Starcore Reports Final 2023 Exploration Results at its Ajax Property, Golden Triangle Area, British Columbia
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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
April 29, 2024 TSX: SAM
FSE: V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
Starcore Reports Final 2023 Exploration Results at its Ajax Property,
Golden Triangle Area, British Columbia
Vancouver, B.C. - Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) reports
final assay results from the field component of the 2023 exploration program at the 100%-owned Ajax
Property located 12 km north of Alice Arm in northwestern B.C. at the southern end of the mineral belt known
as the “Golden Triangle”.
Mineralized quartz veins extend upslope approximately 800 metres in elevation above and peripheral to the
molybdenum porphyry mineralization. These veins were sampled during the 2023 field program and some
resampling of drill core from the 2005 - 2007 drill program also occurred. The drill core is stored in the
nearby community of Alice Arm.
Twenty-eight sites were sampled and ten assayed “over-limit”, above the detection limit for the analytical
method, in one or more elements. The over-limit samples were rerun at the Bureau Veritas laboratory in
Vancouver using an ore grade analytical method. Gold assayed up to 37.89 grams per tonne (see Table 1)
(37892 parts per billion PPB). The over-limit values for silver are reported in PPM (parts per million or
equivalent to grams per tonne) and other over-limit samples are reported in % per cent. Some veins assayed
with elevated tungsten, antimony and bismuth.
silver silver gold lead lead zinc zinc antimony bismuth tungsten tungsten
Sample PPB PPM PPB PPM % PPM % PPM PPM PPM %
2948927 413 5.8 3.86 122.2 0.42 0.25 <0.1
2948928 >100000 148 37892.7 2898.53 0.26 >10000.0 4.07 824.87 178.21 <0.1 <0.001
2948937 >100000 131 5969.4 7971.98 0.83 >10000.0 1.61 >2000.00 0.96 92.5 0.027
2948940 602 <2 8.6 13.04 <0.01 16.1 <0.01 18.46 0.28 >100.0 0.066
2948941 448 4.3 2.94 33.9 0.91 0.37 50.1
2948942 >100000 299 231.3 6631.94 0.65 3864 0.37 1081.65 611.99 >100.0 0.014
2948943 >100000 176 134.1 5011.56 0.51 380.3 0.04 323.45 414.8 >100.0 0.116
2948603 74764 39.2 1487.15 192.9 300.49 181.47 17.4
2948604 8217 3351.5 2316.71 3663.2 582.18 13.64 95.2
2948605 37186 21 979.44 226.7 39.53 74.76 9.5
2948606 77699 74 2077.8 >10000.00 2.45 >10000.0 2.29 >2000.00 153.71 12.1 <0.001
2948607 >100000 285 262.2 >10000.00 1.02 >10000.0 1.6 1336.77 689.95 >100.0 0.033
2948608 6744 6 36.1 47.21 <0.01 38.3 <0.01 11.98 7.04 7.8 <0.001
2948610 664 <2 2.3 3.91 <0.01 13.8 <0.01 0.47 0.7 >100.0 0.028
2948611 >100000 180 222.5 >10000.00 1.05 9153.4 0.9 268.52 390.82 4.5 <0.001
2948612 2176 2 6.7 25.88 <0.01 27.9 <0.01 2.34 2.41 >100.0 0.106
2948613 >100000 190 90.2 >10000.00 0.97 6857.3 0.69 218.62 399.64 2.6 <0.001
Table 1. Selected samples from 2023 Ajax exploration program
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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
The veins appear to have attracted early exploration to the property, beginning during the mid-1920’s, prior
to the discovery of the large molybdenum porphyry system. They present an attractive exploration target.
Field work planned for 2024 includes detailed mapping of the veins to determine the thicknesses, character
and continuity of the mineralized system. Underground workings developed on a vein system in the 1920’s
will be located and sampled and targets identified through Auracle Geospatial Science Inc.’s 2023 satellite
borne radar imaging study will be followed up.
The 1,718 hectares Ajax property was acquired by Starcore in 2015 through its purchase of Creston Moly Corp.
and its subsidiary , Tenajon Resources Corp. The property hosts the large Ajax molybdenum porphyry
developed prospect that has been tested by 48 drill holes, beginning in the mid 1960’s. The Ajax property is
located approximately 12 km to the south south-east of Dolly Varden Silver, 7 km south of Big Bulk, 17 km
east of Goliath Resources Golddigger/Surebet property. The Ajax property is located within 1 to 3 km of the
Triassic - Jurassic contact, termed the Red Line in this area, near which many of the Golden Triangle’s
mineralized systems occur.
Ian Webster P.Geo. is the Qualified Person, as defined by National Instrument 43 -101, who has reviewed
and approved the technical contents of this release.
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico.
While this base of producing assets has been complemented by exploration and development projects
throughout North America, Starcore has expanded its reach internationally with the recently acquired
project in Côte d’Ivoire. 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 th e
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:
ROBERT EADIE
Telephone: (604) 602-4935
The Toronto Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.
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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
This news release contains “forward-looking” statements and information (“forward-looking statements”). All
statements, other than statements of historical facts, included herein, including, without limitation, statements
relating to the terms of the share exchange, the participation of certain insiders, future work plans, the use of
funds, and the potential of the Company’s projects, are forward looking statements. Forward-looking statements
are based on the beliefs of Company management, as well as assump tions made by and information currently
available to Company management and reflect the beliefs, opinions, and projections on the date the statements
are made. Forward -looking statements involve various risks and uncertainties and accordingly, readers are
advised not to place undue reliance on forward -looking statements. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from those
anticipated in such statements. The Company assumes no obligation to update forward‐looking statements or
beliefs, opinions, projections or other factors, except as required by law.