CORRECTION FROM SOURCE: IMPACT Silver Purchases Two Drills and Starts 10,000 Meter Drilling Program This document corrects and replaces in its entirety the press release that was issued by IMPACT Silver Corp. ("IMPACT" or the "Company), today
CORRECTION FROM SOURCE: IMPACT Silver
Purchases Two Drills and Starts 10,000 Meter
Drilling Program
This document corrects and replaces in its entirety the press release that was issued by IMPACT
Silver Corp. ("IMPACT" or the "Company), today, February 1, 2021 at 11:13 AM ET. The error
occurred in the headline where it should have read, "IMPACT Silver Purchases Two Drills and Starts
10,000 Meter Drilling Program” instead of "IMPACT Silver Starts Exploration Drilling Program of
10,000 Meters at Zacualpan.” Additionally, the Initial Press Release named George Gorzynski, P.Eng
as the Qualified Person when in fact, the Qualified Person is Wojtek Jakubowski, P.Geo.
The corrected press release follows in full below:
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2021) - IMPACT Silver Corp. (TSXV: IPT)
(OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "
Company)
is pleased to announce that it has
purchased two core drills to accelerate exploration drilling on the property and has started a 10,000
metre drill program.
The first new unit is a surface drill which has begun drilling in the Veta Negra Mine area. The second is
an underground drill which will soon begin underground exploration. The Company also owns an older
underground drill that will continue to outline zones for production. With three Company-owned dedicated
drills, IMPACT will be better able to efficiently and cost effectively drill test mining and exploration targets
without dependence on outside drill contractors in uncertain times.
The Company is currently drilling in the area of the
Veta Negra
open pit mine to test the mineralization to
depth and expand the known zone of mineralization to the north. To date five holes have been completed
by a Company-owned older model core drill. Assays are pending and drilling is now continuing with the
new surface drill.
The planned 10,000 metre drill program will test multiple other targets on both extensions of current
mining areas and initial drill testing of new exploration targets. Plans are to drill test extensions of zones
currently being mined including up-dip extensions of the
San Ramon Deeps Silver Mine,
northwest
extensions of the
Guadalupe Mine
and extensions of the Mine Grande Silver Mine area of the
Cuchara
Mine
complex. Planned exploration drilling will test the potential bulk tonnage
Manto America Gold
Target, La Renovacion Silver Vein Target, and the high grade
Alacran Silver
Vein Target among others.
Results will be published as they are received.
Wojtek Jakubowski, P.Geo., a Qualified Person under the meaning of Canadian National Instrument 43-
101, is responsible for the technical content of this news release.
ABOUT IMPACT SILVER
IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants on
adjacent districts within its 100% owned mineral concessions covering 211km2 in central Mexico with
excellent infrastructure and labor force. Over the past 15 years, IMPACT has produced over 10 million
ounces of silver, generating revenues over $202 million, with no long-term debt. At the Royal Mines of
Zacualpan Silver District, three underground silver mines and one open pit mine feed the central
Guadalupe processing plant. To the south, in the Mamatla District, the Capire processing pilot plant is
adjacent to an open pit silver mine with a 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); Company
engineers are reviewing Capire for restart of operations in light of current elevated silver prices. With 15
years of exploration successes leading to production cash flows, IMPACT has shown the Zacualpan
Silver-Gold District to be endowed with many high grade epithermal silver-gold zones.
Additional information about IMPACT and its operations can be found on the Company website at
www.IMPACTSilver.com
. Follow us on Twitter
@IMPACT_Silver
and LinkedIn at
https://www.linkedin.com/company/impactsilver
On behalf of IMPACT Silver Corp.
"
Frederick W. Davidson"
Frederick W. Davidson
President & CEO
For more information, please contact:
Jerry Huang
CFO & Investor Relations
(604) 664-7707 or
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/73327