VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Starcore International Mines
Ltd. (TSX:SAM) (the “Company”) announces production results for the second quarter of fiscal 2018, ended October 31,
2017, at its San Martin Mine (“San Martin”) in Queretaro, Mexico and the Altiplano Gold Silver Processing Facility (“Altiplano”) in
Matehuala, Mexico.
During Q2 at San Martin, a total of 69,753 tonnes was milled at an average grade of 1.56 g/t gold and
13.6 g/t silver resulting in the production of 2,739 gold equivalent ounces. Mill recoveries averaged 80.9% for gold and 54.0%
for silver. Equivalent gold ounce calculation is based on the average gold:silver ratio of 75.6:1 during the quarter.
During Q2 the Altiplano Facility received approximately 137.25 tonnes of concentrate and 311 kg of precipitates
containing approximately 197 ounces of gold and 13,650 ounces of silver. During the quarter ended October 31, 2017, the Company
sold 94 ounces of gold and 20,280 ounces of silver.
“A mixed operating environment continued at the San Martin mine and Altiplano during Q2. Due to ore availability
at the mine, we saw a decline in grade and production numbers. At Altiplano, a management change led to efficiency issues in
filling the plant to capacity. Against this backdrop, we have implemented a strategy that addresses those issues, and with new
operating management onboard, we are confident that we will be able to optimize production levels in future quarters, reflecting
both the diversity and the strength of our team,” reported Robert Eadie, President of the Company.
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 43-101 and 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. Through its wholly-owned
subsidiary, Altiplano Goldsilver S.A. de C.V, Starcore also owns and operates the Altiplano concentrate processing facility for
precious metals in Matehuala, Mexico. Starcore is a public reporting issuer on the Toronto Stock Exchange. Starcore is
also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or
developing these properties further. Starcore has interests in properties located in Mexico, Canada and the United
States. For more information concerning Starcore, see documents filed under its profile on SEDAR, or visit its website 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
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of
this press release.
