Vancouver, B.C. – Starcore International Mines Ltd. (the “Company”) announces production results for the fiscal 2016 second quarter, ending January 31, 2016, at its San Martin Mine in Queretaro, Mexico.
During Q2, a total of 77,483 tonnes were milled at an average grade of 1.99 g/t gold and 21 g/t silver resulting in the production of 4,543 gold equivalent ounces. Mill recoveries averaged 84.2% for gold and 53.2% for silver. Equivalent gold ounce calculation is based on the average gold:silver ratio of 76.18 during the quarter.
The variation in production is consistent with the San Martin exploration and development model.The continuing devaluation of many currencies with respect to the US dollar including the Mexican Peso continues to aid the operation with lower production costs per tonne and ounce of gold produced.
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.
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. The Company is a public reporting issuer on the Toronto Stock Exchange. The Company is also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or developing these properties further.The Company 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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