Construction
Trident owns a 1.25% NSR royalty and 2.00% GVR royalty over Avino Silver & Gold Mines Ltd.’s La Preciosa Silver-Gold Project in Mexico. Trident is also entitled to a milestone payment of US$8.75M within 12 months of first production.
La Preciosa is an advanced stage development project, hosting one of the largest undeveloped primary silver resources in Mexico. The deposit was originally acquired by Coeur Mining in 2013 for approximately C$350M. In March 2022, Coeur sold the asset to Avino, which operates the Avino Silver Mine and Mill located 19km from La Preciosa. Avino will truck material from La Preciosa to Avino and process it through the existing Avino mill.
April 2024
Avino began milling La Preciosa stockpiles through the Avino mill.
February 2024
In 2024 Avino anticipates it will spend between US$3-4M on La Preciosa in 2024 including surface works and equipment procurement intended for the first phase of mine development. The application for the Environmental permit has been submitted and is one of the last regulatory requirements prior to commencing construction.
Specific work is expected to include:
• Surface office building rehabilitation
• Extensive sampling of historic surface mineralized stockpiles
• Haulage of historic stockpiles to the Avino milling complex
• Reinforcing stability of walls at the mine entrance and previously developed areas underground
January 2024
Avino signed a long-term land-use agreement with the local community for the development of La Preciosa. With the long-term land-use agreement in place, Avino intends to commence hauling of old surface stockpiles from La Preciosa to the Avino mill for processing.
| Location | Mexico |
|---|---|
| Operator | Avino Silver and Gold Mines Ltd. |
| Commodity | Silver |
| Mining Type | Open Pit |
| Stage | Construction |
| Measured & Indicated | 17.44Mt @ 0.34gpt Au, 176.00gpt Ag |
|---|---|
| Inferred | 4.40Mt @ 0.25gpt Au, 151.00gpt Ag |
| Total | 21.84Mt @ 0.32gpt Au, 171.00gpt Ag |
Source: Capital IQ