Vancouver, British Columbia – Starcore International Mines Ltd. (TSX:SAM) (“Starcore” or the “Company”) is pleased to announce that it has commenced drilling on its Toiyabe Project, located 10 kilometers south of the Cortez Hills Mine in northeastern Nevada. Reverse Circulation (RC) drilling began on May 24, 2016 and core drilling on June 20th, 2016. To date, six RC holes have been completed including two pre-collar holes for core drilling. The core rig is drilling its first hole. Total footage drilled to date is 1,482 meters. Geochemical results are pending.
The drilling program will target Pipeline/Cortez Hills/Gold Rush style gold mineralization associated with CSMT resistivity highs, extensions of deep gold intercepts on Section 900 North associated with the 805 Fault, extensions of the near surface resource associated with the Courtney A and B faults, and gold anomalies associated with surface sampling or historic drilling. Previous drilling of the 805 Fault included T-0902C which averaged 3.62 g/t over 9.0 meters true width from 267 to 282 meters. Included within this interval is 0.9 meters true width of 16.19 g/t. The 2016 program will consist of 5,486 meters of RC and 1,219 meters of core drilling in 23 holes.
All RC drilling samples are collected in 1.5-meter intervals, logged and securely shipped to ALS Chemex Labs Inc. in Reno, Nevada to be analyzed for gold and silver by fire assay. A second sample split is kept on site for possible re-testing or future metallurgy. Standards and blanks are included with the sample submittals and numerous repeat assays conducted. The core is logged, sample intervals marked on the core either in five-foot lengths or geologic/structural breaks, sawed and half core assayed the same as the RC procedure mentioned above.
Richard Kern, Certified Professional Geologist (#11494) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
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
Signed “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
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Forward Statement: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Starcore expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.