Northwire Canada EditionTuesday, July 28, 2026
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LUG 81.27 +2.4% ETG 2.65 +1.1% ARIC 0.860 +2.4% ABC 0.020 +0.0% WEC 0.010 +0.0% NTB 0.020 +0.0% URC 3.83 −8.2% BEX 0.085 +6.2% SUM 1.32 +0.0% FMN 0.270 +10.2% PHNM 0.405 +12.5% HDRO 1.11 −6.7% PWM 0.620 −1.6% LIO 0.155 +10.7% NTH 0.160 +1.6% ELEF 0.120 −4.0% LUG 81.27 +2.4% ETG 2.65 +1.1% ARIC 0.860 +2.4% ABC 0.020 +0.0% WEC 0.010 +0.0% NTB 0.020 +0.0% URC 3.83 −8.2% BEX 0.085 +6.2% SUM 1.32 +0.0% FMN 0.270 +10.2% PHNM 0.405 +12.5% HDRO 1.11 −6.7% PWM 0.620 −1.6% LIO 0.155 +10.7% NTH 0.160 +1.6% ELEF 0.120 −4.0%
Drill Results

Starcore Finalizes Silver Mine Lease

By The Northwire Desk — AI Analysis Oct 15, 2025 · 17:14 SAM · 0.6 Starcore International Mines Ltd.
SAM · Price

Executive Summary

  • Starcore International Mines finalized a ten‑year lease on the historic San Juan Nepomuceno (“Tortilla”) Project in Queretaro, Mexico for MX$5 million.
  • Initial drilling/intercept work identified high‑grade silver zones: Oxides Zone (424 g/t Ag) and Sulfide Zone (973 g/t Ag), with accompanying gold grades of 0.51 g/t and 0.43 g/t respectively.
  • Preliminary flotation metallurgical tests on sulfide samples returned strong recoveries (91.5% Ag, 48.3% Au), indicating the ore is treatable by conventional methods.

Key Details

  • Lease Terms:
  • Total consideration MX$5,000,000 (≈US$268,500).
  • MX$2,000,000 paid at signing; six monthly payments of MX$500,000 from Nov 9 2025 to Apr 9 2026.
  • Lessor entitled to a 2% Net Smelter Return (NSR) on production after lease payments are completed.

  • Lessor may sell all claims/concessions to Starcore for US$5 million within the lease term; NSR can be purchased by Starcore for US$2 million.

  • Project Location & History:

  • Historic silver mine (El Doctor) operated 1557‑1870; later briefly explored by O.J. Braniff in late 1800s.

  • Site lies ~150 km from Santiago de Queretaro, 40 km NE of San Martin Mining Unit, and 5 km W of La Negra Mine.

  • Exploration Results – Mineralized Zones:

  • Oxides Zone: Avg. 424 g/t Ag, 0.51 g/t Au; sampling width 1.45 m (gallery).
  • Sulfide Zone: Avg. 973 g/t Ag, 0.43 g/t Au; sampling width 2.80 m (gallery).

  • Grades increase with depth, suggesting greater potential at lower levels.

  • Metallurgical Testing:

  • Flotation of sulfide samples yielded 91.49% silver recovery and 48.25% gold recovery.

  • Management Comments:

  • “We are really excited about the potential and economic value of the Tortilla Project… we believe this investment will deliver significant returns for our shareholders.” – Robert Eadie, President & CEO.

  • Qualified Person: Salvador Garcia, B.Eng., Director & COO, qualified under NI 43‑101.

Notable Quotes

“If our technical and metallurgical analyses are confirmed, we believe this investment will deliver significant returns for our shareholders.” – Robert Eadie, President & CEO.

Read the original news release →

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