Trading Symbol: "IPT: TSX.V"
VANCOUVER , Sept. 12, 2017 /CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is pleased to announce results from the first drilling on the El Paso Vein located in the Royal Mines of Zacualpan Silver-Gold District of central Mexico .
Drill hole Z17-26 intersected 834 g/t silver over 3.38 meters (true width) including 1,448 g/t silver over 1.26 meters (true width) at the San Felipe prospect on the El Paso Vein. The zone remains open for expansion. IMPACT mining personnel plan to access the old San Felipe Mine workings to establish underground drill stations to continue testing the zone. The El Paso Vein is centrally located within the district, passes less than one kilometer from IMPACT's producing 535 tonne per day Guadalupe processing plant, and represents a potential near-term source of additional high-grade feed for the plant.
The El Paso Vein is one of a series of northwesterly striking, northeast dipping structures that transect the district. These classes of veins often have strike lengths of one to five kilometers and are host to a number of important past producing mines in the district such as La Cuchara, Chontalpan, Xitinga, Lipton , and Liptonia. The El Paso Vein has been traced in outcrop and underground workings for 2.1 kilometers from the El Paso adit in the north to San Felipe in the south with widths ranging up to thirteen meters as evidenced in the El Capulin adit.
The San Felipe encompasses a series of old underground workings that have been partially rehabilitated and explored by IMPACT's exploration team. Based upon archive maps, the main level working extends for one kilometer, with the central portion having three working levels, plus some small stopes. Several shafts providing ventilation and some smaller adits are also present. A number of high grade rock samples (1,120 – 1,280 g/t silver) have been collected from the San Felipe workings; however, the northern portion of these workings are not accessible. The aim of this current drill program is to test the El Paso Vein in the area of the old underground workings, with an emphasis on the northern, as of yet unexplored, portion of the El Paso Vein.
Drill hole Z17-26 intersected the El Paso Vein under the northern, unexplored portion of the main workings with a true width of 3.38 meters grading 834 g/t silver, 0.12g/t gold, 0.32% lead, and 0.57% zinc that included a higher-grade interval of 1,448 g/t silver, 0.14 g/t gold, 0.60% lead, 0.69% zinc over a true width of 1.26 meters. As well a new vein intersection was encountered in Z17-26, 110 meters below the El Paso Vein which contained 199.3 g/t silver over a drill core length of 1.3 meters. Currently both intersections for Z17-26 remain open to expansion to the north and in both the up and down dip directions.
Two additional drill holes (Z17-24 and 25) intersected grades of 122.1 and 113.5 g/t silver over widths of 1.4 and 1.6 meters respectively for the El Paso Vein in the southern portion of the San Felipe with hole Z17-24 containing an additional intersection of 239.6 g/t silver over a core length of 1.58 meters located 44 meters below the El Paso Vein.
The San Felipe has the potential to provide a near-term source of feed for IMPACT's nearby Guadalupe processing plant. Consequently, a decision has been made to have IMPACT's mining team construct better access into the San Felipe workings for underground drill stations to continue testing the El Paso Vein, but with shorter and more cost-effective drill holes.
Brian V. Hall , M.Sc., P.Geo. and Wojtek Jakubowski , P.Geo., Qualified Persons under the meaning of Canadian National Instrument 43‑101, have reviewed and approved the technical content of this news release.
About IMPACT Silver:
IMPACT Silver Corp. is a silver producer with two processing plants on two adjacent projects within its 100% owned mineral concessions covering 357km2 in central Mexico : the Guadalupe Production Centre and the Capire Processing Plant. At Guadalupe, three underground silver mines feed the central 535 tpd processing plant located within the historic Royal Mines of Zacualpan Silver District. At Capire, the 200 tpd processing plant and open pit silver mine are on care and maintenance waiting for a recovery in silver prices. Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
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. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, 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, 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.
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 and in the track record of mineral production and financial returns of the Company since 2006. Under NI43‑101 the Company is required to disclose that it has not based its production decisions on NI43‑101‑compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
SOURCE IMPACT Silver Corp.
View original content: http://www.newswire.ca/en/releases/archive/September2017/12/c6334.html