|June 07, 2011|
IMPACT Silver Receives Final Drill Results From GCC (Golondrinas, Cuchara, Chontalpan) Sector, Mexico
|IMPACT Silver Corp. ("IMPACT" or "the Company") is pleased to announce drill results from the final holes of the first phase drill program at the Golondrinas Project and the second phase drill program at the Chontalpan Project located three kilometers and five kilometers, respectively, southeast of IMPACT'S 500-tpd ("tonnes per day") Guadalupe processing plant in the 423-square-kilometer Zacualpan Silver District in central Mexico. Based on the exploration programs completed in both areas, the Company plans to conduct additional work in each project area, including a preliminary economic evaluation on the Chontalpan project. Below is a summary of the recent work completed.|
Chontalpan Drilling Area
The results reported in this press release represent step-out holes at 50 m centers that tested strike and down dip extensions for two drilling areas (Loma Largo and Chontalpan Mine Northwest) located approximately 500 m apart (see press release dated August 3, 2010). Previously announced drill results included 402.6 g/t silver over 2.14 m see (see press release dated September 15, 2010). This second phase of drilling has successfully added potential tonnage to these drilling areas and the data will now be handed over to IMPACT's mine development group for a preliminary economic evaluation.
SECOND PHASE DRILL INTERSECTIONS - CHONTALPAN DRILLING AREA
Golondrinas Drilling Area
The results for the Golondrinas drilling reported here represent the final holes from a first phase program that tested a variety of targets which were summarized when drilling commenced (see press release dated August 19, 2010). Previous drilling results released by IMPACT include 1,045 g/t silver over 1.03 m in drill hole Z10-14 (see press release dated October 19, 2010). Now that all the results for this first phase program have been received, it is the intention of IMPACT to return to the Golondrinas Area for a second phase drill program on selected targets in order to expand the limits of mineralization and further define the higher grade portions. This program will commence after recommendations have been received from the Company's exploration staff.
Cerro Cuates Gold Area
Approximately six months ago, IMPACT prospectors began work in a relatively unknown area located 2.5 kilometers to the west of the Company's currently producing Noche Buena Mine. Recent soil sampling results indicate that many of the known vein structures likely continue to the west in the area. In addition, the regional metal zoning patterns for the known vein structures for the Zacualpan District strongly suggest the likelihood for enhanced gold values. To date, the Company's exploration team has located 91 old mine workings in a ten-square-kilometer area, ten of which appear to have had past production. Initial work indicates there may be at least 40 distinct vein structures, some of which are in excess of ten meters thick. To date, 509 rock samples have been submitted for assay; of these, 57 contain greater than 1 g/t gold, and 73 contain greater than 100 g/t silver. Individual high values range up to 72.9 g/t gold and 1,685 g/t silver.
Brian V. Hall, P. Geo. and Nigel Hulme, 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 Corp. is a profitable silver-focused mining and exploration company operating in Mexico with a producing silver operation at the 423-square-kilometer Royal Mines of Zacualpan District, the Capire Mine Development project in the adjacent 200-square-kilometer Mamatla Mineral District and a portfolio of projects with an operational processing plant at Zacatecas. Additional information can be found on the company website at www.IMPACTSilver.com .
On behalf of the Directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President & CEO
For further information, please contact:
Sunny Pannu, Investor Relations
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that are 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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