Starcore International Mines (TSX:SAM) is focusing on the ‘higher grade’ extensions to increase metal production at the San Martin Mine in Mexico, after improving production during the third fiscal quarter ending in January 2026.
COO Salvador Garcia says that increasing metal production will return the highest profitability, which has always been the company’s guiding principle.
During the third quarter, Starcore achieved 52.609 tonnes of ore milled, producing 2,162 ounces of gold at 1.33 grams per tonne gold and 18.29g/t silver.
Gold recovery grades totalled 85.72%, while silver recovery totalled 46.37%.
As previously reported, San Martin produced 1,860 ounces of gold during the October 2025 quarter, at a mine operating cash cost of US$2,625 ($3,951) per equivalent-ounce and an all-in sustaining cost of US$3,537 per equivalent-ounce.
Starcore notes exploration carried out over the past six months extended the ‘high-grade’ ore bodies in the northern part of the current operation. Starcore has begun mining these new extensions which are grading 5g/t gold and 80g/t silver.
The company has also begun preparations for a new survey in the northern part of the concession where geophysical studies were conducted more than 15 years ago. The studies were sent for reinterpretation and based on the results obtained, a new study focusing on the most ‘significant’ anomalies will be carried out in the next quarter.
Over the past month, gold’s price has risen 5.20% and is up 67.73% compared to the same time last year. Meanwhile, silver’s price is up 126.73% higher than a year ago.
Starcore International Mines is engaged in precious metals production, focusing on its operations in Mexico. The company’s base of producing assets include the San Martin and La Tortilla mines located in Queretaro, Mexico.
Write to Aaliyah Rogan at Mining.com.au
Images: Starcore International Mines
