|December 14, 2006|
Impact And Yale Add Another Property To Zacatecas Joint Venture
|IMPACT Silver Corp. ("IMPACT") is pleased to announce that it has purchased another property named the Zacatecas Concession which has been added to its Zacatecas Venture with Yale Resources. This brings the number of properties that make up the Zacatecas Venture to four. In addition IMPACT is pleased to report that field work has started on all four properties.|
The Zacatecas Concession was purchased from a private Mexican vendor and is located contiguous with and west of the Salvador Concession previously purchased by IMPACT and optioned to Yale Resources. Under the Zacatecas Joint Venture Agreement, Yale has opted to also option the ZAC Concession from IMPACT.
Yale may earn up to 80% in the Zacatecas Concession under the same terms as the Salvador, San Jose and the San Sabino properties. To earn 65 % in the property Yale must reimburse IMPACT the purchase price of the property and spend a minimum of US $100,000 on exploration (including a minimum of 500 metres of drilling) within 18 months. To earn an additional 15% - for a total of 80% - Yale will then have to pay US $125,000 in either cash or stock to IMPACT at IMPACT's discretion. As the Zacatecas property is contiguous with the Salvador claim, the commitments for the two properties may be pooled in order to earn the interest in both properties.
The Zacatecas Concession is located approximately 2 km southeast of the operating Veta Grande processing plant under option by IMPACT. The concession covers part of a parallel vein system which extends on to the neighbouring Salvador Concession. Two old shafts at least 40m deep were found on the concession. Beside the shafts is a 2000 tonne mine dump. Selected vein material from the dump assayed 660g/t silver.
FIELD WORK UNDERWAY
An independent geological team has commenced field work on the four Zacatecas Venture properties. This program is expected to take several weeks and will involve geological mapping and detailed sampling of the historic workings and old mine dumps that occur throughout the properties. The objective of this work is to prepare the projects for a drill program planned for early 2007.
This acquisition is part of IMPACT's strategy of building a mid-tier Silver producer based on an aggressive development and acquisition plan focusing on Mexico and silver. Through its network of local contacts, IMPACT continues to seek out undervalued assets that can represent consolidation opportunities in significant silver districts.
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. Rock samples were collected from dumps beside old mine workings. Samples were tagged for identification after collection and securely stored at the IMPACT base camp until shipment. A total of 5% assay standards and 5% blanks were inserted into every 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 analysed for an additional 30 elements by ICP spectrometry.
IMPACT Silver Corp. is a Tier 1 silver focused mining and exploration company with two producing silver mines at Zacualpan, Mexico, an advanced-stage silver project at Zacatecas, Mexico, and other projects in the Dominican Republic. Energold Drilling Corp. (EGD:TSX.V) owns 6.6 million shares of IMPACT.
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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