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Impact Silver Intersects 213 g/t Silver over 17.30m Including 1,400 g/t Silver over 0.75m on New Discovery at Guadalupe Mine

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Vancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce a new silver vein discovery in its producing Guadalupe silver mine in the Royal Mines of Zacualpan Silver-Gold District, Mexico.

GUADALUPE UNDERGROUND DRILLING - NEW DISCOVERY

Underground drilling south from Level 140 of the Guadalupe Mine intersected new significant mineralization designated Kena Vein South, within 100-200 metres of active mine workings. Assays have been received from the first four drill holes in the zone:

TABLE 1: KENA VEIN SOUTH DRILL RESULTS - GUADALUPE MINE

Hole No.

From (metres)

To (metres)

Interval (metres)

Silver (g/t)

Gold (g/t)

Lead (%)

Zinc (%)

MPZ-UG-001-24

79.45

81.10

1.65

377.9

0.40

0.27

0.42

And

178.10

178.85

0.75

1,400.0

0.39

0.90

2.09

And

206.70

224.00

17.30

213.8

0.02

0.15

0.25

Including

206.70

210.60

3.90

357.7

0.03

0.18

0.41

And

231.80

232.10

0.30

782.0

0.06

0.13

0.29

MPZ-UG-003-24

241.62

242.40

0.78

463.0

0.09

0.63

1.23

And

254.00

255.20

1.20

198.0

1.99

3.31

5.93

MPZ-UG-004-24

179.50

179.90

0.40

1,450.0

0.65

2.16

3.05

And

263.00

263.70

0.70

1,615.0

0.58

1.83

6.05

 

True widths are interpreted to be 85-100% of drill intervals. Hole UG-002-24 was drilled 50 metres to the northwest of the new discovery area and intersected low grades. The wide, high grade intersection in hole MPZ-UG-001-24 is interpreted to be locally thickened by stacked splay veins off the main vein.

The Kena Vein South has now been drill tested over a length of 150 metres from mine Level 140 and is open for extension to the southeast, updip and downdip. Drilling is continuing.

CEO STATEMENT

President and CEO Frederick Davidson commented, "The Guadalupe mine first began production almost 500 years ago and we are still finding new discoveries in the swarm of veins that make up the mine complex mineralizing system. We are currently drilling this new Kena Vein South from the 140 metre level of the mine. We will next move the drill to lower and higher levels of the mine to fully define the vein for mining. The close proximity of the new vein to current active mine workings will allow for rapid and low cost mine development."

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 18 years, IMPACT has placed multiple zones into commercial production and produced over 13 million ounces of silver, generating revenues over $261 million, with no long-term debt.