|
IMPACT
Silver Reports Updated Mineral Resources at Capire
in Preparation for Production
t
IMPACT Silver Corp. ("IMPACT" or "the Company") is
pleased to announce updated NI43-101 compliant mineral resource estimates for
the Capire Deposit (formerly the Capire-Aurora 1 Zones) in the 200-square-kilometer Mamatla Mineral District of Mexico. The 2010 infill
drilling program focused on the currently defined zones and upgraded
additional mineral resources into the highest Measured Mineral Resource
category for final mine planning on the proposed open pit and adjacent
mineralization. Tonnes in the Measured Mineral
Resource category increased by 18% and contained in-ground silver ounces
increased by 9% over the 2009 study (see IMPACT Silver news release dated November 19, 2009 and the
final NI43-101 report to be posted on www.sedar.com for
comparison).
The Capire Project is in the final mine planning
and permitting stage with initial pilot plant production planned for late
2011. When in production, Capire will be IMPACT's
fourth active mining operation and a new production district. The orientation
and shallow depth from surface of the mineralization will allow for open pit
mining of a portion of the zone. The project is located 16 kilomters southwest of the Company's active mining and
processing operations in the Royal Mines of Zacualpan
Silver District. The new combined Measured and Indicated Mineral Resource
Estimates at the Capire Deposit total 7.2 million
oz. silver, 30,446 oz. gold, 95.6 million lbs. zinc and 37.2 million lbs.
lead. The deposit remains open for expansion and drilling is resuming
with a minimum 2,500m resource expansion program.
A summary of the Capire Deposit by zone of the
total classified Measured and Indicated Mineral Resources inventory and
separately, Inferred Mineral Resources, based on a 3D geological model is as
follows:
Summary
Table Classified Mineral Resources - Measured + Indicated and Separate
Inferred
|
Zone
|
Classification
|
Tonnes
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
|
|
Capire
|
Measured + Indicated
|
3,104,944
|
46.46
|
0.19
|
0.06
|
0.33
|
0.93
|
|
Aurora 1
|
Measured + Indicated
|
1,807,302
|
44.50
|
0.199
|
0.07
|
0.36
|
0.80
|
|
Grand Total
|
Total Measured +
Indicated
|
4,912,246
|
45.74
|
0.193
|
0.06
|
0.34
|
0.88
|
|
|
|
Capire
|
Inferred
|
69,144
|
41.14
|
0.169
|
0.05
|
0.26
|
0.72
|
|
Aurora 1
|
Inferred
|
301,922
|
35.49
|
0.159
|
0.06
|
0.28
|
0.71
|
|
Grand Total
|
Total Inferred
|
371,066
|
36.54
|
0.161
|
0.06
|
0.28
|
0.71
|
No adjustments have been made for mining or metallurgical recoveries and no
economic cut off values were incorporated.
Combined Measured and Indicated, and separately Inferred, In Ground Metal
Contents are as follows:
Total
Measured + Indicated In Ground Metal Content
|
|
|
Ag (oz)
|
Au (oz)
|
Cu (lbs)
|
Pb (lbs)
|
Zn (lbs)
|
|
Capire +Aurora 1
|
Measured
|
3,529,969
|
14,146
|
3,389,275
|
18,234,678
|
46,140,820
|
|
Capire +Aurora 1
|
Indicated
|
3,694,066
|
16,300
|
3,693,733
|
19,029,800
|
49,522,173
|
|
Capire +Aurora 1
|
Measured + Indicated
|
7,224,035
|
30,446
|
7,083,007
|
37,264,478
|
95,662,993
|
|
|
|
Total Inferred In
Ground Metal Content
|
|
Capire +Aurora 1
|
Inferred
|
435,959
|
1,919
|
475,594
|
2,260,089
|
5,823,490
|
BACKGROUND AND METHODOLOGY
The Capire Deposit is a Volcanogenic Massive Sulphide ("VMS") deposit (different from the
epithermal vein deposits IMPACT is actively mining in the Royal Mines of Zacualpan Silver District, 16 kilometers to the
northeast). It occurs in the same stratigraphy as the Campo Morado VMS District where Nyrstar
NV (formerly Farallon Resources) is in production
on the G-9 VMS deposit. The G-9 VMS deposit is located along trend, 45
kilometers southwest of Capire.
Drilling in 2010 showed Capire and Aurora 1 to be
one continuous zone, now referred to as simply the Capire
Deposit. However, for purposes of comparisons with previous reports, the
separation of Capire and Aurora 1 has been
maintained in this news release.
