IMPACT Silver Corp.

TSX VENTURE : IPT


IMPACT Silver Corp.

January 07, 2014 16:15 ET

IMPACT Silver Encounters More High Grade Silver and Gold Adjacent to its Noche Buena Mine in Zacualpan, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 7, 2014) - IMPACT Silver Corp. ("IMPACT") (TSX VENTURE:IPT) is pleased to announce second phase drill results from the San Juan Project, located 150 meters north of its producing Noche Buena Mine and four kilometers southwest of its 500-tpd ("tonne-per-day") Guadalupe Production Centre. The San Juan Project area encompasses a series of large old mine workings containing multiple working levels that previously exploited the gold-rich Carlos Pacheco Vein within the Valle de Oro sub-district of the Royal Mines of Zacualpan Silver-Gold District of central Mexico.

Previously, IMPACT reported drill intersections of 1,409.8 g/t silver over 2.07 meters from the Noche Buena Vein and 17.1 g/t gold over 1.89 meters from the Carlos Pacheco Vein (see IMPACT News Release dated October 30, 2013: http://www.impactsilver.com/s/NewsReleases.asp?ReportID=616146&_Type=News-Releases&_Title=IMPACT-Silver-Discovers-High-Grade-Gold-and-Silver-adjacent-to-its-Noche-Bu...). The Noche Buena and Carlos Pacheco Veins are parallel structures that outcrop approximately 170 meters apart, striking north-northwest and dipping to the west.

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

  • Additional high grades for silver in the Noche Buena Vein encountered in hole Z13-60: 1,587.8 g/t silver over 1.72 meters true width as well as significant intersections in holes Z13-62, Z13-64, Z13-65 and Z13-67.
  • Additional high grades for gold in the Carlos Pacheco Vein encountered in hole Z13-67: 3.439 g/t gold over 7.17 meters true width, which includes a higher grade interval of 39.20 g/t gold over 0.53 meters true width; other wide intersections of gold-silver-lead-zinc-copper mineralization for the Carlos Pacheco Vein were intersected in holes Z13-47 (3.08 m), Z13-48 (4.14 m), Z13-50 (3.81 m) and Z13-66 (5.11 m).
  • The discovery of a number of new silver-gold-lead-zinc structures such as the Tiburón and Delfin Breccias; the Cangrejo, La Jaiba and Langostino Veins, plus a significant extension to the Abulón Vein, all of which were encountered in the near-surface portions of drill holes intended to explore the deeper portions of the Carlos Pacheco Vein.
  • Significant intersections for the Tiburón Breccia include 179.4 g/t silver over 5.10 m true width in hole Z13-59 and 160.0 g/t silver over 3.62 m true width in hole Z13-67, with the Abulon Vein returning 105.8 g/t silver over 3.27 m true width in hole Z13-64 and 214.7 g/t silver over 2.29 m true width in hole Z13-65.
SAN JUAN SIGNIFICANT INTERSECTIONS - SECOND PHASE DRILL PROGRAM 2013
HOLE
NUMBER
DRILL
SECTION
VEIN NAME FROM
meters
TO
meters
INTERVAL
meters
TRUE
WIDTH
meters
SILVER
g/t
GOLD
g/t
LEAD
%
ZINC
%
COPPER
%
Z13-46 L18+00 N Carlos Pacheco Arriba 1 83.90 84.90 1.00 0.95 9.6 1.190 0.48 1.06 0.02
and L18+00 N Carlos Pacheco A 133.15 134.70 1.55 1.48 29.4 4.700 0.34 0.70 0.01
Z13-47 L18+00 N Vein Superior 2 124.60 127.83 3.23 3.08 22.9 0.170 0.81 2.53 0.06
including L18+00 N Vein Superior 2 124.60 125.05 0.45 0.43 89.0 0.480 1.19 10.35 0.35
and L18+00 N Vein Superior 1 132.65 134.50 1.85 1.76 63.2 0.920 0.07 0.31 0.84
and L18+00 N Carlos Pacheco 142.35 143.40 1.05 1.00 13.0 0.014 1.74 3.39 0.01
and L18+00 N Carlos Pacheco A 147.62 149.05 1.43 1.36 23.2 0.350 0.39 2.27 0.09
Z13-48 L18+00 N Carlos Pacheco 179.50 183.85 4.35 4.14 17.2 0.185 0.05 1.30 0.03
Z13-49 L17+00 N Noche Buena Abajo 1 46.40 48.05 1.65 1.57 188.7 0.150 0.03 0.08 0.01
and L17+00 N Noche Buena Abajo 3 57.15 58.70 1.55 1.48 97.8 0.054 0.03 0.05 0.02
Z13-50 L17+00 N Noche Buena Abajo 1 66.55 67.15 0.60 0.57 148.0 0.230 0.08 0.32 0.01
and L17+00 N Noche Buena Abajo 2 69.25 70.55 1.30 1.24 80.6 0.554 0.17 0.36 0.01
and L17+00 N Noche Buena Abajo 4 93.45 94.55 1.10 1.05 161.0 0.310 0.14 0.25 0.03
and L17+00 N Carlos Pacheco 180.44 184.40 3.96 3.81 69.8 1.287 0.96 4.24 0.24
Z13-52 L17+50 N Noche Buena 52.85 55.00 2.15 2.05 110.3 0.131 0.10 0.15 0.03
Z13-54 L17+50 N Carlos Pacheco Abajo 2 216.80 218.97 2.17 2.04 19.1 0.130 0.94 8.37 0.04
Z13-58 L17+25N Cangrejo 49.57 51.13 1.56 1.56 52.6 0.230 0.36 0.87 0.01
Z13-59 L17+25N Tiburón 17.70 22.80 5.10 5.10 179.4 0.193 0.04 0.04 0.01
Z13-60 L16+75N Noche Buena 16.15 28.35 12.20 12.01 300.5 0.256 0.06 0.19 0.01
including L16+75N Noche Buena 17.10 18.85 1.75 1.72 1,587.8 1.251 0.14 0.33 0.02
including L16+75N Noche Buena 23.00 27.00 4.00 3.93 148.4 0.178 0.09 0.20 0.01
Z13-62 L16+75N Noche Buena 65.60 67.35 1.75 1.51 415.7 1.007 0.21 0.48 0.01
including L16+75N Noche Buena 67.10 67.35 0.25 0.21 2,300.0 5.270 1.14 2.81 0.05
Z13-64 L15+50N Abulon 26.80 30.80 4.00 3.27 105.8 0.051 0.07 0.16 0.01
and L15+50N Noche Buena 55.10 56.30 1.20 0.96 183.3 0.092 0.06 0.10 0.01
and L15+50N Cangrejo 58.85 60.20 1.35 1.30 45.5 0.070 1.47 4.93 0.09
and L15+50N Noche Buena A 66.60 70.60 4.00 3.86 110.4 0.150 0.08 0.14 0.02
including L15+50N Noche Buena A 67.70 69.55 1.85 1.78 169.4 0.251 0.10 0.19 0.03
Z13-65 L15+50N Abulon 69.20 72.00 2.80 2.29 214.7 0.229 0.18 0.64 0.01
including L15+50N Abulon 69.55 70.50 0.95 0.78 581.9 0.617 0.47 1.77 0.02
and L15+50N Langostino 81.00 83.38 2.38 2.30 30.4 0.045 0.66 2.26 0.02
and L15+50N Cangrejo 96.00 97.40 1.40 1.21 93.9 0.210 0.45 0.66 0.01
Z13-66 L15+50N La Jaiba 24.17 25.35 1.18 1.02 239.0 0.070 0.04 0.03 0.02
and L15+50N Abulon 98.00 100.40 2.40 1.96 70.5 0.028 0.02 0.05 0.01
and L15+50N Noche Buena 102.00 107.30 5.30 5.11 18.0 2.072 0.08 0.63 0.03
including L15+50N Noche Buena 105.80 107.30 1.50 1.45 40.5 7.110 0.05 0.24 0.07
Z13-67 L16+50N Tiburón 24.15 28.15 4.00 3.62 160.0 0.447 0.46 1.27 0.02
including L16+50N Tiburón 27.00 28.15 1.15 1.04 506.0 1.100 0.95 2.70 0.04
and L16+50N Cangrejo 54.70 56.60 1.90 1.72 87.7 0.576 0.12 0.19 0.03
and L16+50N Carlos Pacheco 208.87 217.15 8.28 7.17 37.2 3.439 0.02 0.07 0.53
including L16+50N Carlos Pacheco 212.89 213.50 0.61 0.53 151.0 39.20 0.03 0.04 2.53

