Correction: IMPACT Silver Discovers High-Grade Gold and Silver adjacent to its Noche Buena Mine in Zacualpan, Mexico
Intersections Include 1,409.8 g/t Silver Over 2.07 Meters and 17.1 g/t Gold Over 1.89 Meters
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 30, 2013) - Marketwired would like to issue a correction for the release disseminated today at 18:08 ET. The letter "I" was omitted in error from the company name IMPACT Silver in the title.
Impact Silver Corp. (TSX VENTURE:IPT) ("IMPACT") is pleased to announce initial results from the first phase drill program on the San Juan Project located adjacent to the producing Noche Buena Mine. San Juan is located four kilometers southwest of IMPACT's 500-tonne-per-day ("tpd") Guadalupe Production Centre in the Royal Mines of Zacualpan Silver-Gold District in south-central Mexico.
The San Juan Project area encompasses a series of large old mine workings (San Juan, Santa Domingo and San Jose, among others) containing multiple working levels located 150 meters to the north of the Noche Buena Mine. The San Juan Mine was briefly mined in 1997 exploiting a 20,000-tonne stope grading 4 g/t gold and 50 g/t silver; the others were exploited in earlier years.
These old workings lie along the northern extension of the Carlos Pacheco Vein where previous drilling by IMPACT intersected high grade gold values including 19.6 g/t gold across 2.9 meters and 3.84 g/t gold across 6.7 meters (see IMPACT News Releases dated January 21, 2013, July 11, 2012, and December 4, 2008 for details). The northern parts of the Noche Buena Vein are now being mined using the access provided by the historic San Jose Adit. This current round of exploration drilling was centered around the San Jose Adit and was planned to define additional near-term mineral resources for the Noche Buena Mine. A drill hole location map for the San Juan Project area can be found on the Company website, www.IMPACTSilver.com, under Photo Gallery - Noche Buena Mining Camp.
Highlights from this first phase of drilling at San Juan (see table below) include:
- High silver grades for the Noche Buena Vein encountered in hole Z13-44: 1,409.8 g/t silver over 2.07 meters true width;
- High gold grades in the Carlos Pacheco Arriba Vein encountered in hole Z13-45: 9.35 g/t gold over 3.78 meters true width, which includes a higher grade interval of 17.10 g/t gold over 1.89 meters true width;
- Wide intersections of silver-lead-zinc mineralization for the Carlos Pacheco Vein located in holes Z13-39 (5.54 m), Z13-40 (6.63 m), Z13-42 (9.02 m), Z13-43 (6.63m), Z13-44 (4.03m), and Z13-45 (3.78m);
- The presence of numerous other vein intersections which may develop into more significant veins along strike or at depth.
This variety of metals in one area reflects the zoning found in veins of the district with silver-lead-zinc higher in the system to gold-copper lower in the system.
SAN JUAN SIGNIFICANT INTERSECTIONS - FIRST PHASE DRILL PROGRAM 2013
| HOLE | DRILL | VEIN | FROM | TO | INTERVAL | TRUE WIDTH | SILVER | GOLD | LEAD | ZINC | COPPER |
| NUMBER | SECTION | NAME | (m) | (m) | (m) | (m) | g/t | g/t | % | % | % |
| Z13-39 | L17+50 N | 111.00 | 112.65 | 1.65 | 1.55 | 159.6 | 0.098 | 0.65 | 0.84 | 0.01 | |
| and | L17+50 N | 117.30 | 117.65 | 0.35 | 0.27 | 632.0 | 1.180 | 0.05 | 0.07 | 0.02 | |
| and | L17+50 N | Carlos Pacheco | 122.00 | 128.40 | 6.40 | 5.54 | 26.4 | 0.301 | 1.69 | 4.73 | 0.19 |
| including | L17+50 N | Carlos Pacheco | 123.00 | 126.00 | 3.00 | 2.81 | 33.0 | 0.312 | 2.00 | 5.28 | 0.28 |
| Z13-40 | L17+50 N | 61.70 | 63.15 | 1.45 | 1.31 | 7.9 | 3.956 | 0.10 | 0.19 | 0.03 | |
| and | L17+50 N | 121.50 | 122.50 | 1.00 | 0.90 | 9.2 | 0.090 | 0.24 | 2.55 | 0.03 | |
| and | L17+50 N | Carlos Pacheco | 138.45 | 145.35 | 6.90 | 6.63 | 43.0 | 0.616 | 0.19 | 1.35 | 0.21 |
| including | L17+50 N | Carlos Pacheco | 138.45 | 141.45 | 3.00 | 2.89 | 55.5 | 0.830 | 0.24 | 1.65 | 0.33 |
| Z13-42 | L17+00 N | Carlos Pacheco | 119.30 | 128.60 | 9.30 | 9.02 | 21.3 | 3.894 | 0.98 | 3.28 | 0.11 |
| including | L17+00 N | Carlos Pacheco | 127.65 | 128.60 | 0.95 | 0.92 | 73.3 | 33.630 | 4.09 | 12.02 | 0.10 |
| and | L17+00 N | 295.45 | 296.25 | 0.80 | 0.77 | 26.3 | 0.160 | 1.55 | 5.01 | 0.02 | |
| Z13-43 | L16+50 N | Carlos Pacheco | 92.05 | 98.95 | 6.90 | 6.63 | 152.4 | 0.412 | 0.28 | 0.75 | 0.01 |
