该过程的运营成本包括集聚,堆浸,然后由美林-克劳炼厂生产白银/金矿石。运营成本估算以美元报告,墨西哥比索对美元的汇率为12.5。运营成本估算对汇率敏感。 年度运营成本包括:

  • 人员配备和维护人员
  • 功耗基于设备估计的功耗
  • 试剂消耗率和相关成本基于最近从试剂供应商处获得的价格
  • 估计维修费用

加工设施和G的运营成本汇总&成本基于1,370的加工设计率 吨/天(每年500,000吨),每年可利用率90%,每年365个工作日,因此有效年产量为450,000吨。

加工设施的年平均年度运营成本估计为每吨港式五张15.06美元,按每天1,370吨的加工速度处理,如下表所示:

运营成本摘要:

描述人员单位成本
(美元/治疗)
矿业151.13
处理3912.53
G&A111.41
总运营成本6515.06

选矿,冶金测试和回收方法

利乐科技 used the estimated grade values and test work results as reported by MineStart 管理 Inc. (MMI) and 处理 研究 Associates Ltd. (PRA), who conducted the metallurgical tests, to develop the process flowsheet. The investigated metal recovery methods included gravity separation, flotation, tank cyanide leach, and heap leach processing options. According to preliminary economical evaluations, a heap leach followed by gold and silver recovery using Merrill Crowe process was selected for the 豌豆 study.

开采方法

The oxide tailings mineral 资源 will be mined/moved using a conventional truck/loader surface mining method. The Production cycle consists of loading and trucking. 装卸/卡车操作将每天进行两次,每班12小时。 将使用3.85立方米(5.0立方码)的前端装载机装载三辆24吨铰接式卡车,该卡车将硫化港式五张输送到硫化物废料堆,或将氧化港式五张输送到氧化港式五张料斗。氧化港式五张的生产计划已根据500的处理率制定 kt / a,这相当于1,370的吞吐率 t/d. 这将使整个项目持续约8年。 这八年期间包括一年的预生产期,并且不包括在浸出过程完成后修复堆所需要的时间。此时仅考虑氧化物港式五张,而将硫化物材料视为废物。 LOM处理的氧化港式五张总量为312万吨,平均等级为87.75 g/t silver and 0.43 g/t gold.

环境因素

技术报告中将概述项目可能需要的环境参数,许可证和注册以及环境管理策略。项目运营所需的许可和授权可能包括运营许可,土地使用权申请,废水排放登记,危险废物产生者’的注册,以及环境影响评估(EIA)或环境影响评估。酸碱法(ABA)测试表明,港式五张坝可能已经开始产生轻度酸。应该完成间隙分析和其他测试以进一步表征港式五张的当前状况,以正确设计港式五张管理计划。

矿产资源讨论
氧化港式五张

A mineral 资源 was estimated for the oxide tailings generated from prior historical mining operations, using ordinary kriging (OK) interpolation and uncapped grades. The assay values for this estimate are based on 28 drill holes, which were completed on the tailings by CMMA in 1990, and include 407.75 米的钻探和383种金和银测定法。氧化物港式五张估计包含2.34 Mt inferred mineral 资源 at a grade of 91.3 g/t silver and 0.54 g/t gold, with a 50 g/t silver cut-off. The entire 资源 is classified as an inferred mineral 资源, based on the historical nature of the drilling (prior to the institution of NI 43-101 and associated quality assurance/quality control (QA/QC) requirements). Verification samples collected confirmed the presence of gold and silver mineralization at grades similar to those obtained in the original tailings drilling campaign and confirmed that the Mine’s lab assays are not materially different from those of external labs. It is QG 金stralia (Pty) Ltd.’s opinion that the oxide tailings sampling data are considered sufficient to support the purpose of the Technical Report and a current inferred mineral 资源.

矿物资源

The Company’s 金gust 2016 mineral 资源 estimate was used as the 资源 base for the 豌豆.  This new estimate includes data from 57 holes drilled during the last two years. Due to closer drill hole spacing, there is sufficient information to justify elevating 1,330,000 tonnes of the previous 2,340,000 tonnes of inferred 资源s to the indicated category. However, there is still an additional inferred 资源 of 1,810,000 tonnes in the new estimate.  The oxide tailings 资源 is accessible on surface and contains significant gold and silver grades. The 资源 estimate used in the 豌豆 for the oxide tailing 资源 is outlined in the table below at a cut-off grade of 50 均衡器 克/吨.

实测&矿产资源指示

年级

金属含量

资源资源
类别
存款 隔断
(AgEQ
克/吨)
公制
公吨
均衡器
克/吨

克/吨

克/吨
铜% 银百万
Tr Oz
千金
Tr Oz
已指示氧化港式五张 501,330,000124980.460.004.219.80
推断氧化港式五张 501,810,000113880.440.005.125.60

矿产资源说明

Mineral 资源s that are not mineral 保留s do not have demonstrated economic viability. The 豌豆 is preliminary in nature as it includes inferred mineral 资源s that are considered too speculative geologically to have the economic considerations applied to them that would enable to them to be categorized as mineral 保留s. At this time there is no certainty that the results of the 豌豆 will be realized.

