|March 21, 2019|
IMPACT Silver Announces Concentrate Sales Partnership with Samsung C&T Corp.
|IMPACT Silver Corp. ("IMPACT" or the "Company") is pleased to announce it has entered into a concentrate sales contract with Samsung C&T Corp. ("Samsung") for off take from the Royal Mines of Zacualpan production in Mexico.|
The first shipment of concentrate will start in March 2019, with a fixed schedule every two weeks for 12 months, shipping through the port of Manzanillo, Mexico. Based on current production of 400 tonnes per day, 2019-2020 sales of silver lead-zinc concentrate should top 800,000 ounces silver with revenues over 95% attributable to pure silver (no equivalents).
Fred Davidson, President & CEO of IMPACT stated, "We look forward to commencing a solid relationship with Samsung, one of the most recognizable brands in the electronics and consumer products world, and providing ethically sourced silver-lead-zinc concentrate which will go into the hands of millions of customers and end-products around the globe."
In 2018, IMPACT began a renewed emphasis on greenfield exploration, with ongoing programs at the Santa Teresa gold prospect and El Paso silver vein as well as Guadalupe Mine and San Ramon extensions. In 2018, the Santa Teresa area sampling program successfully trenched 6.5g/t gold over a true width of 1.66 meters along a length of 50 meters (see IMPACT news release dated September 25, 2018 for details). In February 2019, IMPACT commenced a small initial diamond drilling program at El Canelo veins system at Santa Teresa (see IMPACT news release dated February 19, 2019 for details) and results should be released in the near-term. As a junior mining producer and explorer, IMPACT believes such new discoveries can add considerable value to the Company's successful decade of production history at the Royal Mines of Zacualpan.
George Gorzynski, P.Eng., a Qualified Person under the meaning of Canadian National Instrument 43-101, approved the technical content regarding exploration work in this news release.
Samsung, founded in 1938 has since been engaged in various global businesses through offices in over 50 countries, aiming to become a global business partner and lifestyle innovator through the Engineering & Construction, Trading & Investment, Fashion and Resort Groups. Parent group Samsung is a $300 billion USD a year revenue South Korean global multinational conglomerate best known for its dominant presence in electronics, information technology, and consumer electronics. Samsung has annual revenues of over U$30 billion with assets of over U$40 billion, and 13,000 employees worldwide.
About IMPACT Silver:
IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants on adjacent districts within its 100% owned mineral concessions covering 357km2 in central Mexico with excellent infrastructure and labor force. Over the past thirteen years IMPACT has produced over 9.4 million ounces of silver, generating revenues over $175 million, with no long-term debt. At the Royal Mines of Zacualpan Silver District several underground silver mines feed the central Guadalupe processing plant. To the south, in the Mamatla District the Capire processing pilot plant is currently rated at 200 tpd but is expandable. It is adjacent to an open pit silver mine with a National Instrument 43-101 ("NI 43-101") compliant resource of over 4.5 Moz Silver, 48 million lbs Zinc and 21 million lbs Lead (see IMPACT news release dated January 18, 2016) that is awaiting higher silver prices to be restarted. Given the challenging markets the last few years, IMPACT has focused its exploration efforts on high probability gold and silver targets, with potentially rapid timelines to production and proximity to the Guadalupe processing plant. Following a decade of exploration successes leading to production cash flows, IMPACT has shown the Zacualpan District to be endowed with many high grade epithermal silver-gold zones. With markets more receptive to early exploration results, in 2019 IMPACT continues to add emphasis to exploration work.
Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
CFO | Investor Relations
(604) 681 0172 or firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking and Cautionary Statements
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.
The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI43 101 the Company is required to disclose that it has not based its production decisions on NI43 101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
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