These NI43-101 mineral resource estimates are updated from an earlier
NI43-101 compliant mineral resource study (see the Company's news release
dated November 19, 2009 for details).
They are based on assays from core drilling carried out by IMPACT in 2007
through 2010, and by a previous operator in 1996 and 1997. In total, 123
drill holes totaling 12,153m were used for the Capire
study and 68 drill holes totaling 6,597m were used for the Aurora 1 study.
IMPACT drilling was based on an approximate 50x25m drill grid. Assays for all
drill programs were carried out by ALS Chemex
Laboratories in North Vancouver, Canada. High assays were capped (reduced to
avoid statistical bias for calculation purposes) at 655g/t silver, 1.4g/t
gold, 0.6% copper, 3.0% lead and 9.6% zinc for Capire
and 360g/t silver, 0.9g/t gold, 0.34% copper, 2.2% lead and 4.1% zinc for
Aurora 1.
After confirming the integrity of the data and statistically assessing it,
the data population was composited to 3m vertical intervals. These intervals
were subject to variography to determine the best
direction of grade continuity and anisotropic factors for each element in
each zone. A block model was then created that encompassed both Capire and Aurora 1. Grade interpolation was done
separately for each element using in each case ordinary kriging
and the variogram models and anisotropy developed.
Specific gravity was also estimated into each block using a nearest neighbor
approach. The tabulated resources were subsequently classified according to
the standards of the Canadian Institute for Mining and Metallurgy (2005) as
required for mining and exploration projects under Canadian National
Instrument 43-101. The classified mineral resource IGMV/t cut-off tables for Capire and Aurora1 are presented below. Additionally,
each zone/classification category has an accompanying table below it that
documents the related 'In Ground Metal Contents'.
CAPIRE ZONE
Updated Mineral Resources for the Capire Zone have
been estimated as follows:
Capire Zone -
Updated Measured and Indicated Mineral Resources
|
Classification
|
IGMV*
cut-off
|
tonnes
|
above cut
off
|
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
Measured
|
$0
|
1,585,174
|
51.64
|
0.201
|
0.07
|
0.37
|
1.01
|
|
Measured
|
$20
|
1,584,227
|
51.66
|
0.201
|
0.07
|
0.37
|
1.01
|
|
Measured
|
$40
|
1,212,760
|
59.32
|
0.220
|
0.08
|
0.42
|
1.15
|
|
Measured
|
$60
|
660,352
|
73.50
|
0.253
|
0.10
|
0.53
|
1.42
|
|
Measured
|
$80
|
286,340
|
93.00
|
0.287
|
0.13
|
0.67
|
1.79
|
|
Measured
|
$100
|
119,676
|
113.97
|
0.317
|
0.16
|
0.84
|
2.24
|
|
Measured
|
$120
|
59,793
|
131.60
|
0.346
|
0.20
|
0.99
|
2.66
|
|
Measured
|
$140
|
31,124
|
149.29
|
0.375
|
0.24
|
1.15
|
3.07
|
|
Measured
|
$160
|
17,730
|
164.32
|
0.404
|
0.28
|
1.28
|
3.41
|
|
Measured
|
$180
|
9,916
|
177.47
|
0.439
|
0.32
|
1.43
|
3.79
|
|
Measured
|
$200
|
5,665
|
188.56
|
0.451
|
0.36
|
1.60
|
4.20
|
|
Measured
|
$220
|
3,806
|
196.89
|
0.464
|
0.39
|
1.69
|
4.43
|
|
Measured
|
$240
|
2,009
|
210.95
|
0.494
|
0.41
|
1.75
|
4.58
|
|
Measured
|
$260
|
645
|
217.02
|
0.522
|
0.45
|
1.87
|
4.93
|
|
|
|
Indicated
|
$0
|
1,519,771
|
41.06
|
0.177
|
0.06
|
0.30
|
0.85
|
|
Indicated
|
$20
|
1,513,720
|
41.17
|
0.178
|
0.06
|
0.30
|
0.85
|
|
Indicated
|
$40
|
936,881
|
49.91
|
0.196
|
0.07
|
0.37
|
