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.
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 fiscal year.
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.
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.
Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE:
Telephone: (416) 640-1936
EVAN EADIE
Investor Relations
Telephone: (416) 640-1936
Toll Free: 1-866-602-4935
Neither the Toronto Stock Exchange nor its Regulation Services Provider (accepts responsibility for the adequacy or accuracy of this release.
Original Article: http://www.starcore.com/s/news-releases.asp?ReportID=719979
