July 14, 2010
- Starcore International Mines Ltd. (the “Company”) is pleased to announce production results for June 2010 at its San Martin Mine in Queretaro, Mexico.
Production stabilized with Starcore’s San Martin Mine producing 1400 ounces of gold and 15,000 ounces of silver from a total of 20,280 tonnes milled with calculated head grades of 2.41g/t Au and 39 g/t Ag. “This is a significant increase from the previous quarter and the month of May,” said Robert Eadie, President of the Company. “With similar grades and tonnage continuing through the first ten days of July, it reinforces the strategy utilized by mine and corporate management to increase production levels and grades at San Martin.”
Previous efforts at the mine tried to increase throughput to produce more ounces to meet production targets and although this was partially successful in April, it resulted in most stopes requiring backfill in May and hence an increasing reliance on less reliable development ore to meet production tonnage.
The mine continues to find new zones of mineralization and ore which are replacing reserves and is expected to increase the life of the mine. One of these structures is the SAM vein located west of previously known mineralization in area 29 of the mine, with grades of 2.7 g/t gold and 15g/t silver. In neighboring area 28, the 3-089 drift has explored a flatter structure where 4,000 tonnes were produced in June grading 2 g/t gold with 52g/t silver.
Mine management is confident that stable grade and production will be realized in the following months and years. The mine plan for July expects a similar grade to June’s with a slight increase in tonnage milled. Subsequent months should then return to 23,000 to 24,000 tonnes milled, typical of production rates in previous years.
David Gunning, P.Eng., a director of the Company and Chief Operating Officer, is the Company’s qualified person on the project as required under NI 43-101and has prepared the technical information contained in this press release.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.Signed “Robert Eadie”
Robert Eadie, President
FOR FURTHER INFORMATION PLEASE CONTACT: President
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
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