| From: LoneClone | 3/24/2023 12:24:47 PM | | | | | | IMPACT Silver Announces 2022 Financial Results Including Positive Mine-Level Operating Earnings
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Vancouver, British Columbia--(Newsfile Corp. - March 24, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce its financial and operating results for the year ended December 31, 2022. The Company is one of the most focused silver-dominated companies at the centuries-old "Royal Mines of Zacualpan Silver District" in central Mexico. IMPACT is in the process of finalizing the transformative acquisition of the Plomosas zinc-lead-silver mine in northern Mexico, which is expected to add meaningful revenue, commodity diversification and financial growth driven by exceptionally high grade zinc production.
The Company reported $16.3 million in revenue in 2022 compared to $17.7 million in revenue in 2021. Despite operational improvements and cost saving initiatives, the decline in revenue owes to a 13.6% decline in silver prices. Mine operating earnings before amortization and depletion in 2022 were $1.2 million (compared to $4.7 million in 2021) owing to lower silver prices and increased inflationary pressures on costs, wages, a stronger Mexican Peso, as well as additional exploration and drilling costs. Management believes cost controls implemented throughout 2022 as well as recovering silver prices as of late, will result in improving margins throughout 2023.
Fred Davidson, President & CEO of IMPACT, stated, "2022 was one of the most difficult years for global equities and hard assets, with several notable black swan events including the war in Ukraine, unprecedented global inflation and tight supply chains. The resulting increases in interest rates by central banks worldwide resulted in an unprecedented rate hike cycle that started from near zero percent, to over 5% through year-end and into 2023. Despite this, IMPACT managed to minimize losses and position the Company on a trajectory of improved margins and growth in 2023. The Company maintains an enviable, cash-rich balance sheet with no debt, as well as controls on cost inflation at the consumables and labour levels.
"Our dual-pronged strategy focuses on improving metal grade from existing and new development sites while exploiting added efficiencies at the Company's primary production mill. Meanwhile, shareholders can look forward to increased production, commodity diversification, exploration upside and top quartile zinc grades from the recently announced acquisition of the Plomosas high-grade zinc-lead-silver mine. This transformative acquisition should help significantly improve revenue, margins and deliver shareholder value as we deploy our 17 years of Mexican production experience to bring that operation online and deliver growth both at the production and exploration levels.
"Backstopping this growth is the Company's Guadalupe mining complex, which is one of the most efficient and productive mining complexes in the region, and our nearby Capire production centre which represents capacity to rapidly expand production as silver prices increase."
In 2022, IMPACT carried out greenfield and brownfield exploration programs toward growing high-grade feed inventory for the Company's milling operations. In addition to its 211km2 of exploration potential from its legacy Zacualpan-area land package, IMPACT is on the cusp of a new chapter to create shareholder value, as it completes and integrates its recently-announced acquisition of the high-grade zinc-lead-silver Plomosas asset. Plomosas will bring top quartile zinc grades and the potential for high-grade gold and copper mineralization as management seeks to expand the asset's value through aggressive exploration going forward.
"As a legacy producer with demonstrated strength in adapting to evolving market conditions including maintaining a cash-rich balance sheet, our experience speaks for itself with our 12+ million ounces of silver produced since 2006, as well as the associated, combined revenue of nearly $241 million over that time. Meanwhile, our management team remains focused on growth as it deploys capital above and beyond the $71+ million in CAPEX spent to date. Including our transformative Plomosas acquisition, our 2022 accomplishment of delivering mine-level profitability and cost controls have build the Company to a point where investors are offered each of production, exploration upside and growth potential in the months and years to come," said Fred Davidson.
2022 FINANCIAL OVERVIEW
- Revenue in 2022 was $16.3 million compared to $17.7 million in 2021, due to lower average silver prices throughout year.
- Mine operating earnings before amortization and depletion was $1.2 million in 2022 compared to $4.7 million in 2021, due to industry-wide inflationary pressures impacting operating costs across the system.
- Cash flow loss from operations in 2022 was $1.8 million, compared to $3.0 million generated in 2021, due to lower silver prices and increased costs.
- Industry-leading balance sheet including $15.3 million in cash and working capital of $16.4 million at December 31, 2022.
- Total assets increased to $68.8 million from $66.5 million.
- The Company has no long-term debt.
2022 PRODUCTION OVERVIEW
- In 2022, the Company produced 632,862 ounces of silver, compared to 2021 production of 617,686 ounces, representing an increase of 2% on a year-over-year basis. Meanwhile, silver sales also increased by 2% to 644,843 ounces in 2022 compared to 2021, owing to efficiencies in milling operations.
- Average silver grade at the mill level was 159 grams per tonne g/t in 2022 and was unchanged on a year-over-year basis.
- In 2022, mill throughput was 152,862 tonnes compared to 145,458 tonnes in 2021 - averaging 419 tonnes per day.
Notwithstanding fluctuating silver prices throughout 2022, management was successfully able to drive efficiencies at the Company's Guadalupe processing plant where it focused on mining higher-grade and higher margin material. To this end, revenue per tonne in 2022 was an $105.39, representing a decrease of 11% compared to $119.04 in 2021 due to lower silver prices.
Direct production costs in 2022 were $97.49 per tonne, representing an increase of 13% from $86.44 in 2021 due to inflationary pressures and resulting cost increases. Management believes the majority of the Company's cost increases have either been addressed or absorbed, and expects a more stable operating environment in 2023.
2022 CAPEX & EXPLORATION ACTIVITY
In 2022, the Company initiated a substantial underground refurbishment program at Guadalupe, having rebuilt the main production shaft while rebuilding the extensive underground railway system, allowing access to the high-value "Pachuqueno section". These improvements will contribute towards ongoing margin improvement within the Company throughout 2023, and beyond. As an example, Guadalupe provided 55% of mill feed in Q4-2022 with its improved cost structure. Management is continuously upgrading other infrastructure at the mine level including adding improved access to additional high-grade veins for future mill production.
San Ramon South, a new zone discovered in 2021, provided 12% of mill feed in 2022 compared to 15% in 2021. At Veta Negra, where drilling and development have helped provide meaningful growth in 2022, provided 11% of mill feed in Q4-2022. The Company is excited to see results of ongoing exploration at Veta Negra as it determines its full potential and size.
Exploration drilling in 2022 returned significant results in several areas:
In the Veta Negra Mine area, results included 257 g/t silver over 19.8 metres and 487 g/t silver over 12.97 metres (see IMPACT news release dated February 7, 2022 for details).At the prospective San Antonio zinc-rich target, drill results included 2.3% zinc over 3.85 metres (see IMPACT news release dated January 4, 2023 for details).At Aurora 2, north of the Capire open pit mine, drill results included 128 g/t silver, 0.42 g/t gold, 0.76% lead and 1.84% zinc over 7.5 metres (see IMPACT news release dated February 16, 2023 for details). Exploration plans for 2023 include brownfield and greenfield targets on the extensive Zacualpan land position as well as at the recently announced acquisition of the Plomosas project (primarily brownfield).
THE NEXT CHAPTER: GROWTH - PLOMOSAS ACQUISITION
The Company aims to assume operations at the recently announced Plomosas mine in northern Mexico in Q2-2023 (see IMPACT news release dated February 9, 2023 for details). This acquisition is a transformative one for the Company and is expected to deliver a meaningful growth profile, including high-grade zinc production and exciting exploration potential in 2023 and beyond.