推荐建议

技术报告包含以下建议,以进一步开展工作:

资源估算

  • In order to improve confidence in the inferred mineral 资源 of the oxide tailings and evaluate the overlying sulphide tailings, a sonic drill program of 90 holes with 50 m x 50 m钻collar间距总计1,800 m is recommended.
  • 资源资源 estimates for the ET Zone of the 阿维诺 vein, the San Gonzalo vein and tailings should be completed for mine planning purposes.
  • 在进行估算之前,应合并钻孔数据库并更新开采消耗。

处理

  • 从氧化物港式五张和硫化物港式五张中获取足够量的样品,以获得具有代表性的样品,用于化验和冶金测试工作,以确定矿床的品位以及从堆浸过程中回收银和金。
  • 使用冶金测试工作程序中的结果来确认/定义在垫板上的浸出时间,试剂消耗量以及银和金的沉淀效率。
  • 研究硫化物港式五张材料的冶金性能,并开发出硫化物港式五张材料的加工方法,包括将硫化物港式五张与氧化物港式五张共同处理。

环境因素

应该进行详细的权衡研究,以表征硫化物港式五张的当前状况,并确定对该材料的再处理是否将有助于该项目的盈利。

合格人员

The Qualified Persons as defined by NI 43-101, who supervised and are responsible for the Technical Report on the 氧化港式五张 Retreatment of the 阿维诺 Mine, and have reviewed the scientific, technical and financial content of this news release, are Hassan Ghaffari, MASc., P.Eng., P.Eng, Jianhui Huang, PhD., P.Eng, of 利乐科技 加拿大 Inc., Sabry Abdel‐Hafez, PhD., (previously with 利乐科技 加拿大 Inc.) and Michael O’Brien P.Geo., Pr.Sci.Nat., who is an employee of QG 金stralia Pty Ltd (an ARANZ Geo Company) and independent of 阿维诺, as defined by Section 1.5 of NI 43-101. The Technical Report for the 豌豆 will be filed on SEDAR with 45 days of this release.

阿维诺’s projects are under the supervision of Chris Sampson, P.Eng, 阿维诺 Consultant and Jasman Yee P.Eng, 阿维诺 Director, who are both qualified persons within the context of National Instrument 43-101. Both have reviewed and approved the technical data in this news release.

About 阿维诺

阿维诺’s是一家白银和黄金生产商,在墨西哥和加拿大拥有多元化的金,银和贱金属矿产资源,拥有约500名员工。  阿维诺 produces from its wholly owned 阿维诺 and 圣贡萨洛矿s near Durango, 墨西哥, and is currently planning for future production at the 布拉洛恩金矿 in British Columbia, 加拿大. The Company’s gold and silver production remains unhedged. The Company’s mission and strategy is to create shareholder value through its focus on profitable organic growth at the historic 阿维诺 Property near Durango, 墨西哥, and the strategic acquisition of mineral exploration and mining properties. We are committed to managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which we operate.

代表董事会

“大卫·沃尔芬”
________________________________
大卫·沃尔芬
总统 & CEO
阿维诺 银 & 金 Mines Ltd.

安全港声明-本新闻稿包含“前瞻性信息” and “前瞻性陈述” (together, the “前瞻性陈述”) within the meaning of applicable securities laws and the 单元ed States Private Securities Litigation Reform Act of 1995, including our belief as to the extent and timing of various studies including the 豌豆, and exploration results, anticipated capital costs and operational costs, the potential tonnage, grades and content of deposits, timing and establishment and extent of 资源 estimates. These 前瞻性陈述 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 前瞻性陈述, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such 前瞻性陈述 will occur or that plans, intentions or expectations upon which the 前瞻性陈述 are based will occur. While we have based these 前瞻性陈述 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 前瞻性陈述.

这些因素和假设包括:一般经济状况,金,银和铜的价格,汇率变化和政府当局采取的行动的影响,与法律程序和谈判有关的不确定性以及在准备未来过程中的错误判断。信息。此外,存在已知和未知的风险因素,这些因素可能导致我们的实际结果,业绩或成就与前瞻性陈述所表达或暗示的任何未来结果,业绩或成就发生重大差异。已知的风险因素包括与项目开发相关的风险;需要额外的资金;与采矿和矿物加工有关的操作风险;金属价格的波动;标题事项;与在国外开展业务有关的不确定性和风险;环境责任索赔和保险;依赖关键人员;我们的某些高级职员,董事或发起人与某些其他项目之间可能存在利益冲突;没有股息;货币波动;竞争;稀释;我们普通股价格和交易量的波动性;对美国投资者的税收后果;以及我们在加拿大和美国的监管文件中规定的其他风险和不确定性。尽管我们试图找出可能导致实际行动,事件或结果与前瞻性声明中所述的因素大不相同的重要因素,其他导致行动,事件或结果不符合预期,估计或预期的因素。无法保证前瞻性陈述将被证明是准确的,因为实际结果和未来事件可能与此类陈述中的预期存在重大差异。因此,读者不应过分依赖前瞻性陈述。除适用的证券法另有规定外,我们没有义务更新或更改任何前瞻性陈述。

给美国投资者的警告提示-本文所包含的信息和通过引用并入本文的信息是根据加拿大证券法的要求准备的,该要求不同于美国证券法的要求。特别是,“resource”不等于这个词“reserve”。证券交易委员会’s (the “SEC”)披露标准通常不允许包含有关“measured mineral 资源s”, “indicated mineral 资源s” or “inferred mineral 资源s”或其他不构成矿藏的矿化量的描述“reserves” by 美国证券交易委员会 standards, unless such information is required to be disclosed by the law of 公司’公司注册地或证券交易地。美国投资者也应了解“inferred mineral 资源s”它们的存在有很大的不确定性,其经济和法律可行性也有很大的不确定性。披露“contained ounces” is permitted disclosure under Canadian regulations; however, the 美国证券交易委员会 normally only permits issuers to report mineralization that does not constitute “reserves” by 美国证券交易委员会 standards as in place tonnage and grade without reference to unit measures.

TSX Venture Exchange及其监管服务提供商(该术语在TSX Venture Exchange的政策中定义)均不对本新闻稿的充分性或准确性承担任何责任。

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