August 19, 2015
Vancouver, B.C. — Starcore International Mines Ltd.
(the “Company”) announces production results for the fiscal 2015 and
the 4th quarter, ending July 31, 2015, at its San Martin Mine in
Queretaro, Mexico. Neither the Toronto Stock Exchange nor its Regulation
Services Provider (accepts responsibility for the adequacy or accuracy
of this release.
During Q4, a total of 77,279 tonnes were milled at an average grade of
2.00 g/t gold and 19 g/t silver resulting in the production of 4,694
gold equivalent ounces. Mill recoveries averaged 86.9% for gold and
57.4% for silver. Equivalent gold ounce calculation is based on the
actual daily average gold:silver ratio of 73.01 during the quarter.
Operations have resulted in a 6% increase in equivalent ounce production compared to Q3.
In terms of the fiscal year ended July 31, 2015: The plant achieved
85.1% recovery of gold and 53.1% for silver from the 311,897 tonnes
milled during the fiscal year. Head grades averaged 2.14 g/t gold and
18.24 g/t silver resulting in 19,635 equivalent gold ounces of
production during the fiscal year. Equivalent gold ounce calculation is
based on the actual daily average gold:silver ratio of 71.62 during the
The discovery of previously unknown manto mineralization during early
July in area 30 has enabled the mine to improve head grades to those
typical of the last few years. Development continues to define this
block of ore while exploration looks for its extension. The location of
these high grade zones has been common in the past few years and
validates the approach we take in underground exploration.
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.
More information on Starcore is available 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
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
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