August 15, 2013
Production Surges to 6,315 Gold Equivalent Ounces
Vancouver, B.C. — Starcore International Mines Ltd.
“Company”) announces production results for the fourth quarter of the
fiscal year ending July 31, 2013, at its San Martin Mine in Queretaro,
Over the 3 months of production, we milled 76,086 tonnes of ore at an
average grade of 2.81 g/t gold and 26 g/t silver resulting in the
production of 6,315 gold equivalent ounces. This production represents
an increase in production of 1,138 equivalent ounces from the previous
quarter. Mill recoveries improved from last quarter and averaged
84.64% for gold and 50.11% for silver during Q4.
The highlight of the quarter was the month of July, during which the
mine saw its best production since late 2007. Production in July
totaled 2,331 gold equivalent ounces due to high grade ore being stoped
in the San Martin footwall vein.
“Production results in the fourth quarter of fiscal 2012-2013 show that
the operation has not only stabilized but is also benefitting from some
of our exploration success in areas such as the San Martin footwall.
We continue to see positive cash flows from mine operations every month
despite the recent drop in the price of gold.” said Robert Eadie,
President & CEO of the Company.
For the fiscal year, production totaled 20,264 equivalent ounces of gold
on 307,342 tonnes of ore processed, despite a very slow start to the
fiscal year with only 3,891 ounces produced in the first quarter. Ore
grade for the fiscal year averaged 2.35 g/t of gold and 21 g/t of silver
with recoveries of 78.9% for gold and 53.8% for silver.
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, Interim President and
Chief Executive Officer
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.
Back to the main News page, or press the Back button on your browser.