The Plomosas project is located 110 km east of the city of Chihuahua, Mexico. With 17 years of Mexican production and exploration experience, management anticipates the project will deliver significant shareholder value as the acquisition is integrated into the Company's ongoing production and exploration profiles.
The district was discovered in 1832 and has seen small scale mining since 1868. Historical mining indicates that Plomosas is a top quartile zinc grade mine globally. Since 1943, approximately 2.5 metric tonnes of zinc have been mined at exceptional grades of 15-25%, as well as 2-7% lead and 40-60 g/t silver1. In addition, the project hosts significant gold and copper exploration targets that will be explored later in 2023. The project's current mine and mill are both fully permitted and come with an existing offtake smelter contract, having been in production since September 2018.
The 3,019 Ha property covers extensive carbonate replacement deposit-type zinc-lead-silver mantos (beds), mainly hosted in carbonates (limestones, marbles). The previous operator reported JORC-compliant mineral resources2 of 215,000 tonnes grading 13.5% zinc, 6.3%?lead and 34.0 g/t silver (indicated), and 772,000 tonnes grading 13.1% zinc, 3.0% lead and 19.0 g/t silver (inferred). To date, just 600m of the 6km strike length has been explored, thereby offering meaningful exploration potential and upside.
UNLOCKING SHAREHOLDER VALUE AT ZACUALPAN
Management is focused on delivering and unlocking shareholder value for its shareholders, including selectively working with other high quality junior explorers to exploit its large-scale, 211 km2 Zacualpan land package. In Q1-2021, the Company optioned approximately 1,100 hectares of its Zacualpan concession to Pantera Silver Corp. Pantera made a payment of $100,000 in cash, and issued 1.0 million Pantera shares to IMPACT, valued at $240,000. Pantera is required to make option payments totaling $300,000 in cash, issue the Company 3.5 million in shares and complete a minimum of $1.4 million worth of work at the project over the subsequent three years, in order to acquire 100% of the project. Negotiations are in place to extend or alter the agreement to accommodate market volatility. The agreement is subject to a 1% net smelter return in favour of IMPACT.
PRODUCTION GROWTH - CAPIRE VMS OPEN PIT MINE
The Company has positioned itself to capitalize on improving market conditions. The "Capire Open Pit" silver mine and the associated 200 tonne per day processing plant is a separate operating unit located 16 km south of the Guadalupe processing plant. The Capire unit is currently on care and maintenance, but the Company is able to rapidly bring the plant online as silver prices and market conditions improve.
Studies are being conducted with regard to critical infrastructure to determine an optimum plant size at Capire in the future, while a 1,400 kg sample from the Capire open pit was tested using state-of-the-art X-Ray transmission ("XRT"), pre-concentration processing technology with encouraging results. XRT technology is a process that recognizes and sorts rocks based on the specific atomic density of the material as well as sorts ore grade material from waste inventories. The Company is currently evaluating the potential impact of XRT on its capital, operating costs, recoveries and the ultimate mineable size of the deposit and current pilot plant. The successful implementation of this technology and re-design of the mine could have a material and positive impact on the Company's future production and profitability.
A recorded conference call reviewing the financial and production results of the year ended December 31, 2022 will be available on the Company website on March 27, 2023 at www.impactsilver.com/s/ConferenceCalls.asp.
The information in this news release should be read in conjunction with the Company's audited condensed consolidated Financial Statements and Management's Discussion and Analysis, available on the Company website at? www.impactsilver.com?and on SEDAR at? www.sedar.com. All amounts are stated in Canadian dollars unless otherwise specified.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) 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 where four 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 (see IMPACT news release dated January 18, 2016 for details and QP statement, and footnote4 for report reference); 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 $241 million.
Plomosas Zinc-Lead-Silver District: IMPACT signed a purchase / sale agreement with Consolidated Zinc Limited of Australia to purchase the Plomosas property and mining operations for US$6 million (cash and shares) plus a 12% NPI (net profit interest) and a third party 1% NSR royalty. Plomosas is a high-grade zinc-lead-silver producer with exceptional exploration potential. Upon closing of the transaction, IMPACT plans to upgrade the mill and mine with the aim to recommence operations in the near term followed by plans for expanding operations. Exploration potential at Plomosas is exceptional with only 600m of the 6?kilometre long structure assessed plus other exploration targets including untested copper-gold targets. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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. All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to future silver prices, interpretation of drill results, future work plans, the use of funds, the potential of the Company's projects, and potential and plans for the Plomosas project, are forward looking statements. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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. There are no assurances the Company will close the acquisition of the Plomosas project. 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, except as required by law.
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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
303-543 Granville Street Telephone (604) 664-7707
Vancouver, BC, Canada V6C 1X8
www.impactsilver.com
Twitter
LinkedIn
1 Reference: Alexandri, A. Gonzalez, H., & Salas, H. (2022). Plomosas Project (CZL), Field Visit Report. IMPACT Silver Corp. private report on field visits and compilation of historic and recent data, 56 pages.
2 Plomosas mineral resources are reported by Consolidated Zinc Ltd. on their website (https://api.newsfilecorp.com/redirect/BNYExcZNO1) under the Australian JORC (2012) Code as mineral resources "depleted as at December 2021". IMPACT's Qualified Person has reviewed but not verified in detail these current reported mineral resources and is only reporting them as material recent mineral resources reported by CZL and available in the public record. IMPACT believes the estimates are relevant and reliable, given they are reported to Australian JORC standards; however, IMPACT's Qualified Person has not done sufficient work to classify them as current Canadian NI 43-101 mineral resources. |
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| From: LoneClone | 5/24/2023 11:50:31 AM | | | | | | IMPACT Silver Announces Q1 2023 Results Including Improved Revenue of $5.1 Million from Increased Mill Throughput and Gold Production
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Vancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces its financial and operating results for the first quarter ended March 31, 2023 from its Royal Mines of Zacualpan mine operations in central Mexico. The Company reports revenue of $5.1 million in Q1 2023, representing a 10.4% improvement over revenue of $4.6 million in Q1 2022. Mine operating earnings (before amortization and depletion) in Q1 2023 was $0.6 million. The net loss during the period was $0.3 million compared to a net loss of $0.06 million in the same period of 2022.
While the average silver grade in Q1 2023 was flat on a year-over-year basis at 162 g/t, a combination of higher overall production levels and additional gold production helped contribute to a 7% increase in revenue per tonne sold of $126.96 in the period compared to $118.34 in the same period of 2022.
Economic headwinds and global growth concerns have helped silver prices benefit recently from a flight to safety standpoint and as a hedge against inflation, however there is a growing consensus that the world's leading economies may escape a deep recession, thereby improving the industrial outlook for silver as well. The combination of all these factors have provided cautious optimism vis-à-vis silver pricing going forward. However, inflation across the value chain remains rampant, and while there is some indication that this trend is slowing, the quarterly direct costs per tonne increased to $111.79 in Q1 2023 compared to $90.01 in Q1 2022. Of this increase, 6% was due to inflation in Mexico and a further 18% was due to foreign exchange. Costs may continue to increase in 2023, albeit at a potentially slower rate.
