Starcore International Mines produced 2,008 gold equivalent ounces during the first fiscal quarter ended July 2026 at the San Martin Mine in Queretaro, Mexico, representing a 17% increase compared to the 1,722 ounces reported in the fourth quarter of fiscal 2026.

The latest figures reflect initial exploitation preparations at the newly discovered Manto ore deposit. Alongside this work, Starcore advanced an independent processing circuit for carbonaceous ore, utilizing crushing, grinding, carbon-in-leach, adsorption, desorption and recovery stages. The operation applies fresh, cyanide-free water during grinding, supported by a cyanide neutralization process for the ADR desorption solution. The carbonaceous circuit achieved a steady grinding rate of 100 tons per day this month, yielding grades of 2.62 grams per ton gold and 20.65 grams per ton silver, with recovery rates of 74.11% for gold and 68.58% for silver.

Overall milling across the operation reached 49,555 tons of ore during the quarter, generating a gold grade of 1.35 grams per ton and a silver grade of 14.70 grams per ton. Gold recovery averaged 85.49%, while silver recovery stood at 58.12%.

Following geophysical surveys covering the 13,000-hectare San Martin concession, Starcore received interpretations from the surveying contractors alongside an external consultant's reinterpretation. The company has defined new exploration targets and is tendering drilling contracts that combine reverse circulation and diamond drilling techniques.

“We are very excited about this new exploration phase, based on anomalies identified during geophysical surveys at the San Martín mine, as it offers the prospect of continuing mining operations for many more years”

— Salvador García, Director of Operations

Beyond the San Martin operations, Starcore maintains broader plans that include the permitting and mining of the La Tortilla silver mine project, also located in Queretaro.

Read the full announcement: STARCORE Reports First Quarter Production Results