Vancouver, British Columbia--(Newsfile Corp. - November 17, 2020) - IMPACT Silver Corp. (TSXV: IPT) (OTC PINK: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce the commencement of a 900 meter trenching program on the Manto America gold target area of the Royal Mines of Zacualpan District, Mexico. IMPACT operates producing silver mines in the district but the centre of the district is marked by gold mineralization which includes the bulk tonnage Manto America target.
The Manto America area hosts the strongest gold-in-soil geochemical anomaly on IMPACT's claims and extends over an area 3.5 km E-W and 900m N-S. It is located 10 km south of the operating Guadalupe processing plant and 7 km north-northeast of the Capire processing plant. The area was mapped and sampled by IMPACT and to date 33 rock samples greater than 2.0gm/t Au have been collected from historic artisanal underground workings and surface showings with values up to 19.5 g/t gold over a true width of 1.2m ().
The 900m program will test an area of 450m by 300m with multiple trenches over the strongest gold-in-soil anomalies. This area contains 67 soil samples taken on a 50m by 25m grid that average 250ppb gold. Within this area two trenches excavated by a previous concession owner were sampled by IMPACT and returned 0.51 g/t gold over a width of 5.6m and a length of 23.5m, and 0.30g/t gold over a width of 5.5m and a length of 17.2m.
The Manto Americas gold project was mapped and sampled by a previous concession owner during the late 1990's when the gold price hovered below $400 US per ounce. Subsequent limited drilling data indicated elevated values but were not verified. IMPACT crews are outlining new areas and drill targets on this large gold-in-soil anomaly. A simplified map of Manto America is linked here:
The mineralization is hosted in strongly argillically altered volcanic rocks and is associated with elevated lead and barium suggesting a volcanogenic massive sulphide provenance similar to the Capire silver lead zinc deposit to the south (see IMPACT for details of NI 43-101 resources at Capire). IMPACT is exploring the Manto America area with the goal of defining a potential bulk tonnage gold mineralization asset.
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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 211km2 in central Mexico with excellent infrastructure and labor force. Over the past fifteen years, IMPACT has produced over 10.0 Moz of Silver, generating revenues of over $200 million, while incurring 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, currently on care and maintenance, is 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 ) that is being evaluated for restart of operations. Since acquiring the entire district, 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 .
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
For more information, please contact:
Jerry Huang
CFO | Investor Relations
Office: (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. 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.
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