Starcore produces 2,162 ounces AuEq in fiscal Q3

Executive Summary

• Starcore International Mines Ltd. reported third-quarter production results for its San Martin mine in Mexico, noting a significant improvement in performance following the resolution of previous "preg-robbing" issues.
• The mine achieved normal expected recoveries for gold and experienced improved silver grades, allowing production to meet budgeted targets in the final two months of the quarter.
• The company has begun mining new high-grade orebody extensions in the northern part of the operation, which are grading approximately 5 g/t gold and 80 g/t silver.

Key Details

• Production Performance: Significant improvement in Q3 production due to the resolution of preg-robbing issues; mine reverted to normal expected recoveries for gold.
• Grade Improvements: Improved silver grades contributed to meeting budgeted production targets in the last two months of the quarter.
• New High-Grade Mining: Mining has commenced on new high-grade extensions in the northern part of the current operation.
• New Ore Grade Metrics: The new extensions are grading approximately 5 grams of gold per ton and 80 grams of silver per ton.
• Exploration Updates: Preparations have begun for a new geophysical survey in the northern concession area. This follows the reinterpretation of studies conducted over 15 years ago that revealed interesting anomalies.
• Future Plans: A new study focusing on the most significant anomalies from the reinterpretation will be carried out in the next quarter.

Notable Quotes

• "Now that the operation has stabilized, our goal is to focus on the higher-grade extensions to increase metal production, thereby returning the highest profitability, which has always been our guiding principle," stated Salvador Garcia, the company's chief operating officer.