STARCORE INTERNATIONAL MINES LTD 6-K, filed Aug 24, 2022
STARCORE INTERNATIONAL MINES LTD. (SHVLF)
About this 6-K
STARCORE INTERNATIONAL MINES LTD filed this 6-K on August 24, 2022.
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 August 2022
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
|
Exhibit No. |
Description |
|
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: August 23, 2022
By:
/s/ Gary Arca
Gary Arca
Chief Financial Officer
August 15, 2022TSX: SAM
STARCORE ANNOUNCES
1st Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”) announces production results for the first 2023 fiscal quarter ended July 31, 2022, at its San Martin Mine (“San Martin”) in Queretaro, Mexico.
The production was very similar to the previous quarter (2022 - Q4) that confirmed the stability of the mine production and reflects the intensive exploration carried out this year. As a result, we are encouraged to continue increasing the investment in exploration as demonstrated by the $2 million exploration budget recently approved by the BOD of Starcore to be applied in exploration of the San Martin mine and other projects in Mexico, beginning next quarter.
At the San Martin Mine we have 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. We will also extend exploration to the eastern and western directions, looking for new areas with high probabilities of mineralization based on the new geological interpretations mapped out by our internal team of geologists and external consultants using more advanced tools at our disposal.
“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 Production |
Q1 2023 |
Q4 2022 |
Q/Q Change |
YTD 2023 |
YTD 2022 |
Y/Y Change |
|
|
|
|
|
|
|
|
|
Ore Milled (Tonnes) |
55,263 |
55,378 |
0% |
55,263 |
56,287 |
-2% |
|
Gold Equivalent Ounces |
2,925 |
2,900 |
1% |
2,925 |
2,895 |
1% |
|
Gold Grade (Grams/Ton) |
1.70 |
1.65 |
3% |
1.70 |
1.64 |
4% |
|
Silver Grade (Grams/Ton) |
21.29 |
27.15 |
-22% |
21.29 |
20.84 |
2% |
|
Gold Recovery (%) |
89.43 |
88.64 |
1% |
89.43 |
88.34 |
1% |
|
Silver Recovery (%) |
49.13 |
52.26 |
-6% |
49.13 |
52.11 |
-6% |
|
Gold: Silver Ratio |
85.98 |
78.23 |
|
85.98 |
68.55 |
|
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
- 2 -
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.
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Investor Relations
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.