STARCORE INTERNATIONAL MINES LTD 6-K, filed Feb 22, 2023
STARCORE INTERNATIONAL MINES LTD. (SHVLF)
About this 6-K
STARCORE INTERNATIONAL MINES LTD filed this 6-K on February 22, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2023
Commission File Number 000-50922
STARCORE INTERNATIONAL MINES LTD.
(Translation of registrant’s name into English)
Suite 750 – 580 Hornby Street, Vancouver, B.C., Canada V6C 3B6
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
EXHIBITS
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Exhibit No. |
Description |
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99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
STARCORE INTERNATIONAL MINES LTD.
Date: February 22, 2023
By:
/s/ Gary Arca
Gary Arca
Chief Financial Officer
February 22, 2023TSX: SAM
STARCORE ANNOUNCES
3rd Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”) announces production results for the second 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 YTDSan Martin Production Q3 2023Q2 2023Q/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
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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 43-101and has prepared the technical information contained in this press release.
Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail: investor@starcore.com website: www.starcore.com
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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.
(sgd.)“Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935 x 205
Email: readie@starcore.com
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.