VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2011) -Starcore International Mines Ltd. (TSX:SAM) (the "Company") is pleased to announce results from development along the SAM vein at its San Martin Mine in Queretaro, Mexico.
The SAM vein, first discovered in late 2009 on levels 4 and 5 in the area 29 of the mine, has to date provided approximately 180 metres of strike length at grades between 3.43 g/t of gold and 20 g/t of silver, to 4.62 g/t of gold and 92.7 g/t of silver. Since September of 2010, the 6-090 stope has produced 13,850 tonnes with an average grade of 2.55 g/t gold and 36 g/t silver. The 6-096 stope has produced 15,400 metric tons from December 2010 to the end of March 2011, with average grades of 4.62 g/t gold and 92.7 g/t silver at an average width of 2.95 meters.
In both of these first 2 locations the structure coincided with shale and carbonaceous limestone lenses. In 2010 work continued on the SAM vein on level 6 where the structure was located slightly east of the vertical shale contact but with similar values. Since that time work has progressed to explore and develop the SAM structure along strike to the north on level 6. There are 4 distinct portions of the structure:
Drilling is continuing to the north and up dip where an additional 150 meters of strike length has yet to be tested prior to intersecting the area 30 limit fault (see the accompanying plan on www.starcore.com or http://media3.marketwire.com/docs/SAMplanMap.pdf). The SAM structure provides great optimism for the future due to the fact that the structure is fairly flat and at a different strike than most of the structures mined previously at San Martin. In addition the SAM structure hosts ore within carbonaceous limestone units which previous operators deemed to be unfavorable for developing ore. The orientation and location of the SAM vein indicates that additional ore may be located in both flat structures as well as structures in the previously unexplored carbonaceous units.
"In addition to being very helpful in maintaining the production levels we have seen in recent months, we are looking forward to seeing what this structure will do if it continues into areas 30 and 31," said Robert Eadie, Executive Chairman and CEO of the Company. "We are aggressively drilling this area and further news will be reported when it becomes available."
David Gunning, P.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.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Signed "Robert Eadie"
Robert Eadie, Executive Chairman & CEO
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
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