IMPACT Silver Corp.
TSX VENTURE : IPT

IMPACT Silver Corp.

February 18, 2014 06:00 ET

IMPACT Silver Drills More High Grade Gold and Silver at the San Juan Project, Also Finds Two New Silver Subdistricts in Zacualpan, Mexico

San Juan drill intersections include 10.343 g/t gold over 3.19 meters and 1,218.1 g/t silver over 1.17 meters

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 18, 2014) - IMPACT Silver Corp. (TSX VENTURE:IPT) ("IMPACT" or "the Company") is pleased to announce results from the next seven drill holes at its San Juan Project, located adjacent to the producing Noche Buena Mine. The Company is also pleased to announce initial field results from the new La Soledad and Pregones silver subdistricts located in the southeastern portion of its 623-square-kilometer concession holdings in the Royal Mines of Zacualpan area.

San Juan Project Drilling Highlights

This area of current drilling is testing the sub-parallel Noche Buena and Carlos Pacheco structures which outcrop 170 meters apart and dip to the west. IMPACT is currently mining silver mineralization at its Noche Buena Mine, which is trucked east to the Guadalupe Production Centre, and has begun mining and stockpiling gold and copper mineralization from the nearby Carlos Pacheco Vein in preparation for processing in the Capire Production Centre to the south. The drill intersections in this News Release will be added to expand the mining plans for both gold and silver zones. A number of other recently discovered structures, such as the Tiburón and Angel Veins, also occur in close proximity to the Noche Buena Vein.

Highlights from previous San Juan Project drill results include intersections of 17.1 g/t gold over 1.89 meters from the Carlos Pacheco Vein and 1,409.8 g/t silver over 2.07 meters from the Noche Buena Vein (see IMPACT news release dated October 30, 2013), as well as 3.44 g/t gold over 7.17 meters from the Carlos Pacheco Vein and 1,587.8 g/t silver over 1.72 meters from the Noche Buena Vein (see IMPACT news release dated January 7, 2014).

Highlights from these new San Juan Project drill results (see table below) include:

  • Additional high gold grades for the Carlos Pacheco Vein of 10.343 g/t gold and 276.9 g/t silver over 3.19 meters, which includes a higher grade interval of 19.757 g/t gold and 502.6 g/t silver over 1.50 meters encountered in hole Z13-71, and 2.963 g/t gold over 3.38 meters in hole Z13-74.
  • Wide intersections of silver mineralization for the Noche Buena Vein such as 14.40 meters grading 104.0 g/t silver in hole Z13-73 including a higher grade interval of 314.5 g/t silver over 1.47 meters.
  • Significant intersections for the Tiburón Breccia which include 232.9 g/t silver over 2.11 meters in hole Z13-69.
SAN JUAN SIGNIFICANT INTERSECTIONS - THIRD PHASE DRILL PROGRAM
HOLE
NUMBER
DRILL
SECTION
VEIN
NAME
FROM
meters
TO
meters
INTERVAL
meters
TRUE
WIDTH
meters
SILVER
g/t
GOLD
g/t
LEAD
%
ZINC
%
COPPER
%
Z13-68 L16+50N Angel 2.84 3.10 0.26 0.21 113.0 0.050 0.13 0.07 0.00
and L16+50N Carlos Pacheco 272.40 274.18 1.78 1.49 12.1 1.359 0.01 0.02 0.20
Z13-69 L17+00N Tiburón 45.00 47.44 2.44 2.11 232.9 0.634 0.06 0.20 0.02
which includes L17+00N Tiburón 45.00 46.46 1.46 1.26 367.6 0.891 0.06 0.18 0.02
and L17+00N Carlos Pacheco 240.20 241.85 1.65 1.32 10.2 0.676 0.06 3.87 0.04
and L17+00N Carlos Pacheco A 246.50 247.10 0.60 0.48 23.8 0.020 0.15 6.64 0.09
Z13-70 L16+00N Carlos Pacheco 132.70 135.93 3.23 3.12 27.8 1.146 0.32 1.47 0.06
which includes L16+00N Carlos Pacheco 132.70 134.35 1.65 1.59 23.1 1.676 0.56 2.53 0.09
Z13-71 L16+00N Carlos Pacheco 157.45 160.75 3.30 3.19 276.9 10.343 0.56 0.76 1.88
which includes L16+00N Carlos Pacheco 158.20 159.75 1.55 1.50 502.6 19.757 1.13 1.32 3.48
Z13-72 L16+00N New Vein 2 30.95 32.88 1.93 1.70 78.4 0.065 0.26 0.44 0.01
and L16+00N Carlos Pacheco 180.11 182.28 2.17 2.09 10.2 0.092 0.44 1.59 0.02
Z13-73 L16+00N Noche Buena 44.30 59.40 15.10 14.40 104.0 0.129 0.09 0.24 0.01
which includes L16+00N Noche Buena 45.67 47.21 1.54 1.47 314.5 0.249 0.30 0.93 0.02
and includes L16+00N Noche Buena 56.20 59.40 3.20 3.06 142.8 0.265 0.07 0.13 0.01
Z13-74 L15+50N Noche Buena 2 13.65 15.60 1.95 1.83 86.9 0.070 0.47 0.19 0.02
and L15+50N Noche Buena 1 18.90 20.70 1.80 1.69 94.3 0.053 0.03 0.08 0.01
and L15+50N Noche Buena 50.13 51.00 0.87 0.82 87.0 0.050 0.06 0.11 0.02
and L15+50N Carlos Pacheco 2 123.40 126.00 2.60 2.44 146.2 0.138 0.04 0.08 0.02
which includes L15+50N Carlos Pacheco 2 124.45 124.76 0.31 0.29 992.0 0.940 0.21 0.42 0.11
and L15+50N Carlos Pacheco 157.90 160.85 2.95 2.77 533.7 0.992 0.52 0.85 0.05
which includes L15+50N Carlos Pacheco 158.95 160.20 1.25 1.17 1,218.1 2.248 0.60 0.07 0.07
and L15+50N Carlos Pacheco 175.40 179.00 3.60 3.38 14.8 2.963 0.11 0.39 0.09
which includes L15+50N Carlos Pacheco 178.05 179.00 0.95 0.89 26.5 8.303 0.40 0.25 0.25