1.06
|
|
Indicated
|
$60
|
352,447
|
65.96
|
0.235
|
0.09
|
0.51
|
1.40
|
|
Indicated
|
$80
|
123,425
|
83.47
|
0.270
|
0.11
|
0.66
|
1.80
|
|
Indicated
|
$100
|
45,307
|
103.45
|
0.305
|
0.13
|
0.79
|
2.21
|
|
Indicated
|
$120
|
15,628
|
126.66
|
0.344
|
0.18
|
0.97
|
2.70
|
|
Indicated
|
$140
|
6,969
|
163.12
|
0.401
|
0.24
|
1.10
|
2.92
|
|
Indicated
|
$160
|
4,692
|
178.18
|
0.412
|
0.26
|
1.18
|
3.14
|
|
Indicated
|
$180
|
2,960
|
179.25
|
0.407
|
0.30
|
1.39
|
3.58
|
|
Indicated
|
$200
|
1,862
|
186.16
|
0.421
|
0.33
|
1.48
|
3.80
|
|
Indicated
|
$220
|
590
|
204.88
|
0.473
|
0.36
|
1.58
|
4.06
|
|
Indicated
|
$240
|
241
|
218.55
|
0.507
|
0.40
|
1.69
|
4.33
|
|
Indicated
|
$260
|
27
|
217.14
|
0.539
|
0.43
|
1.77
|
4.60
|
|
|
|
Grand Total/Average
:
|
3,104,944
|
46.46
|
0.19
|
0.06
|
0.33
|
0.93
|
* IGMV = In Ground Metal
Value = (0.494 � Ag
g/t)+(33.026 � Au
g/t)+(57.541 � Cu%)+(17.637
� Pb%)+(17.857 � Zn%) based on two year
trailing metal prices to September 30, 2010 of US$1,027/oz
Au, US$15.38/oz Ag, US$2.61/lb
Cu, US$0.81/lb Pb and
US$0.80/lb Zn. IGMV*
is used here only for determining cut off values for these tables. No adjustments have been made for mining or
metallurgical recoveries and no economic cut off values have yet been
determined.
Capire Zone -
Updated Inferred Mineral Resources
|
Classification
|
IGMV*
cut-off
|
tonnes
|
above cut off
|
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
Inferred
|
$0
|
69,144
|
41.14
|
0.169
|
0.05
|
0.26
|
0.72
|
|
Inferred
|
$20
|
60,936
|
43.52
|
0.185
|
0.06
|
0.30
|
0.82
|
|
Inferred
|
$40
|
43,518
|
46.47
|
0.197
|
0.07
|
0.33
|
1.08
|
|
Inferred
|
$60
|
19,729
|
47.98
|
0.198
|
0.09
|
0.40
|
1.50
|
|
Inferred
|
$80
|
980
|
76.34
|
0.288
|
0.02
|
0.75
|
1.99
|
|
Inferred
|
$100
|
421
|
87.80
|
0.271
|
0.01
|
0.87
|
2.21
|
|
|
|
Grand Total/Average
:
|
69,144
|
41.14
|
0.169
|
0.05
|
0.26
|
0.72
|
Capire Zone -
Updated In Ground Metal Content
|
|
Ag (oz)
|
Au (oz)
|
Cu (lbs)
|
Pb (lbs)
|
Zn (lbs)
|
|
Measured
|
2,631,808
|
10,244
|
2,446,298
|
12,930,431
|
35,296,582
|
|
Indicated
|
2,006,264
|
8,649
|
2,010,313
|
10,051,566
|
28,479,438
|
|
Measured+Indicated
|
4,638,072
|
18,893
|
4,456,611
|
22,981,997
|
63,776,020
|
|
|
|
Inferred
|
91,455
|
376
|
76,218
|
396,335
|
1,097,542
|
AURORA 1 ZONE
Mineral Resources for the Aurora 1 Zone have been estimated as follows:
Aurora 1
Zone - Updated Measured and Indicated Mineral Resources
|
Classification
|
IGMV*
cut-off
|
tonnes
|
above cut off
|
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
Measured
|
$0
|
534,659
|
52.25
|
0.227
|
0.08
|
0.45
|
0.92
|
|
Measured
|
$20
|
531,420
|
52.50
|
0.228
|
0.08
|
0.45
|
0.93
|
|
Measured
|
$40
|
420,167
|
59.67
|
0.247
|
0.09
|
0.52
|
1.04
|
|
Measured
|
$60
|
239,861
|
73.95
|
0.284
|
0.11
|
0.64
|
1.26
|
|
Measured
|
$80
|
109,687
|
96.59
|
0.333
|
0.13
|
0.80
|
1.50
|
|
Measured
|
$100
|
57,929
|
113.43
|
0.364
|
0.15
|
0.93
|
1.68
|
|
Measured
|
$120
|
25,170
|
137.57
|
0.397
|
0.17
|
1.05
|
1.85
|
|
Measured
|
$140
|
10,361
|
165.70
|
0.417
|
0.19
|
1.18
|
1.94
|
|
Measured
|
$160
|
4,509
|
183.16
|
0.438
|
0.21
|
1.27
|
2.16
|
|
Measured
|
$180
|
1,696
|
195.71
|
0.451
|
0.22
|
1.38
|
2.42
|
|
Measured
|
$200
|
198
|
200.12
|
0.448
|
0.24
|
1.59
|
2.90
|
|
|
|
Indicated
|
$0
|
1,272,643
|
41.25
|
0.187
