Drill Results
Starcore Announces Airborne MobileMT Geophysical Survey at San Martin Mine, Queretaro, Mexico
Starcore Explores Depth at San Martin Following Production Turnaround
Executive Summary
- Starcore International Mines Ltd. initiated an airborne Mobile Magnetotelluric (MobileMT) geophysical survey over its San Martin mining concessions in Querétaro, Mexico.
- The survey covers approximately 711 line-kilometres across a 99.13 square kilometre area with 150-metre line spacing.
- Data acquisition is expected to be completed within one week; final processed data products are anticipated within eight weeks following completion.
- Primary objectives include identifying deep structural features associated with known mineralization and delineating potential extensions of mineralized vein systems beneath cover.
- The survey targets a depth of investigation up to approximately 2 kilometres using an Airbus AS350 series helicopter platform.
- Qualified Person Dr. Riccardo Aquè, Ph.D. Eurogeol is overseeing the technical aspects of the program.
Material Impact
- The news represents routine exploration activity rather than a discovery announcement or financial result; therefore, immediate material price impact is limited.
- This follows strong Q3 2026 results (March 2026) where the company reported a return to full production and positive cash flow of over C$8.4 million.
- The survey confirms management's commitment to extending mine life at the core San Martin asset, aligning with previous guidance regarding high-grade extensions.
- While positive for long-term value, exploration surveys are standard operational updates that do not guarantee resource expansion or immediate production increases.
- The timing suggests a strategic push to generate new drilling targets before the next fiscal year planning cycle, indicating disciplined capital allocation.
SAM · Price
Company Overview
- Flagship Project: San Martin Mine in Querétaro State, Mexico, a low-sulfidation epithermal gold-silver system hosted in Upper Cretaceous carbonate sequences.
- Secondary Asset: La Tortilla Silver mine (San Juan Nepomuceno) leased for ten years with high-grade silver intercepts identified.
- Operational Status: Returned to full production in Q3 2026 after resolving preg-robbing issues and carbon fines interference in processing circuits.
- Production Metrics: Q3 2026 delivered 2,162 ounces gold equivalent with all-in sustaining costs of US$3,554 per ounce.
- Corporate Structure: Post-spin-out focus is exclusively on Mexican producing assets; African interests transferred to EU Gold Mining Inc.
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Jun 17, 2026 · 07:31