IMPACT SILVER OUTLINES OVER 7 MILLION OUNCES SILVER AND 94 MILLION LBS ZINC AT CAPIRE AND AURORA 1
For release: November 17, 2009TRADING SYMBOL: "IPT: TSX.V"
IMPACT SILVER OUTLINES OVER 7 MILLION OUNCES SILVER AND 94 MILLION LBS ZINC AT CAPIRE AND AURORA 1
IMPACT Silver Corp. ("IMPACT") is pleased to announce initial NI43-101 compliant mineral resource estimates for the Capire and Aurora 1 Zones located in the Mamatla Mineral District. The Capire-Aurora 1 Project is an exploration site that is in the mine planning and economic assessment stage and is only one of many exploration and mining sites on the large 472-square-kilometer project area. If a positive production decision is made, it would represent IMPACT's sixth mining operation in the Zacualpan and Mamatla Districts. The project is located 16 kilometers southwest of IMPACT's active mining and processing operations in the Royal Mines of Zacualpan Silver District. The combined Capire and Aurora 1 Measured and Indicated Mineral Resources estimates total 7.2 million ounces silver, 94.3 million pounds zinc and 38.8 million pounds lead. Both zones remain open for expansion. Infill and expansion drilling on both zones will resume later this month.
A summary 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 Au Cu Pb Zn IGMV*
(g/t) (g/t) (%) (%) (%) US$/t
Capire Measured + Indicated 3,114,488 52.31 0.202 0.07 0.39 1.02 $56.69
Aurora 1 Measured + Indicated 1,215,798 52.07 0.201 0.08 0.46 0.92 $56.69
Grand Total Measured + Indicated 4,330,286 52.24 0.201 0.07 0.41 0.99 $56.69
Capire Inferred 218,617 49.41 0.188 0.06 0.35 0.94 $52.94
Aurora 1 Inferred 85,836 46.89 0.166 0.07 0.38 0.88 $50.81
Grand Total Total Inferred 304,453 48.7 0.182 0.07 0.36 0.92 $52.34
*IGMV ("In Ground Metal Value") = (0.498× Ag g/t)+(31.347 × Au g/t)+(46.297 ×Cu%)+(15.432× Pb%)+ (14.991× Zn%) based on metal prices of US$975/oz Au, US$15.50/oz Ag, US$2.10/lb Cu, US$0.68/lb Pb and US$0.70/lb Zn. No adjustments have been made for mining or metallurgical recoveries and no economic cut off values have yet been determined.
Combined Measured and Indicated, and separately Inferred, In Ground Metal Content are as follows:
Total Measured + Indicated In Ground Metal Content
Ag (oz) Au (oz) Cu (lbs) Pb (lbs) Zn (lbs)
Capire +Aurora 1 Measured 3,225,633 12,256 2,972,731 17,020,021 40,950,998
Capire +Aurora 1 Indicated 4,047,211 15,773 3,523,296 21,862,477 53,428,372
Capire +Aurora 1 Measured+Indicated 7,272,844 28,029 6,496,027 38,882,498 94,379,370
Total Inferred In Ground Metal Content
Capire +Aurora 1 Inferred 476,688 1,779 421,645 2,405,978 6,157,909
Mine planning, metallurgical studies and economic studies are now underway to evaluate the production potential of the Capire and Aurora 1 zones. The orientation and shallow depth from surface of the mineralization indicates potential for open pit mining of at least a portion of the zones. Should a production decision be made on Capire and Aurora 1, it is anticipated that a new processing plant would be built on site to create a second production centre on IMPACT's large 472km2 mineral holdings in the region.
BACKGROUND AND METHODOLOGY
The Capire and Aurora 1 Zones are Volcanogenic Massive Sulphide ("VMS") deposits (different from the epithermal vein deposits IMPACT Silver is actively mining in the Royal Mines of Zacualpan Silver District, 16 kilometers to the northeast). They occur in the same stratigraphy as the Campo Morado VMS District where Farallon Resources Ltd. (TSE:FAN) recently began production on the G-9 VMS deposit. The G-9 VMS deposit is located along trend, 45 kilometers southwest of Capire and Aurora 1.