During the quarter, the Company continued to focus on exploration and development of its mining district and spent $0.8 million on these programs. Working capital at March 31, 2023 was strong at $15.7 million while the Company continues to remain well funded with a cash position of $14.3 million at March 31, 2023. Subsequent to quarter-end, the Company closed an oversubscribed, non-brokered private placement for an additional $9.0 million. The Company has no long-term debt.
Fred Davidson, President & CEO of IMPACT, stated, "During the first quarter, we continued to deal with industry-wide inflation pressures within the supply chain as well as through our labour and support networks. Notwithstanding, our operations ran smoothly, and our team executed on improving production levels while also processing higher grade material which we expect will continue going forward. Our well-capitalized balance sheet will allow us to invest across the board, including in exploration, mine development and into our new high-grade Plomosas zinc-lead-silver mine, which we expect could potentially add significantly to revenue and earnings once up and running later this year and into 2024."
IMPACT continues to be one of the purest intermediate silver miners with more than 90%+ of Company revenue coming from silver. In the medium term, the Company's recent Plomosas acquisition should begin to provide it with commodity diversification, primarily from zinc and lead, as well as the potential for gold production down the road.
Q1 2023 Financial Overview
Revenue in Q1 2023 was $5.1 million, up from $4.6 million in Q1 2022 due to higher production levels and gold production.Mine operating earnings before amortization and depletion in Q1 2023 was $0.6 million, compared to $1.1 million in Q1 2022.Cash used in operations for the quarter was $0.6 million compared to $0.9 million in Q1 2022. The net loss in Q1 2023 was $0.3 million compared to net loss of $0.06 million in Q1 2022. After investing $0.8 million in exploration expenditures and mining assets during the quarter, the cash position remained strong at quarter-end with $14.3 million with working capital of $15.7 million. Subsequent to quarter-end, the Company closed an oversubscribed, non-brokered private placement for an additional $9.0 million.The Company has no long-term debt.
Q1 2023 Production Overview
Mill throughput in Q1 2023 was 38,688 tonnes compared to 36,143 tonnes in Q1 2022.Silver production during the period increased by 10% to 167,050 oz compared to 151,645 oz in Q1 2022 while contributions from lead and gold saw production increases on a year-over-year basis of 19% and 154%, respectively.Revenue per tonne sold was $126.96 in Q1 2023, representing an increase of 7% over the same period in 2022.Direct costs per production tonne were $111.79 in Q1 2023, representing an increase of 24% over Q1 2022 costs of $90.01 per tonne. Most of this increase (18%) is due to foreign exchange, with the balance coming from inflation-related pressures in Mexico.
Exploration Review
Management has been running a focused drill program with success at the San Ramon silver vein system allowing for higher-grade silver feed while the Lipton silver vein systems at the Guadalupe Mine could provide for even further grade improvement at the processing level. The benefits of this exploration success are apparent in the most recent quarter. Notably, the Alacran mine appears to contain levels of gold mineralisation that could help improve the overall grade for the operation as the exploration team works through older workings at that location.
During the quarter, IMPACT announced greenfield drilling results from the San Antonio Zinc vein system including 2.30% Zn over 3.85 metres as well as 1.59 g/t Au and 1.04% Zn over 3.5 metres (see IMPACT news release dated January 4, 2023 for details).
The Company also drilled at the Aurora 2 zone, located 1.3 km northeast of the Capire processing plant and 16 km south of IMPACT's Guadalupe operations. Previous drilling at Aurora 2 included intersections of 625 g/t Ag over 1.88 metres and 420 g/t Ag over 2.50 metres (see IMPACT news release dated December 9, 2013). Recent step-out drilling included 128 g/t silver, 0.42 g/t gold, 0.76% lead and 1.84% zinc over 7.5 metres (see IMPACT news release dated February 16, 2023 for details). These results extend the Aurora 2 zone to the west. The zone has historically been grid drilled with 72 drill holes and remains open to the west and northeast.
Outlook
Management believes the Company is well-positioned as an intermediate miner offering investors exposure to three distinct verticals across the mining sector, including exploration, production, and growth.
IMPACT stands to benefit from several positive trends playing out within the Company and across the industry. Internally, the Company's production at its mill in Zacualpan is operating efficiently while grade is improving thanks to added gold production from the Alacran Mine. This trend is expected to continue throughout 2023 and into 2024.
Growth at Plomosas
Subsequent to the end of Q1 2023, the Company closed on the acquisition of a third mining district known as Plomosas. Plomosas is a high-grade zinc mine located in northern Mexico, just 150 km north of the city of Chihuahua. In April, the Company stopped milling operations temporarily to complete certain necessary upgrades with the objective of restarting production by late summer. Meanwhile, management sees considerable upside from exploration as it begins planned drilling at Plomosas in the coming weeks. The addition of production from Plomosas should impact the Company's financial profile in 2H 2023 and increase into 2024 as improvements are made to the mill and production is brought up to initial capacity levels.
A recorded conference call reviewing the financial and production results of the quarter ended March 31, 2023 will be available on the Company website on May 24, 2023 at www.impactsilver.com/media/conference-calls.
The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedar.com. All amounts are stated in Canadian dollars unless otherwise specified.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with three mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement, and Footnote 1 below for report reference) Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $241 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc-lead-silver producer with exceptional exploration upside potential. The Company aims to recommence operations in the near term followed by plans for expanding operations through the balance of 2023 and into 2024. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement, future production potential of the Plomosas, Zacualpan and Capire projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 except as required by law.
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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
Footnote:
1. Reference: Ristorcelli, S.J. & Gorzynski, G. (2016). Technical Report on Mineral Resources for the Capire Silver-Lead-Zinc Project, Pedro Ascencio Alquisiras Municipality, Guerrero, Mexico. Prepared for IMPACT Silver Corp. by Mine Development Associates, Reno, Nevada. 82 pages. Available on www.sedar.com. |
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| From: LoneClone | 6/20/2023 4:41:16 PM | | | | | | IMPACT Silver Provides Update on the Recently Acquired Plomosas High-Grade Zinc Mine
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2023) - IMPACT Silver Corp. (TSXV: IPT) ("IMPACT" or the "Company") is pleased to provide a corporate update on the Company's recently acquired, high-grade Plomosas zinc-lead-silver mine located in Chihuahua State, Mexico.
Following the completion of the Plomosas mine acquisition (see IMPACT news release dated April 3rd 2023), the Company immediately commenced an extensive program at site to revitalize and upgrade operations and equipment, and bring on new technical and supervisory staff. Planned upgrades will allow for an expansion of production and an aggressive exploration program has been prepared to potentially grow the size of the existing resource.
Mine, Mill and Plant:
The Company expects to initially restart production in 2H/2023 at levels that allow management to consider further modifications and efficiencies, where required. More meaningful production levels approaching design capacity as well as associated revenue is expected in 1H/2024.Mine planning and rehabilitation have been ongoing while the Company replaces and repairs underground equipment including scooptrams and underground trucks. The Company is in the process of replacing mill foundations while upgrading the ball mill, conveyor and crushing systems, and flotation cells. Design capacity of the mill is 150 tpd with plans to expand.Plans are in place to expand the existing tailings pond and concurrently, a new larger tailings pond is in the design and permitting stages. These efforts will provide some additional capacity to re-establish and grow output at the mill in the near-term, while providing the Company with substantial tailings capacity for future production increases.Substantial cost saving options are potentially available to the Company as management considers alternate electric power options as well as various changes in mining methods and mineral processing technologies.