|
0.06
|
0.32
|
0.75
|
|
Indicated
|
$20
|
1,260,955
|
41.48
|
0.188
|
0.07
|
0.33
|
0.76
|
|
Indicated
|
$40
|
864,801
|
48.61
|
0.211
|
0.08
|
0.39
|
0.87
|
|
Indicated
|
$60
|
286,795
|
63.58
|
0.270
|
0.11
|
0.55
|
1.14
|
|
Indicated
|
$80
|
88,925
|
80.59
|
0.326
|
0.13
|
0.72
|
1.35
|
|
Indicated
|
$100
|
23,208
|
99.36
|
0.360
|
0.15
|
0.88
|
1.57
|
|
Indicated
|
$120
|
5,309
|
117.88
|
0.373
|
0.18
|
1.09
|
1.77
|
|
Indicated
|
$140
|
1,018
|
131.65
|
0.387
|
0.20
|
1.34
|
1.96
|
|
Indicated
|
$160
|
74
|
141.76
|
0.402
|
0.21
|
1.47
|
2.20
|
|
|
|
Grand Total/Average:
|
1,807,302
|
44.5
|
0.199
|
0.07
|
0.36
|
0.8
|
Aurora 1
Zone - Inferred Resources
|
Classification
|
IGMV*
cut-off
|
tonnes
|
above cut off
|
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
Inferred
|
$0
|
301,922
|
35.49
|
0.159
|
0.06
|
0.28
|
0.71
|
|
Inferred
|
$20
|
289,776
|
36.04
|
0.164
|
0.06
|
0.29
|
0.73
|
|
Inferred
|
$40
|
168,193
|
43.14
|
0.191
|
0.07
|
0.35
|
0.92
|
|
Inferred
|
$60
|
37,578
|
55.50
|
0.248
|
0.10
|
0.54
|
1.42
|
|
Inferred
|
$80
|
14,074
|
55.76
|
0.235
|
0.13
|
0.74
|
1.97
|
|
Inferred
|
$100
|
1,330
|
63.52
|
0.274
|
0.14
|
0.82
|
2.31
|
|
|
|
Grand Total/Average
:
|
301,922
|
35.49
|
0.159
|
0.06
|
0.28
|
0.71
|
Aurora 1
Zone - In Ground Metal Content
|
|
Ag (oz)
|
Au (oz)
|
Cu (lbs)
|
Pb (lbs)
|
Zn (lbs)
|
|
Measured
|
898,161
|
3,902
|
942,977
|
5,304,247
|
10,844,238
|
|
Indicated
|
1,687,802
|
7,651
|
1,683,419
|
8,978,234
|
21,042,735
|
|
Measured+Indicated
|
2,585,963
|
11,553
|
2,626,396
|
14,282,481
|
31,886,973
|
|
|
|
Inferred
|
344,503
|
1,543
|
399,376
|
1,863,754
|
4,725,947
|
The mineral resources reported in this news release
are taken from a report entitled 'Update Report on Mineral
Resources of the Capire-Aurora
1 Project, Mamatla Mineral
District, Mexico, dated January
28, 2011, by I-Cubed LLC, Principal Author and Qualified Person,
Claus G. Wiese, P.Eng.' A copy of the complete report will soon be posted
on www.sedar.com.
Claus G. Wiese. P.Eng. of I-Cubed
LLC, an independent professional
engineer and a Qualified
Person under the meaning
of Canadian National Instrument 43 101, has reviewed
and is responsible for
the mineral resource estimates published in this news release. George Gorzynski,
P.Eng., Vice President
and Director of IMPACT Silver,
and a Qualified Person under
the meaning of Canadian National Instrument 43 101
has reviewed and is responsible for other technical information (not related
to the mineral resource estimates) in 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 472-square-kilometer Royal Mines of Zacualpan District and the adjacent 200-square-kilometer Mamatla Mineral District which is host to the Capire Deposit. To date, IMPACT
has identified over 2,000 old
mine workings in the districts representing
significant future long term
exploration potential. IMPACT also
holds a portfolio of projects
with an operational processing plant at Zacatecas. Additional information on IMPACT and its
projects 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
(604) 681 0172 or via email at inquiries@impactsilver.com
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 Statements.
This IMPACT News Release contains 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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