Starcore Produces 5,196 Equivalent Gold Ounces in Fiscal Q1
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 16, 2015) - Starcore International Mines Ltd. (the "Company") (SAM.TO) announces production results for the fiscal 2016 1st quarter, ending October 31, 2015, at its San Martin Mine in Queretaro, Mexico.
During Q1, a total of 78,016 tonnes were milled at an average grade of 2.22 g/t gold and 21 g/t silver resulting in the production of 5,195 gold equivalent ounces. Mill recoveries averaged 86.6% for gold and 53.8% for silver. Equivalent gold ounce calculation is based on the actual daily average gold:silver ratio of 74.92 during the quarter.
Operations have resulted in a 10.7% increase in equivalent ounce production compared to fiscal 2015 Q4 with reported 4,694 gold equivalent ounces, and are even better when compared to 2015 Q3 which produced 4,423 gold equivalent ounces.
The discovery in July and rapid development of a previously unknown manto lens in area 30 have enabled the mine to maintain consistent production in each month during the quarter.
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.
About Starcore
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 MINES LTD.
Robert Eadie, President & Chief Executive Officer
Neither the Toronto Stock Exchange nor its Regulation Services Provider (accepts responsibility for the adequacy or accuracy of this release.
