Starcore International Mines Ltd. (TSX: SAM, OTC: SHVLF) released the operational figures for its second fiscal quarter of 2027, ending on October 30, 2026, from the San Martin Mine located in Queretaro, Mexico. The company highlighted that the carbonaceous ore processing circuit was successfully optimized, allowing the operation to hit the planned throughput of 100 tons per day. This milestone was reached while preserving a consistent ore grade of 3 g/t gold and 20 g/t silver, delivering recovery rates of roughly 80 % for gold and 70 % for silver.
Quarter-end performance details
In the month that closed the quarter, the plant processed 2,564 dry tons of material, achieving an elevated concentrate grade of 4.82 g/t gold and 25.3 g/t silver. Recovery efficiencies improved slightly to 80.7 % for gold and 74.2 % for silver. These numbers translated into the production of 170 ounces of gold-equivalent metal during the period, with an additional 120 ounces of gold-equivalent still residing in-process and awaiting extraction.
Management outlook
Chief Operating Officer Salvador García expressed confidence in the trajectory of the operation, stating, “These actions and achievements give us great confidence that we will soon see improved results for our operation, company and our stakeholders.” García, a qualified person under NI 43-101, also confirmed that the technical data presented in the release complies with regulatory standards.
Equity incentive program
Alongside the operational update, Starcore announced an equity incentive program consisting of 7,900,000 incentive stock options. The options carry an exercise price of $0.30 per share and are exercisable over a five-year horizon. Half of the options become fully vested after four months and one day from the grant date, with the remaining tranche vesting on the first anniversary of the grant. The full series expires on November 13, 2031 and is subject to the requirements of the Toronto Stock Exchange.
Corporate context
Starcore positions itself as a precious-metals producer with a focus on Mexican assets. Its portfolio includes the operational San Martin gold mine and the permitted La Tortilla silver project, both situated in Queretaro. The firm emphasizes a commitment to corporate social responsibility and aims to generate long-term shareholder value through disciplined, value-driven decisions.
For further details, investors can visit the company’s website at . All forward-looking statements reflect management’s expectations as of the release date and are subject to risks and uncertainties that could cause actual results to differ materially.
