June 5, 2012
Vancouver, B.C. — Starcore International Mines Ltd. (the “Company”) is pleased to announce results from drilling at its San Martin Mine in Queretaro, Mexico.
The Company has received confirmation on drill results from the newly
discovered area 27 or San Martin footwall vein and has commenced
production on a part of this structure. Drill holes SM 104 and SM 106
were designed to test an area in the footwall of the San Martin
structure on the other side of a fault against which the Huacales zone
was apparently offset. This new structure is located within 50 meters
of the main haulage ramp and consequently the first
exploration/development level quickly reached the target.
Production in May from this area totaled 6145 tons grading 2.06 grams
per ton and 16 grams of silver and intersected hole 104. Development
has indicated a structure with between 3 and 5 meters of true width
which is offset by crosscutting minor faults up to 3 meters. This San
Martin footwall vein dips between 30 and 45 degrees to the southeast.
The following table summarizes recent drill results:
* This intersection contained 3 sample intervals which returned
results greater than 30 grams per tonne of gold and have not been cut.
|True width (m)
San Martin footwall vein
The assay results are the average of mine lab results with certified
commercial lab results. True widths are based on the dip of the hole
and the known or estimated dip of the structure in the mine. Due to the
number of faults in this area of the mine there are some additional
holes that have no economic values. The two holes are on the same
bearing and have tested a vertical distance of 17 meters.
The first intersections in hole 106 is the last remnant ore in the
Huacales stope which is immediately below and near the main haulage
ramp. Drilling is continuing to define the structure along strike and
down dip. An additional level is also currently being developed roughly
20 meters below the level 2 development.
“This new area or footwall vein opens up exciting exploration
possibilities for us as the entire San Martin section of the mine above
level 4 is open for this structure to continue, potentially 700 meters
of strike length.” said Robert Eadie, Executive Chairman and CEO of the
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
Signed “Robert Eadie”
Robert Eadie, Executive Chairman & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-602-4935
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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