Future Plans for the San Juan Project Area

Mining operations at the Noche Buena Mine have recently been moving progressively northward and are now integrated with the San José underground workings, thus providing access to the Noche Buena Vein near the area of this current drilling. A crosscut decline has also been started to access the Carlos Pacheco Vein in this area.

Drilling is ongoing on the northern extensions of the Noche Buena and Carlos Pacheco Veins and because of the parallel orientation of these veins, IMPACT is able to intersect both Noche Buena and Carlos Pacheco in most drill holes; the shallower Noche Buena Vein is being drilled at 25-meter centers and the deeper Carlos Pacheco Vein at 50-meter centers. In addition, other structures are now contributing significant intersections within the immediate area of the San José underground workings near where the Noche Buena Vein is currently being exploited. 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 integration of these intersections into IMPACT's mining plans. The Carlos Pacheco Vein in this area remains open for expansion at depth and to the south where an increase in both gold and copper grades has become evident (see the Carlos Pacheco Drill Hole Long Section Map, available on the Map Room page on the Company website at www.IMPACTSilver.com).

Detailed mapping by IMPACT's exploration department, along with rock sampling, prospecting and surveying, continues to the north of the San José underground workings where all seven of the silver-gold-lead-zinc-copper bearing structures that are currently being drilled are known to extend. This work has resulted in the discovery of several important vein outcroppings, upon which additional drilling will likely follow once this field work is complete in order to outline additional mineralization in this newly discovered area.

IMPACT's Geographic Information System Database Surpasses 3,500 Old Mine Workings

Since 2004, IMPACT's exploration team has been constructing a state-of-the-art computerized Geographic Information System (GIS) database. One of the core features of this database is the location and documentation of old mine and exploration workings, which represent almost 500 years of mining history for the Zacualpan and Capire-Mamatla mining districts. In early 2013, IMPACT announced that 3,000 old workings had been documented (see IMPACT News Release dated January 21, 2013: http://www.impactsilver.com/s/NewsReleases.asp?ReportID=594681&_Type=News-Releases&_Title=A-Banner-Year-for-IMPACT-Silver-Corp.s-Exploration-in-2012). Today this figure totals over 3,500, representing a discovery rate of finding ten additional old mine workings per week by IMPACT's field crews.

The importance of finding these old mine workings is that many represent places of past production where high silver grades are often encountered. IMPACT's exploration team has now geologically mapped and sampled in detail 1,410 of these old workings and has chemical analyses for over 30,000 rock samples in its database. This data, coupled with other work by IMPACT's exploration department, is used to locate and prioritize areas for future drilling.

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 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 production in 2013. Additional information, including a drill hole location map and long section for the San Juan Project area, 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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