These NI43-101 mineral resource estimates are the first reported by IMPACT in the districts. They are based on assays from core drilling carried out by IMPACT in 2007 and 2008, and by Valerie Gold Resources in 1996 and 1997. In total, 103 drill holes totaling 10,016 meters were used for the Capire study and 36 drill holes totaling 3,056 meters were used for the Aurora 1 study. IMPACT drilling was based on an approximate 50x25-meter 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 700g/t Ag, 1.6g/t Au, 0.6% Cu, 5.0% Pb and 11.0% Zn for the Capire Zone and 500g/t Ag, 1.0g/t Au, 0.5% Cu, 3.5% Pb and 4.5% Zn for the Aurora 1 Zone.
After confirming the integrity of the data and statistically assessing it, the data population was composited to 3-meter 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 the Capire and Aurora 1 zones. 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. 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 Aurora 1 are presented below. Additionally, each zone/classification category has an accompanying table below it that documents the related ‘In Ground Metal Contents'.
CAPIRE ZONE
Mineral Resources for the Capire Zone have been estimated as follows:
Capire Zone - Measured and Indicated Mineral Resources
above cut off
Classification IGMV tonnes Ag Au Cu Pb Zn IGMV
cut-off (g/t) (g/t) (%) (%) (%) US$/t
measured $0 1,311,302 55.35 0.209 0.07 0.41 1.07 $59.83
measured $20 1,289,681 56.07 0.212 0.07 0.42 1.08 $60.58
measured $40 1,036,628 63.31 0.227 0.08 0.47 1.19 $67.50
measured $60 569,885 78.96 0.256 0.09 0.57 1.41 $81.90
measured $80 213,551 105.41 0.28 0.12 0.73 1.71 $103.93
measured $100 88,033 131.35 0.302 0.15 0.92 2.03 $126.41
measured $120 40,188 154.48 0.325 0.18 1.11 2.34 $147.61
measured $140 17,651 180.44 0.352 0.21 1.32 2.67 $171.21
indicated $0 1,803,187 50.09 0.196 0.06 0.37 0.98 $54.40
indicated $20 1,771,064 50.76 0.198 0.07 0.38 0.99 $55.08
indicated $40 1,206,499 62.71 0.222 0.08 0.46 1.15 $66.14
indicated $60 628,792 80.03 0.252 0.1 0.58 1.39 $81.96
indicated $80 261,230 98.47 0.285 0.12 0.73 1.67 $99.59
indicated $100 103,695 113.3 0.331 0.14 0.92 1.98 $117.19
indicated $120 35,237 128.93 0.379 0.16 1.08 2.16 $132.62
indicated $140 7,150 157.92 0.481 0.18 1.2 2.29 $154.70
Grand Total/Average : 3,114,488 52.31 0.202 0.07 0.39 1.02 $56.69
Capire Zone - Inferred Resources
above cut off
Classification IGMV tonnes Ag Au Cu Pb Zn IGMV
cut-off (g/t) (g/t) (%) (%) (%) US$/t
inferred $0 218,617 49.41 0.188 0.06 0.35 0.94 $52.94
inferred $20 216,358 49.76 0.189 0.07 0.35 0.95 $53.30
inferred $40 158,561 57.75 0.204 0.08 0.4 1.08 $61.12
inferred $60 77,318 70.64 0.22 0.09 0.49 1.23 $72.34
inferred $80 13,315 87.25 0.256 0.1 0.6 1.57 $88.86
inferred $100 1,382 107.42 0.254 0.09 0.71 1.78 $103.18
Grand Total/Average : 218,617 49.41 0.188 0.06 0.35 0.94 $52.94
Capire Zone - In Ground Metal Content
Ag (oz) Au (oz) Cu (lbs) Pb (lbs) Zn (lbs)
Measured 2,333,519 8,811 2,023,649 11,852,799 30,932,914
Indicated 2,903,908 11,363 2,385,209 14,708,786 38,958,406
Measured+Indicated 5,237,427 20,174 4,408,857 26,561,585 69,891,320
Inferred 347,286 1,321 289,180 1,686,881 4,530,479
AURORA 1 ZONE
Mineral Resources for the Aurora 1 Zone have been estimated as follows:
Aurora 1 Zone - Measured and Indicated Mineral Resources
above cut off
