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Highlights

  • 5,000 tonnes of stockpiled ore processed at 2.1 g/t gold and 26 g/t silver
  • Gold and silver recoveries reached 80% and 76% respectively in start-up phase
  • San Martín Mine producing 140 tonnes per day of carbonaceous ore under current ramp-up

Starcore International Mines Ltd. (TSX: SAM) has announced its production results for the fourth fiscal quarter ended April 2025 at its San Martín Mine, located in Querétaro, Mexico. The quarter marked a milestone for the company as it commissioned its new processing circuit, including an ADR (adsorption-desorption-recovery) plant, to treat carbonaceous ore.

During the start-up phase, the plant processed 5,000 tonnes of previously stockpiled ore with an average grade of 2.1 grams per tonne (g/t) of gold and 26 g/t of silver. Metallurgical performance aligned with expectations, yielding recovery rates of 80% for gold and 76% for silver. These figures resulted in the production of approximately 180 gold-equivalent ounces of doré.

In line with its operational plans, Starcore ramped up mining and development activities at the carbonaceous ore zones. Current production from these zones has reached 140 tonnes per day. A contractor has been engaged to support additional works aimed at sustaining and expanding operations.

Elsewhere in the mine, exploration and development have shifted to the southern sector of the San Martín deposit, specifically targeting deeper levels of the San José zone. This area is historically significant as it marked the origin of the mine’s open-pit operations three decades ago. Current work focuses on underground extensions in that same region.

While Starcore continues to maintain routine operations at San Martín, the integration of carbonaceous ore treatment marks a shift in resource utilization strategy. No financial guidance or forward-looking production figures were provided alongside the update.

Starcore’s portfolio includes additional development and exploration assets in North America, as well as an international project located in Côte d'Ivoire.