|August 28, 2008|
Impact Silver Acquires New Concessions Increasing Mineral Holdings By 45%
|IMPACT Silver Corp. ("IMPACT" or "the Company") is pleased to announce that it has acquired several new mineral concessions at the Royal Mines of Zacualpan Silver Project in Mexico. IMPACT purchased the Cadena and Zapote concessions from private Mexican vendors and was granted the Zacualpan Northwest concessions directly from the Mexican government. These acquisitions have expanded IMPACT's mineral holdings in the Zacualpan-Mamatla Districts by 45% to 472 square kilometers and contain significant potential for new mine discoveries.|
The 112-hectare Cadena Concession is located 500 meters north of IMPACT's high grade Chivo Silver Mine and south of the Guadalupe Mine. The historic Golondrinas Mine is located on the concession and old maps indicate at least one significant silver shoot was partially mined there. The Cadena Mine, located on the northwestern part of the concession, was also a large historic producer. During preliminary examination of the concession, the Company's field crews sampled some of the other old Spanish workings on the concession and received significant assays, including a high grade grab sample at the old Higuere Shaft that assayed 501 g/t silver and a channel sample at the old Cardoso Mine adit entrance that assayed 176 g/t silver, 7.14% zinc and 3.53% lead across 0.5 meters true width. IMPACT geologists have traced extensions of known veins onto the concession, including the large San Antonio and Chontalpan Vein Systems. With its close proximity to active mining operations, IMPACT crews have already commenced a field program of mapping, soil sampling and rock sampling (underground and surface) at the Cadena concession in preparation for future drilling. The Cadena purchase also included four small concessions in the northern part of the Royal Mines of Zacualpan District which have not yet been examined.
The Zapote Concession is located 2.5 kilometers west of the Company's processing plant. It covers 161 hectares on the western extension of vein systems extending from the Guadalupe area where the Company is presently mining. Initial reconnaissance work at Zapote by the Company's geologists found several wide mineralized veins crossing the concession along with volcanogenic massive sulphide style mineralization. The concession is scheduled for a program of mapping and sampling.
ZACUALPAN NORTHWEST CONCESSIONS
The six Zacualpan Northwest concessions were granted directly by the Mexican government through normal staking procedures. They are located five kilometers northwest of IMPACT's operating Guadalupe processing plant and cover 140 square kilometers on the northwest extensions of the major vein systems from IMPACT's Royal Mines of Zacualpan Silver District. An exploration crew was immediately dispatched to carry out both a reconnaissance examination of this huge new exploration area as well as a preliminary sampling of mineral prospects, in anticipation of a detailed exploration program over the area. The crew has already found several old Spanish mine workings on their first excursions into the area. Significant results of this exploration work will be reported as they are received and interpreted. These concessions fill in the gap between the Royal Mines of Zacualpan Silver District and the smaller historic Sultepec Mining District of Peñoles.
Frederick W. Davidson, President and CEO of IMPACT Silver Corp., stated, "IMPACT already owns most of the Royal Mines of Zacualpan Silver District and these new acquisitions move us one step closer to complete consolidation of the District, as well as expansion beyond its traditional borders. This is the first time in the 480-year history of the District that the mineral rights have come under the control of one company. With 100% ownership of 472 square kilometers of contiguous mineral concessions, we can effectively explore and mine unhindered by intervening concession owners knowing that anything we discover and its extensions belongs to us. It is an enviable position that grants us a large degree of control over our destiny which we will continue to exploit to our maximum benefit."
George Gorzynski, P. Eng., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release. Channel samples were collected from cleaned rock faces over a continuous representative interval using a moil and hammer. All samples were securely stored at the IMPACT base camp until shipment. A total of 5% assay standards and 5% blanks were inserted into the sample shipment as a quality control measure. All samples were shipped to the ALS Chemex preparation laboratory in Guadalajara, Mexico, where they were fine crushed (70% passing a 2mm screen), pulverized (85% passing a 75 micron screen) and pulp split separated for assay by a riffle splitter. These pulps were shipped to the ALS Chemex laboratory in North Vancouver, Canada, where a 30 gram split of each was assayed for gold and silver by standard fire assay and a 10 gram split was analyzed for an additional 30 elements by ICP spectrometry.
IMPACT Silver Corp. is a profitable silver-focused mining and exploration company operating in Mexico with a producing silver operation at the Royal Mines of Zacualpan, the 200-square-kilometer advanced Mamatla Silver District and a portfolio of projects with an option on a producing mill at Zacatecas.
On behalf of the Directors of IMPACT Silver Corp.
"Frederick W. Davidson"
For further information, please contact:
Darrell Rader, Corporate Development
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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