| including | L16+50 N | Carlos Pacheco | 94.95 | 95.60 | 0.65 | 0.53 | 275.0 | 0.124 | 0.04 | 0.08 | 0.01 |
| including | L16+50 N | Carlos Pacheco | 96.95 | 98.95 | 2.00 | 1.88 | 324.2 | 1.259 | 0.12 | 0.35 | 0.01 |
| and | L16+50 N | 125.25 | 125.80 | 0.55 | 0.50 | 35.5 | 0.673 | 2.62 | 7.93 | 0.02 | |
| and | L16+50 N | 240.63 | 240.90 | 0.27 | 0.23 | 118.0 | 1.730 | 0.02 | 0.04 | 1.85 | |
| Z13-44 | L17+00 N | Noche Buena | 11.60 | 14.00 | 2.40 | 2.07 | 1,409.8 | 0.963 | 0.29 | 0.34 | 0.03 |
| and | L17+00 N | 132.05 | 133.45 | 1.40 | 1.36 | 30.4 | 0.120 | 0.22 | 4.19 | 0.02 | |
| and | L17+00 N | 137.20 | 137.72 | 0.52 | 0.50 | 11.9 | 0.189 | 0.96 | 5.96 | 0.03 | |
| and | L17+00 N | Carlos Pacheco | 158.05 | 162.40 | 4.35 | 4.03 | 30.9 | 4.070 | 0.18 | 0.83 | 0.12 |
| including | L17+00 N | Carlos Pacheco | 158.05 | 160.00 | 1.95 | 1.89 | 59.9 | 7.666 | 0.12 | 0.322 | 0.20 |
| including | L17+00 N | Carlos Pacheco | 160.50 | 162.40 | 1.90 | 1.78 | 8.5 | 1.419 | 0.28 | 1.55 | 0.06 |
| and | L17+00 N | 164.52 | 164.85 | 0.33 | 0.32 | 90.7 | 0.080 | 2.91 | 7.54 | 1.60 | |
| Z13-45 | L16+50 N | 14.60 | 22.55 | 7.95 | 7.47 | 41.64 | 0.050 | 0.18 | 0.25 | 0.01 | |
| and | L16+50 N | Carlos Pacheco | 169.00 | 173.00 | 4.00 | 3.78 | 18.3 | 9.350 | 0.04 | 0.08 | 0.22 |
| including | L16+50 N | Carlos Pacheco | 169.00 | 170.00 | 1.00 | 0.95 | 37.26 | 2.379 | 0.08 | 0.19 | 0.62 |
| including | L16+50 N | Carlos Pacheco | 171.00 | 173.00 | 2.00 | 1.89 | 12.75 | 17.100 | 0.02 | 0.03 | 0.09 |
Future Plans for the San Juan Project Area
The high grade silver intersection for the Noche Buena Vein in drill hole Z13-44 was on the far northern projection of the vein where no previous work had been done. Consequently, IMPACT's exploration department initiated a program of detailed geological mapping along with rock sampling, prospecting and surveying in this area. Additional drilling is currently being carried out. Given the shallow depth of the intersection in Z13-44, this drilling consists of relatively short holes with intersections anticipated at 25 meter centres to better define the high grade zone. Additional step out drilling will then likely follow once the results of the next phase of drilling have been obtained as the Noche Buena Vein is known to extend at least 300 meters further to the north.
The high grade gold intersection of hole Z13-45 occurs 100 meters below the San Jose Adit. Three assay intervals consisting of 11.20 g/t gold over 0.90 meters, 44.20 g/t gold over 0.50 meters and 3.35 g/t gold over 0.60 meters make up this two-meter intersection of 17.10 g/t gold. Historically, other high grade intersections for gold have been encountered in drilling conducted in this area during the 1990s, and are especially prevalent below the San Jose workings. With this in mind, a program of deeper drilling beneath the San Jose workings will be initiated where the zone remains open for expansion.
The intersections for the Carlos Pacheco Vein encountered in holes Z13-39, 40, 42, 43, 44 and 45 currently represent a continuous zone that plunges to the south. IMPACT is currently awaiting the results for additional holes located on the northernmost drill section (L18+00N) and at depth. Once the results of these holes are interpreted and integrated into the database, additional drilling will be planned to expand and define this zone of relatively wide intersections of silver-lead-zinc mineralization.
Brian Hall, M.Sc., P .Geo., Nigel Hulme, P .Geo. and Wojtek Jakubowski, P.Geo., Qualified Persons under the meaning of Canadian National Instrument 43-101, are responsible for the technical content of this news release.
IMPACT Silver operates two silver production centres within its 100%-owned 623-km² land package in south-central Mexico: the Guadalupe Production Centre and the new Capire Production Centre. At Guadalupe, three underground silver mines feed the central 500-tpd processing plant located within the historic Royal Mines of Zacualpan Silver District. At Capire, the Company's first open-pit silver mine commenced initial pilot plant production at 200-tpd in early 2013. Additional information 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 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.
Contact
Impact Silver Corp.
Meghan Brush
Investor Relations
604 681-0172
604 681-6813
inquiries@impactsilver.com
www.IMPACTSilver.com