Vancouver, BC - Starcore International Mines Ltd. (the "Company") announces production results at the company's San Martin mine in Queretaro, Mexico, for the first quarter of 2014, which is on 31. October 2013 came to an end, known.
Over the three months of production, 76.958 tonnes of ore grading 2,88 g / t gold and 27 g / t silver were treated, resulting in the production of 6.920 ounces of gold equivalent. This represents an increase in production of 605 ounces of gold equivalent compared to the previous quarter.
Recovery rates improved from the previous quarter, averaging 88,27% for gold and 56,50% for silver in the first quarter. The silver recovery rate returned to the typical levels during the quarter, while the improved gold recovery rate was partly due to higher maximum levels compared to previous quarters.
The quarter was characterized by three months of record monthly production close to or above 2.200 ounces of gold equivalent, including a total of 2.435 ounces of gold equivalent in October.
"I am extremely pleased with the results of the first quarter and the combined efforts of all local and corporate employees who made these record-breaking results possible. Production results for the first fiscal quarter 2014 show that the results of the previous quarter were no exception. Despite the weak gold price and turbulent market conditions, we continue to see positive cash flow from the mine every month, "said Robert Eadie, president and CEO of the company.
David Gunning (P.Eng.), A member of the Company's Board of Directors and Chief Operating Officer, is the Company's Qualified Person for the project as defined by NI 43-101 and has compiled the technical information contained in this news release.
FOR STARCORE INTERNATIONAL MINES LTD.
drawn: "Robert Eadie"
Robert Eadie - Executive Chairman, President and Chief Executive Officer
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