|April 01, 2013|
IMPACT Silver Corp. Announces Financial and Production Results for Fourth Quarter and Year End 2012
|IMPACT Silver Corp. ("IMPACT" or the "Company") announces the audited financial and production results for the fourth quarter and year ended December 31, 2012. |
The Capire open-pit mine and 200 tonne-per-day ("tpd") pilot plant ("Capire") is the Company's second operating production center, with plant expansion plans to drive future growth. Initial material being fed to the Capire Plant is an average of 149 grams per tonne ("g/t") silver, with lower grade material being stockpiled for future processing.
The new underground Cuchara-Oscar Mine, which commenced initial production in February 2013, is projected to provide higher grade silver feed and increase the overall silver grades entering the existing 500 tpd Guadalupe Production Centre. Frederick Davidson, President and CEO, stated, "2012 was a significant year for the Company as we moved two new mines toward production. Despite the challenge of declining silver prices and grades as production shifted from the Chivo Mine to the new Cuchara-Oscar Mine, we anticipate that our two new mines will form the basis of the next level of growth in IMPACT's silver production."
Fourth Quarter 2012 Highlights
In addition to simultaneously constructing two mines, 2012 proved to be a very successful year for IMPACT's mineral exploration programs. "IMPACT will continue to ambitiously invest in the exploration and development of our 623 square kilometer land package in Mexico, as we see substantial exploration upside evident in the cataloguing of over 3,000 old mine workings on the property to date," stated George Gorzynski, Vice President, Exploration. IMPACT has begun a 30,000-meter surface and underground drill program for 2013, with a minimum of 10,000 meters designated to expand the Capire deposit and to test its nearby satellite silver prospects. Management intends to increase production steadily by advancing mines from discovery into production by using internally generated cash flow and developing additional new production centres within the Zacualpan and Capire districts.
IMPACT is a producing silver mining company with two production centres in south-central Mexico: Guadalupe, located in Mexico State, and Capire, located in Guerrero State. At Guadalupe, the Company's 100% owned and operated underground silver mines feed a central 500 tpd processing plant located within the historic Royal Mines of Zacualpan Silver District. At Capire, the Company's first open-pit silver mine commenced initial production in early 2013. IMPACT also holds a 15.2% shareholding in Defiance, which has plans to advance the Company's processing plant and mineral concessions to production in the Zacatecas Silver District in Mexico. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.IMPACTSilver.com or on SEDAR at www.sedar.com.
On behalf of the directors of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For further information, please contact
Meghan Brush, Investor Relations
(604) 681 0172 or firstname.lastname@example.org
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.
1100-543 Granville Street
Vancouver, BC, Canada V6C 1X8
Telephone 604 681-0172
Facsimile 604 681-6813
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