August 11, 2014
Vancouver, B.C. - Starcore International Mines Ltd.
(the “Company”) announces production results for the fourth quarter of
the fiscal year ending July 31, 2014, at its San Martin Mine in
Over the 3 months, the San Martin mine processed 77,768 tonnes of ore at
an average grade of 2.42 g/t gold and 25.73 g/t silver resulting in the
production of 5,749 gold equivalent ounces using the actual gold:silver
ratio of 64.6:1. This production represents an increase in production
of 411 equivalent ounces from the previous quarter.
Mill recoveries averaged 86.7% for gold and 50.7% for silver during the fourth quarter.
In terms of the fiscal 2013-2014 year, production totaled 24,037 gold
equivalent ounces from 308,610 tonnes milled, consisting of 22,018
ounces of gold and 126,519 ounces of silver using a gold:silver ratio of
62.67. Ore grade for the fiscal year averaged 2.55 g/t gold and 24.2
g/t silver with recoveries of 87.1% for gold and 52.7% for silver.
In comparison with the recently ended fiscal year to the previous
2012-2013 fiscal year: 1,268 more tonnes were milled, gold grade
improved 8.5% and gold recovery improved 10.4%. Despite a change in
gold:silver price ratio from 54.6 to 62.7 resulting in lower
contribution to equivalent ounces from silver, gold equivalent ounce
production was 18% higher than the previous fiscal.
“The production of an average of 2,000 equivalent ounces per month is a
significant achievement for the operational team at San Martin resulting
from successful exploration, mine planning and plant operation, said
Robert Eadie, President and CEO of Starcore. “Congratulations to all
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, President & 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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