Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce further results from an ongoing drill program at the Tres Amigos Zone at its recently acquired Plomosas zinc (-lead-silver) mine in northern Mexico.
HIGHLIGHTS
- The Tres Amigos drill program continues to confirm the presence of high-grade mineralization in the area of the Plomosas Mine.
- Drill hole TASC-24-28 intersected a wide interval grading 10.22% zinc, 0.50% lead and 8 g/t silver over 8.6 metres including 14.67% zinc, 0.66% lead and 11 g/t silver over 5.5 metres and including 30.10% zinc, 0.86% lead and 14 g/t silver over 1.1 metres.
- Drill hole TASC-24-29 intersected 10.54% zinc, 5.48% lead and 19 g/t silver over 3.6 metres including 17.95% zinc, 10.16% lead and 32 g/t silver over 1.85 metres.
- Drill hole TASC-24-32 intersected a wide 11.7 metre interval averaging 4.16% zinc, 2.43% lead and 13 g/t silver including a very high-grade section grading 30.10% zinc, 18.05% lead and 84 g/t silver over 0.8 metres.
- The Tres Amigos Zone remains open for expansion and drilling is continuing.
- High priority targets have been identified for drilling elsewhere on the property.
| TABLE 1: PLOMOSAS DRILL RESULTS - TRES AMIGOS ZONE | ||||||
| Hole No. | From (metres) | To (metres) | Interval (metres) | Zinc (%) | Lead (%) | Silver (g/t) |
| TASC_24_027 | 231.00 | 235.90 | 4.90 | 6.19 | 2.66 | 21 |
| Including | 234.80 | 235.90 | 1.10 | 20.90 | 7.96 | 41 |
| TASC_24_028 | 247.80 | 256.40 | 8.60 | 10.22 | 0.50 | 8 |
| Including | 250.90 | 256.40 | 5.50 | 14.67 | 0.66 | 11 |
| Including | 252.40 | 255.00 | 2.60 | 23.61 | 0.79 | 15 |
| Including | 253.90 | 255.00 | 1.10 | 30.10 | 0.86 | 14 |
| TASC_24_029 | 247.10 | 250.70 | 3.60 | 10.54 | 5.48 | 19 |
| Including | 247.10 | 248.95 | 1.85 | 17.95 | 10.16 | 32 |
| TASC_24_030 | 279.70 | 281.20 | 1.50 | 7.98 | 0.05 | 5 |
| TASC_24_031 | 196.00 | 197.00 | 1.00 | 3.09 | 1.96 | 9 |
| TASC_24_032 | 220.8 | 232.5 | 11.70 | 4.16 | 2.43 | 13 |
| Including | 231.70 | 232.50 | 0.80 | 30.10 | 18.05 | 84 |
| TASC_24_033 | 90.90 | 92.35 | 1.45 | 6.93 | 0.91 | 7 |
Drilled intervals are interpreted to be approximate true widths. Other holes drilled on the eastern extension of the Tres Amigos Zone mining area intersected low grades.
CEO STATEMENT
President and CEO Frederick Davidson commented, "It is very encouraging that we continue to drill high grade intersections in the Tres Amigos Zone at the Plomosas Mine. These intersections are located close to current mine workings and represent near term high grade mineralization for mining once operations are fully underway. When the near mine drilling is completed, we will next move the drill to test high priority targets beyond the immediate mine area."
PLOMOSAS MINE GEOLOGY AND MINERALIZATION
The Plomosas mine, a historic high grade zinc producer in northern Mexico (Figure 1), was recently acquired by the Company which has undertaken a surface drill program in the Tres Amigos area of the mine and has conducted an underground sampling program in stopes of the Plomosas mine which were partially exploited by the previous operator. Mineralization at the Plomosas mine occurs as zinc-rich Carbonate Replacement zones along certain horizons of the local sedimentary rock sequence. Two main mineralized horizons have provided the bulk of historic production, the Mina Vieja marble and the Juarez limestone, where structural ground preparation along these two units resulted in concentrations of zinc, lead and silver (Figure 2).
The Company initiated an exploration drill program on the Juarez limestone in the Tres Amigos area to test mineralization near workings with known mineralization from historic work. Mineralization in the Juarez limestone generally forms pods of high-grade zinc and lead at and near the contact with an overlying shale, and drill results such as reported here indicate potential for a additional high grade mineralization in this area providing impetus for further exploration.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) is a successful producer-explorer with two mining projects in Mexico.
- Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where three underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016 for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations. Over the past 18 years, IMPACT has placed multiple zones into commercial production and produced nearly 13 million ounces of silver, generating revenues over $260 million, with no long-term debt.
- Plomosas Zinc-Lead-Silver District: IMPACT has begun preliminary mining and processing operations at its 100% owned Plomosas high-grade zinc mine in northern Mexico. Exploration upside potential is exceptional where only 600m of the 6 km-long structure have seen modern exploration. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material from surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Quality Control/Quality Assurance
Samples reported in this news release were analyzed by ALS Group, an internationally recognized analytical services provider. Samples analyzed by ALS used a multielement ICP package for silver and base metals. Assays for base metals >1% used an overlimit ICP method. For samples with >30% Zn a wet chemical method is used. Certified Reference Materials and internal control samples are added to the sample stream at regular intervals to track accuracy of assays.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., VP Exploration and a Director of IMPACT Silver Corp., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on X (formerly Twitter) @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
O: (604) 681 0172 or inquiries@impactsilver.com
C: (778) 887 6489 Direct
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding interpretation of drill results, activity at the projects and estimated timing thereof, the potential for defining and extending the known mineralization, exploration potential on the properties, and plans for drilling and future operations at the Company's projects or plans for financing.
Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitation, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, criminal activity, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, pandemics and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement or beliefs, opinions, projections or other factors, except as required by law.
The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company at Zacualpan and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101, the Company is required to disclose that it has not based its production decisions on NI 43-101 mineral resources or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
303-543 Granville Street Telephone 604 664-7707
Vancouver, BC, Canada V6C 1X8
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Figure 1: Location map of Plomosas Mine and nearby mines and infrastructure. References to nearby projects are for information purposes only and there are no assurances that Plomosas will achieve similar results.
To view an enhanced version of this graphic, please visit:
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Figure 2: Schematic cross section of Plomosas Mine mineralization.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205982