Starcore Produces 5,338 Gold Equivalent Ounces in 3rd Quarter
May 30 2014 - 10:43AM
Marketwired
Starcore Produces 5,338 Gold Equivalent Ounces in 3rd Quarter
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) -
Starcore International Mines Ltd. (the "Company") (TSX:SAM)
announces production results for the fiscal 2014 third quarter,
ending April 30, 2014, at its San Martin Mine in Queretaro, Mexico.
During the third quarter, the San Martin mine produced 5,338 gold
equivalent ounces.
The third quarter is typically our most difficult because it
covers a shorter time period than other quarters mainly due to
February being the shortest month of the year. The third quarter
also contains "Holy Easter Week" celebrations with vacations
impacting throughput at the mine, and this year the early arrival
of the rainy season caused some short unexpected grid power
interruptions.
Despite these issues, the mine produced 5,338 gold equivalent
ounces during the quarter representing an increase in production of
4% from the same quarter in the previous year. A total of 75,375
tonnes were milled during the quarter at an average grade of 2.34
g/t gold and 23 g/t silver. Mill recoveries averaged 86.3% for gold
and 51.4% for silver. Based on the metal prices during the quarter,
a gold silver equivalency factor of 64.2:1 was realized for
production.
"Although we were shy of our target for the quarter, the Company
continues to outperform the previous year's accomplishments," said
Robert Eadie, President of Starcore. "We will continue to improve
production as management remains steadfast in its commitment to
deliver shareholder value and enhance our asset base."
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 43-101and has prepared the technical
information contained in this press release.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Robert Eadie, Executive Chairman, President & CEO
The Toronto
Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.
Starcore International Mines Ltd.1-604-602-4935Toll Free:
1-866-602-49351-604-602-4936info@starcore.comwww.starcore.com
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