Exploration:
The Company is preparing stations for an underground drill program in the mine and drilling permits have been submitted for the upcoming surface program. One Company-owned surface drill rig has arrived on site, and a second (underground) rig is currently being manufactured and is expected to be delivered mid-summer.In addition to the high-grade resource already established at Plomosas, substantial exploration potential exists across the 6km long structure on the property with just 600m having been explored to date. The current JORC mineral resource1 by the previous operator totals 215,000 tonnes grading 13.5% zinc, 6.3% lead and 34.0 g/t silver (indicated), and 772,000 tonnes grading 13.1% zinc, 3.0% lead and 19.0 g/t silver (inferred), at a 3% zinc cut-off at December 2021.In recent years, a significant amount of the mill feed came from outside the known resource, providing encouragement that exploration drilling may substantially increase the Plomosas' resource over time. The Company expects to deliver drill results later on in 2023 and early 2024 from its maiden exploration programs.Other exploration targets on the property include untested intrusion-related gold-copper targets with historical high-grade grab samples from surface prospecting. 
Photo 1. Ongoing Work at Plomosas Mill
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ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with multiple mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement below, and Footnote 3 for report reference). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenues of more than $241 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc-lead-silver producer with exceptional exploration upside potential. The Company aims to recommence operations in the near term followed by plans for expanding operations. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored to date. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with high-grade surface prospecting samples2. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., a Director and officer of IMPACT Silver Corp., is a "Qualified Person" within the meaning of NI 43-101, and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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.
Footnotes:
1. Plomosas mineral resources were reported by the previous mine owner, Consolidated Zinc Ltd. (CZL:ASX), on their website (https://api.newsfilecorp.com/redirect/YYqw3IngOk) under the Australian JORC (2012) Code as mineral resources "depleted as at December 2021". IMPACT's Qualified Person has reviewed but not verified in detail these current reported mineral resources and is only reporting them as material recent mineral resources reported by CZL and available in the public record. IMPACT believes the estimates are relevant and reliable, given they are reported to Australian JORC standards; however, IMPACT's Qualified Person has not done sufficient work to classify them as current Canadian NI 43-101 mineral resources.
2. Reference: Alexandri, A. Gonzalez, H., & Salas, H. (2022). Plomosas Project (CZL), Field Visit Report. IMPACT Silver Corp. private report on field visits and compilation of historic and recent data, 56 pages.
3. Reference: Ristorcelli, S.J. & Gorzynski, G. (2016). Technical Report on Mineral Resources for the Capire Silver-Lead-Zinc Project, Pedro Ascencio Alquisiras Municipality, Guerrero, Mexico. Prepared for IMPACT Silver Corp. by Mine Development Associates, Reno, Nevada. 82 pages. Available on www.sedar.com.
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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding the potential for defining and extending the known mineralization at Plomosas, and plans for drilling and future operations at the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 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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| From: LoneClone | 8/1/2023 2:30:15 PM | | | | | | IMPACT Silver Provides Construction Update at the High-Grade Zinc-Silver Plomosas Property, Mexico
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to provide an update from the recently acquired Plomosas high-grade zinc-silver mine in Chihuahua State, Mexico.
"Significant progress has been made at Plomosas as the team nears operational status at the mine. Since closing the acquisition of Plomosas, our experienced team is nearing a major milestone with all rehabilitation efforts in the final stages both on time and within budget. We are excited to bring the mine and plant back online after a near one year hiatus". said IMPACT Silver President & CEO Fred Davidson.
The Company expects the Plomosas mine to contribute to the Company's existing silver production located to the south, in Zacualpan, Mexico. By diversifying the Company to include a meaningful zinc component against the backdrop of strong medium and long term fundamentals, management is transforming IMPACT into a diversified and growing production company with significant exploration potential.
Rehabilitation Update
Plant: All necessary components of the mill have arrived on site or have been refurbished with assembly currently in the final stages. Testing and modification of the plant is expected to start in late summer, with ramp up to design capacity of nearly 200 tpd expected over the coming months. Construction is now approximately 85% complete. 
Figure 1. Plant Rehabilitation
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Figure 2. Ball Mill & Flotation Cells
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Tailings Pond: The Company has applied for the expansion of the current tailings pond which is expected to add at least an additional two years capacity. Meanwhile, an additional tailings pond is in the planning stages to accommodate years of future production and growth. 
Figure 3. Power Infrastructure Improvements
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Underground Mine: Refurbishments to ventilation, electrical and lighting systems are ongoing as activity increases underground. Mining has begun and is expected to ramp up as the Company deploys additional equipment to the mine including scoop trams and underground trucks. Underground drilling to better define and expand resources has begun and drill permits for surface brownfield and greenfield exploration targets have been received. 
Figure 4. Underground Activity
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Mine Planning: The exploration team has initiated its first phase of the 2023-2024 mine plan. This includes extraction of high-grade material in line with previous grades in excess of 13% Zn. Workforce & Personnel: There are currently 70 Company employees on site and another 25 contract workers. The Company is fortunate to have inherited a strong workforce after the acquisition closed and is adding positions in specific areas centred around engineering, exploration and day-to-day operations.ESG: While generally remote, the Company engages with the nearest communities to ensure ongoing support and coordination. The State of Chihuahua provides the mine with a strong and experienced labour force from which to draw talent. The Company is currently studying proposals to reduce its reliance on fossil fuels with plans to be an industry leader in decarbonization in the mining sector. 
Figure 5. Mill Feed Management
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ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with multiple mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement, and Footnote 2 for report reference). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenues of more than $241 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc-lead-silver producer with exceptional exploration upside potential. The Company is working to recommence operations in the near term followed by plans for expanding operations. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored to date. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with high-grade surface prospecting sampling1. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., a Director and officer of IMPACT Silver Corp., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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.
Footnotes:
Reference: Alexandri, A. Gonzalez, H., & Salas, H. (2022). Plomosas Project (CZL), Field Visit Report. IMPACT Silver Corp. private report on field visits and compilation of historic and recent data, 56 pages.Reference: Ristorcelli, S.J. & Gorzynski, G. (2016). Technical Report on Mineral Resources for the Capire Silver-Lead-Zinc Project, Pedro Ascencio Alquisiras Municipality, Guerrero, Mexico. Prepared for IMPACT Silver Corp. by Mine Development Associates, Reno, Nevada. 82 pages. Available on www.sedar.com.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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding the potential for defining and extending the known mineralization at Plomosas and plans for drilling and future operations at the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 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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| From: LoneClone | 8/28/2023 1:39:36 PM | | | | | | IMPACT Silver Announces Q2 2023 Results with Revenue up 57% and Strong Operating Income
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTC Pink: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces its financial and operating results for the second quarter ended June 30, 2023. The Company reports revenue of $5.5 million in Q2 2023, representing a 57% increase over revenue of $3.5 million in Q2 2022. Mine operating income (before amortization and depletion) in Q2 2023 was $0.90 million compared to $0.03 million Q2 2022. The overall improvement in revenue is due in part to increased gold and silver sales. The net loss in Q2 2023 was $0.9 million compared to a net loss of $0.8 million in Q2 2022. The net loss in the period includes $0.5 million for G&A costs related to the new Plomosas acquisition as well as one-time costs related to the marketing of the Company's recent non-brokered private placement.
