The San Martin Gold Mine

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Algemeen advies 16/05/2023 12:30
Our flagship asset is the San Martin gold mine located in Queretaro, Mexico on 5,569 Ha of wholly owned mineral rights.

Over 600,000 gold ounces produced.

The flagship property of Starcore International Mines is the San Martin gold and silver mine. The mine has been in operation since 1993 at 350tpd and currently operates at 650tpd. The mine was acquired by Starcore in February of 2008 from Goldcorp who had acquired the asset through the takeover of Wheaton River.

The mine is an underground epithermal deposit with gold quartz based limestone and has an average gold grade of 2.31 grams and 18 grams of silver (NI 43-101 2014 Dave Gunning, Joe Campbell).

The historical production of the mine is over half a million ounces and the company owns 100% of the mineral rights, which offers the upside of exploration and the possibility of discovering the source of the current mineralization.

Key Facts

Mining Method - Cut and fill/room and pillar
Backfill - Waste rock, shotcrete and rock bolting
Access - Tunnels and ramps some 300m to mill
Products - Gold, silver in a dore bar
Logistics - Dore bar shipped to Europe for refining
Mine life - 10 years+ after recent 43-101 (Sept 2019)
Claims - 5000 Ha in Queretaro, Mexico
Mineralization - Epithermal probably low sulphidation
Host rock - Limestone which leads to cost efficient mining
Processing - Conventional cyanide using Meryl Crowe
Power - Connected to national grid
Mill Capacity - 1100 tpd; Current approx. 650 tpd

Watch our Video about the San Martin Mine
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Best regards,

Investor Relation

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