Avino Silver & Gold Mines Begins Underground Development at La Preciosa
Durango, Mexico, Thursday, 16 January 2025.
Avino Silver & Gold Mines has started underground work at La Preciosa, enhancing production and profitability with its significant silver resources.
Strategic Development Launch
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE) [3] has initiated underground development at its wholly-owned La Preciosa property on January 14, 2025 [4], following the successful acquisition of all necessary mining permits [1]. The project involves the development of a 350-metre mine access and haulage decline, specifically designed to intercept the high-grade La Gloria and Abundancia veins [1]. Located approximately 19 kilometers from Avino’s existing operations [1][4], La Preciosa represents one of Mexico’s largest undeveloped primary silver deposits [3].
Financial Position and Investment
The initial phase of development is budgeted at under $5 million [1][3], with funding secured through the company’s existing cash reserves. As of December 2024, Avino maintained a strong financial position with approximately $26 million in cash and remains debt-free, excluding operating equipment leases [1][4]. This robust financial foundation demonstrates significant cash flow generation throughout the fourth quarter of 2024 [1].
Operational Infrastructure and Resources
The project benefits from existing infrastructure, including a 2,500 tonnes-per-day mill processing facility [1][4]. La Preciosa’s mineral resource inventory has significantly enhanced Avino’s consolidated National Instrument 43-101 mineral resources, which currently stands at 371 million silver equivalent ounces [1]. The property’s higher silver grades compared to current mining operations [4] position the company for stronger performance in 2025 and beyond.
Community and Environmental Impact
The development at La Preciosa is expected to generate substantial economic benefits for the local community through direct and indirect employment opportunities [1]. The company has emphasized its commitment to maintaining a minimal environmental footprint while ensuring economic sustainability [1]. This approach follows extensive collaboration with federal and state regulators, as well as significant engagement with community leaders [6].