IMPACT Silver drills 10.22% zinc over 6.9 metres at Plomosas, Mexico
IMPACT Silver Corp. [TSXV-IPT; OTCQB-ISVLF; FSE-IKL] reported initial results of a continuing exploration program being undertaken at the recently acquired Plomosas zinc (-lead-silver) mine in northern Mexico. Highlights include drill hole TAS-23-18, which cut three mineralized intervals: 2.7 metres with 11.07% zinc (Zn) and 9.24% lead (Pb), 6.9 metres with 10.22% zinc and 5.43% lead, and 3.6 metres with 10.91% zinc and 2.07% lead.
The company has undertaken a surface drill program to test mineralization near the Tres Amigos section of the mine and has conducted a sampling program in stopes of the Plomosas mine that were partially exploited by the previous operator.
Highlights: Initial drill results from the Tres Amigos drill program have confirmed the presence of high-grade mineralization in the Juarez horizon, near accessible mine workings on levels 2, 5 and 7. Reported downhole intervals are believed to represent true widths for the mineralization:
Drill hole TAS-23-9 intersected three intervals: 5.70 metres with 7.9% zinc, 5.3% lead and 23.2 g/t silver (Ag); 3.46 m with 9.37% zinc, 5.24% lead and 25.9 g/t silver; and 1.5 m with 11.89% zinc, 3.09% lead and 64.3 g/t silver.
Hole TAS-23-16 cut two high-grade intervals: 10.8 m with 6.30% zinc, 0.80% lead and 14.7 g/t silver; and 6.43 m with 8.99% zinc, 1.16% lead and 16.6 g/t silver.
Hole TAS-23-18 cut three intervals: 2.7 m with 11.07 per cent zinc, 9.24% lead and 34.7 g/t silver; 6.9 m with 10.22% zinc, 5.43% lead and 27.7 g/t silver; and 3.6 m with 10.91% zinc, 2.07% lead and 50 g/t silver.
Fifty-eight samples taken over a strike length of approximately 50 metres in the 880 stope on Level 8 of the Plomosas mine (Mina Vieja horizon) have yielded an average of 12.1% zinc, 5.8% lead and 44 g/t silver over an average sample width of 1.8 metres.
Chairman and CEO Fred Davidson commented, “We are pleased that our initial drilling and underground sampling program has returned high grades over mining widths in line with expectations at Plomosas. Our field crews have also begun exploration activity beyond the immediate mine area and have already identified some high priority drill targets. On the production side, the restart of mining and processing operations has gone well after an extended period of rehabilitation and upgrading of facilities and equipment, and we look forward to a full year of revenue generating production from Plomosas in 2024.”
The Plomosas mine, a historic high grade zinc producer in northern Mexico, was recently acquired by the Company which has undertaken a surface drill program in the Tres Amigos area of the mine and has conducted an underground sampling program in stopes of the Plomosas mine which were partially exploited by the previous operator. Mineralization at the Plomosas mine occurs as zinc-rich Carbonate Replacement Deposits along certain horizons of the local sedimentary rock sequence. Two main mineralized horizons have provided the bulk of historic production, the Mina Vieja marble and the Juarez limestone, where structural ground preparation along these two units resulted in concentrations of zinc, lead and silver.
The company initiated an exploration drill program of the Juarez limestone in the Tres Amigos area to test mineralization near workings with known mineralization from historic work.
The company also conducted an underground sampling program in mine workings between levels 8 and 9 that the former operator partially exploited along the Mina Vieja horizon. These high-grade results are being evaluated in relation to the mill upgrades the company has recently completed.
IMPACT is a successful producer-explorer with two mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where three underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead. Company engineers are reviewing Capire for a potential restart of operations. Over the past 17 years, IMPACT has placed multiple zones into commercial production and produced over 12 million ounces of silver, generating revenues over $256 million, with no long-term debt.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential where only 600 metres of the 6 km-long structure have seen modern exploration to date. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material from surface.