Vancouver, British Columbia--(Newsfile Corp. - December 3, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce further results from an ongoing drill program on the Tres Amigos Zone at its Plomosas zinc (-lead-silver) Mine in northern Mexico.
HIGHLIGHTS
Recent surface drill results tested extensions of the Tres Amigos Zone including:
Drill hole TASC-24-039 intersected a wide interval averaging 8.86% zinc, 2.65% lead and 12 g/t silver over 5.6m true width including a high-grade section grading 27.50% zinc, 3.43% lead and 19 g/t silver over 1.1 metres true width.
Drill hole TASC-24-040 intersected 16.60% zinc, 8.04% lead and 35 g/t silver over 2.5 metres true width.
Drill hole TASC-24-038 intersected 14.95% zinc, 0.72% lead and 16 g/t silver over 2.3 metres true width.
- The Tres Amigos Zone remains open for exploration and drilling is continuing.
Highlights of recent drilling at Tres Amigos are as follows:
| TABLE 1: PLOMOSAS DRILL RESULTS - TRES AMIGOS ZONE | |||||||
| Hole No. | From (metres) | To (metres) | Interval (metres) | Estimated True Width (metres) | Zinc (%) | Lead (%) | Silver (g/t) |
| TASC-24-037 | 197.40 | 197.70 | 0.30 | 0.2 | 9.21 | 9.21 | 22 |
| TASC-24-038 | 198.30 | 201.10 | 2.80 | 2.3 | 14.95 | 0.72 | 16 |
| And | 228.25 | 228.95 | 0.70 | 0.6 | 14.35 | 13.85 | 54 |
| TASC-24-039 | 205.20 | 212.60 | 7.40 | 5.6 | 8.86 | 2.65 | 12 |
| Including | 206.70 | 209.60 | 2.90 | 2.2 | 18.47 | 4.33 | 20 |
| Including | 206.70 | 208.10 | 1.40 | 1.1 | 27.50 | 3.43 | 19 |
| TASC-24-040 | 214.60 | 217.60 | 3.00 | 2.5 | 16.60 | 8.04 | 35 |
| And | 232.40 | 234.20 | 1.80 | 1.5 | 7.51 | 4.37 | 23 |
| TASC-24-042 | 206.80 | 207.28 | 0.48 | 0.3 | 11.25 | 7.36 | 30 |
| TASC-24-046 | 208.75 | 209.40 | 0.65 | 0.6 | 12.25 | 5.55 | 32 |
True width estimates are interpreted from current geological models. All these Tres Amigos area drill holes are beyond the current active mining area and lie outside the JORC mineral resource published by the previous operator (see IMPACT news release dated April 3, 2023 for details) except for TASC-24-37 which was an infill hole in the mine area. Other recent holes drilled on the extension of the Tres Amigos Zone mining area intersected low grades. Tres Amigos area mineralization remains open for exploration and drilling is continuing.
CEO STATEMENT
President and CEO Frederick Davidson commented, "We are pleased with these new high-grade drill intersections on extensions of the Tres Amigos Zone adding mineralization for ongoing mining. We now have two drills testing extensions of near mine targets and plans to carry out exploration drilling on other targets along the under-explored six kilometre trend next year. On the production side, we continue to ramp up operations with the aim to reach mill capacity in Q1/2025."
PLOMOSAS MINE GEOLOGY AND MINERALIZATION
The Plomosas mine, a historic high-grade zinc producer in northern Mexico (Figure 1), was acquired last year by the Company. Recent drill programs have been undertaken in the Tres Amigos area on extensions of active mine areas and nearby in the new Juarez Mine area. Mineralization at the Plomosas mine occurs as zinc-rich Carbonate Replacement zones along certain horizons of the local sedimentary rock sequence. Two main mineralized horizons have provided the bulk of historic production, the Mina Vieja (Tres Amigos) marble and the Juarez limestone, where structural ground preparation along these two units resulted in concentrations of zinc, lead and silver (Figure 2).
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.
- Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four producing underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million ozs silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 18 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 13 million ounces of silver, generating revenue of more than $277 million, with no long-term debt.
- Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company recently restarted mining operations and is ramping up production toward design capacity levels. Exploration potential at Plomosas is exceptional where only 10% of the 6 km-long structure have seen modern exploration. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material from surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Quality Control/Quality Assurance
Samples reported in this news release were analyzed by ALS Group, an internationally recognized analytical services provider. Samples analyzed by ALS used a multielement ICP package for base metals and silver. Assays for base metals >1% used an overlimit ICP method. Certified Reference Materials and internal control samples are added to the sample stream at regular intervals to track accuracy of assays.
Qualified Person and NI 43-101 Disclosure
Jose Antonio Olmedo, P.Geol., a Director of IMPACT Silver Corp and a "Qualified Person" within the meaning of NI 43-101, has approved the technical information in this news release.
Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on X (formerly Twitter) @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
O: (604) 681 0172 or inquiries@impactsilver.com
C: (778) 887 6489 Direct
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 regarding interpretation of drill results, activity at the projects and estimated timing thereof, the potential for defining and extending the known mineralization, exploration potential on the properties, and plans for drilling and future operations at the Company's projects or plans for financing.
Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitation, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, criminal activity, metal prices, political and economic factors, community relations, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, pandemics 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 or beliefs, opinions, projections or other factors, except as required by law.
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 at Zacualpan 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 mineral resources or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
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Vancouver, BC, Canada V6C 1X8
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Figure 1: Location map of Plomosas Mine and nearby mines and infrastructure. References to nearby projects are for information purposes only and there are no assurances that Plomosas will achieve similar results.
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Figure 2: Schematic cross section of Plomosas Mine geology and mineralization.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232308
SOURCE: IMPACT Silver Corp.
