IMPACT Silver Announces Concentrate Sales Partnership with Samsung C&T Corp.
IMPACT Silver Announces Concentrate Sales
Partnership with Samsung C&T Corp.
Trading Symbol: "IPT: TSX.V"
VANCOUVER
,
March 21, 2019
/CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is
pleased to announce it has entered into a concentrate sales contract with Samsung C&T Corp.
("Samsung") for off take from the Royal Mines of
Zacualpan
production in
Mexico
.
The first shipment of concentrate will start in
March 2019
, with a fixed schedule every two weeks for
12 months, shipping through the port of
Manzanillo, Mexico
. Based on current production of 400
tonnes per day, 2019-2020 sales of silver lead-zinc concentrate should top 800,000 ounces silver
with revenues over 95% attributable to pure silver (no equivalents).
Fred Davidson
, President & CEO of IMPACT stated, "We look forward to commencing a solid
relationship with Samsung, one of the most recognizable brands in the electronics and consumer
products world, and providing ethically sourced silver-lead-zinc concentrate which will go into the
hands of millions of customers and end-products around the globe."
In 2018, IMPACT began a renewed emphasis on greenfield exploration, with ongoing programs at
the
Santa Teresa
gold prospect and
El Paso
silver vein as well as Guadalupe Mine and
San Ramon
extensions. In 2018, the
Santa Teresa
area sampling program successfully trenched 6.5g/t gold over
a true width of 1.66 meters along a length of 50 meters
(see IMPACT news release dated
September 25, 2018
for details)
. In
February 2019
, IMPACT
commenced a small initial diamond drilling program at
El Canelo
veins system at
Santa Teresa
(see IMPACT news release dated
February 19, 2019
for details)
and results should be released in
the near-term. As a junior mining producer and explorer, IMPACT believes such new discoveries
can add considerable value to the Company's successful decade of production history at the Royal
Mines of
Zacualpan
.
George Gorzynski
, P.Eng., a Qualified Person under the meaning of Canadian National Instrument
43-101, approved the technical content regarding exploration work in this news release.
About Samsung
Samsung, founded in 1938 has since been engaged in various global businesses through offices in
over 50 countries, aiming to become a global business partner and lifestyle innovator through the
Engineering & Construction, Trading & Investment, Fashion and Resort Groups. Parent group
Samsung is a
$300 billion USD
a year revenue South Korean global multinational conglomerate best
known for its dominant presence in electronics, information technology, and consumer electronics.
Samsung has annual revenues of over U$30 billion with assets of over U$40 billion, and 13,000
employees worldwide.
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 357km2 in central
Mexico
with excellent infrastructure and labor force. Over the past thirteen years IMPACT has produced
over 9.4 million ounces of silver, generating revenues over
$175 million
, with no long-term debt. At
the Royal Mines of Zacualpan Silver District several underground silver mines feed the central
Guadalupe processing plant. To the south, in the
Mamatla
District the Capire processing pilot plant
is currently rated at 200 tpd but is expandable. It is adjacent to an open pit silver mine with a
National Instrument 43-101 ("NI 43-101") compliant resource of over 4.5
Moz Silver
, 48 million lbs
Zinc and 21 million lbs Lead (see IMPACT news release dated
January 18, 2016
) that is awaiting
higher silver prices to be restarted. Given the challenging markets the last few years, IMPACT has
focused its exploration efforts on high probability gold and silver targets, with potentially rapid
timelines to production and proximity to the Guadalupe processing plant. Following a decade of
exploration successes leading to production cash flows, IMPACT has shown the
Zacualpan
District
to be endowed with many high grade epithermal silver-gold zones. With markets more receptive to
early exploration results, in 2019 IMPACT continues to add emphasis to exploration work.
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/March2019/21/c6904.html
%SEDAR: 00001640E
For further information:
Jerry Huang, CFO | Investor Relations, (604) 681 0172 or
CO: IMPACT Silver Corp.
CNW 12:31e 21-MAR-19