The Company maintains a strong balance sheet with $13.7 million in cash and no long-term debt. During the period, the Company completed a $9.0 million, non-brokered private placement and ended the quarter with working capital of $13.3 million.
On April 3, 2023, the Company closed the acquisition of the Plomosas zinc-lead-silver mine for a total purchase price of US$6.0 million, consisting of US$3.0 million in cash and the balance in the form of IMPACT shares (a total of 11,441,647 shares were issued and are subject to certain restrictions). Post closing adjustments are being made based on changes in working capital.
Zacualpan Silver District
The Company's average mill head grade of 163 g/t during the period was up 2% on a year over year basis, with increased gold production and sales in Q2 2023 from the new Alacran Mine. Higher overall production levels across the Company including silver, lead and gold helped contribute to a 63% increase in revenue per tonne of $155.67 in Q2 2023 compared to $95.44 in Q2 2022.
The Company continued to focus on exploration and development of the Royal Mines of Zacualpan and the Plomosas mining districts in Q2 2023 and spent $2.8 million on these programs.
Uncertainty revolving around the state of global economies have contributed to continued demand for precious and base metals during the period as investors continued their flight to safety to combat inflation. Moreover, there are strong signs that softer monetary policy is on the horizon as the rate of interest rate increases has started to slow, adding further support to silver and gold prices during the period. While cost inflation pressures continue to persist throughout the supply chain and labour network, much of the year over year cost increases are owed to negative foreign exchange pressures from the strengthening Mexican peso. This contributed to an increase in direct costs per production tonne in Q2 2023 of $130.67 compared to $94.86 in Q2 2022. Costs may continue to increase in 2023, albeit there is evidence of a slowing trend in this regard.
Plomosas High-Grade Zinc Mine
During the second quarter, the Company closed on its transformative acquisition of the Plomosas high-grade zinc mine in northern Mexico. The acquisition provides the Company with a meaningful new chapter as it expands IMPACT's production profile from one to two producing operations. Plomosas adds significant and high-grade metal diversification through its high-grade zinc deposit as well as exciting exploration potential across the property's largely unexplored property area.
During the quarter, the Company began a major rehabilitation program at the mine to bring the asset back into production following a near one-year hiatus. As of June 30, 2023, the Company was approaching the later stages of its planned rehabilitation at Plomosas both on time and on budget, including improvements and upgrades at the mine, mill, plant and surrounding infrastructure.
Fred Davidson, President & CEO of IMPACT, stated, "During the second quarter, our team at Zacualpan continued to execute on a grade-improvement and cost reduction plan which began in 2022. These efforts have started to bear fruit as seen with the increase in average grade milled and specifically, the impressive increase in gold production on a year over year basis. While cost pressures continue to persist, improvements and efficiencies across the system have started to offset these trends. Meanwhile, our transformative new Plomosas mine is on the doorstep to restarting production. This top-quartile in zinc grade mine is in an established mining region and will soon start to generate significant revenue diversification for the Company as we consider further potential expansion of this new producer in 2024."
Q2 2023 Financial Overview
On April 3, 2023, the Company paid a total of US$6.0 million to acquire the Plomosas zinc-lead-silver mine, consisting of US$3.0 million in cash and the balance in the form of IMPACT shares (a total of 11,441,647 shares were issued and are subject to certain restrictions). Post closing adjustments are being made based on changes in working capital, as agreed to between the two parties.
Revenue in Q2 2023 was $5.5 million, up from $3.5 million in Q2 2022. No revenue in Q2 2023 is attributed to the new Plomosas mine acquisition.
Mine operating earnings before amortization and depletion in Q2 2023 was $0.90 million, compared to $0.03 million in Q2 2022.
The net loss in Q2 2023 was $0.9 million compared to net loss of $0.8 million in Q2 2022 The net loss in the period includes $0.5 million for G&A costs related to the new Plomosas acquisition as well as one-time costs related to the marketing of the Company's recent non-brokered private placement.
After investing $2.8 million in exploration expenditures and mining assets during the quarter, the cash position remained strong at quarter-end with $13.7 million with working capital of $13.3 million.
During the quarter, the Company closed an oversubscribed, non-brokered private placement for an additional $9.0 million.
The Company has no long-term debt.
Q2 2023 Production Overview
Mill throughput in Q2 2023 was 35,753 tonnes compared to 37,183 tonnes in Q2 2022.
Silver production during the period increased by 1% to 155,744 oz compared to 154,001 oz in Q2 2022 while contributions from lead and gold saw production increases on a year-over-year basis of 49% and 383%, respectively.
Revenue per tonne sold was $155.67 in Q2 2023, representing an increase of 63% over the same period in 2022 of $95.44.
Direct costs per production tonne were $130.67 in Q2 2023, representing an increase of 38% over Q2 2022 costs of $94.86 per tonne. Much of this increase is due to foreign exchange, with the balance coming from inflation-related pressures in Mexico.
Exploration Review
At the Royal Mines of Zacualpan, management continues to focus its drill program in areas where it has seen ongoing success, such as the San Ramon and the Guadalupe Mine. Meanwhile, management is especially encouraged with developments at the Alacran mine as its elevated gold values could continue to improve the overall grade for the Zacualpan district operations and as a result, revenue per tonne.
Outlook
With a strong balance sheet, exploration potential at both of the mining districts, encouraging gold potential as well as the upcoming start-up of the Plomosas high-grade zinc acquisition, management believes the next 18 months will be transformative for the Company and its investors. These factors should lead to ongoing improvement in revenues while management expects cost pressures to continue to slow heading into 2024.
The Company's growth is expected to reflect its strong position as one of just a handful of intermediate miners offering investors exposure to three distinct verticals across the mining sector, including exploration, production, and growth.
A recorded conference call reviewing the financial and production results of the quarter ended June 30, 2023 will be available on the Company website on August 28, 2023 at api.newsfilecorp.com.
The information in this news release should be read in conjunction with the Company's Q2 2023 unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedarplus.ca. All amounts are stated in Canadian dollars unless otherwise specified.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with three mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement, and Footnote 1 below for technical report reference) Company engineers are reviewing Capire for a potential restart of operations to leverage improved commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and have produced over 12 million ounces of silver, generating revenue more than $241 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc-lead-silver producer with exceptional exploration upside potential. The Company aims to recommence operations in the near term followed by plans for expanding operations in 2024. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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.
Footnotes:
1. Reference: Ristorcelli, S.J. & Gorzynski, G. (2016). Technical Report on Mineral Resources for the Capire Silver-Lead-Zinc Project, Pedro Ascencio Alquisiras Municipality, Guerrero, Mexico. Prepared for IMPACT Silver Corp. by Mine Development Associates, Reno, Nevada. 82 pages. Available on www.sedarplus.ca.
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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding the potential for defining and extending the known mineralization at Plomosas, and plans for drilling and future operations at the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 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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| From: LoneClone | 10/2/2023 12:54:46 PM | | | | | | IMPACT Silver Commences Trading on the U.S. OTCQB Exchange Under the Symbol ISVLF
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) ("IMPACT" or the "Company") is pleased to announce that its shares are now trading in the USA on the OTCQB Market under the symbol "ISVLF". The Company's shares also continue to trade in Canada on the TSX Venture Exchange under the symbol "IPT".
