IMPACT Silver Drills 2.69 meters of 5.27 g/t Gold (Eq) at El Canelo
IMPACT Silver Drills 2.69 meters of 5.27 g/t
Gold (Eq) at El Canelo
Trading Symbol: "IPT: TSX.V"
VANCOUVER
,
March 26, 2019
/CNW/ - IMPACT Silver Corp. ("IMPACT" or the "Company") is
pleased to announce the results of a diamond drilling program on the El Canelo gold silver vein in the
Santa Teresa
area of the Royal Mines of
Zacualpan
District, Mexico. Earlier reported trench
sampling along the strike of the vein at
10m
intervals returned an average gold grade of 6.5 g/t
across a true width of
1.66m
and a length of
50m
(see IMPACT news release dated
September 25
,
2018). The initial six hole program tested the vein system along a strike length of
100m
and to a
depth of
100m
at
50m
intervals.
El Canelo Drill Results
Hole ID
From (m)
To (m)
Interval (m)
True Width(m)
Au (g/t)
Ag (g/t)
Cu %
Au Eq (g/t)*
Z19-01
21.35
24.10
2.75
2.69
4.84
23.93
0.10
5.27
Z19-02
51.80
52.95
1.15
1.12
0.19
8.90
0.11
0.46
Z19-03
62.00
63.20
1.20
1.17
1.64
38.63
0.93
3.46
Z19-04
95.75
96.45
0.70
0.35
1.01
99.15
0.97
3.61
* Gold Equivalent (Au Eq) values were calculated using current metal prices of $1,313.40 per ounce gold, $15.41 per ounce silver and $2.84 per pound copper.
The targeted vein was intersected in all holes. Drill holes Z19-05 and -06 drilled on the south
extension did not intersect significant values. The zone remains open to the north and at depth.
El Canelo is located four kilometers southwest of IMPACT's Guadalupe processing plant. It is one of
many gold-silver-copper veins in the
Santa Teresa
area which also has potential for bulk tonnage
gold based on many widespread gold-silver-copper veins and alteration over an 800 hectare area
(see IMPACT news releases dated
January 8, 2018
,
September 25, 2018
and
January 23, 2019
for
details). The strong gold potential of the
Santa Teresa
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 gold values including 19.6 g/t gold across 2.9 meters and 3.84 g/t gold
across 6.7 meters. Details of those drill results can be viewed in IMPACT news releases dated
December 4, 2008
;
July 11, 2012
;
October 30, 2013
;
January 7, 2014
.
Other current exploration programs are targeting the Manto America and La Mora gold areas of the
large property where surface and underground samples have returned values up to 19.5g/t Au over
1.2m
within a soil geochemical anomaly measuring 2500 by
600m
in size.
Wojtek Jakubowski
, P.Geo. is a "Qualified Person" within the meaning of NI 43-101, and has
reviewed and approved the technical information contained in this press release.
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 IMPACT has produced over 9.4
Moz of Silver generating revenues of
$175 million
, with no long-term debt. In the historic Royal Mines
of
Zacualpan
District three underground silver mines feed the central Guadalupe processing plant.
To the south, in the
Mamatla
District the Capire processing plant is on standby but available to
process any new zones of mineralization. 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
for details) that is awaiting
higher silver prices to be restarted. Since acquiring the project, IMPACT has compiled an exhaustive
database at
Zacualpan
with over 5,000 old mine workings, assays for over 34,000 rock samples
and over 54,000 drill core samples, analyses for 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
.
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/March2019/26/c3218.html
%SEDAR: 00001640E
For further information:
Jerry Huang, CFO | Investor Relations, (604) 681 0172 or
CO: IMPACT Silver Corp.
CNW 09:00e 26-MAR-19