Vancouver, B.C. - Starcore International Mines Ltd. (the “Company”) announces production results for the 2014 first quarter ended October 31, 2013, at its San Martin Mine in Queretaro, Mexico.
Over the 3 months of production we milled 76,958 tonnes of ore at an average grade of 2.88 g/t gold and 27 g/t silver resulting in the production of 6,920 gold equivalent ounces. This represents an increase in production of 605 equivalent ounces from the previous quarter.
Mill recoveries improved from last quarter and averaged 88.27% for gold and 56.50% for silver during Q1. Silver recoveries returned to the typical rates during the quarter, and the improved gold recovery was in part due to the higher head grades than in previous quarters.
The quarter was characterized by all 3 months returning monthly production records near or above 2,200 gold equivalent ounces, including October production totaling 2,435 gold equivalent ounces.
“I am extremely pleased with the first quarter results, and the combined efforts of our production team and corporate teams which made it happen. The production results in the first quarter of fiscal 2014 show that the results from the previous quarter were not an anomaly. Positive cash flows from mine operations continue every month despite the soft price of gold and tumultuous market conditions.” said Robert Eadie, President & 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.
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, Executive Chairman, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-602-4935
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
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