Starcore International Mines Ltd.
TSX : SAM

Starcore International Mines Ltd.

July 06, 2016 05:00 ET

Starcore Mines Ore from Drill Hole 31-79

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 6, 2016) - Starcore International Mines Ltd. (the "Company") (TSX:SAM) is pleased to announce that mining crews arrived at the 31-79 drill hole intersection at its San Martin Mine in Queretaro, Mexico.

The Company has confirmed the existence of the intersection in drill hole 31-79 reported in its news release dated May 11, 2016. Drifting along the drill hole defined a 2-meter thick segment of manto mineralization bounded by steep faults on the north and south and a horizontal fault above. Subsequent exploration in the area has defined a 3-meter thick piece of mineralization above the flat fault displaced roughly 15 meters to the east. See the map "Geology of area 5-181" on the company website www.starcore.com.

In May of 2016, 536 tons were mined from the west block with an average grade of 11.47 g/t Au and 76 g/t Ag. In June, the east (upper) block was explored by drifting and raising and through June 20th, a total of 986 tons have been produced at 8.92g/t Au and 67 g/t Ag. Geologists estimate that 1500 tons remain to be extracted from this zone at similar grades.

The assay results are the average of muck samples from the mine lab results. Sample results are balanced each month end with the doré bars produced in the plant.

Drill hole 31-92 was recently completed to test the small remaining segment between these blocks and the previously mined stope to the north. This hole has returned a 9.1-meter interval grading 50.7 g/t gold and 115 g/t silver. This hole appears to have located another of these fault bounded ore segments.

"This new area, although relatively small, gives us the opportunity to understand the nature of the mineralization in the northern part of the mine which was extracted prior to Starcore purchasing the mine. We expect this perception to aid us in our endeavours to expand reserves and resources to the north." said Robert Eadie, President and CEO of the Company.

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. Starcore is a public reporting issuer on the TSX. 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.

Robert Eadie, President & Chief Executive Officer

The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • EVAN EADIE
    Investor Relations
    (416) 640-1936
    Toll Free: 1-866-602-4935