Future Plans for the San Juan Project Area

Additional assays are pending at the San Juan Project and additional drilling is planned. Because of the sub-parallel orientation of the Noche Buena and Carlos Pacheco Veins, IMPACT is able to intersect both veins in most drill holes, with the shallower Noche Buena and Tiburón structures being drilled at 25-meter centers and the deeper Carlos Pacheco Vein on 50-meter centers. The Tiburón and Delfín Breccias, plus the Abulón, Cangrejo, La Jaiba and Langostino Veins are also being drilled at 25-meter centers, which is helping with the interpretation and, where applicable, the integration of these intersections into the Company's mining plans. The Carlos Pacheco Vein remains open for expansion at depth and to the south where an increase in both the gold and copper grades has become evident.

Emergence of the La Soledad and Pregones Subdistricts

Since 2012, IMPACT's exploration team has been conducting preliminary investigations in the southeastern portion of its large concession holdings at Zacualpan. La Soledad and Pregones areas, located nine and fourteen kilometers southeast of the Guadalupe Production Centre, respectively, were selected for detailed geological mapping and rock sampling.

La Soledad Subdistrict

Work on La Soledad Area is more advanced, with the collection of over 1,800 rock samples from outcrops, trenches and some 350 old mine workings. Over 1,200 of these samples contain assays greater than 100 g/t silver with 21 having more than 1,000 g/t silver. La Soledad Vein, a prominent northeasterly dipping structure, has received the most work, having been delineated for a strike length 1.5 kilometers through the collection of some 800 rock samples. Defining the central core to this vein are seven rock samples containing values between 1,060 and 2,700 g/t silver. Several other structures occur in close proximity to La Soledad Vein, such as Doña Estela, El Diablo, El Tejón and El Comal, all of which contain significant silver grades as well.

Pregones Subdistrict

At the Pregones Area, where fieldwork began in September 2013, IMPACT has located 43 old mine workings, as well as five ancient processing plants. From nine of these old mine workings, 267 rock samples have been collected, 125 of which contain grades greater than 100 g/t silver and 21 are greater than 500 g/ silver. Many more old mine workings occur in the Pregones area as evidenced in a mining report dated 1908 indicating locations for 89 old mine workings and eight old processing plants. Historically, the Pregones or Precones District as it was called in the 18th century was an important center of past production, having the highest density of old processing plants for this portion of Mexico. For that reason, the Pregones District was historically considered to be on a par with Zacualpan and Taxco in terms of economic importance and was, coincidently, situated midway between them. The important veins of the Pregones District, such as the Poniente, La Negrilla and Águila dip primarily to the northeast, although some southwesterly dipping veins are known. At the historic La Negrilla Mine, rock samples containing significant silver values have been collected along the entire 162-meter length of this old mine drift.

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 Corp. operates two processing plants within its 100% owned 623-square-kilometer land package in south-central Mexico: the Guadalupe Production Centre and the 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 processing plant is being readied to process gold and copper mineralization from the Carlos Pacheco/San Juan Project. Additional information, including a drill hole location map for the San Juan Project, 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.

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