IMPACT Silver Announces the Start of Drilling on the El Canelo Vein System at Santa Teresa project
IMPACT Silver Announces the Start of Drilling
on the El Canelo Vein System at Santa Teresa
project
Trading Symbol: "IPT: TSX.V"
VANCOUVER
,
Feb. 19, 2019
/CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is
pleased to announce that diamond drilling has commenced on the El Canelo gold silver vein in the
Santa Teresa
area. Trench sampling along the strike of the vein at
10m
intervals returned an
average gold grade of 6.5 g/t over a true width of
1.66m
and a length of
50m
(News Release Dated
25 Sept. 2018
). The initial six hole program will test the vein system along strike and to a down dip
depth of
100m
at
50m
intervals.
"This small initial program follows our successful 2018 sampling program and allows IMPACT to test
potential continuity of veins we first encountered over a decade ago at much lower gold prices.
Given the proximity of the project to IMPACT's operation mills, potential large enough tonnage of
gold and copper could warrant near-term production prospects."
The strong gold potential of the general area was first recognized by IMPACT geologists between
2008 and 2013 while drilling the Carlos Pacheco and
San Juan
areas 1.5km to the north which
yielded high grade gold drilling values including 19.6 g/t gold across 2.9 meters and 3.84 g/t gold
across 6.7 meters. It's plausible that Carlos Pacheco are probably northern extensions of the
Santa
Teresa
mineralizing system. Detailed results can be viewed from previous reports by IMPACT dated
December 4, 2008
;
July 11, 2012
;
October 30, 2013
;
January 7, 2014
):
Exploration programs are ongoing in the San Ramon Sur area to the south of the San Ramon mine
which on
July 17, 2018
, the IMPACT team announced a new zone discovery with drilling results of
2.04 meters of 661 g/t silver and 4.97 meters of 354 g/t silver. Lastly – exploration is ongoing also
at Manto America area located about 4km to the south of
Santa Teresa
.
About IMPACT Silver:
IMPACT Silver Corp. is a successful silver explorer-producer with two processing plants on adjacent
districts within its 100% owned mineral concessions covering 357km
2
in central
Mexico
with
excellent infrastructure and labor force. Over the past thirteen years over 8.5 Moz of Silver has been
produced, generating revenues of
$175 million
, with no long-term debt. In the historic
Royal Mines
of
Zacualpan Silver District three underground silver mines feed the central 535 TPD Guadalupe
processing plant. To the south, in the
Mamatla
District the Capire processing 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. Since acquiring the project, IMPACT has compiled an exhaustive database with over
5,000 old mine workings, assayed over 34,000 rock samples and over 54,000 drill core samples,
analysed over 50,000 soil samples, and put six mines into production. Additional information about
IMPACT and its operations can be found on the Company website at
www.IMPACTSilver.com
.
Qualified Person and NI 43-101 Disclosure
Wojtek Jakubowski
, P.Geo. is a "qualified person" within the meaning of NI 43-101 and has
reviewed, verified and approved the technical information disclosure contained in this press release.
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. 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 with respect to the
expected use of proceeds of the Private Placement.
Such forward-looking information involves known and unknown risks and assumptions, including with
respect 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 NI 43-101 the Company is required to disclose
that it has not based its production decisions on NI 43-101 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/February2019/19/c7263.html
%SEDAR: 00001640E
For further information:
Jerry Huang, CFO | Investor Relations, (604) 681 0172 or
CO: IMPACT Silver Corp.
CNW 11:37e 19-FEB-19