Business
Starcore Announces 3rd Quarter Production Results
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Starcore International Mines...
About this update from Starcore International Mines Ltd.
[{"type":"text","content":"Starcore Announces 3rd Quarter Production ResultsVancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Starcore International Mines Ltd. (TSX: SAM) (\"Starcore\" or \"the Company\") announces production results for the third 2023 fiscal quarter ended January 31, 2023, at its San Martin Mine (\"San Martin\") in Queretaro, Mexico. The gold and silver grades have dropped in the last two quarters and we have taken measures to conserve resources and reduce costs. One such measure was to halt drilling exploration carried out by contractors while we complete the new geological model of the mine using past data accumulated. This process includes the participation of two external geologists with extensive experience worldwide in structural geology and modeling of geological orebodies, along with our own geology team. We expect the new geological model to be ready by the end of February which will define the exploration targets that we will use to continue underground exploration.Overall, we have applied cost reductions in all areas of mine and administration, including management, to compensate for lower production. \"In expectation of the decrease in production, we are reducing costs temporarily to return to our strategy of producing profitable ounces day by day,\" stated Salvador Garcia, Chief Operating Officer of the Company.    9 Month YTD  San Martin ProductionQ3 2023 Q2 2023 Q/Q Change 2023 2022 Y/Y Change Ore Milled (Tonnes)58,56257,165 2%170,990169,060 1%Gold Equivalent Ounces2,1822,452 -11%7,5598,265 -9%Gold Grade (Grams/Ton)1.291.46 -12%1.481.55 -5%Silver Grade (Grams/Ton)8.8512.83 -31%14.2021.62 -34%Gold Recovery (%)85.2487.14 -2%87.4388.08 -1%Silver Recovery (%)48.9547.86 2%48.7151.01 -5%Gold: Silver Ratio80.1388.46 85.37 73.78 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 43-101 and has prepared the technical information contained in this press release.About StarcoreStarcore 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 tha...