The Company's upgrade to the OTCQB market along with ongoing eligibility for electronic clearing and settlement through The Depository Trust Company ("DTC"), is expected to provide investors with streamlined market standards and transparency in line with the Company's current obligations being listed on the TSX Venture Exchange. To qualify for the OTCQB, listed companies must meet stringent financial standards and provide top level corporate governance and compliance with applicable securities laws.
Fred Davidson, President & CEO stated: "The graduation of the Company's shares to the OTCQB not only points to the strong corporate profile of IMPACT Silver but is also timely as the Company embarks on the final steps of the transformational refurbishment of the recently acquired high-grade zinc mine at Plomosas, representing a significant growth step to complement our existing producing silver assets at the Royal Mines of Zacualpan."
The Company would like to thank Becky Popoff and B. Riley Financial for their sponsorship in this listing.
Investors can receive real-time quotes for the Company in the USA at www.otcmarkets.com.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with three mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement, and Footnote 1 below for technical report reference) Company engineers are reviewing Capire for a potential restart of operations to leverage improved commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and have produced over 12 million ounces of silver, generating revenue more than $241 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc-lead-silver producer with exceptional exploration upside potential. The Company aims to recommence operations in the near term followed by plans for expanding operations in 2024. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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.
Footnotes:
1. Reference: Ristorcelli, S.J. & Gorzynski, G. (2016). Technical Report on Mineral Resources for the Capire Silver-Lead-Zinc Project, Pedro Ascencio Alquisiras Municipality, Guerrero, Mexico. Prepared for IMPACT Silver Corp. by Mine Development Associates, Reno, Nevada. 82 pages. Available on www.sedarplus.ca.
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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding the potential for defining and extending the known mineralization at Plomosas, and plans for drilling and future operations at the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 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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| From: LoneClone | 10/23/2023 12:13:05 PM | | | | | | IMPACT Silver Announces Production Restart at the Recently Acquired Plomosas High-Grade Zinc Mine
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) ("IMPACT" or the "Company") is pleased to announce first production under the Company's ownership at the recently acquired high-grade Plomosas zinc deposit located in the State of Chihuahua in northern Mexico.
Following the acquisition of the Plomosas mine in April 2023 (see IMPACT news release dated April 3, 2023), the Company embarked on an extensive rehabilitation and upgrade program at the site, including inside the mine, at the mill and on all associated mobile equipment and infrastructure. As well, new technical and supervisory staff were added to restart production which had been halted since late 2022 under the previous owner.
Fred Davidson, President & CEO stated, "This is a tremendous milestone for our Company as we embark on our next phase of growth. When we bought the Plomosas mine earlier this year, we remained steadfast in our ability that we could bring the asset back into production on time and on budget. I would like to thank our exceptional technical team for a job well done. Our shareholders can now look forward to a diversified mix of high-grade zinc at Plomosas in addition to our legacy silver producing assets at the Royal Mines of Zacualpan, which are now in their 17th year of continuous production and revenue generation."
The Company has reached a significant milestone in shipping the first concentrate to the smelter after restarting production following an intensive effort initiated just five months ago. Mine planning and rehabilitation have been ongoing over the summer including replacing underground equipment and dewatering activities inside the mine. Scoop trams and underground trucks have been actively extracting material with volume increasing on a regular basis as initial processing levels have been achieved at the mill. Management will make modifications and adjustments as needed as it targets design processing capacity of approximately 200 tpd in H1/2024 with plans to then further expand production.
Images 1-2. - Mill Rehabilitation
To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com
ABOUT IMPACT SILVER
IMPACT Silver Corp. is a successful intermediate mineral producer and explorer with three mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four 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 (see IMPACT news release dated January 18, 2016, for details). Company engineers are reviewing Capire for a potential restart of operations. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $241 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc-lead-silver producer in northern Mexico with exceptional exploration upside potential where only 600m of the 6 km-long structure has been explored 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found at www.impactsilver.com. X (Twitter) @IMPACT_Silver and LinkedIn api.newsfilecorp.com
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to restart of operations at Capire , and exploration and production potential of the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 except as required by law.
 |
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| From: LoneClone | 11/21/2023 3:09:03 PM | | | | | | IMPACT Silver Announces Q3 2023 Results with Revenue Up 26% and Positive Operating Income
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - November 21, 2023) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) ("IMPACT" or the "Company") announces its financial and operating results for the third quarter and nine months ended September 30, 2023. The Company reports revenue of $4.8 million in Q3 2023, representing a 26% increase over revenue of $3.8 million in Q3 2022. The improvement in revenue is due to higher silver prices as well as increased gold and lead sales in the period compared to last year. Mine operating income (before amortization and depletion) in Q3 2023 was $0.01 million compared to a loss of $0.1 million in Q3 2022. The net loss in Q3 2023 was $1.5 million compared to a net loss of $1.2 million in Q3 2022 and includes significant G&A costs associated with the successful integration of the new Plomosas mine acquisition, which came online subsequent to quarter-end.
Q3 2023 and YTD Highlights:
- The Company completed the final rehabilitation stages during the quarter to bring the Plomosas high-grade zinc mine back online subsequent to quarter-end.
- After investing $3.8 million in exploration expenditures and mining assets during the quarter, the cash position remained strong at quarter-end at $8.9 million with working capital of $8.7 million.
- YTD the Company has invested $7.3 million in exploration and mining assets of which $4.9 million was spent at Plomosas toward start up of operations.
- The Company continues to have no long-term debt.
"Despite a challenging market, we are pleased with the performance of the Company in 2023. We have countered stagnant and declining commodity prices by substantially increasing our gold production while recently bringing online the transformative high-grade Plomosas zinc mine that will meaningfully diversify revenue and contribute to profitability as production continues to ramp up. With an eye on cost controls amidst a difficult inflationary environment coupled with a strong Mexican Peso, we continue to invest in exploration to improve silver grades at Zacualpan while aiming to grow our zinc resources and output at Plomosas," said Fred Davidson, President & CEO.
Zacualpan Silver District
The third quarter is typically a seasonally rainy period in the area leading to unpredictable production. In Q3 2023, mill throughput declined to 37,178 tonnes compared to 39,816 tonnes in Q3 2022. Despite this, revenue per tonne sold in Q3 2023 increased by 29% to $129.46 from $99.98 in Q3 2022. On a year-to-date basis, silver, lead and gold production have increased by 1%, 37% and 213%, respectively, while the average silver mill head grade was roughly flat at 160 g/t compared to 162 g/t in the same period of 2022.
The Company continued to focus on exploration and development of this mining district in Q3 2023 and spent $0.9 million on these programs.
Direct costs per tonne increased by 23% in Q3 2023 to $128.75 compared to $104.45 in the same period last year. Much of this increase is due to foreign exchange pressures stemming from the strength of the Mexican Peso, as well as ongoing inflation across the operation. Management has started to see some moderation of these negative effects late in the third quarter. As well, wetter than usual conditions during this rainy season led to higher transportation and processing costs.
Ongoing economic uncertainty and risk premiums have increased due to higher, sustained interest rates as well as growing geopolitical crises in Eastern Europe and the Middle East, resulting in a flight to safety to the US Dollar and selling pressure on commodities and other hard assets. While there are some expectations that interest rates have started to peak, investors remain risk-averse for the time being. Management has implemented strict cost controls but continues to invest in the operation, specifically through its ongoing exploration activities.
