|November 05, 2008|
IMPACT Silver Begins Drilling New Silver and Gold-Copper Targets at Royal Mines of Zacualpan Silver Project
|IMPACT Silver Corp. ("IMPACT") is pleased to announce the commencement of a 5,000 m first phase drill program for the Noche Buena-Carlos Pacheco Mining Camp, located within the Royal Mines of Zacualpan Silver District in central Mexico. A variety of both silver and gold-copper targets consisting of old mine workings, past drill intersections and outcropping veins will be tested in order to determine which targets warrant further drilling for mine planning purposes. Currently thirty to fifty holes are planned, which will take the remainder of 2008 to complete. Over one hundred different vein intersections have been targeted as multiple vein intersections are anticipated in most of the drill holes. |
The Noche Buena-Carlos Pacheco Mining Camp is one of several dozen ancient mining centers located within the extensive claim holdings of the Zacualpan Mining District (see IMPACT news release dated August 28, 2008). It is located approximately four kilometers southwest of IMPACT's Guadalupe processing plant. Old records suggest mining efforts in the camp began during the time of the Spanish in 1746. Larger scale mining commenced around 1900 only to be largely shut down by the Mexican revolution of 1910, with sporadic efforts thereafter.
Over the past year IMPACT field crews have systematically located, documented and sampled 114 old mine and exploration workings consisting of prospect pits, mine shafts and tunnels. Included in this program was detailed geological mapping of the veins and the collection of 563 rock samples for assay and analyses. Numerous rock samples contained values greater than 100 g/t silver, attaining a high of 775 g/t in the San Jose 3 Tunnel, and 47 other samples contained greater than 1.0 g/t gold, attaining a high of 39.9 g/t (1.16 opt) in the Carlos Pacheco Main Tunnel. Base metals can also contain significant values as individual samples attained the following assays 8.39% copper, 11.95% lead and 14.80% zinc.
Dominating the structure are two northerly trending veins (Noche Buena to the west, and Carlos Pacheco to the east) that have been traced for 1.7 and 2.6 km respectively and open for extension. In addition, approximately fifty smaller secondary vein structures are known. Due to the topography it has been possible to sample both these veins over a vertical extent of 500 m. In general the Carlos Pacheco vein has been found to be higher in gold and copper (especially at the lower elevations) and becoming more silver bearing at higher elevations. The Noche Buena vein overall tends to be higher in silver. Due to a slight difference in the dip these veins converge at higher elevations such that they are only 100 m apart. Consequently both veins can be effectively drill tested in the same drill holes.
Summarized below are some of the highlights from samplings of old mine workings and the principle targets that will be the subject of the Noche Buena - Carlos Pacheco drill program:
Brian Hall, P.Geo., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
IMPACT Silver Corp. is a silver focused mining and exploration company operating in Mexico with a producing silver operation including a 500tpd mill at the 272 km2 Royal Mines of Zacualpan District, the 200km2 advanced Mamatla Silver District and a portfolio of projects with an option on a 200tpd producing mill at Zacatecas. As at September the Company has cash reserves in excess of $7.0 million held with a large Canadian commercial bank. IMPACT Silver has not invested in any short term commercial paper or asset-backed securities.
On behalf of the Directors of IMPACT Silver Corp.
Vice President, Exploration and Director
For further information please contact:
Sunny Pannu, Investor Relations
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