Starcore Announces 2nd Quarter Production Results
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2019) - Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or the "Company") announces production results for the second quarter of fiscal year 2019 / 2020, ended October 31, 2019, at its San Martin Mine ("San Martin") in Queretaro, Mexico.
"We are continuing with the plan to mill higher grade ore producing more profitable ounces and we believe we are on the right track. This last quarter has reflected all the measures taken to reduce costs and improve ore grade and we have shown a steady improvement each month. The number of meters developed in preparation and exploration continues to increase and it has contributed to the steady increase of production and reserves." reported Salvador Garcia, Chief Operating Officer of the company. "The focus continues to be moving inferred resources to the proven and probable category and improving operational culture at our principal asset, the San Martin mine."
| San Martin Production | Q2 2019 | Q1 2019 | Q/Q Change | YTD 2019 | YTD 2018 | Y/Y Change |
| Ore Milled(Tonnes) | 54,096 | 60,822 | -11% | 114,918 | 158,842 | -28% |
| Gold Equivalent Ounces | 3,050 | 3,711 | -18% | 6,761 | 8,317 | -19% |
| Gold Grade (Grams/Ton) | 1.78 | 2 | -11% | 1.90 | 1.45 | 31% |
| Silver Grade (Grams/Ton) | 34.19 | 32.40 | 6% | 33.35 | 46.12 | -28% |
| Gold Recovery (%) | 87.35 | 84.99 | 3% | 86.03 | 87.50 | -2% |
| Silver Recovery (%) | 52.27 | 58.33 | -10% | 55.4 | 59.10 | -6% |
| Gold: Silver Ratio | 84.81 | 89.11 | 86.89 | 80.32 |
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Signed "Robert Eadie"
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
EVAN EADIE
Investor Relations
Telephone: (604) 602-4935 x 230
Toll Free: 1-866-602-4935
Email: [email protected]
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