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  • Starcore International Mines (SAM) has announced production results for Q1, 2023 at its San Martin Mine in Queretaro, Mexico
  • The company recently approved a $2 million exploration budget to be applied to the exploration of the San Martin mine and other projects in Mexico
  • Starcore has committed an additional $1 million to the current exploration budget at the San Martin mine
  • Starcore is engaged in precious metals production, focusing on Mexico
  • Starcore International Mines Ltd. (SAM) opened trading at C$0.24 per share

Starcore International Mines (SAM) has announced production results for Q1, 2023 at its San Martin Mine in Queretaro, Mexico.

The production confirmed the stability of the mine production and reflected the intensive exploration carried out this year. The company recently approved a $2 million exploration budget to be applied to the exploration of the San Martin mine and other projects in Mexico, beginning next quarter.

At the San Martin Mine, Starcore has committed an additional $1 million to the current exploration budget, which will be applied in three different areas beyond budgeted exploration for this year, which is focused on finding the extension of the current mineralization. The additional exploration will be carried out with over 300 meters of diamond drill holes oriented toward the north zone following the trend of the high-grade mineralization mined over the past 30 years of San Martin operation. 

“This approach is all aligned with our strategy to produce profitable ounces day by day,” stated Salvador Garcia, Chief Operating Officer of the Company.

San Martin ProductionQ1 2023Q4 2022Q/Q ChangeYTD 2023YTD 2022Y/Y Change
Ore Milled (Tonnes)55,26355,3780%55,26356,287-2%
Gold Equivalent Ounces2,9252,9001%2,9252,8951%
Gold Grade (Grams/Ton)1.701.653%1.701.644%
Silver Grade (Grams/Ton)21.2927.15-22%21.2920.842%
Gold Recovery (%)89.4388.641%89.4388.341%
Silver Recovery (%)49.1352.26-6%49.1352.11-6%
Gold: Silver Ratio85.9878.2385.9868.55

Starcore is engaged in precious metals production, focusing on Mexico.  Some of its projects include San Martin, El Creston, and Toiyabe.

Starcore International Mines Ltd. (SAM) opened trading at C$0.24 per share.


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