VANCOUVER, British Columbia, July 19, 2018 (GLOBE NEWSWIRE) -- Starcore International Mines Ltd. (TSX:SAM) ("Starcore" or the "Company") is pleased to announce it has completed an updated Technical Report in accordance with National Instrument 43-101 ("NI 43-101") on its San Martin Gold mine in Querétaro, Mexico. The report has been filed on SEDAR and is also available on the company's website www.starcore.com. The highlights from the Technical Report are below:
Starcore International Mines, San Martin Mine Mineral Reserves and Resources | |||||
As of April 30,2018 | |||||
Category | Tonnes | Grade | Total Contained Oz | ||
Au g/t | Ag g/t | AuEq Oz | |||
Total Proven and Probable | 1,651,318 | 2.11 | 33 | 154,382 | |
Total Inferred + Indicated | 1,493,812 | 1.94 | 25 | 112,924 | |
Total Ounces Contained | 267,306 |
The total Mineral Reserves and Resources is 3,145,130 tonnes. Currently, budgeted mine production is approximately 300,000 tonnes per year.
The assumptions used to arrive at this mineral resource vary slightly from previous rules defined many years ago. In recent years, with the involvement of different and newly added professionals to the mine site operations, mining exploitation systems were changed due to:
Assumptions in making the reserve estimates are as follows:
Mr. Salvador Garcia, P. Eng., stated, "Many positive developments over the past year at San Martin are coming to fruition. Our planning and development, coupled with a focus on operational excellence, have opened new zones like Cuerpo 28 and San Jose 2. Our team has done an excellent job through the process and we look forward to continually transferring resources to reserves and finding new structures."
Erme Enriquez C.P.G., BSc, MSc., is an independent consultant to the Company. He is a qualified person on the project as required under NI 43-101 and has prepared the technical information contained in this press release.
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 and Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
EVAN EADIE
Investor Relations
Telephone: (604) 602-4935 ext. 230
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.
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