VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 19, 2014) - Starcore International Mines Ltd. (the "Company") (TSX:SAM) announces production results for the fiscal 2015 first quarter, ending October 31, 2014, at its San Martin Mine in Queretaro, Mexico. Production for the first fiscal quarter at the San Martin mine was 5,381 gold equivalent ounces using the realized gold:silver ratio of 67.6:1.
During Q1, a total of 78,635 tonnes were milled at an average grade of 2.36 g/t gold and 18 g/t silver resulting in the production of 4,998 gold ounces and 25,900 silver ounces.
Mill recoveries during the quarter averaged 83.9% for gold and 56.2% for silver.
"While we experienced lower than expected ore grade and recoveries in this last quarter, we fully expect to meet our annual projections for 2014," said Robert Eadie, President of the Company. "We are continually exploring new areas underground that we are confident will benefit our production. Starcore maintains its strong cash position, and San Martin not only has excellent exploration potential, but it is also a mine that has continued to deliver consistent production year in and year out."
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 43-101 and has prepared the technical information contained in this press release.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Robert Eadie, Executive Chairman, President & CEO
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.