STARCORE ANNOUNCES 3rd Quarter Production Results
Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail: [email protected] website: www.starcore.com
February 16, 2021 TSX: SAM
STARCORE ANNOUNCES
3rd Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) ( “Starcore” or “ the Company”)
announces production results for the third fiscal quarter ended January 31, 2021, at its San Martin Mine (“San
Martin”) in Queretaro, Mexico.
“More important than the improved results we show this quarter over the previous quarter, is the continuity
of the operational excellence programs which were implemented over a year ago that have resulted in better
control and optimization of cost s in all areas of the operation s, together with the reduction in management
salaries” states Salvador Garcia, Chief Operating Officer of the Company . “It is very important to continue
the exploration in the north west and eastern parts of the mine where we have found potential targets, identified
after a detailed study of structural geology, in order to maintain our resources. A 6,000 meter drill program has
been implemented and it is being matched with a development program of approximately 1,200 meters to cover
both zones under exploration. To date, the first holes drilled in both zones have concluded with positive results,
proving the continuity of the ore, leading us to begin preparations to exploit this ore quickly.” Mr. Garcia has
expressed his optimism to grow the reserves in the short term based on the initial results of the exploration in
these two zones of the mine.
San Martin Production Q3 2021 Q2 2021 Q/Q Change YTD 2021 YTD 2020 Y/Y Change
Ore Milled (Tonnes) 57,271 56,731 1% 173,101 173,234 -1%
Gold Equivalent Ounces 3,063 2,867 7% 9,194 10,187 -10%
Gold Grade (Grams/Ton) 1.66 1.60 4% 1.66 1.88 -12%
Silver Grade (Grams/Ton) 22.89 21.98 4% 24.74 32.17 -23%
Gold Recovery (%) 88.79 88.5 0 88.68 87.37 2%
Silver Recovery (%) 57.08 56.99 0 56.83 53.99 5%
Gold: Silver Ratio 74.21 75.05 82.48 86.79
Salvador Garcia, B. 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.
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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 203
Toll Free: 1-866-602-4935
Email: [email protected]
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.