August 22, 2016
Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) announces production results for the first quarter, ending July 31, 2016, at its San Martin Mine in Queretaro, Mexico.
During Q1, a total of 66,176 tonnes were milled at an average grade of 2.17 g/t gold and 16 g/t silver resulting in the production of 4,207 gold equivalent ounces. Mill recoveries averaged 86.46% for gold and 45.73% for silver. Equivalent gold ounce calculation is based on the average gold:silver ratio of 71.61 during the quarter.
“Although production issues led to over 10,000 fewer tonnes being milled this past quarter, we still raised our ore grade to average over 1,400 ounces per month,” said Robert Eadie, President & CEO of the Company. “The discoveries of high grade zones announced earlier this year have helped smooth out production at San Martin.”
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.
Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compañia Minera Peña de Bernal, S.A. de C.V., which owns the San Martin mine in Queretaro, Mexico. The Company is a public reporting issuer on the Toronto Stock Exchange. The Company is also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or developing these properties further. The Company has interests in properties located in Mexico, Canada and the United States. For more information concerning Starcore, see documents filed under its profile on SEDAR, or visit its website at www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
(Signed) “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
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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