IMPACT Silver Corp. Completes Phase 2 Drill at Veta Negra

Impact Silver Corp. reported that Phase 2 of its drill program at Veta Negra, the company’s newest open pit silver asset, has been completed and is ready to start Phase 3.

During Phase 2 eight diamond drill holes were punctured to test mineralization below and to the south of the operating open pit for a total of 1221m. Phase 3 is planned to test the northern extension Veta Negra vein systems and test the systems to depth.

The company informed that 19.8m of 257 g/t Silver and 12.97m of 487 g/t Silver were perforated from its two major north-northwest trending parallel veins. The near surface veins averaging a 14m width justified open pit mining methods are being explored to determine the potential of expanding the open pit, reported the company. Moreover, recent sampling has shown vein systems continuity over a strike length of 650m. Secondary subparallel veins, El Socorro and San Roberto, were also defined during the Phase 2 drilling. 

IMPACT Silver’s Corp. website reports that the Veta Negra mine is a small open pit operation which initiated operations in September 2019. The mine is located 3.4 km northwest of Impact’s 535 t/d Guadalupe processing plant in the Royal District Mines of Zacualpan, Mexico and has been historically mined as an open pit and from underground. The Guadalupe Production Center in Zacualpan is currently the corporation’s primary processing facility. The company’s work in progress is focused on determining the full production potential of the zone which to date seems promising. “Field work is currently focused on defining drill targets close to production facilities which can be placed into production quickly,” according to a company´s press release.

“With a track record of successful exploration, rapid mine development and more than 5 thousand old mine workings identified to date, the Company’s long-term vision sees potential for establishment of multiple production centers throughout the two districts -the Royal Mines of Zacualpan Silver District ("Zacualpan") and the Capire-Mamatla Silver District ("Capire") - each fed by multiple mines,” according to the company´s website.

After 15 years, Impact Silver has grown from an exploration company into a significative silver producer with control of two contiguous mineral districts in south-central Mexico. The two districts together cover 211km2 with four producing mines and over 5,000 silver mines. Since 2005 the IMPACT has produced over 10 million ounces of silver, generating revenues of over US$202 million, with no long-term debt, according to their website.

While three underground silver mines and one open pit mine feed the Guadalupe plan in Zacualpan, the southern Mamatla District entails the Capire Project that includes a 200 t/d processing pilot plant adjacent to an open pit silver mine with a mineral resource of over 4.5 millon oz silver, 48 million lbs zinc and 21 million lbs lead.