Trading Symbol: "IPT: TSX.V"
VANCOUVER, Jan. 8, 2018 /CNW/ - IMPACT Silver Corp.
("IMPACT" or the "Company") is pleased to provide an exploration
update on a new and developing gold target within the Royal Mines
of Zacualpan Silver District in central Mexico. Although work
will be continuing on the silver-gold veins that have provided five
centuries of historical production at the Zacualpan District, the work at Santa Teresa represents a new initiative for
IMPACT's exploration team to explore different sorts of mine making
targets.
Summary
As a result of technical interpretation
and additional field work, a new, possible bulk tonnage, gold
target named Santa Teresa is being
advanced by the IMPACT exploration team. Channel, chip and
grab samples of bedrock have returned grades ranging up to 114.5
g/t gold, with 17 samples having more than 10 g/t gold and 197
greater than 1 g/t gold. Additional rock sampling and
geological mapping has been initiated to designate drill
targets.
Santa Teresa is located in the
Valle de Oro sub-district of
dominantly gold veins located four kilometers southwest of IMPACT's
producing Guadalupe mill and
immediately to the south of IMPACT's past producing Nochebuena (silver) and Carlos Pacheco (gold) mines. To the
northeast is the large Coronas mine, one of the oldest and better
known past producers of the Zacualpan district.
Background
The Royal Mines of Zacualpan Silver
District of west-central Mexico is
arguably the oldest silver-gold mining district of Mexico. It is located 100 kilometers southwest
of Mexico City. IMPACT has a dominate land position of some
357 square kilometers and last year celebrated ten years of
continuous production in the district.
To date over a thousand silver and/or gold bearing veins have
been recognized through IMPACT'S exploration efforts in the
district (such veins having at least one assay sample exceeding 100
g/t silver or 1.0 g/t gold). As well some 5,000 old mine or
exploration workings have been located and catalogued.
These old workings, along with geological maps, geophysical
surveys, 75,000 soil samples and some 48,500 rock samples form the
basis of a GIS Database (Geographic Information System) that has
been utilized for the past ten years to "organically discover"
production tonnage for IMPACT's Guadalupe and Capire mills.
Geology
Numerous north-south striking veins
similar to the Nochebuena or
Carlos Pacheco veins transect the
Santa Teresa area. Elsewhere
in the Zacualpan district veins of
this orientation have the greatest degree of structural and grade
continuity, producing many of the district's better mines
historically. In addition, there are number of northeast trending,
northwest dipping veins that resemble the historic Coronas mine in
structural style. Rock sampling by IMPACT has produced gold grades
ranging up to 114.5 g/t, with 17 samples having more than 10.0 g/t,
and 197 greater than 1.0 g/t gold. In proximity to the
historic Coronas Mine some sizable old underground workings exist.
However elsewhere in the Santa
Teresa area there is little evidence of historical
exploration or mine development, which the low sulphide content of
these auriferous veins may have caused these veins to be overlooked
by the historical prospecting.
Roughly half of the veins hosting the better gold grades have
extremely low sulphide contents. Native gold or electrum would be
the most likely host minerals and would likely be amenable to
gravity concentration methods. These veins are most
abundant in the southwestern portion of the Santa Teresa area where the density of these
north-south striking veins is the highest of the entire
Zacualpan district. In
addition, this portion of the Santa
Teresa area contains the only known outcrops of an Eocene
Feldspar Porphyry within the Zacualpan district, which are the only known
magmatic intrusive rocks on the property. Fifty-two porphyry
outcrops have been mapped over a one kilometer square area with the
southern and western boundaries currently undefined.
Previously this rock type had been observed as clasts within the
gold-bearing portions of the Nochebuena-type hydrothermal breccias of the
Nochebuena and Carlos Pacheco mines. These Eocene
Feldspar Porphyries are thought to be similar to the Tilzapotla
Rhyolite, an enigmatic intrusive stock located midway between the
Taxco and Zacualpan Districts that
is considered to be the heat source responsible for the formation
of the Zacualpan Southeast and Taxco veins. It has been dated at 32
million years, the same age as a vein in the Taxco District, and by inference a similar age
has been assigned to the Zacualpan
veins. Associated with this Feldspar Porphyry are the highest
gold/silver ratios for the entire Zacualpan District, again suggesting an
environment of localized, very high heat flow with the Feldspar
Porphyry the heat engine for the formation of these gold veins.
Brecciation and silicification of the older host rocks
immediately surrounding this Feldspar Porphyry is a common feature,
suggesting the formation of a brecciated cupula similar the 5.0
Moz Kidston gold deposit of
Australia and a number of gold
deposits in Nevada. Rock samples
from this Feldspar Porphyry itself return very low values for
precious and base metals, however silicified and brecciated
portions of the host rock adjacent to and above this Feldspar
Porphyry have numerous high gold values (up to 17.95 g/t)
presenting a potentially very intriguing bulk tonnage exploration
target.
Future Plans
For 2018 in preparation for
drilling an extensive geological mapping and rock sampling program
will be conducted on the brecciated cap rocks overlying this
Feldspar Porphyry, as well as the many north-south trending veins
that transect the Santa Teresa
area.
Brian V. Hall, M.Sc., P.Geo., a
Qualified Person under the meaning of Canadian National Instrument
43‑101, has approved the technical content of this news release. A
map of the Santa Teresa area is
attached to this news release or can be found on the Company
website at www.IMPACTSilver.com.
About IMPACT Silver:
IMPACT Silver Corp. is successful
silver-gold explorer-producer with two processing plants on
adjacent districts within its 100% owned mineral concessions
covering 357km2 in central Mexico. Over the past ten years over 7.7 Moz
of Silver has been produced, generating revenues of $160 million, with 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
is currently rated at 200TPD, but is expandable. It is
adjacent to an open pit silver mine with a a NI-43-101 compliant
resource that is awaiting higher silver prices to be restarted.
Given the challenging markets last few years, IMPACT has focused
its exploration efforts on high success rate silver targets, with
quick production profiles and proximity to Guadalupe processing plant. Following a
successful decade of exploration success to production cash flows,
IMPACT has proven the Zacualpan
District to be prolific in generating high grade epithermal
silver-gold production feeds. With markets more perceptive to early
exploration results, in 2018 IMPACT continues to add emphasis to
exploration work. Additional information about IMPACT and its
operations 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 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. 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.
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 NI43‑101 the Company is required to disclose that
it has not based its production decisions on NI43‑101‑compliant
mineral resource or reserve estimates, preliminary economic
assessments or feasibility studies, and historically such projects
have increased uncertainty and risk of failure.
SOURCE IMPACT Silver Corp.
