Starcore Announces First Quarter Production Results
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or "the Company") announces production results for the first fiscal quarter ended July 2024, at its San Martin Mine ("San Martin") in Queretaro, Mexico.
"The first quarter results are indicative of the average production we expect to see in the coming quarters," said Salvador Garcia, COO of the Company. "The results reflect the current situation at San Martin and include only the oxide ore. As reported in a previous press release (see news release of May 13, 2024), we have been researching other methods to get the best recovery of gold and silver from our carbonaceous ore. To this end, we joined forces with Kappes Cassiday, an engineering firm headquartered in Reno, Nevada, that specializes in all aspects of heap leaching and cyanide processing. Based on the results of Kappes Cassiday's laboratory work over the last few months, we expect to start the industrial testing of our carbonaceous ore next month."
| 3 Month YTD | ||||||||||
| San Martin Production | Q1 2025 | Q4 2024 | Q/Q Change | 2025 | 2024 | Y/Y Change | ||||
| Ore Milled (Tonnes) | 49,504 | 55,853 | -11% | 49,504 | 57,700 | -14% | ||||
| Gold Equivalent Ounces | 2,841 | 3,242 | -12% | 2,841 | 1,918 | 48% | ||||
| Gold Grade (Grams/Ton) | 1.92 | 1.91 | 1% | 1.92 | 1.13 | 70% | ||||
| Silver Grade (Grams/Ton) | 20.03 | 19.59 | 2% | 20.03 | 14.24 | 41% | ||||
| Gold Recovery (%) | 85.24 | 88.58 | -4% | 85.24 | 83.99 | 1% | ||||
| Silver Recovery (%) | 56.90 | 56.86 | 0% | 56.90 | 45.82 | 24% | ||||
| Gold: Silver Ratio | 78.72 | 87.13 | 78.72 | 81.98 | ||||||
Salvador Garcia, B. 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.
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. While this base of producing assets is complemented by exploration and development projects throughout North America, Starcore has expanded its reach internationally with the project in Côte d'Ivoire. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD
Signed "Robert Eadie"
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935
The Toronto Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.
This news release contains "forward-looking" statements and information ("forward-looking statements"). All statements, other than statements of historical facts, included herein, including, without limitation, management's expectations and the potential of the Company's projects, are forward-looking statements. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company's management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update forward‐looking statements or beliefs, opinions, projections or other factors, except as required by law.
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