Classification IGMV tonnes Ag Au Cu Pb Zn IGMV
cut-off (g/t) (g/t) (%) (%) (%) US$/t
measured $0 478,329 58.01 0.224 0.09 0.49 0.95 $61.72
measured $20 326,472 70.67 0.265 0.11 0.61 1.1 $74.61
measured $40 230,440 81.99 0.305 0.13 0.72 1.22 $85.87
measured $60 130,053 92.42 0.352 0.15 0.86 1.38 $98.12
measured $80 53,658 101.65 0.396 0.18 1 1.58 $110.46
measured $100 7,885 117.2 0.464 0.2 1.09 1.78 $125.79
indicated $0 737,468 48.22 0.186 0.07 0.44 0.89 $53.44
indicated $20 733,338 48.37 0.187 0.08 0.44 0.9 $53.63
indicated $40 533,997 54.85 0.211 0.09 0.52 1.04 $61.62
indicated $60 216,505 73.04 0.299 0.13 0.71 1.23 $80.93
indicated $80 95,141 87.25 0.365 0.15 0.83 1.42 $95.93
indicated $100 33,696 99.31 0.402 0.16 0.93 1.58 $107.76
indicated $120 2,705 116.88 0.428 0.18 1.08 2 $126.81
Grand Total/Average : 1,215,798 52.07 0.201 0.08 0.46 0.92 $56.69
Aurora 1 Zone - Inferred Resources
above cut off
Classification IGMV tonnes Ag Au Cu Pb Zn IGMV
cut-off (g/t) (g/t) (%) (%) (%) US$/t
inferred $0 85,836 46.89 0.166 0.07 0.38 0.86 $50.81
inferred $20 61,211 53.41 0.186 0.08 0.47 1 $58.43
inferred $40 20,478 68.94 0.288 0.11 0.66 1.2 $76.68
inferred $60 5,610 80.33 0.332 0.16 0.88 1.53 $94.25
inferred $80 1,773 84.45 0.35 0.18 1.02 1.72 $102.84
Grand Total/Average : 85,836 46.89 0.166 0.07 0.38 0.86 $50.81
Aurora 1 Zone - In Ground Metal Content
Ag (oz) Au (oz) Cu (lbs) Pb (lbs) Zn (lbs)
Measured 892,114 3,445 949,082 5,167,222 10,018,084
Indicated 1,143,303 4,410 1,138,087 7,153,691 14,469,966
Measured+Indicated 2,035,418 7,855 2,087,169 12,320,913 24,488,050
Inferred 129,402 458 132,465 719,097 1,627,430
Ongoing plans will see the resumption of drilling (minimum 3,600 meters) on both zones later this month. Both zones remain open for expansion. Plans include infill and expansion drilling to increase the mineral resources and drilling to fill in a 300-meter gap between the two zones to determine if they are in fact one larger zone. Mine planning is in progress to determine which portions of the zones are amenable to low cost open pit mining and which zones may be mined underground. Metallurgical studies are in progress to optimize metal recoveries in the plant.
The mineral resources reported in this news release are taken from a report entitled, Report on Mineral Resources of the Capire-Aurora 1 Project, Mamatla District, Mexico, by I-Cubed LLC; Principal Author and Qualified Person, Claus G. Wiese, P. Eng. A copy of the complete report will 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 is responsible for the mineral resource estimates published in this news release. George Gorzynski, P. Eng., Vice President Exploration and Director of IMPACT Silver Corp. and a Qualified Person under the meaning of Canadian National Instrument 43‑101 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 Royal Mines of Zacualpan; the adjacent 200-square-kilometer advanced Mamatla Mineral District, which includes the Capire and Aurora 1 Zones; and a portfolio of projects with an option on a producing mill at Zacatecas.
On behalf of the Directors of IMPACT Silver Corp.
"Frederick W. Davidson"For further information please contact:
President and CEODarrell Rader, Corporate Development
Telephone: 604-681-0172
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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