VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2011) - Starcore International Mines Ltd. (TSX:SAM) (the "Company") is pleased to announce results from drilling west of the 29 area mantos at its San Martin Mine in Queretaro, Mexico.
The manto area of area 29 was mined for several years prior to the Company's purchase of the mine, producing roughly 250,000 tonnes of ore grading greater than 6 g/t gold. In the past 8 months, the Company has regained access to this area and has commenced exploration for extensions of the previously exploited orebodies. The 6 holes drilled in this area have all intersected ore grade mineralization which appears to be horizontal. The hole intersections are all located within a fault controlled area measuring 3,500 square meters. The Company is continuing to drill in this area and work is progressing to develop stopes on these intersections.
The following table summarizes recent drill results:
| Assay results | ||||||
| Mine Area | ddh ID | length (m) | True width (m) | Au g/t | Ag g/t | |
| DC29-206 | 2.00 | 1.95 | 2.47 | 12 | ||
| Area 29 | DC29-207 | 1.55 | 1.13 | 2.36 | 16 | |
| Western | DC29-210 | 9.55 | 4.63 | 5.4 | 125 | |
| Mantos | DC29-211 | 3.25 | 1.16 | 2.30 | 60 | |
| Extension | DC29-212 | 7.2 | 5.20 | 4.57 | 52 | |
| DC29-214 | 11.55 | 3.71 | 20.62 | 274 | ||
The assay results are the average of mine lab results with certified commercial lab results. True widths are based on the dip of the hole and the known dip of the structure in the mine. The locations of the various intersections above can be seen on the drill plan posted on www.starcore.com. Drilling is further south in this zone.
Following the discovery of the 29 manto extension, the first raise has been driven into the 29 manto extension with a total of six samples from the muck pile returning values which averaged 17 grams per tonne gold and 355 grams per tonne silver. The Company is now driving horizontal sub-levels to define the boundaries of this particular block of mineralization at its San Martin Mine in Queretaro, Mexico.
In addition to defining reserves, this development will provide above average mill feed.
"We are very optimistic that the pilotos area can provide some high grade ore that will help the mine maintain the good production which we have achieved in the first 5 months of this year," said Robert Eadie, Executive Chairman and CEO of the Company. "Although it is a relatively small tonnage this discovery is yet another example of how our exploration team is continuing to find new reserves."
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, Chairman
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
Contact Information:
Robert Eadie
Chairman
1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)
info@starcore.com
www.starcore.com