Plomosas High-Grade Zinc Mine
During the third quarter, the Company completed the finals steps to bring back online the 200 tpd Plomosas high-grade zinc mine in northern Mexico and subsequent to quarter-end, the mine successfully restarted production following a one-year hiatus (see IMPACT news release dated October 23, 2023). Plomosas adds significant and high-grade metal diversification through its zinc (-lead-silver) deposit as well as exciting exploration opportunities across the property's under explored area.
Exploration potential at Plomosas is exceptional with only 600m of the 6-kilometre-long structure assessed plus other exploration targets including untested copper-gold targets. Regionally, Plomosas lies in the same mineral belt as some of the largest CRD (carbon replacement deposits) in the world.
The Company currently has an offtake partner for material produced at Plomosas and has received several expressions of interest from other parties wishing to buy concentrate. As zinc prices continue to recover, management is considering expanding production beyond the current design capacity of 200 tpd.
Outlook
The Company's rehabilitation efforts at the Plomosas high-grade zinc mine, combined with the legacy silver producing assets at Zacualpan will provide substantial cash flow diversification and potential going forward. Management expects production to ramp up in early 2024 at Plomosas at a time when zinc prices have started to rebound due to reduced global supply levels stemming from the closure of higher cost, lower grade mines as well as other events impacting new supply. Meanwhile, some recent moderation in the Mexican Peso and indications of peaking inflation could bode well for margins going forward.
IMPACT maintains a strong balance sheet allowing for continued exploration at both mining districts. The Company has the potential to meaningfully add to production and resources at Plomosas which should lead to ongoing improvement in revenues and add shareholder value while management expects cost pressures to continue to abate heading into 2024.
The Company's growth is expected to reflect its strong position as one of just a handful of intermediate miners offering investors exposure to three distinct verticals across the silver and zinc mining sector, including exploration, production, and growth.
A recorded conference call reviewing the financial and production results of the quarter ended September 30, 2023 will be available on the Company website on November 23, 2023 at www.impactsilver.com/s/ConferenceCalls.asp.
The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedarplus.ca. All amounts are stated in Canadian dollars unless otherwise specified.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with three mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $256 million.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company re-commenced operations and has plans for expansion in 2024. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at api.newsfilecorp.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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.
Footnotes:
1. Reference: Ristorcelli, S.J. & Gorzynski, G. (2016). Technical Report on Mineral Resources for the Capire Silver-Lead-Zinc Project, Pedro Ascencio Alquisiras Municipality, Guerrero, Mexico. Prepared for IMPACT Silver Corp. by Mine Development Associates, Reno, Nevada. 82 pages. Available on www.sedarplus.ca.
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. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding the potential for defining and extending the known mineralization at Plomosas, and plans for drilling and future operations at the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 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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| From: LoneClone | 1/9/2024 3:38:49 PM | | | | | | IMPACT Silver Contracts Bell Internacional to Provide Tesla Battery Energy System with Solar at the Plomosas Mine
January 09, 2024 9:00 AM EST | Source: IMPACT Silver Corp.
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce that its Plomosas high-grade zinc mine, located in the State of Chihuahua in northern Mexico, has entered into a managed services contract with Bell Internacional de Mexico/TTN Energia for the planning, design, construction, and operation of Tesla Corp.'s commercial battery with solar, energy efficiency platform, expected to meaningfully reduce its operating costs and eliminate nearly all carbon emissions associated with round-the-clock, diesel powered generators.
The platform will provide a sustainable and green energy efficiency solution, using off-grid, PV (solar) green electrical energy generation and AI-controlled battery storage systems, that will cut nearly 90% the annual 2,400 metric tons of carbon dioxide emissions from diesel fuel combustion, thereby dramatically reducing IMPACT's carbon footprint at Plomosas.
About the Tesla Battery System with Solar
Clean electricity from a 2,200 kW solar plant will be supplied to an intelligent software controlled microgrid, equipped with a Tesla Megapack 2 XL 4-hour, 960 kW battery energy storage system (BESS), and continuously delivered to the load centers of the Plomosas mine, for current and future power demand requirements. The system will offer substantial power and expansion capacity for a near doubling of production from current design capacity levels.
Existing diesel generators will be kept onsite and activated automatically for occasional power generation support on consecutive cloudy or rainy days, and emergency backup. Notwithstanding, the battery's charge, which will be "topped up" regularly throughout daylight hours year-round, will be able to provide non-stop, clean power for up to 24 hours per day under current mine operation capacity.
Financial Implications
Immediate cost savings will take effect as contract pricing is based on a percentage of savings linked to the reduction of annual diesel usage, with "minimum saving safeguards" established to protect IMPACT should the price of diesel decline below an agreed upon "baseline" price that would otherwise reduce the amount of diesel cost savings to the Company.
Along with labour, diesel fuel is one of the largest operating costs at the Plomosas mine. No material capex is required by the Company for this project and savings are expected to amount to approximately 30-45% of the Company's current annual diesel input costs at Plomosas once the system is fully operational.
The Company anticipates the project to be fully integrated across the operation, providing nearly all the required power requirements to the Plomosas mine and plant by mid-Q2/2024.
President and CEO, Fred Davidson said, "We are thrilled to partner with world class contractors including Bell Internacional and TTN Energia, backed by the world-leading innovators at Tesla as we become the first truly green mining project. Shareholders can look forward to substantial cost savings and improving profit margins, as we solidify our position as a high-grade, low-cost zinc producer. Our first mover advantage will allow IMPACT to meaningfully reduce its carbon emissions while attracting the attention of potential partners, including some the world's most significant mining companies as we focus on growing production and exploration activity in 2024."
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company re-commenced operations in late 2023 and has plans for expansion in 2024. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure having been explored 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four 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. (see IMPACT news release dated January 18, 2016, for details and QP statement). The Company's engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 17 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $256 million.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., a Director and officer of IMPACT Silver Corp., is a "Qualified Person" within the meaning of NI 43-101, and has approved the technical information in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
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. All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to future silver prices, interpretation of drill results, future work plans, the potential of the Company's projects, and potential and plans for the Plomosas project, are forward looking statements. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved.
Such forward-looking information involves known and unknown risks and assumptions, including with respect 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, except as required by law.
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 NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments, or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
303-543 Granville Street
Vancouver, BC, Canada V6C 1X8
Telephone (604) 664-7707
www.impactsilver.com
Twitter
LinkedIn
 SOURCE: IMPACT Silver Corp. |
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| From: LoneClone | 1/17/2024 1:58:58 PM | | | | | | IMPACT Silver Intersects 6.9 Meters with 10.22% Zinc, 5.43% Lead and 27.7 g/t Silver in First Drill Results at the Plomosas Mine
newsfilecorp.com
January 17, 2024 6:30 AM EST | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce initial results of an ongoing 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 meters with 11.07% zinc and 9.24% lead, 6.9 meters with 10.22% zinc and 5.43% lead, and 3.6 meters with 10.91% zinc and 2.07% lead.
The Company has undertaken a surface drill program to test mineralization near the "Très 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 Très 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 down-hole intervals are believed to represent true widths for the mineralization.
- Drill hole TAS-23-9 intersected three intervals, 5.70 meters (m) with 7.9% zinc, 5.3% lead and 23.2 g/t silver, 3.46m with 9.37% zinc, 5.24% lead and 25.9 g/t silver, and 1.5m 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% 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 50.0 g/t silver.
- Fifty-eight samples taken over a strike length of approximately 50 meters 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 meters.
