Starcore International Mines Exploring Molybdenum and Precious Metals in Mexico

Vancouver-based mining company Starcore International Mines has expanded its exploration for molybdenum and other precious metals in Mexico. The company's holdings include a producing mine and exploration and development projects in Mexico.

Robert Eadie, Starcore's President and CEO, said, "Starcore owns a producing gold and silver mine, a large molybdenum-copper deposit, and newly acquired gold and silver claims, all located in mining-friendly jurisdictions. The company's flagship property is the San Martin gold-silver mine in Querétaro, located approximately 213 kilometers northwest of Mexico City."

For the three months ending July 2021, the underground mine produced 2,600 ounces of gold and 19,800 ounces of silver (2,900 gold equivalent ounces). It has a mine life of ten years and contains 1.65 million tonnes of proven and probable reserves containing 2.11 grams of gold per tonne and 33 grams of silver per tonne, equivalent to 154,382 gold ounces.

Eadie said, "The mine will continue to produce, generate significant cash flow and have considerable upside potential to unlock additional value for our shareholders. We now have $5.8 million in capital and strong working capital that we are deploying to acquire and explore new properties, as well as expand exploration at San Martin."

Starcore International Mines is focused on advancing its Opodepe project in north-central Sonora, about 95 kilometers northwest of Hermosillo. There are several copper and molybdenum mines in the state, including the Buena Vista del Cobre mine, one of the largest copper mines in the world, and the La Caridad molybdenum-copper mine, both of which are operated by Southern Copper.

The Opodepe project includes the 11,462 hectare El Creston project and the recently acquired Teocuitla gold and silver claims. These claims cover approximately 3,088 meters.

Exploration work to date at El Creston has included mapping, prospecting, geochemical and geophysical surveys, and subsurface development, including five trenches totaling 861 meters, and 241 core, and 18 reverse circulation holes totaling 51,049 meters and 4,995 meters, respectively.

The property is a 5.5 km long by 1.5 km wide northeast trend that hosts molybdenum, copper, and silver mineralization in the Creston Main-Red Hill deposit (El Creston deposit), Red Hill Deep, A-37, Red Hill West, Alejandra, and Copper zones.

“Although El Creston is a well-defined Mo deposit, it has never before been explored for precious metals," Eadie explained. “The newly acquired Teocuitla claims allow us to consider this project from three different perspectives: a large molybdenum deposit; a project with the potential for porphyry copper at depth; and, with the addition of claims, a grassroots exploration project with gold and silver deposits."

In 2021, Starcore International Mines extensively mapped the area covered by the new claims and collected 1,600 samples from outcrops in nine different vein systems identified on the property. Surface and stockpile samples returned mineralization in the range of 0.09-0.21 g/t Au and 147-241 g/t Ag.

The Company now plans to drill the high priority targets identified on the Teocuitla claims, which are scheduled to commence in the coming weeks. "In addition to drilling the newly signed claims, we are developing an updated geological model of the El Creston deposit with the primary objective of evaluating the potential for a deep porphyry copper orebody," Eadie said. Accepted for exploration for molybdenum Starcore also owns the Ajax property in British Columbia, which hosts the Ajax porphyry Mo deposit about 60 kilometers south of Stewart.

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