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Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - Starcore International Mines Ltd. (TSX: SAM) (FSE: V4JA) ("Starcore" or "the Company") announces production results for the third fiscal quarter ended January 2025 at its San Martin Mine ("San Martin") in Queretaro, Mexico.
The mine operations were back to normal operations for the full quarter as compared to the previous quarter where we experienced a two-month suspension of mine operations, resulting in the processing of low-grade stockpiled ore. Our grades and recoveries have returned to normal levels as we produced 2,268 Equivalent ounces of gold, compared to only 1,466 in the previous quarter. We expect results to improve over the next quarters, due to mining of oxide ore coupled with the expected recovery of gold and silver from the carbonaceous ore which is completing testing, amounting to expected reserves of an additional 1 million tonnes with an average grade of 3.1 grams of gold and 20 grams of silver per tonne.
"We are excited with the return to full operations and with the addition of the carbonaceous ore which will begin in the next quarter." stated Salvador Garcia, the Company's Chief Operating Officer. "These developments represent an increased mine life and open the landscape to continue exploring the great potential we have at San Martin."
| | | | | | | | 3 Month YTD | | | | | |||||
| San Martin Production | Q3 2025 | Q2 2025 | | Q/Q Change | | | 2025 | | | 2024 | | | Y/Y Change | | ||
| Ore Milled (Tonnes) | 46,730 | 48,248 | | -3% | | | 144,482 | | | 168,454 | | | -14% | | ||
| Gold Equivalent Ounces | 2,268 | 1,466 | | 55% | | | 6,574 | | | 6,852 | | | -4% | | ||
| Gold Grade (Grams/Ton) | 1.74 | 1.10 | | 58% | | | 1.59 | | | 1.37 | | | 16% | | ||
| Silver Grade (Grams/Ton) | 11.08 | 9.81 | | 13 % | | | 13.72 | | | 14.56 | | | -6% | | ||
| Gold Recovery (%) | 82.44 | 80.25 | | 3% | | | 83.09 | | | 86.27 | | | -4% | | ||
| Silver Recovery (%) | 49.10 | 49.16 | | -0% | | | 53.02 | | | 48.28 | | | 10% | | ||
| Gold: Silver Ratio | 87.30 | 85.16 | |
| | | 82.62 | | | 83.80 | | |
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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.