NOT FOR DISTRIBUTION IN THE UNITED STATES
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) is pleased to report on the initial work undertaken at its Kimoukro Gold Project located in the West African country of Côte d’Ivoire (the “Kimoukro Project”).
The initial visit to the Kimoukro Project by Starcore’s exploration team aimed to verify the ground conditions and improve the map of existing mineworks in order to refine Starcore’s exploration program and strategy for the project. The reconnaissance confirmed the presence of at least 11 main veins (0.5 to 2 m thick), object of artisanal exploitation. New evidences of mineralization have been found in the southeast part of the permit. Overall, the vein system is recognized over a 1.5 km wide corridor, striking from outside the eastern border of the permit, to the Bandama river. The permit for the west side of the river covers an area that is largely unexplored.
Mineralization at Kimoukro occurs manly in NW-trending sheeted quartz which cross-cuts granodirite, microdiorite, and volcanoclastic meta-sediments. Fresh chip rock samples were collected from few accessible shafts and assayed with handheld XRF returning 7 to 22 g/t Au; one quartz vein sample crossing granodiorite returned an average value of 155 g/t Au. The showing and new findings enlarged the existing anomaly zone from surficial soil samples.
Samples from termite nests were collected in the part of the permit covered by alluvial deposits and sent for assay at the MSA labs in Yamassoukro, the capital of Côte d’Ivoire; assays returned with no significant values.
The artisanal mining activity within the Kimoukro permit remains fairly intense in the middle-north area, where some 80 people are washing soil and working veins on granitic rocks. A large settlement of artisanal miners is located at the East border of the permit and includes milling and washing facilities, other than trenches and shafts to mine mineralized veins.
The next phase of exploration at Kimoukro will include the following:
Geophysical survey to start as soon as possible.
Prepare lines: 44 lines, 100 m spaced, oriented N105o, total length of 52 km.
IP/Resistivity survey
Ground Magnetic survey
Preparation of access road and camp.
Transport of equipment to Kimoukro; build the camp facility.
Auger drilling (3000 m initial phase); trenching (2 phases: 600 m + 1000 m).
The initial program will be focused on geochemical sampling with auger drilling and trenching, with the geophysical survey being completed concurrently.
“We will commence building the camp and access road to be ready for drilling by mid-April so we can forge ahead and get as much work as we can before the rainy season,” said Robert Eadie, CEO of Starcore.
Area covered by the Kimoukro permit with the artisanal mining area delineated.
Qualified Person
The scientific and technical disclosure in this news release has been supervised and approved by Dr. Riccardo Aquè, Ph.D. Eurogeol., a Qualified Person as that term is defined in NI 43-101. He is independent of the Company.
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. While this base of producing assets is complemented by exploration and development projects throughout North America, Starcore has expanded its reach internationally, with its project in Côte d’Ivoire. 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 INTERNATIONALMINES LTD.
Signed “Robert Eadie” Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIETelephone: (604) 602-4935
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This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to the terms of the share exchange, the participation of certain insiders, future work plans, the use of funds, and the potential of the Company’s projects, are forward looking statements. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update forward‐looking statements or beliefs, opinions, projections or other factors, except as required by law.
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