Table 1.
| HOLE | FROM (m) | TO (m) | Interval (m) | Zn % | Pb % | Ag g/t | | TAS-23-006 | 151.16 | 155.09 | 3.93 | 4.09 | 0.66 | 7.5 |
|
|
|
|
|
|
| | TAS-23-007 | 173.62 | 176.58 | 2.96 | 4.89 | 0.06 | 11.7 |
| 201.35 | 202.64 | 1.29 | 18.19 | 0.06 | 4.5 |
|
|
|
|
|
|
| | TAS-23-009 | 189.76 | 195.46 | 5.70 | 7.94 | 5.28 | 23.2 | | includes | 192.00 | 195.46 | 3.46 | 9.37 | 5.24 | 25.9 |
| 201.08 | 202.58 | 1.50 | 11.89 | 3.09 | 64.3 |
|
|
|
|
|
|
| | TAS-23-010 | 287.20 | 288.64 | 1.44 | 5.89 | 0.89 | 12.9 |
| 323.17 | 324.00 | 1.41 | 4.30 | 0.67 | 23.9 |
| 329.10 | 332.87 | 3.77 | 5.02 | 0.81 | 18.9 |
|
|
|
|
|
|
| | TAS-23-012 | 317.75 | 320.15 | 2.40 | 6.02 | 0.44 | 17.3 |
|
|
|
|
|
|
| | TAS-23-014 | 251.75 | 253.25 | 1.50 | 3.30 | 12.45 | 37.2 |
|
|
|
|
|
|
| | TAS-23-015 | 283.27 | 284.77 | 1.50 | 4.50 | 2.80 | 33.3 |
|
|
|
|
|
|
| | TAS-23-016 | 258.56 | 267.80 | 9.24 | 4.05 | 0.45 | 6.1 | | includes | 261.28 | 263.26 | 1.98 | 9.15 | 1.37 | 12.7 | | and | 265.95 | 267.80 | 1.85 | 8.67 | 0.72 | 12.6 |
|
|
|
|
|
|
| | TAS-23-018 | 271.62 | 274.32 | 2.70 | 11.07 | 9.24 | 34.7 |
| 281.00 | 287.90 | 6.90 | 10.22 | 5.43 | 27.7 |
| 308.25 | 311.85 | 3.60 | 10.91 | 2.07 | 50.0 |
Highlights of drill hole assays from the Plomosas mine, Tres Amigo program
Downhole intervals are approximate true widths.
Table 2. Drill hole data for holes in this release.
| Hole ID | Easting | Northing | Elevation (m) | Azimuth | Inclination | Total depth (m) | | TAS_23_001 | 476,176 | 3,216,563 | 1,143 | 245 | -54 | 201.25 | | TAS_23_002 | 476,177 | 3,216,563 | 1,143 | 240 | -75 | 231.00 | | TAS_23_003 | 476,180 | 3,216,565 | 1,143 | 55 | -90 | 183.00 | | TAS_23_004 | 476,180 | 3,216,521 | 1,154 | 232 | -80 | 202.50 | | TAS_23_005 | 476,182 | 3,216,523 | 1,154 | 55 | -76 | 195.00 | | TAS_23_006 | 476,278 | 3,216,543 | 1,129 | 234 | -44 | 253.50 | | TAS_23_007 | 476,278 | 3,216,544 | 1,129 | 235 | -60 | 252.00 | | TAS_23_008 | 476,280 | 3,216,548 | 1,156 | 237 | -75 | 321.00 | | TAS_23_009 | 476,278 | 3,216,543 | 1,129 | 235 | -90 | 313.50 | | TAS_23_010 | 476,280 | 3,216,548 | 1,155 | 235 | -79 | 351.00 | | TAS_23_011 | 476,423 | 3,216,645 | 1,149 | 235 | -63 | 246.00 | | TAS_23_012 | 476,423 | 3,216,645 | 1,149 | 235 | -77 | 321.00 | | TAS_23_013 | 476,435 | 3,216,628 | 1,148 | 235 | -45 | 315.00 | | TAS_23_014 | 476,435 | 3,216,628 | 1,148 | 235 | -60 | 376.50 | | TAS_23_015 | 476,435 | 3,216,628 | 1,148 | 235 | -75 | 351.00 | | TAS_23_016 | 476,435 | 3,216,628 | 1,148 | 235 | -68 | 321.75 | | TAS_23_017 | 476,435 | 3,216,628 | 1,148 | 235 | -83 | 378.00 | | TAS_23_018 | 476,472 | 3,216,605 | 1,146 | 235 | -59 | 312.00 |
Coordinates in UTM WGS84.
CEO STATEMENT
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."
TRES AMIGOS DRILL RESULTS
The Plomosas mine, a historic high grade zinc producer in northern Mexico (Fig. 1), was recently acquired by the Company which has undertaken a surface drill program in the Très 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 (Figure 2).
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 (Figure 3). Mineralization in the Juarez limestone generally forms pods of high-grade zinc and lead at and near the contact with an overlying shale, and drill results such as reported here indicate potential for a large body of mineralization in this area (Figure 4), providing impetus for further exploration.
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 (Fig. 5). These high-grade results are being evaluated in relation to the mill upgrades the Company has recently completed.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) 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 (see IMPACT news release dated January 18, 2016 for details and QP statement). 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 600m 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. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Quality Control/Quality Assurance
Samples take by the Company were analyzed by ALS Group, an internationally recognized analytical services provider, and by the laboratory at the Plomosas mine. Samples analyzed by ALS used fire assay with an AA finish for gold and a multielement ICP package for other metals. Assays for metals >1% used an overlimit ICP method. For samples with >30%Zn a wet chemical method is used. For analyses at the mine, all metals are analyzed by AA. For some samples with >30% Zn, the analysis from the mine lab was used if an overlimit from ALS was not available. Certified Reference Materials and internal control samples are added to the sample stream at regular intervals to track accuracy of assays.
Qualified Person and NI 43-101 Disclosure
Craig Gibson, PhD, CPG, is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at api.newsfilecorp.com.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
O: (604) 681 0172 or inquiries@impactsilver.com
C: (778) 887 6489 Direct
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. Forward-Looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding activity at the Plomosas mine,and estimated timing thereof, the potential for defining and extending the known mineralization, and plans for drilling and future operations at the Company's projects.
Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitation, 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, pandemics 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 or beliefs, opinions, projections or other factors, except as required by law.
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 NI 43-101, the Company is required to disclose that it has not based its production decisions on NI 43-101 mineral resources or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
303-543 Granville Street Telephone 604 664-7707
Vancouver, BC, Canada V6C 1X8
www.impactsilver.com
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Figure 1: Location map of Plomosas Mine and nearby mines and infrastructure. References to nearby projects are for information purposes only and there are no assurances that Plomosas will achieve similar results.
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Figure 2: Schematic cross section of Plomosas Mine mineralization.
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Figure 3. Drill hole locations for Tres Amigos drill program with line of section for Figure 4.
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Figure 4. Cross section through hole TAS_23_016, Tres Amigos drill program.
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Figure 5. Plan and schematic view of the sampling on level 880 of Plomosas Mine (green on the inset map). The red color in the lower figure represents the shallowly dipping mineralized horizon defined on Levels 8 and 9 by historic workings and drill holes.
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 SOURCE: IMPACT Silver Corp. |
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