- Starcore International Mines (SAM) has announced production results for the second 2023 fiscal quarter at its San Martin Mine in Queretaro, Mexico
- The company reported a decrease in production from the previous quarter due to a decrease in silver grade and gold grades
- During the quarter, the company drilled an additional 3,547 meters with some positive values of gold and silver
- Starcore is engaged in precious metals production in Mexico
- Starcore International Mines Ltd. (SAM) opened trading at C$0.155
Starcore International Mines (SAM) has announced production results for the second 2023 fiscal quarter at its San Martin Mine in Queretaro, Mexico.
The company reported a decrease in production from the previous quarter due to a 40 per cent decrease in silver grade and a 14 per cent decrease in the gold grade.
During the quarter, the company drilled an additional 3,547 meters with some positive values of gold and silver. This exploration has focused on the extensions of the two main areas of the San Martin mine. Overall, the company has drilled 52 per cent more metres than in the previous quarter in San Martin.
“Since the company is focusing a large amount of its resources on exploration in order to further define the deposit, this may result in a decrease in production from time to time,” clarified Robert Eadie. “This does not reflect the current status of the mine.”
Salvador Garcia, Chief Operating Officer added,
“We expect the decreases in production that we are experiencing to be temporary, and our strategy of producing profitable ounces day by day is ongoing.”
| San Martin Production | Q2 2023 | Q1 2023 | Q/Q Change | YTD 2023 | YTD 2023 | Y/Y Change |
| Ore Milled (Tonnes) | 57,165 | 55,263 | 3% | 112,428 | 112,347 | 0% |
| Gold Equivalent Ounces | 2,452 | 2,925 | -16% | 5,377 | 5,676 | -5% |
| Gold Grade (Grams/Ton) | 1.46 | 1.70 | -14% | 1.58 | 1.60 | -1% |
| Silver Grade (Grams/Ton) | 12.83 | 21.29 | -40% | 16.99 | 21.87 | – 22% |
| Gold Recovery (%) | 87.14 | 89.43 | -3% | 88.36 | 88.08 | 0% |
| Silver Recovery (%) | 47.86 | 49.13 | -3% | 48.64 | 53.53 | -9% |
| Gold: Silver Ratio | 88.46 | 85,98 | 86.90 | 72.17 |
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$0.155.
