Starcore International Mines Ltd.: Second Quarter Production for San Martin Mine Results in 6,068 Equivalent Gold Ounces
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/12/12 -- Starcore International Mines Ltd. (the 'Company') (TSX: SAM) is pleased to announce production results for the second quarter of the fiscal year at its San Martin Mine in Queretaro, Mexico.
The 3 months production, from November, 2011 through January, 2 012 saw 78,824 tonnes milled at an average head grade of 2.14 g/t gold and 35 g/t silver resulting in the production of 6,068 gold equivalent ounces. This production level meets the minimum target production of 2,000 equivalent ounces per month.
Second quarter production was the result of operating at an average mill throughput of 857 tons per day and achieving recoveries of 90.3% for gold and 74.2% for silver. These production figures show the improving performance of the mine when compared to the average production data in calendar year 2011 which was 813 tons per day and recoveries of 86.6% for gold and 71.8% for silver.
'Production results for the second quarter of fiscal 2011-2012 are particularly good considering the number of holidays associated with Christmas and the New Year,' said Robert Eadie, Chairman of the Company. 'We are becoming much more consistent in our production results due to our improving knowledge of the deposit and by the significant investment we have made to capital equipment.'
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 43-101 and has prepared the technical information contained in this press release.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Robert Eadie, Executive Chairman, Interim President and Chief Executive Officer
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
Contacts:
Starcore International Mines Ltd.
Robert Eadie, Executive Chairman,
Interim President and Chief Executive Officer
1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)
info@starcore.com
www.starcore.com