Bralorne gets the green light

The British Columbia government has issued a mine development certificate to joint-venture partners Avino Mines & Resources (VSE) and Bralorne-Pioneer Gold Mines (VSE) for their Bralorne mine project in southwestern British Columbia.

The partners plan to start underground mining and milling at a daily rate of 200 tons, ramping up to 450 tons at a later date.

Ore will be obtained from reserves left over from previous operations and from target areas recently identified. The property is situated near Bridge River.

The initial capital cost is estimated at $5 million, and based on a 200-ton-per-day operation, the joint venture expects to produce 20,000 oz. per year at a cash cost of US$250 per oz.

Avino plans to consolidate its shares on a 1-for-5 basis prior to raising additional equity funds. Upon completion of the consolidation, the company will have 3.5 million shares outstanding.