July 18, 2011
Vancouver, B.C. - Starcore International Mines Ltd.
“Company”) is pleased to announce results from drilling west of the 29
area mantos at its San Martin Mine in Queretaro, Mexico.
The manto area of area 29 was mined for several years prior to the
Company’s purchase of the mine, producing roughly 250,000 tonnes of ore
grading greater than 6 g/t gold. In the past 8 months, the Company has
regained access to this area and has commenced exploration for
extensions of the previously exploited orebodies. The 6 holes drilled in
this area have all intersected ore grade mineralization which appears
to be horizontal. The hole intersections are all located within a fault
controlled area measuring 3,500 square meters. The Company is
continuing to drill in this area and work is progressing to develop
stopes on these intersections.
The following table summarizes recent drill results:
||True width (m)
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 dip of the structure in the mine. The locations of the
various intersections above can be seen on the drill plan posted on
. Drilling is further south in this zone.
Following the discovery of the 29 manto extension, the first raise has
been driven into the 29 manto extension with a total of six samples from
the muck pile returning values which averaged 17 grams per tonne gold
and 355 grams per tonne silver. The Company is now driving horizontal
sub-levels to define the boundaries of this particular block of
mineralization at its San Martin Mine in Queretaro, Mexico.
In addition to defining reserves, this development will provide above average mill feed.
“We are very optimistic that the pilotos area can provide some high
grade ore that will help the mine maintain the good production which we
have achieved in the first 5 months of this year.” said Robert Eadie,
Executive Chairman and CEO of the Company. “Although it is a relatively
small tonnage this discovery is yet another example of how our
exploration team is continuing to find new reserves.”
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 43-101 and has prepared the technical information contained in
this press release.
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, Chairman
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
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