Pending regulatory approval, the Vancouver-based silver producer will start developing the ramp down to its initial target of the high-grade Gloria vein.
La Preciosa hosts one of the largest undeveloped primary silver resources in Mexico and is located approximately 19km from the current Avino mine, which has an operating 2,500 tpd mill processing facility and all the necessary infrastructure to allow for mineral processing from the mine.
Avino finalized the acquisition of the property rom Coeur Mining (NYSE: CDE) in March 2022 and has been working since on bringing La Preciosa into production.
Its flagship mine, Avino, began commercial production in 2016 and produced around 591,208 silver equivalent ounces in the third quarter of 2023, bringing the 12-month trailing total to 2.63 million silver equivalent ounces.
